Tag: South Africa
-
Nigeria Among Top Three Investment Destinations in Sub-Saharan Africa, KPMG Reports
KPMG’s latest report, ‘Doing deals in sub-Saharan Africa 2024,’ has identified Nigeria as one of the top three destinations for future investments in sub-Saharan Africa over the next two years, alongside South Africa and Kenya. The survey of international and domestic investors shows South Africa leading with 28 percent of expected investments, followed closely by…
-
Mobile Money to Bank: MTN Targets Banking Licence
MTN is preparing to acquire a banking licence once the South African Reserve Bank (SARB) opens its national payments system to non-banking entities. Currently operating MTN Mobile Money (MoMo), a limited transactional banking service, the mobile network operator sees an opportunity to become a more comprehensive financial service provider. MoMo has already grown to 11…
-
Access Bank to Acquire Bidvest Bank in Major South African Expansion
Access Holdings Plc has announced a binding agreement to acquire a 100% equity stake in Bidvest Bank Limited, a strategic move aimed at expanding its presence in the South African financial market. The acquisition, expected to be completed in the second half of 2025, involves purchasing Bidvest Bank, a profitable financial institution established in 2000.…
-
South Africa Announces 5-Year Multiple Entry Visa for Nigerians
South African President Cyril Ramaphosa has announced a new visa policy for Nigerian entrepreneurs and tourists, allowing qualifying Nigerian business people to obtain a five-year multiple entry visa without submitting a passport. “Our efforts to create a favourable environment include our simplified visa process for Nigerian business people to travel to South Africa,” said Bayo…
-
Nigeria Seeks South Africa’s Backing for G20 and BRICS Membership
Nigeria has initiated a strategic diplomatic effort to secure full membership in the G20 and BRICS, targeting South Africa’s support in expanding its global economic influence. Presidential spokesperson Bayo Onanuga disclosed this while highlighting the potential to join a group that currently represents approximately 37 percent of the world’s gross domestic product. The diplomatic overture…
-
Tinubu to Co-Chair Nigeria-South Africa Bi-National Commission Meeting in Cape Town
President Bola Tinubu is set to depart France on Monday for Cape Town, South Africa, where he will co-chair the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) alongside South African President, Cyril Ramaphosa. The Presidential BNC, scheduled for Tuesday, December 3, will be preceded by a ministerial meeting on Monday at the South…
-
Mozambique Election Chaos Prompts South Africa Border Closure, Deadly Protests
Mozambique’s Contentious Election Outcome The political air in Mozambique has been thrust into turmoil following the disputed results of the country’s recent presidential election. The opposition candidate, Venancio Mondlane, has alleged widespread fraud in the Oct. 9 poll, which saw the ruling Frelimo party’s candidate declared the winner. The electoral commission has declined to comment…