RAA Africana

The Zimbabwe Gold (ZiG) currency has seen a notable appreciation, driven by a recent surge in global gold prices and an increase in Zimbabwe’s foreign-exchange reserves. According to the Reserve Bank of Zimbabwe, the ZiG reached 25.98 USD, marking its highest value since January 8.  Introduced in April 2024 to replace the depreciating Zimbabwean dollar, the ZiG was designed to bring monetary stability by being backed with physical assets. The currency’s backing includes 2.5 tons of gold and 100 million in foreign currency reserves, making it more resistant to volatility. In 2025, the ZiG has only depreciated by 0.7% against the US dollar, a performance considered strong by analysts given Zimbabwe’s economic history. The central bank has credited the support of commodities like gold and prudent fiscal policy for the relative success. Economists say the ZiG’s recent gain is also linked to the global rally in gold prices, which has raised the market value of Zimbabwe’s gold reserves. ...

Varun Beverages Ltd (VBL), one of the largest franchisees of PepsiCo globally, has announced the acquisition of South African beverage manufacturer Twizza Proprietary Limited for approximately 125 million. The move marks a strategic step toward strengthening VBL’s presence in Africa, a region the company views as a key growth market.  The deal includes three manufacturing plants operated by Twizza, which is known for its backward-integrated production model of non-alcoholic beverages. This acquisition enables VBL to expand its production capacity, distribution network, and market share across Southern Africa. VBL, which already has a significant footprint in beverages and snacks, is diversifying further. The company recently entered a distribution agreement with Carlsberg for beer in select Indian states, signaling its interest in expanding across both alcoholic and non-alcoholic segments. With domestic growth in India facing temporary slowdowns due to macroeconomic and climatic fa...

South Africa has retained its title as Africa’s richest country by total wealth, with a gross domestic product (GDP) of approximately 410 billion, according to recent data from Henley & Partners. The nation remains a continental leader in both economic size and personal wealth, hosting more than 41,000 millionaires and eight billionaires, the highest concentration in Africa. Analysts attribute this economic strength to a combination of ongoing reforms, improved energy supply, and significant infrastructure development across key sectors. These measures have helped to restore investor confidence, particularly in urban centers and financial institutions that serve as the backbone of the country's economy. The easing of power shortages, following years of electricity instability, has also contributed to a more favorable investment climate. The government's partnerships with private sector stakeholders in the energy and transport sectors are aimed at enhancing productivity and ...

Namibia has recorded a historic shift in its mining sector, as revenue from non-diamond minerals has overtaken earnings from diamond exports for the first time. This significant milestone is largely driven by a surge in uranium production and rising gold prices, which have boosted government income and changed the dynamics of the country's traditionally diamond-dominated economy. According to the Ministry of Mines and Energy, uranium output in Namibia rose by an impressive 22% in 2025, making the country the third-largest uranium producer globally. The global push for cleaner energy and renewed interest in nuclear power have increased uranium demand, allowing Namibia to command higher export prices. At the same time, gold prices surged on international markets, further strengthening revenues from mining royalties and taxes. In contrast, Namibia’s diamond sector has faced notable challenges. Natural diamond prices have declined globally due to oversupply and growing demand for cheap...

  Lagos, Nigeria – BUA Group celebrated a remarkable evening of recognition and appreciation, honouring employees for their dedication, years of service, and contribution to the company’s growth. The event, described as a “Night of Excellence,” brought together staff and stakeholders to applaud the human capital behind the Group’s continued success. Chairman Abdul Samad Rabiu, widely respected for his philanthropic and people-first leadership approach, was commended for fostering a culture of recognition and care. His remarks reflected his commitment to building not just a strong business, but a purpose-driven community within the organisation. The ceremony highlighted the sacrifices and perseverance of long-serving team members, with awards given across various departments and levels. Many recipients expressed gratitude for being part of a company that values loyalty and commitment. Industry observers say BUA Group’s gesture is a powerful reminder of the importance of human connec...

New Delhi, India In a disturbing case of online fraud, an Indian woman has reportedly lost ₹2.5 lakh to a man posing as a UK-based groom who promised to marry her. The victim filed a complaint after realizing she had been misled, prompting a cyber crime investigation now underway by local authorities. The woman, who connected with the alleged fraudster via a social media platform, was lured into an emotional relationship. The man claimed to be a UK citizen seeking an Indian bride and quickly gained her trust through daily communication, video calls, and promises of settling down together in the United Kingdom. After establishing rapport, the fraudster asked the woman to transfer money for various "formalities," including visa fees, courier charges for expensive gifts, and customs clearance — all under the pretense of preparing for marriage and moving her abroad. Believing the promises, she transferred ₹2.5 lakh in multiple transactions over a short period. When the groom stop...