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Ethiopia Supermarket To Shut Down After Seven Decades.

An Ethiopian supermarket reputed for serving expatriate and diplomatic community in the capital Addis Ababa is closing down its operations after close to seven decades. Ethiopia’s The Reporter newspaper quotes owner of Bambi’s supermarket as saying foreign exchange squeeze coupled with administrative bottlenecks were to blame for his decision. According to Charalambos …

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Mauritius freezes 58 bank accounts linked to Angola’s sovereign wealth fund.

Mauritius has frozen bank accounts and suspended business licenses linked to Quantum Global Investment Management, a firm through which Angola’s sovereign wealth fund invests much of its cash, according to a court document and a regulatory source. Quantum Global, which said it was cooperating with authorities, is run by Jean-Claude …

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Egypt: Court lift ban on Uber and Careem

An Egyptian court ruled on Saturday that a judicial decision to suspend the licences of ride-hailing companies Uber and Careem should not be applied, allowing them to continue their work, judicial sources said. Forty-two Egyptian taxi drivers filed a lawsuit in the administrative court a year ago against U.S.-based Uber …

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South Africa: Economists want Ramaphosa to boost economy.

Economists are hoping to see stability and better economic growth in South Africa under the presidency of Cyril Ramaphosa. As the nation’s Finance Minister Malusi Gigaba prepares to present the 2018 budget on Wednesday,the economists also want to see a strong rand. “We need to drive growth in this country.” …

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Nigeria: Wiz-kid Partners with Nike on Star Boy Jersey Project.

Nigerian and international singing sensation Wizkid of the StarBoy brand fame has signed a deal with the sportswear giant Nike to produce and sell the Star Boy jerseys. Fans of the ‘Daddy Yo’ star have been expressing their excitement and anticipation to own their own replicas of the jersey that …

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Kagame starts A.U. reign with business forum.

The new African Union chairperson, Paul Kagame, kicked off his reign with a Business and Investment Forum where he strongly advocated for active private sector participation in the African governance process. Kagame in his remarks held that the earlier African governments realised they cannot serve their citizens without private participation, …

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