Tag: Africas

UPDATE 3-South Africa’s Woolworths reviews strategy in bid to revive profit

* Full-year HEPS down 65.1%

* Sales dip on store closures

* Food and online only star performers

* Reviewing S. African fashion business (Adds CEO presentation on strategy review, DJ cost cut initiatives)

JOHANNESBURG, Sept 17 (Reuters) – Woolworths Holdings is reviewing its South African clothing business and the food division of Australian unit David Jones to respond to fashion trends and stem losses amid a slump in earnings, its chief executive said on Thursday.

Roy Bagattini, who took over as CEO of the fashion and food retailer in February, is on a mission to improve the performance of the David Jones department store chain. His predecessor Ian Moir paid a premium to bulk up in Australia and turn the company into a leading southern hemisphere retailer.

“Although some progress has been made, our David Jones business has simply not transitioned fast enough,” Bagattini told analysts on Thursday during

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South Africa’s ANC Stalls Plan to Nationalize Central Bank

The headquarters of the South African Reserve Bank in Pretoria.

Photographer: Waldo Swiegers/Bloomberg

A top South African ruling party official said plans to nationalize the central bank will be shelved as the government wrestles with getting the coronavirus-stricken economy back on track.

The country doesn’t have the “massive resources” that may be needed to buy out the bank’s private shareholders and spending the money would be unjustified in the current economic climate, said Paul Mashatile, the treasurer-general of the African National Congress.

“We would not want to rush to go in that direction because there are other implications,” he said in an interview. “Our view is that we want these resources to be channeled rather to infrastructure projects.”

The ANC decided at a conference in 2017 that the state should take ownership of the South African Reserve Bank, one of a handful of central banks owned by

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Health Tech Pins Hope on Africa’s Pandemic Shift to Online Care | Technology News

LAGOS (Reuters) – When Loveth Metiboba’s baby had diarrhoea, she worried that taking him to a clinic near her home in Nigeria’s capital, Abuja, might expose them both to the coronavirus.

“The idea of going to the clinic was very scary,” said Metiboba, a researcher for a charity.

Instead, the clinic, run by Nigerian health technology firm eHealth Africa, sent her a web browser link to hold a video chat with a doctor who diagnosed her son with a mild illness and prescribed medicine to avoid dehydration.

Across the globe, the COVID-19 pandemic has accelerated changes in the way medicine is practised as medical care increasingly begins with an online consultation rather than a face-to-face meeting.

But the opportunities in Africa, where access to medical care is often restricted, are transformational and offer growth prospects to companies that provide online consultations and online sales of medicine.

Mukul Majmudar, chief executive

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Health tech pins hope on Africa’s pandemic shift to online care

By Alexis Akwagyiram

LAGOS (Reuters) – When Loveth Metiboba’s baby had diarrhoea, she worried that taking him to a clinic near her home in Nigeria’s capital, Abuja, might expose them both to the coronavirus.

“The idea of going to the clinic was very scary,” said Metiboba, a researcher for a charity.

Instead, the clinic, run by Nigerian health technology firm eHealth Africa, sent her a web browser link to hold a video chat with a doctor who diagnosed her son with a mild illness and prescribed medicine to avoid dehydration.

Across the globe, the COVID-19 pandemic has accelerated changes in the way medicine is practised as medical care increasingly begins with an online consultation rather than a face-to-face meeting.

But the opportunities in Africa, where access to medical care is often restricted, are transformational and offer growth prospects to companies that provide online consultations and online sales of medicine.

Mukul

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INSIGHT-Health tech pins hope on Africa’s pandemic shift to online care

By Alexis Akwagyiram

LAGOS, Sept 7 (Reuters)When Loveth Metiboba’s baby had diarrhoea, she worried that taking him to a clinic near her home in Nigeria’s capital, Abuja, might expose them both to the coronavirus.

“The idea of going to the clinic was very scary,” said Metiboba, a researcher for a charity.

Instead, the clinic, run by Nigerian health technology firm eHealth Africa, sent her a web browser link to hold a video chat with a doctor who diagnosed her son with a mild illness and prescribed medicine to avoid dehydration.

Across the globe, the COVID-19 pandemic has accelerated changes in the way medicine is practised as medical care increasingly begins with an online consultation rather than a face-to-face meeting.

But the opportunities in Africa, where access to medical care is often restricted, are transformational and offer growth prospects to companies that provide online consultations and online sales

Read More