Aviation: Despite strong Passenger Traffic African Airlines suffer the strong Dollar

dollar

African airlines are expected to be put under immense pressure by a strong dollar throughout the course of 2017, and state-owned airlines particularly will need to carefully evaluate their route network. Vice-chairman of aviation consultancy Seabury, Michael Cox, said on Tuesday that in the 10-year period between the consultancy working on turnaround strategies for South African Airways (SAA), the underlying […]

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Africa: Hyperinflation fears as Zimbabwe set to print $75m notes

Zimbabwe says it will introduce “bond notes” equivalent to the US dollar by the end of next month to tackle cash shortages, but analysts raised concerns over a potential repeat of the excessive money printing that led to hyperinflation several years ago. The country adopted the US dollar and South African rand in 2009 after massive inflation wreaked havoc to […]

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South Africa Enjoys Spike in African Tourist Arrivals

The number of tourists arriving in South Africa every month has shot through the one million mark for the first time since 2009, signaling the industry’s recovery from last year’s decline. In January this year 1 012 641 tourists arrived in South Africa, 15.4% more than January last year. Month to month growth in arrivals began improving prospects for the […]

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S’African Retailer Exits Nigeria on Import Restrictions

South African retailer, Truworths has pulled out of its Nigerian business citing import restrictions, its chief executive said on Thursday. This, according to Reuters, could be a sign that President Muhammadu Buhari’s attempts to boost local industry are hurting foreign investment. As well as being unable to fill its shelves, the clothing retailer said it was struggling to pay its […]

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