The township entrepreneur who built his spinach empire with less than $3

Lufefe Nomjana (also known as the Spinach King) is the 28-year-old South African entrepreneur building a business empire around spinach in the Cape Town township of Khayelitsha.

His company, Espinaca Innovations, runs its own bakery from a renovated shipping container and produces spinach bread, as well as other spinach-based products like muffins and sandwiches, for Spar (a local retailer) outlets around Cape Town. It also has its own bicycle delivery service to supply local offices and consumers with healthy meals.

This month the business launched its second café and bakery, located in the Khayelitsha Mall, through a sponsorship from health club group, Virgin Active. And it is also set to open a new factory in August. Here Nomjana plans to scale production of his ‘banting bread’ – a low carbohydrate alternative to traditional bread – which has become particularly popular among Cape Town consumers.

Never give up on your dreams - The story of Jack Ma China's richest man

Jack Ma

On February 21, 1999, Jack Ma made a presentation to 17 of his closest friends in his Hangzhou, China apartment. He asked them to believe in him, and invest in his new business. Unfortunately, a review of Jack's past revealed a string of hapless failures.

As a young man, Jack had failed in coursework and exit exams at school. He applied to his favorite universities numerous times and was never accepted. Later, he applied to 30 different jobs and was rejected every time. 

Econet introduce ‘smart data network’

Econet Wireless on Wednesday introduced a new thematic data campaign “Smart Data” in a major milestone set to promote internet use and enhance customers’ experience.

Econet customers can enjoy accessing the Internet on high speeds as Econet has the widest data coverage in the country.

Econet Wireless chief executive officer, Douglas Mboweni said the new campaign was aimed at creating awareness of the vast opportunities at the disposal of Econet customers when they access the Internet on our Smart Data Network.

Potraz to slash mobile service data charges

Mr Ozias Bvute

GOVERNMENT is engaging mobile service providers to slash prices of data within the next month in an effort to make internet services more affordable, Postal and Telecommunications Regulatory Authority of Zimbabwe, chairman Mr Ozias Bvute says.

“In the next month, we should be at a point where data is affordable. We do not want price to be used as a tool for discrimination,” said Mr Bvute.

He was responding to questions at a meeting to promote dialogue between the regulator, industry stakeholders and innovators in Harare yesterday. He said reducing prices of data will enhance internet accessibility and connectivity with the rest of the world.

Flea markets, hair salons net $350m in Zimbabwe

Zimbabwe’s flea markets and hair salons are proving to be a safe haven for the country’s unemployed with the retailing sector raking in over $350 million annually, a recent study has shown.

“Harare province had the largest proportions of both flea markets and salon operators constituting 25 percent and 19,8 percent respectively…

“The value and percentage distribution of income in flea markets and hair salons classified by income indicated that total income realised in flea markets was $337,7 million compared to $21,2 million in hair salons,” read part of the report.

The two sectors jointly employed 9 253 employees in the period the study was undertaken, with the figure expected to have gone up as the economy informalised driven by company closures and massive job cuts.

Africa's richest man plans to buy Arsenal FC

Aliko Dangote

Aliko Dangote, Africa/Nigeria’s richest man, has clearly re-stated his plans to buy London-based professional football club 'Arsenal' , in four years time. 

In an interview with Bloomberg TV in New York on Wednesday, Dangote stated that there’s no doubt he’ll buy Arsenal and it’s not a problem of money.

“Maybe three to four years. The issue is that we have more challenging headwinds. I need to get those out the way first and start having tailwinds. Then I’ll focus on this.”

Dangote, reportedly worth around £8.3billion, announced his intention to buy Arsenal last year. But his business prospects needs to improve and investments in gas pipelines/oil refinery have to to pay off before making the expensive acquisition.

Hwange Colliery set to retrench over 1 000 employees

Troubled coal miner, Hwange Colliery Company Limited (HCCL), is set to retrench over 1 000 employees and dispose of its non-core assets in an effort to streamline operations, a Cabinet minister said.

Finance minister Patrick Chinamasa last week announced that government — with a 37 percent shareholding in HCCL — was implementing various measures to revive the country’s largest coal producer.

He said the measures ranged from the disposal of non-core assets — which include provision of housing and other related amenities, schools, and health facilities — to job cuts, saying the group’s 3 200 workforce was bleeding the company, stating HCCL could only support 800 workers.

Malawian entrepreneur shuns city life for agriculture

Rose Chisowa

In Malawi, a 34-year-old university graduate has shunned formal employment in the city for life on the farm, and she is making a name for herself as an agro-entrepreneur.

Rose Chisowa shares her dreams as she waters her garden. It is part of the two-hectare piece of land she hopes will make her dreams come true.

“I want to be one of the richest women not only in Malawi but the whole world. That’s my dream,” said Chisowa.

The journey started three years ago when she bought four piglets.

Inspiration: Blind Couple making serious business with their crafts

Disability does not mean inability so the saying goes. Below is an inspiring story about a blind couple who have turned their skills into a thriving business. 

These two both live with blindness. But they are successful; they do not give up and earn their way through life.

His name is Jimoh, and hers is Bridget . They got married back in 2014. Both of them are blind, but that does not stop them from being successful in business. Many people whine about the lack of jobs. These people are done complaining and are busy working!

Barclays Bank Zim suspends Visa transactions as Cash Crisis bites

Barclays Zimbabwe has suspended all local Visa card transactions due to the worsening cash crisis, according to a report by ITWeb Africa.

A senior executive at Barclays Zimbabwe, Valeta Mthimkulu, said “it didn’t make sense anymore” for the bank to support Visa transactions with liquid cashouts to card holders.

“When you use your Visa card locally, as a bank we need to settle the transaction account through our offshore Nostro account.

Why You Should consider Investing in Zimbabwe now

File pic

The news coming from the Western press about Zimbabwe leaves little to be desired about the contry. President Robert Mugabe, Zimbabwe’s leader since 1980, has been called many things — from enigmatic despot to educated visionary. Both descriptions may be fitting at times, depending on the political perspective one adheres to.

The Zimbabwe economy has seen rough days. Hyperinflation decimated the economy, particularly between 2005 to 2008. At its peak, the Zimbabwean Central Bank issued currency with expiration dates of six months, effectively longer than the actual life of the currency.

Adidas plans to extend Yeezy collection, deal likely to make Kanye a Billionaire

Kanye West

Kanye West's Yeezy line has proved such a hit for Adidas that the sportswear firm is extending its partnership with the rapper that began two years ago.

On Wednesday, Adidas announced it's moving forward with an expanded Yeezy product range and plans to open retail outlets to sell the athletic shoes and other gear and accessories to be designed by Kanye.

We are heading towards disaster - Richard Branson

Founder and C.E.O of Virgin Group Richard Branson has revealed that the economic effects of Britain's exit from the EU has resulted in Virgin Group cancelling a deal worth 3,000 jobs.

The billionaire businessman said the company had made the decision to pull the plug on "a very big deal" because of the the uncertainty created by last week's vote to quit the EU, saying his company may have lost up to a third of its value.

Appearing on ITV's Good Morning Britain, he added: "The pound has collapsed to its lowest level in 30 years. This country is going to go into recession, two of the worst days ever. Banks being pounded means they are not going to lend money."

Video: The Inspiring Story of Annette, the Supermum Entrepreneur from Uganda

Annette is a single mother of two, and versatile entrepreneur, who has defied the odds to achieve amazing success in businesses that are traditionally associated with men.

Annette wakes every day at 2am to start her first business of the day. She sells well-packaged spiced tea at major spots in Kampala, the Ugandan capital.

In the afternoon and early evening, she switches over to her other business, cleaning shoes for office workers and corporate clients. Through this business, she has bought four vehicles to serve her expanding customer base. Amazing!

For her hardwork, Annette banks 400,000 Ugandan Shillings (about $115) in profits everyday. Yes, every day! Watch the full video below after the cut...

VP Mnangagwa calls for diasporans to invest back home

Zim Vice President Mnangagwa

VICE PRESIDENT Emmerson Mnangagwa has said every citizen and stakeholder has got a duty to make Zimbabwe prosper, adding that those in the diaspora must come and invest in their country.

Mnangagwa was speaking during ‘Ease of Doing Business Review” symposium organised by the Office of the President and Cabinet in conjunction with Zimpapers in Harare on Thursday.

He told the business reforms symposium that Zimbabwe needs dialogue, adding that where mistakes have been made there should be a way to rectify them.

“We should be able to identify the anchors of our economy in order to capitalise on them. Agriculture and mining is one of them,” he said.

Tendai Biti's Party PDP roasts Clueless RBZ Governor

Under fire RBZ Governor

THE opposition People’s Democratic Party (PDP) has demanded an audit of the Reserve Bank of Zimbabwe (RBZ) accounts which it says will lift the lid on the real causes of the current cash crisis.

In a statement Wednesday, party secretary for finance and economic affairs, Vince Musewe accused the central bank of being the real cause of the current cash crunch that has seen banks limiting cash withdrawals by depositors.

To remedy the situation, the RBZ has belled the cat though an unpopular decision to introduce bond notes into circulation while blaming the crisis on a slew of reasons, among them a giant national import bill which was disproportionate to its exports.

The development has triggered panic withdrawals among bank account holders still with fresh memories of the 2008 economic turmoil characterised by a record inflation which scaled 230 million percent.

A 61-year old Businessman who rose from humble beginnings to become the richest Chinese in the world

Wang Jianlin is thought to be the richest Chinese person in the world.

The 61-year-old, who is the chairman of the Dalian Wanda Group, was estimated by the Hurun Research Institute to be worth more than £20billion following the recent flotation of several assets.

The billionaire has previously been ranked by Forbes as the richest man in China and the 29th richest man in the world.

Wang, who was born in October 1954 in Sichuan, south west China, followed in the footsteps of his father by joining the People's Liberation Army aged just 15. After a period working in politics, he turned his hand to business.

In 1988, he founded Wanda Group in Dalian, eastern China, reportedly with just $80,000 (£53,000).

The conglomerate now owns hundreds of shopping malls, five-star hotels, cinemas and karaoke chains around the world.

The Inspiring Journey From Refugee, To School Dropout, To Africa’s Youngest Billionaire

Ashish Thakkar's company Mara Group is shareholder in BanABC Zimbabwe

Ashish Thakkar’s Twitter biography doesn’t identify him as “Africa’s youngest billionaire,” or “CEO and founder of The Mara Group,” a globally renowned multi-sector investment group — the first word is “refugee.”

34 year-old Thakkar’s family is Indian by heritage, but has lived in Africa for four generations. Thakkar was 13 and living in Rwanda when the 1994 genocide forced his family to relocate to Uganda.

His family’s efforts to rebuild their lives inspired him to drop out of school at 15 and start an IT business, buying and selling computer parts. That business eventually evolved into the Mara Group, a company that spans the technology, banking, manufacturing and real estate sectors.

ZPC planning to cancel multi-million dollar Energy deal with Wicknell's company

ZIMBABWE Power Company (ZPC) bosses are stepping up efforts to cancel convicted fraudster Wicknell Chivayo’s murky multi-million-dollar energy deals which have caused uproar at the company and in public, it has emerged.

The power-generating firm also wants to cancel the US$5 million advance payment irregularly paid to the controversial youthful businessman in the US$200 million Gwanda solar project amid indications Energy minister Samuel Undenge is now under fire for sleeping on the job, ignoring the irregularities or facilitating the corrupt payment.

This comes amid indications senior government officials, some at ministerial level and others above, might have benefitted from the Zesa deals, hence their attempt to resist investigations and cancellation of the projects.

Angola's President Jose Eduardo dos Santos appoints daughter as Head of the country's oil company - Sonangol

Angola's President Jose Eduardo dos Santos, who has ruled the country since 1979, has appointed his daughter, Isabel dos Santos (Africa's richest woman) as head of the state oil company, Sonangol. 

This is coming after he sacked the entire board back in April 2016, when the company started struggling after low crude prices affected its revenue.