Oluwatosin Alao

803 Articles

Tanzania’s Kwanza Resort puts Zanzibar luxury travel in spotlight

Luxury travel in Zanzibar is drawing fresh attention as more international tourists look beyond traditional beach destinations in Europe and the Middle East. The East African archipelago, known for its turquoise waters, spice farms and historic Stone Town, is steadily building a reputation as one of Africa’s leading high-end tourism markets. On the southern coastline of the island, Kwanza Resort…

Oluwatosin Alao May 21, 2026

Business Technology

South Africa’s CHARGE rolls out off-grid solar EV stations on key highway

South Africa’s electric vehicle infrastructure rollout is gaining ground along one of its most important freight routes, as private developers move to work around persistent limits in the country’s electricity system. The latest step comes from Zero Carbon Charge (CHARGE), which has begun deploying off-grid, solar-powered EV charging stations on the Johannesburg-to-Durban N3 corridor. The initiative highlights a practical shift…

Oluwatosin Alao May 20, 2026

Business Tourism

Giflo Property Developers, Som Group to build $35 million Cape Town office hub

Cape Town’s northern suburbs are set for a new wave of commercial expansion as Giflo Property Developers and Som Group move ahead with a $35 million joint venture to build the CapeGate Office Precinct in Brackenfell. The 50/50 partnership reflects rising demand for modern office space closer to where people live, as companies reassess long-standing ties to the Cape Town…

Oluwatosin Alao May 19, 2026

Business Hot News

Pick n Pay raises $282 million from Boxer stake sale to aid turnaround

Pick n Pay Stores Ltd., the South African grocery chain, has raised $282 million by selling part of its stake in discount retailer Boxer, giving the supermarket group more room to fund its recovery plan after one of the toughest periods in its history. The sale, confirmed on Tuesday, involved about 57.3 million Boxer ordinary shares, equal to roughly 12.5…

Oluwatosin Alao May 19, 2026

Business Hot News

South Africa regulator strips HSBC of forex license after 30 years

South African Reserve Bank Financial Surveillance Department has revoked the Johannesburg branch of HSBC as an authorised foreign exchange dealer, ending a relationship that stretched for more than three decades. The decision removes one of the lender’s remaining regulatory links to the country. The move reflects a broader shift among global banks reassessing their presence in parts of Africa and…

Oluwatosin Alao May 18, 2026

Tourism Business

Hilton expands South Africa footprint with new KwaZulu-Natal Tapestry hotel

Hilton is expanding deeper into South Africa’s tourism market with a new hotel project in KwaZulu-Natal, a province known for its wildlife, beaches and cultural attractions. The global hospitality group announced the signing of Umfolozi River Hotel, KwaZulu-Natal, Tapestry Collection by Hilton, in partnership with Umfolozi Hotel and Spa. The hotel will be built in Mtubatuba in northern KwaZulu-Natal and…

Oluwatosin Alao May 18, 2026

Business Global News

Absa eyes yuan platform amid booming China-Africa trade

China’s growing trade ties with Africa are pushing some of the continent’s biggest lenders to rethink how cross-border payments are handled. As businesses search for faster and cheaper ways to pay Chinese suppliers, banks are beginning to look beyond the U.S. dollar. Absa Group, the Johannesburg-based financial services provider, is among the latest lenders considering a direct link to China’s…

Oluwatosin Alao May 18, 2026

Business Technology

FNB, Pick n Pay roll out $35 million rewards boost for shoppers

South African consumers under pressure from rising food and living costs are increasingly turning to rewards programs to stretch household budgets, pushing retailers and banks to deepen partnerships built around everyday spending. First National Bank, a unit of FirstRand, and Pick n Pay Stores Ltd., the South African grocery chain said their joint eBucks initiative has delivered more than $35…

Oluwatosin Alao May 16, 2026

Business Technology

Varun Beverages launches $20 million Cheetos factory in Zimbabwe

Varun Beverages Zimbabwe, a key PepsiCo bottling and franchise partner and one of its largest operations outside the United States, has opened a $20 million Cheetos manufacturing plant in Harare. The project marks a shift toward local food production as the company expands beyond beverage bottling into snacks manufacturing. The plant was inaugurated by Zimbabwe President Emmerson Dambudzo Mnangagwa, reflecting…

Oluwatosin Alao May 16, 2026

Business Luxury

KCB eyes $54 million windfall from Prime Kenya land sale

KCB Group Plc, East Africa’s largest banking group by assets, is moving ahead with plans to raise about $54 million, or roughly Sh7 billion, from the sale of a long-disputed 2,000-acre parcel in Mavoko, Athi River. The land, tied to a past loan settlement, has become one of the bank’s most complex recovery cases in recent years. The lender is…

Oluwatosin Alao May 15, 2026

Business Technology

South Africa’s Eskom, Swiss Firm launch next-generation battery project

South Africa is stepping up efforts to overhaul its power sector as state-owned utility Eskom joins forces with Swiss energy storage company Energy Vault to develop a large-scale gravity battery project aimed at cutting the country’s dependence on coal. The project will be built at Eskom’s Hendrina Power Station in Mpumalanga, a coal-fired plant that has supplied electricity to South…

Oluwatosin Alao May 15, 2026

Business Exclusive

KFC bets big on South Africa with 100 new restaurant openings

KFC, the world's second-largest restaurant chain is planning a major expansion in South Africa, adding 100 new restaurants over the next year as it doubles down on its largest market on the continent. The move is expected to strengthen the chain’s lead in the country’s highly competitive fast-food industry. The fried chicken brand already operates more than 1,200 outlets in…

Oluwatosin Alao May 14, 2026