Tongaat Hulett suspends Zimbabwe sugar cane pre-payments over lending freeze

By Nelson Banya May 12 (Reuters) – South African sugar producer Tongaat Hulett Ltd’s TONJ.J Zimbabwean subsidiaries have suspended advance payments for cane deliveries after the Harare authorities told banks to stop lending, the company said on Thursday, exposing farmers to possible cashflow problems. Tongaat Hulett’s two Zimbabwe subsidiaries, the 50.3%-controlled Hippo Valley Estates Ltd HIPO.ZI and the wholly-owned Triangle Limited…

South Africa’s MTN first-quarter pretax profit up 21%

JOHANNESBURG, May 13 (Reuters) – South African mobile operator MTN Group MTNJ.J said on Friday first quarter pretax profit rose 21.1% year-on-year, supported by service revenue growth amid demand for data and financial services. MTN, with 276 million customers in 19 countries across Africa and the Middle East, said service revenue came in ahead of its medium-term target, growing…

Africa’s Secondary Cities Can be the Engine of Sustainable Economic Growth

The COVID-19 pandemic and the current shock to the system from the war in Ukraine have left African economies hanging by a thread. National debt has reached distressed levels across the continent, with even formerly high-performing economies such as Ghana, Egypt, and Tunisia on the verge of defaults, bailouts, or both.   Next week’s 9th Africities Summit, in Kisumu,…

CAR : Call for justice on 8th anniversary of French journalist’s murder

French photojournalist Camille Lepage, 26, was killed while covering the deteriorating situation in the Central African Republic Monday May 12, 2014. 8 years after the death of French journalist Camille Lepage, NGO Reporters without borders denounced on Wednesday investigations that made no headway. The Central African Republic and France opened investigations following the killing in…