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    Markets Archives - Ecosystem Holdings

    Zambia’s debt ridden government adds $1.5 billion debt to buy Glencore copper mine

    Zambia’s state mining agency has agreed to purchase Glencore’s majority stake in Mopani Copper Mines for $1.5 billion, belying the government’s perilous financial situation that has seen the Southern African nation become the first pandemic-era sovereign debt default in the continent last year. In announcing the deal, the government said the move was a result […]

    Angola receives $488 million from IMF as government struggles to rein debt levels

    Angola has become the latest African country to receive funds from the International Monetary Fund, after the Washington-based lender approved disbursement of $488 million to the southern African country. In allocating the funds, IMF reiterated confidence that Africa’s second-biggest oil producer will rein in public debt to sustainable levels. The disbursement approved by the executive […]

    South Africa’s Mr Price sales up 5.8% in third-quarter

    South Africa’s Mr. Price posted a 5.8% rise in third-quarter retail sales, supported by COVID-19 relief packages and demand for household items as people worked from home during the health crisis. The clothing and homeware firm said in its results release that total retail sales jumped to $500.5 million for the three months ended December […]

    Namibia’s government backs calls to boycott Shoprite as wage stand-off prolongs

    Namibia’s government has thrown its weight behind growing calls to boycott Shoprite Holdings so that the company resolves a four-week strike over pay. The Namibian Food and Allied Workers Union (NAFU) has been pleading with consumers not to buy from Shoprite and its subsidiaries until the labor dispute is resolved. More than 2,000 Shoprite workers […]

    Heineken South Africa to slash jobs and abandon investments

    Heineken’s South African subsidiary will cut 70 jobs and put new investments on hold due to the country’s third ban on alcohol sales and COVID-19 trading restrictions, the firm announced on Wednesday. Africa’s most developed nation imposed a third ban on alcohol sales in early January, a move the government said was necessary to free […]

    Ghana’s economy contracts again in third quarter

    Ghana’s economy shrank for a second time in the third quarter, even as the government eased restrictions imposed to curb the spread of the coronavirus pandemic. Government statistician Samuel Kobina Annim told reporters in the capital Accra that gross domestic product (GDP) decreased 1.1% in the third quarter compared to a similar period last year. […]

    African Continental Free-trade Area could unlock $84 billion in exports

    The African Continental Free-Trade Area could help to realize more than $84 billion in untapped intra-African exports, a new report by the African Export-Import Bank reveals. Trade under the pact is due to begin from January 1, and if the export potential is tapped under the deal, intra-continental trade could rise to more than $231 […]

    Nigeria’s inflation hits three-year high

    Nigeria’s inflation sharply rose to a three-year high in November as food prices increased due to dollar shortages, insecurity in farmlands, and supply bottlenecks fuelled by the COVID-19 pandemic. According to the National Bureau of Statistics, consumer prices jumped 14.9% from the previous year, compared with 14.2% in October. The food index, which accounts for […]

    Kenyan private sector activity hit record 29 month-high in September – PMI

    Kenya’s private sector activity rose by the fastest rate in 29 months in September according to a report released by the Markit Stanbic Bank Kenya Purchasing Managers’ Index (PMI). PMI jumped to 56.3 in September from 53.0 in the previous month, driven by an increase in firms resuming operations after President Uhuru Kenyatta eased some […]

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