South Africa’s 630 megawatt (MW) Thabametsi coal-based power plant project in northern Limpopo province has hit a new setback after Japanese group Marubeni Corp announced its pullout. Marubeni’s decision was influenced by the withdrawal of some South African investors and South Korea’s state-run Korea Electric Power Corp (KEPCO) last month. “As per our policy that…
With South Africa battling record unemployment of 30.8% in the third quarter, President Cyril Ramaphosa has announced that travel to all countries will resume in an effort to boost the struggling tourism, aviation and hospitality sectors. Africa’s most advanced economy has the highest number of confirmed coronavirus cases in Africa, and fifth globally, with more…
Kenya’s biggest bank by assets has put on hold plans to expand into Ethiopia where fighting between the federal government and the restive Tigray region has killed hundreds of civilians, and now expects to only restructure 20% to 22% of its loans by the end of the year due to the fallout from COVID-19. Kenya…