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Africa's most advanced economy is usually seen as a good entry point for companies to expand into the continent and Amazon could be doing the same, analysts have said in the past.
The firm maintained a buy rating on the stock and a one-year price target of $225 per share, which would represent upside of roughly 21% based on Amazon's closing price of $186.41 per share today.
The e-commerce giant made a big move to fend off a potential threat.
This list comprises the largest companies currently in Africa by revenue as of 2022, excluding the finance sector, according to the ranking of the largest 500 companies in Africa by Jeune Afrique. In 2022, the largest company in Africa was Sonatrach with revenue of US$77 billion.
Amazon.com, Inc., [1] doing business as Amazon (/ ˈ æ m ə z ɒ n / ⓘ, AM-ə-zon; UK also / ˈ æ m ə z ə n /, AM-ə-zən), is an American multinational technology company engaged in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. [5]
Business Africa: Weekly 8-minute roundup on business news and markets in Africa and worldwide, live Thursday nights at 8:15 (with repeats till 11:15 then Friday lunchtime and weekend); Football Planet: Weekly 10-minute roundup on football news in Africa and Europe, live Monday nights at 8:15 (with repeats till 11:15 then Tuesday lunchtime);
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Amazon workers are planning a massive day of action on Black Friday in an effort to draw attention to alleged exploitation on the part of the online retail giant.. Protests and strikes in more ...