BUSINESS

AfroMillionsLotto to go live with over N1 Billion jackpot the biggest in Africa

AfroMillionsLotto to go live with over N1 Billion jackpot the biggest in Africa

AFRICA, BUSINESS
LONDON, United Kingdom AfroMillionsLotto (www.AfroMillionsLotto.com), the Nigerian Professional Football League’s (NPFL) exciting new lotto, goes live TODAY – allowing people to buy their online tickets for the first big jackpot draw, which will take place on Wednesday 18th October. Starting at N1 billion, the www.AfroMillionsLotto.com twice-weekly draw features bigger jackpots than all the lotteries in Nigeria combined. What’s more, it will also be the largest jackpot on offer anywhere in Africa. And if the jackpot rolls over because there are no winners, it increases by N100 million with each draw until it reaches a maximum of over N2 billion. Winners of the jackpot could afford one of the most expensive homes on sale in Nigeria, the wedding of their dreams,
Minister Lindiwe Zulu Unlocks Chinese Market for Small Businesses from South Africa

Minister Lindiwe Zulu Unlocks Chinese Market for Small Businesses from South Africa

BUSINESS
CAPE TOWN, South Africa Minister of Small Business Development, Ms. Lindiwe Zulu, has used her time in China to help unlock the Chinese market for South Africa’s small businesses and cooperatives. Minister Zulu is leading a South African small business delegation at this year’s China International Small and Medium Enterprises Fair (CISMEF) which takes place in Guanzhou, China, from the 10th of October to the 13th of October 2017. Minister Zulu challenged her Chinese counterparts and Chinese businesses to help open their markets to South Africa’s small and medium businesses. “Many SMMEs and Cooperatives have pointed out to us that their growth and sustainability is hampered by lack of access to markets. CISMEF must be a platform that opens the doors for many SMMEs
“Sometimes it is just a matter of communication” Dangote

“Sometimes it is just a matter of communication” Dangote

BUSINESS
LONDON, United Kingdom Financial Times correspondent John Aglionby's reporting in the fast FT online column that Nigerian businessman Aliko Dangote “accuses ‘Bulldozer’ Tanzanian president of scaring away investors” appears to have caused an overblown row. When Financial Times editor Lionel Barber asked Nigerian business leader Aliko Dangote in a live interview at the FT Africa Summit on Monday about his relationship with Tanzanian president John Magufuli, Dangote smiled and replied positively, “It's okay. I can always call him; I have his mobile number, and he listens to me”. Asked to comment on investment policies across Africa, Dangote, whose $620M US investment in a cement factory in Mtwara is among the largest in that country, went on to say that Tanzania's general policies “
SA business delegation arrives in Algeria

SA business delegation arrives in Algeria

AFRICA, BUSINESS
JOHANNESBURG, South Africa A twenty-two-member delegation of South African businesspeople has arrived in Algiers, Algeria, for the second leg of the Trade and Investment Mission that is being led by the Department of Trade and Industry (the dti) from 4-6 October 2017. Speaking at the welcoming session, the Ambassador of South Africa in Algeria, Mr Dennis Dlomo said South Africa and Algeria must continue with economic diplomacy that will eventually address the trade imbalance between the two countries. Dlomo pointed out that economic relations between the two countries have grown and were continuing to expand, and that the bilateral political relations were favourable and conductive for businesses to explore trade and investment opportunities. He advised the SA ...
Ecobank launches mVisa across 33 African Countries

Ecobank launches mVisa across 33 African Countries

AFRICA, BUSINESS
LOME, Togo Ecobank has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P). Ecobank Scan+Pay with mVisa delivers instant, secure cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a unique merchant identifying code into either a feature phone or smartphone. The payment goes straight from the consumer’s bank account into the merchant’s account and provides real-time notification to both parties. This serves to accelerate
World Bank group invites SA companies to stake claim to US$45 billion projects

World Bank group invites SA companies to stake claim to US$45 billion projects

BUSINESS
JOHANNESBURG, South Africa   The Executive Director of the World Bank Group representing Angola, Nigeria and South Africa, Ms Bongi Kunene invited the South African companies to stake a claim to the US$45 billion that the group has set aside for projects in Africa. Kunene was speaking at seminar on Doing Business with The World Bank Group that was co-hosted with the Department of Trade and Industry (the dti) through its Trade Invest Africa Division in Sandton today. The purpose of the seminar was to provide a platform for the Group to share information on how it works with the private sector in partnership with governments, as well as its private sector financing vehicles. “This seminar provides a perfect opportunity for us to share with the private sector opportu

PwC SA Mine report

AFRICA, BUSINESS
JOHANNESBURG, South Africa 2017 was another challenging year for South Africa’s mining industry in light of a decrease in dividends and market capitalisation, various retrenchments across the industry, and marginal increases in taxes paid. However, spot price increases for bulk commodities supported the industry and resulted in a return to profitability after the first substantial increase in revenues in five years. These are some of the highlights from PwC’s ninth edition of SA Mine, a series of publications that highlights trends in the South African mining industry released by PwC (PwC.com) today. Michal Kotzé, PwC Africa Energy Utilities & Resources Leader, says: "The 2017 year can be described as a year of policy uncertainty and real questions over the lo
Wafacash and WorldRemit expand partnership to offer instant money transfers across West and Central Africa

Wafacash and WorldRemit expand partnership to offer instant money transfers across West and Central Africa

BUSINESS
CASABLANCA, Morocco Morocco-based financial services company Wafacash is scaling up operations with leading digital money transfer service WorldRemit to offer instant money transfers across West and Central Africa. The companies already work together in Morocco and Senegal, but will expand into Cameroon, Benin, Burkina Faso, Niger and Cote D’Ivoire before the end of the year. The new service will let WorldRemit customers in over 50 countries transfer money as easily as sending an instant message, using the app or website. WorldRemit’s digital, mobile-first model significantly improves security and compliance standards. Senders no longer need to visit a bricks and mortar agent, which can be inconvenient and time consuming - often forcing hard working migrants to take time off wo