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Botswana’s Debswana Diamond Company starts processing Cut 8 ore

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Botswana’s Debswana Diamond Company has started processing ore from the $3 billion expansion of its Jwaneng diamond mine, popularly known as Cut 8, the company said on Tuesday. The Cut 8 project, which Debswana started in 2010, is meant to uncover 100 million carats of diamonds and extend the life of the world’s richest diamond mine to 2024. Addressing stakeholders, ...

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Kenya:NHIF to offer outpatient in top hospitals

nhif

Private sector and informal workers will start accessing outpatient medical treatment at top private facilities like Aga Khan, Mater and Nairobi Hospital under an arrangement in which the NHIF will pay part of their bills. The National Hospital Insurance Fund (NHIF) is in discussion with the premium hospitals to roll out a co-payment scheme for the insurer to pay a ...

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S.A:The world’s 50 most innovative economies – S.A fails to make the cut.

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APRIL 26th  is World IP Day. But what does it mean for South Africa? And where are we in the global rankings when it comes to innovation and intellectual property? The Bloomberg 2017 Innovation list has recently been released which ranks the world’s top fifty economies. There were seven factors in total that determined these rankings, they were: the intensity ...

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South Africa’s maize output seen rising 87 percent higher in 2017

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South Africa will likely harvest 14.54 million tonnes of maize in 2017, up 87 percent from last year after favourable weather conditions lifted yields, the government’s Crop Estimates Committee (CEC) said on Tuesday. The third production forecast for the season, which is higher than market expectations of 14.175 million tonnes, will be the largest yield since 1981 when 14.656 million ...

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Kenya:Ratings agency Fitch in fresh debt warning

henry

Failure to cut the budget deficit and stabilise debt level will be a negative for Kenya’s credit profile, global rating agency Fitch Ratings has warned. The firm on Friday said effective implementation of a fiscal consolidation plan and stabilisation of debt-to -GDP ratio will lead to a positive rating. “The impact on Kenya’s sovereign credit profile will depend on the ...

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Kenya:Qatar to launch Mombasa flights

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Qatar Airways has announced that it will launch direct flights between Mombasa and Doha next year, stepping up domestic competition for national carrier Kenya Airways. The Middle East carrier, which already operates daily flights to Nairobi’s Jomo Kenyatta International Airport (JKIA), says Mombasa is among the 12 new destinations it will launch in 2018. The State-owned Qatar joins international carriers ...

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Zimbabwe:IMF says bond note cannot solve economic problems

Zimbabwe

Zimbabwe’s “bond note” surrogate currency will not solve its economic problems, the International Monetary Fund said, adding that only comprehensive reforms would address a fiscal crisis. The southern African nation last year introduced bond notes, which officially trade at par with the U.S. dollar and are backed by a $200 million bond from the African Export and Import Bank. The ...

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Kenya:Ratings agency Fitch in fresh debt warning

henry

Failure to cut the budget deficit and stabilise debt level will be a negative for Kenya’s credit profile, global ratings agency Fitch Ratings has warned. The firm on Friday said effective implementation of a fiscal consolidation plan and stabilisation of debt-to -GDP ratio will lead to a positive rating. “The impact on Kenya’s sovereign credit profile will depend on the ...

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SA is heading for a crisis worse than junk status if President Zuma delays signing the FICA Bill, this is why

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A global group that monitors money laundering worldwide has expressed concern that a bill to fight the crime in South Africa faces “significant ongoing delays” and warned the country’s banks risked being exposed to illicit money flows that could hurt investor sentiment. David Lewis, executive secretary at the Paris-based Financial Action Task Force (FATF), said on Monday that South Africa ...

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Kenya’s gold loses its lustre as earnings slide

gold

Kenya’s ambition of being a major player in the gold market is fading after earnings from the precious metal sank to new lows. Kenya produced 200 kilogrammes of gold worth Sh652.5 million last year, a tiny amount for a commodity the country hoped would drive mineral earnings and cut dependence on agriculture. Weaker gold prices and push for foreign­owned firms to cede stake ...

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