Business Archives - Page 14 of 29

WeWork and SiSebenza Announce Franchise Partnership for WeWork South Africa

1Mar

By Africa BusinessNo Comments

Business, South Africa News

WeWork and SiSebenza Announce Franchise Partnership for WeWork South Africa

WeWork, the leading global flexible space provider, today announced a franchise partnership with SiSebenza, a pan-African real estate investor, giving SiSebenza the exclusive right to operate WeWork’s existing locations in South Africa. The deal also grants SiSebenza exclusive rights to grow and operate the WeWork franchise in Ghana, Kenya, Mauritius and Nigeria. The franchise partnership combines the strength of WeWork’s brand and product with SiSebenza’s proven local operating expertise. WeWork opened its first South Africa location in 2019 at WeWork The Link in Rosebank, Johannesburg, followed by WeWork 80 Strand in Cape Town and WeWork 155 West Street in Sandton, Johannesburg. WeWork has since seen strong demand from companies seeking flexible space solutions - this partnership will p...

Shopping for sustainability: online stores and e-commerce merchants answer growing consumer demand

28Feb

By Africa BusinessNo Comments

Business, South Africa News

Shopping for sustainability: online stores and e-commerce merchants answer growing consumer demand

While 92% of South Africans say sustainability is important to them, only 58% claim to live sustainably according to a 2022 study by global consumer insights agency InSites Consulting. It’s clear South Africans want to make a change; they just don’t know where to start. That’s where online retailers and e-commerce merchants come in, says Steffen Burrows, CURBON co-founder and director. The ‘sustainability paradox’, or the gap between acknowledgment (92% importance score) and action (42% not living sustainably), should be treated by brands as an opportunity. Since 86% of consumers believe that companies have a duty to take care of the planet, merchants and e-commerce businesses can help consumers overcome barriers to adopting more sustainable habits in their daily lives. This means makin...

Moving on up: Why change management matters in evolving workspaces

23Feb

By Africa BusinessNo Comments

Business

Moving on up: Why change management matters in evolving workspaces

Our workplaces are changing rapidly, with organisations redesigning their spaces to be more flexible and hospitable, moving to accommodate hybrid work practices, or simply relocating to downsize. While the reasons for moving are clear, there is often an inconsistent understanding and implementation of change management, which can result in overwhelmed employees, reduced productivity, and the loss of valuable talent, says Tango Matoti, who was recently appointed as Director of Workplace and Business Development at Tétris Design and Build. Change is a process, not a switch A well-defined change and communication strategy is crucial for people to embrace the new and for the spaces to work effectively. While workplace design is an important piece of the puzzle, it's not the only one. Change ...

21Feb

By Africa BusinessNo Comments

Business

Baker McKenzie’s Africa team wins Banking and Finance Legal Advisor of the Year and Best pan-African Law Firm

Global law firm Baker McKenzie has received GFC Media's Bonds, Loans & ESG Capital Markets Africa Banking & Finance Legal Adviser of the Year award for 2023. The firm also advised on four Deal of the Year transactions, showcasing the firm's impressive multi-jurisdictional client mandates in Africa. The firm advised on the following Deal of the Year winners: The Local Currency Sovereign, Supra & Agency Bond Deal of the Year - awarded to the Development Bank of South Africa (DBSA) for its ZAR 3 billion senior unsecured green bond private placement to PIMCO. Baker McKenzie advised Standard Chartered Bank as structuring advisor and placement agent on this transaction. DBSA is a leading development finance institution with the mandate to promote economic growth as well as regional...

Positive operating result for both Air France and KLM thanks to significant increase in revenues and transformation efforts

21Feb

By Africa BusinessNo Comments

Business

Positive operating result for both Air France and KLM thanks to significant increase in revenues and transformation efforts

Air France-KLM has confirmed that the company has bounced back from two years of massive losses as a result of the Covid-19 pandemic, returning to profit. The company confirms Strong Group capacity ramp up at 85% compared to 2019 with load factor at 84% Group revenues at €26.4bn, with highest fourth quarter revenues in history. Additionally, operating result at €1.2bn with operating margin at 4.5% above 2019 level (4.2%), despite surging fuel price. Air France-KLM confirms a positive net income at €0.7bn supporting the Group’s equity restoration. Positive Adjusted operating free cash flow at €1.9bn and solid cash at hand at €10.6bn Net debt down by €1.9bn euros, compared to end of 2021. Commenting on the results, Mr. Benjamin Smith, Group CEO, said: “Throughout 2022, Air France-KLM once...

21Feb

By Africa BusinessNo Comments

Business

Better Dispute Resolution key to opening up Africa opportunity

As the International Chamber of Commerce (ICC)'s Court of Arbitration celebrates its 100th anniversary this year, President Claudia Salomon describes the organisation's African ambition: to become the number one choice for dispute resolution and prevention services for African businesses - and to establish a major presence on the continent. A first focus for the Court’s Africa outreach has been selling the benefits of arbitration per se: ie articulating the confidence it gives businesses trading across borders, knowing that any disputes will be handled fairly, (ie in a forum that is neutral, independent and free from political bias), and that any decisions will be easier to enforce. Indeed the concept has been gaining traction for some time as Africa’s economies have grown, with local ar...

M&A Resilience Predicted in 2023, Despite Economic Uncertainty – According to 2023 Global Trends Report from Lex Mundi

21Feb

By Africa BusinessNo Comments

African News, Business

M&A Resilience Predicted in 2023, Despite Economic Uncertainty – According to 2023 Global Trends Report from Lex Mundi

Lex Mundi, the world’s leading global network of independent law firms, has gathered intelligence from member law firms across 71 jurisdictions to analyse recent and upcoming trends for its latest Global M&A Trends Report. A majority of M&A practitioners worldwide remain optimistic about the prospects for mergers and acquisitions in 2023. Despite concerns about the global economic situation, many experts believe that the number of deals across public and private transactions will either remain steady or increase. The report, which highlights the key global trends for M&A, was released today by Lex Mundi. The economic environment is identified, across all regions (other than Latin America and the Caribbean), as the pressing concern for private company M&A practitioners (2...

2Feb

By Africa BusinessNo Comments

African News, Business, Tanzania News

The impact of the African Continental Free Trade Area on the continent’s mining sector

By Virusha Subban, Partner specialising in Customs and Trade, and Head of Tax, Baker McKenzie, Johannesburg Africa is the world's top producer of numerous critical mineral commodities. With the rapid increase in the rate of global energy transition, the continent's mining industry has a role to play in sourcing and supplying these critical minerals for use in clean energy projects, manufacturing capacity, electric vehicles and other sustainable solutions. The continent is a large supplier of bauxite, chromium, cobalt, copper, diamond, gold, iron ore, platinum group metals, lithium, rare earth metals and zinc, for example, with most of them being exported as ores, concentrates or metals. Exporting these critical minerals as raw materials, however, reduces Africa's trading position to one ...

2Feb

By Africa BusinessNo Comments

Business, Rwanda News

Toggle Market’s B2B ‘Buy Now Pay Later’ continues its expansion across the African continent and now launches in Rwanda

Toggle Market’s B2B BNPL product Toggle Finance is aimed at SMEs seeking trade finance alternatives across multiple industry sectors, and is also available for all qualified customers of its marketplace Toggle Hospitality With a growing customer base for its trade, financing and freight & logistics services extending across Europe; the Middle East and in particular the GCC and Jordan; Africa in Kenya, South Africa, Congo, Nigeria; and now all services operational in Rwanda. Toggle Market operates and develops B2B e-commerce marketplaces and provides cross-border trade and commerce solutions designed to support SMEs. Toggle Market announces the launch of Toggle Finance, it’s innovative B2B product aimed at SMEs seeking supply chain trade finance and payable financing alternativ...

Senzo Tsabedze’s 7 Things to expect in the Fleet Management sector in Africa in 2023

24Jan

By Africa BusinessNo Comments

Business, South Africa News

Senzo Tsabedze’s 7 Things to expect in the Fleet Management sector in Africa in 2023

2022 was a progressive year in the fleet management industry worldwide with several companies regaining their usual momentum that was disturbed by COVID-19 from early 2020 into 2021. Today, we get an expert forecast on what we should expect to happen in the fleet management sector this year in Africa from Senzo Tsabedze. Senzo Tsabedze is a South African fleet management executive and founder of Afrirent Fleet which he established in 2003. This year marks exactly 20 years since he ventured into fleet management becoming the first black South African to establish a fleet management entity in the country’s history. Reporter: With your experience, what do you see happening in 2023? “Well based on the current trends and developments in the fleet management sector, I believe that the industr...