A billion Africans and 50 million bank accounts. In South Africa, credit cards are used by only 16.5% of the population (2008). No African country comes close to 1% of total retail spend spent online - the magic figure which constitutes the tipping point for digital retail growth. No wonder, then, that the ecommerce market in Africa hasn't bloomed.
By Herman Manson: @marklives 12 May 2011 18:55
SA's biggest grocer, Shoprite, told I-Net Bridge/BusinessLIVE on Tuesday (29 March 2011) that as far as it was aware there was never a formal investigation by Zambian competition authorities regarding allegations that it was threatening to delist its suppliers who entered into agreements with Pick n Pay.
By Zeenat Moorad 31 Mar 2011 09:27
LUSAKA: Internationally-recognised credit ratings agency Fitch has assigned Zambia a B+ sovereign rating in recognition of the economic strides the country has taken under President Rupiah Banda. Zambia received the fourth-highest non-investment grade rating supported by a "stable" outlook from Fitch.
4 Mar 2011 10:01
NEW YORK, US: Consumer confidence fell in 25 out of 52 countries in Q4 2010 as hope for a global economic recovery evaporated at the end of last year, according to the latest edition of the Nielsen Global Consumer Confidence Index, which tracks consumer confidence, major concerns and spending intentions among online consumers.
27 Jan 2011 11:00
NEW YORK, US: After an upbeat start to the year with two consecutive quarters of increases in optimism, global consumer confidence fell three points in September to an Index of 90 as consumers' hopes for a full economic recovery this year fades in most parts of the world, according to the latest edition of the Nielsen Global Consumer Confidence Index.
27 Oct 2010 06:22
Game Stores has come a long way since it opened its first store in Durban in 1970 in cramped premises in the city's CBD, ringing up sales of R78 000 in its first month of trading. Its founders believed that shopping had become a tedious and boring pastime. They wanted to create a fun shopping environment and so conceptualised retailing as a game. The signature bright pink prevails to this day.
19 Jul 2010 08:43
LUSAKA: A raft of fuel price hikes that will affect agricultural production costs as well as consumer pockets is expected to drive food price inflation in Zambia, where about two-thirds of the population live on US$1 or less a day.
26 Jan 2010 08:37
LUSAKA: First National Bank announced yesterday, 27 October 2009, the launch of its Zambia operation. The operation was officially opened by the president of Zambia, President Rupiah Banda. The company's banking license was issued on 25 November 2008.
28 Oct 2009 10:20
SAMFYA: As food prices soar and stocks continue to fall, Zambians are finding it increasingly difficult to depend on maize and are being urged to look at a cheaper, drought- and pest-resistant alternative that already puts food on the table in the north of the country.
31 Mar 2009 16:19
Engen has invested an extra US$10 million in Engen Petroleum Zambia Limited (EPZL). The South African company made the announcement at a red carpet event on Thursday, 27 November, attended by dignitaries including Zambia's Minister of Commerce, Trade and Industry; the Malaysian Ambassador to Zambia and Zimbabwe; and the South African High Commissioner to Zambia.
28 Nov 2008 15:36
LUSAKA: The fall in international copper prices is causing unease in Zambia, one of the world's largest producers, whose impressive economic growth in recent years has been based on copper exports.
11 Nov 2008 09:17
The Zambian government signed a US$75 million financing agreement with the World Bank this week to provide electricity services to 65,000 new customers, in a country where power cuts have become the norm.
27 Oct 2008 09:19
Zambia's Finance and National Planning Minister, Ng'andu Magande has down-played fears that the death of the country's President Levy Mwanawasa could derail the country's economic prosperity.
By Gregory Gondwe 1 Sep 2008 12:10
A 60-member strong team, drawn from various sectors of economy in Zambia, were last Friday, gathered at Solwezi Provincial city to see how best they can explore trade and investment opportunities in the country.
By Gregory Gondwe 1 Sep 2008 11:38
Lusaka: A senior Zambian government official has called on local producers and manufacturers to take advantage of the recently launched Southern African Development Community (SADC) Free Trade Area (FTA) agreement to produce goods of high quality which can compete favourably in the region.
19 Aug 2008 12:37
Kobil Zambia, a fully-owned subsidiary of the Kenol Group with its head office in Kenya, has signed two major ventures in Zambia with a view to expanding its regional presence, and improving on supply chain logistics, market share and profitability.
2 Jul 2008 11:47
Struggling to boost its foreign currency reserves, a cash-strapped Zimbabwe government this week began charging duty in forex for imported footwear and clothing items, including underwear, we can reveal. A Zimbabwean opposition MP described the latest move as “absolutely barmy.”
13 Sep 2007 14:16
Zambia and Zimbabwe have signed a bilateral agreement that will see the transformation of Chirundu into a one-stop border post - and that will reduce transit times for imports and exports through border.
12 Sep 2007 14:24
The recent government order to Zimbabwean retailers to slash prices has had another unintended side-effect – banks rolling in cash and no one to spend it.
10 Sep 2007 15:03