Rising global oil prices are putting pressure on the aviation industry, with fuel and energy costs accounting for about 30% of operating expenses. Industry players say escalating tensions linked to the U.S.-Iran war are driving up costs, forcing airlines to absorb some of the increases while passing others on to passengers. The concern is that higher ticket prices could weaken travel demand, adding further pressure to an already cost-sensitive industry. Our economics reporter Innocent Semosa has more …

Rising global oil prices are putting pressure on the aviation industry, with fuel and energy costs accounting for about 30% of operating expenses. Industry players say escalating tensions linked to the U.S.-Iran war are driving up costs, forcing airlines to absorb some of the increases while passing others on to passengers. The concern is that higher ticket prices could weaken travel demand, adding further pressure to an already cost-sensitive industry. Our economics reporter Innocent Semosa has more &hellip;

Africa Rise & Shine

Rise & Shine

Global Oil Price Surge Raises Airline Costs, Threatens Higher Airfares and Weighs on Travel Demand

Zimbabwean President Emmerson Mnangagwa has appointed businessman Kudakwashe Tagwirei, who is sanctioned by the United States and the United Kingdom over alleged corruption, as the country's investment minister. Tagwirei is a long-time adviser to Mnangagwa and was among the prominent supporters of efforts to amend Zimbabwe's constitution earlier this year to extend the president's time in office. His appointment is likely to intensify scrutiny of the close ties between political power and business in Zimbabwe, with critics alleging that wealthy businessmen linked to the president have benefited from lucrative state contracts. For a reaction, we spoke to Zimbabwe's opposition, Job Sikhala

Zimbabwean President Emmerson Mnangagwa has appointed businessman Kudakwashe Tagwirei, who is sanctioned by the United States and the United Kingdom over alleged corruption, as the country's investment minister. Tagwirei is a long-time adviser to Mnangagwa and was among the prominent supporters of efforts to amend Zimbabwe's constitution earlier this year to extend the president's time in office. His appointment is likely to intensify scrutiny of the close ties between political power and business in Zimbabwe, with critics alleging that wealthy businessmen linked to the president have benefited from lucrative state contracts. For a reaction, we spoke to Zimbabwe's opposition, Job Sikhala

Zimbabwe Opposition Questions Mnangagwa’s Appointment of US- and UK-Sanctioned Businessman as Investment Minister

Ethiopia is position itself as Africa's gold processing hub. The country has launched its first large scale domestic processing facility- the National Precious Metals Refinery that is built to process over 600 tonnes of gold and silver annually. A game changer for Africa, as the country attempts to break the traditional economic cycle of exporting raw African minerals. The plant is expected to offer internationally certified melting, assaying and minting services.

To discuss this further, we spoke to Mered Fikireyohannes, Market analyst and Economist based in Ethiopia

Ethiopia is position itself as Africa's gold processing hub. The country has launched its first large scale domestic processing facility- the National Precious Metals Refinery that is built to process over 600 tonnes of gold and silver annually. A game changer for Africa, as the country attempts to break the traditional economic cycle of exporting raw African minerals. The plant is expected to offer internationally certified melting, assaying and minting services. To discuss this further, we spoke to Mered Fikireyohannes, Market analyst and Economist based in Ethiopia

Ethiopia Launches Gold Refinery to Boost Local Processing and Add Value to Africa’s Mineral Wealth

Former Democratic Republic of Congo President Joseph Kabila has joined forces with M23 rebels to form a new political and military coalition, called the Front for the Refoundation of the Nation. The announcement was made at a news conference in Goma, in eastern DRC. SABC News correspondent Chris Ocamringa reports from Kinshasa.

Former Democratic Republic of Congo President Joseph Kabila has joined forces with M23 rebels to form a new political and military coalition, called the Front for the Refoundation of the Nation. The announcement was made at a news conference in Goma, in eastern DRC. SABC News correspondent Chris Ocamringa reports from Kinshasa.

Global Oil Price Surge Raises Airline Costs, Threatens Higher Airfares and Weighs on Travel Demand

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