Business

Ethiopia's largest bank says it has recovered almost three-quarters of the $14m (£12m) it lost in a glitch that allowed customers to withdraw more money than they had in their accounts.

Former Steinhoff CEO Markus Jooste has died, taking his own life a day before he was meant to hand himself over the South African law enforcement officials for financial crimes perpetrated during his reign at the helm of the company.

The head of Ethiopia's biggest commercial bank has told the BBC that customers who withdrew more money than was in their accounts because of a glitch cannot "escape" the law. Commercial Bank of Ethiopia (CBE) customers rushed to take out money, or transfer it to other accounts. It took several hours for the state-owned bank to freeze transactions. Those who do not return money that is not theirs will be prosecuted, warned CBE president Abe Sano.

Zimbabwean cattle breeder Collen Tafireyi stole the show at President Cyril Ramaphosa’s Ntaba Nyoni cattle auction at his Phala Phala farm near Bela-Bela in Limpopo at the weekend, buying one of the South African head of state’s famed Ankole cows for R1,8m.

Nigeria's Aliko Dangote has been listed as the richest man in Africa for the 13th year in a row despite the economic turmoil in his country. The rankings by Forbes Magazine show almost 20 billionaires on the African continent with a combined worth of $82.4bn (£64.8bn).

US investment could help African countries make the most of its critical minerals and industrialise their economies, South Africa's President Cyril Ramaphosa has said.

South African house music star Mampintsha has fired back at critics and fans after they attacked him for his exorbitant prices for branded T-shirts. Shimora simply told them, 'you are not the target market'.

South African musician Makhadzi has announced she has signed a life-changing multi million-rand deal. The 'Ghanama' hitmaker announced on Instagram that the deal is to create apparel, sneakers and accessories that represents everything she's about.

Award-winning DJ and music producer Prince Kaybee took to Twitter to encourage his followers to support black businesses.

The World Bank says the coronavirus pandemic has reversed a decade of hard-won growth in Africa and could lead to a 3.3% contraction of its economy in 2020.