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East-Africa:Portland Cement’s AGM aborts after auditors fail to show up


The annual general meeting (AGM) of East African Portland Cement Company (EAPCC) Friday aborted after the company’s auditors failed to show up. The AGM, held at the company’s Club House, required the presence of the office of the Auditor-General or its appointee Deloitte East Africa to proceed. Auditors usually confirm their opinions on a company’s accounts at such meetings where ...

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Oil truckers dispute with ERC sparks fuel shortage in Nairobi


Petrol stations in Nairobi and its environs reported fuel shortage caused by the standoff between oil transporters and the Ministry of Energy over the implementation of the law requiring trucks to only operate during daytime. Motorists in Nairobi and Kiambu on Wednesday complained of fuel shortage even as truckers remained cagey on the way forward after their demand to have ...

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Mombasa Cement to build 36 MW wind farm in Kilifi


Mombasa Cement is set to build a 36 megawatt (MW) wind farm in Kilifi for its own use and sale to Kenya Power. The project, which consists of 12 turbines of 3MW each, will cost an estimated Sh260 million, according to regulatory filings submitted by the cement manufacturer. The wind park will be build on a section of the 1,200 acres ...

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How China contractors drove Kenyan firms out of mega projects


Big Kenyan contractors are feeling the heat of competition from deep-pocketed Chinese rivals whose superior machinery and lower bids for lucrative State tenders have driven local firms out of business. Kundan Singh, Spencon Holdings and Mugoya Construction are some of the erstwhile big names that have fallen on hard times due to the Chinese invasion, ending up under receivership with ...

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Congo central bank injects $50 million into market to prop up franc


Democratic Republic of Congo’s central bank injected $50 million into the interbank exchange market on Tuesday to prop up the Congolese franc, which has lost nearly 40 percent of its value in the last year, the bank’s spokesman said. The bank injected $50 million into the market five times in 2016 and hiked interest rates but the franc continued to ...

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Tanzania considers tax on charcoal to save forests


Tanzania is considering putting a tax on charcoal with the aim of discouraging the use of the fuel, which is a big source of energy for cooking but also a major contributor to deforestation. Officials say they believe making charcoal more expensive would significantly reduce demand for it and cut runaway tree felling in the east African nation. Justus Ntalikwa, ...

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U.S. State Dept approves possible $418 mn military aircraft sale to Kenya


The U.S. State Department has approved a possible $418 million sale to Kenya of aircraft with weapons and related support, a Pentagon agency said on Monday. The Defense Security Cooperation Agency said in a statement the approval was for the possible sale of up to 12 Air Tractor AT-802L planes and two AT-504 trainer aircraft, a weapons package, technical support ...

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Tanzania:Local Economy Impresses IMF


The International Monetary Fund (IMF) Resident Representative in Tanzania, Mr Bhaswar Mukhopadhyay, said yesterday that his organisation is satisfied with the speed of Tanzania’s economic growth and that the country is among the fast growing economies in Africa. Mr Mukhopadhway said IMF expects to witness economic growth in the coming years in collaboration with private sectors in the country. The ...

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Japanese Government to Support Irrigation in Uganda


The Japanese Ambassador to Uganda, Mr Kazuaki Kameda, has pledged his government’s support towards promoting irrigation in the country in order to enable Uganda produce adequate food. While commissioning piped water system at Mushumba Primary School in Ryeru Sub-county last week, Mr Kameda said the Japanese government will encourage people to adopt irrigation as way of improving agriculture. “Recently, President ...

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Uganda: Oil Cash Payout Leaves Government Arms Bickering


Separation of powers. These three words have dominated political chatter this week. How should the three branches of government share power? Where is the red line that must not be crossed? What amounts to interference by one government power centre into the work of another? These are the questions that kept keen observers second guessing as the three branches of ...

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