Zambian president Rupiah Banda has conceded electoral defeat to Michael Sata, who has been declared winner of the presidential election. Sata has in the past been critical of foreign mining companies operating in Zambia, although he toned down his rhetoric in the final stages of the election campaign. Read more at News24, Reuters.

---

Despite our best efforts, How we made it in Africa cannot cover every single business story on the continent. What you need to know tracks important developments originally reported on by other media organisations.