AG Reports R1.6 Billion Loss in Municipal Funds Linked to Defunct VBS Bank Investments
The Auditor General (AG) has reported that municipalities lost R1.6 billion after investing in the now-defunct Venda Building Society (VBS)…
Tag: Billion
Transnet CEO Aims For R1 Billion Profit Despite R7 Billion Loss, Plans To Borrow More
Transnet’s Group CEO, Michelle Phillips, is optimistic that the struggling state freight company can bounce back from its R7 billion…
Digital Push Could Add $5 Billion to South Africa’s Economy
South Africa’s digital economy could see a $5 billion boost if it addresses current deficiencies, according to a report by…
Ghana Commences Construction of $12 Billion Petroleum Hub
Ghana’s President Nana Akufo-Addo has flagged off the construction of a 300,000 barrel-per-day refinery in Jomoro, a city in the…
South Africa Faces Irrecoverable R14 Billion Loss Due to Government Irregularities, Says Auditor General”
Auditor General (AG) Tsakani Maluleke has revealed that almost R14 billion in material financial losses is unlikely to be recovered.…
Ethiopia to Save $4.9 Billion After Restructuring its Debts
Ethiopia will save $4.9 billion once it completes its ongoing debt restructuring exercise, according to State Finance Minister Eyob Tekalign.…
Ethiopia’s Currency Float Decision Leads to $1 Billion World Bank Credit
Ethiopia has secured a $1 billion credit from the World Bank, following the country’s decision to allow its currency to…
Billion Dollar Losses for Africa’s Cocoa Traders
Trading houses are facing at least $1 billion in losses due to Ghana’s failure to deliver cocoa beans this year.…
SARS Distributes Over R10 Billion In Refunds As 2024 Tax Season Commences
The South African Revenue Service (SARS) has announced that it has already refunded more than R10 billion to taxpayers with…
Dangote Group Reveals Plans to Achieve $30 Billion in Revenue by 2025
The Dangote Group aims to generate $30 billion in revenue by 2025 and become Nigeria’s largest foreign exchange supplier. If…