Author: Aishat Olalere

Judge Mandisa Maya has been appointed as the First female Chief Justice of South Africa. This was declared in a statement released by the office of the Presidency on Thursday. Maya will resume her position on September 1, replacing Chief Justice Raymond Zondo whose term ends on August 31. Maya’s appointment follows an interview with the Justice Service Commission on May 21 to ascertain her suitability to be appointed as Chief Justice of South Africa. The Presidency said in a statement that before appointing Maya, Ramaphosa consulted with the Judicial Service Commission and the leaders of political parties represented in…

There has been an increase in dissatisfaction of workers in Sub-Saharan Africa as workers experience greater levels of stress, anger, sadness, and loneliness after a day at work. A Gallup Survey revealed base on global workplace that about 81% of workers in Sub- Sahara Africa are actively seeking for a new job or better opportunities. About 16% of Kenya workers under the survey believe that they are striving in their current workplace. It was also surveyed that about 20% of Nigerians and 32% of South Africa are also striving in their current work place. Senegal has the highest percentage of…

Rwanda’s Government has dismissed the Public Service and Labour minister, d’Arc Mujawamariya, from her position. This occurs exactly after a month Mujawamariya was transferred to the Labour docket. This was announced in a statement released and signed by Prime Minister Edouard Ngirente on behalf of President Paul Kagame on Thursday, July 25. Mujawamariya, who has been one of the longest serving Cabinet ministers, was appointed Minister of Public Service and Labour on June 12, replacing Jeannette Bayisenge. She also served as Minister of Gender and Family Promotion (2011-2013), and Minister of Education (2006-2008). In the Ministry of Education, Mujawamariya also held…

Midoil Refining and Petrochemicals Company Limited has commence construction activities in Lagos. Midoil performed the turning of sod ceremony at Shekungba, Ikosi/ Ejinrin Local Council Dwvelopment Area of Lagos state. The turning of the sod ceremony marks as the commencement of construction activities. The Executive Chairman of Midoil, Mrs Elizabeth-Omolara Akintonde, led dignitaries to the large expanse of land spanning various communities at Ikosi/Ejinrin Local Council Development Area. Akintonde said Midoil refinery would boost Nigeria’s energy landscape with a refining capacity of 100,000 barrels per day. Akintonde assured leaders and members of the communities that the refinery would transform their…

Bayer Pharmaceuticals and Consumer Health has completed the transformation of its new business model in East Africa. The transformation is to simplify the business value chain, reduce lead time between production and distribution, and reach more patients and customers. The new business model is for Bayer to outsource transportation, local warehousing, distribution, and customer support to Imperial Distributors. Imperial is handling the distribution aspect of the value chain, while Bayer’s legal entities in Kenya continue to manage business-related corporate affairs, including medical affairs, media relations, and stakeholder management such as government and partner relations. The transformation, dubbed ‘Smart Serve,’ took…

The Annual Consumer Inflation Rate of South Africa has dropped to 4.6% in the month of June. The decline occured after stalling at 4,7% in April and May, the annual rate for food and non-alcoholic beverages (NAB) declined to 4,6% in June. Food and NAB inflation has declined from its recent peak of 14,0% in March 2023. June’s reading is the lowest since September 2020. Several food and NAB categories registered lower annual rates in June, including sugar, sweets and desserts; vegetables; fruit; milk, eggs and cheese; and fish. Inflation quickened, however, for hot beverages; bread and cereals; oils and…

Tesla, Elon Musk’s electric vehicle company, has reported a 45 percent decrease in second quarter profit to $1.5 billion. The drop in profit has been reported to be as a result of price cut while investing aggressively on autonomous driving and other technology. Tesla laid off 10 per cent, about 14,000 worker, of its global staff this year as part of a push to cut expenses to finance major new investments. The Chief Financial Officer of Tesla, Vaibhav Taneja, said that reorganization also resulted in one-time expenses of $622 million in the second quarter due to severance and other costs,…

The African Natural Capital Alliance (ANCA) and FSD Africa has researched on how business profits could be impacted by different nature-positive transition scenarios. They released a report giving details on the findings of the nature stress test conducted on the banking systems of five African countries, including Rwanda and Zambia. The report was conducted in partnership with McKinsey. The report is titled “Nature Stress Test: Assessing Exposure of Five African Banking Systems”, This is the first report on assessing the implications for African economies of the Kunming-Montreal Global Biodiversity Framework (GBF) which was agreed in December 2022 and sets out…

Mercury Bank has decided to close all business account in 37 countries around the world. This will be effective from 22nd August, 2024. This move has caused jitters within the continental startup ecosystem. African countries to be affected include: Nigeria, Sudan, South Sudan, Cameroon, Burundi, Congo Republic, DRC, Zimbabwe, Somalia, Mali, Liberia, Mozambique, and the Central African Republic. The announcement has led to lamentations from tech startup founders on social media The tech startup sees the action as discriminatory, citing that they have no choice but to look for alternative banks to furnish their operations. The digital bank based in…

Nikhil Rustam Hira has been appointed as the Board Chairman of I&M Bank Rwanda. Hira was appointed on July 15 replacing Bonaventure Niyibizi who retired from service. Hira was formerly on the board as an Independent Director and Chairperson of the Board Audit Committee as well as a member of both the Board Credit Committee and the Board Strategy Committee. Benjamin Mutimura, CEO of I&M Bank Rwanda, welcomed Hira stating: “His visionary leadership and deep understanding of the industry will be invaluable as we continue to drive our strategic initiatives and enhance value for our stakeholders. We are confident that…