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Rwanda to Lift Double Taxation for Moroccan Investors

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Rwanda’s Cabinet on Wednesday approved a law removing double taxation for Moroccan investors while mitigating against tax evasion on income accrued by their businesses. Moroccan investors have shown great interest in Rwanda ever since King Mohammed VI visited the country in October last year. “Investments from Morocco are coming in at a high speed; therefore, facilitating them is an opportunity ...

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Moroccans Eye Tanzania Fishing Industry

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Moroccan investors are set to establish a fish processing factory in Tanzania. “Some Moroccan investors have conducted a study and found huge potential in fisheries. They intend to set up a giant fish processing factory. Zanzibar and Union governments are striving to attract investors,” said Zanzibar Finance minister Khalid Salum Mohamed. He was speaking at a meeting on African Business ...

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Morocco: Rwanda Eyes Over U.S.$100 Million Investments From Morocco

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Rwanda is expecting more than $100 million in investments from Morocco. Acting head of investment promotion at the Rwanda Development Board (RDB) Winifred Ngangure Kabega said at a press conference Monday that the money would be invested in different sectors of the economy including tourism, energy and infrastructure. Kigali hosted more than 100 Moroccan investors and government officials Monday in ...

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Egypt: Strong EIB Commitment in Support of Renewable Energy – New Eur 115 Million Financing for a Windfarm in Egypt

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The EIB and the Arab Republic of Egypt signed today a loan agreement of EUR 115 million for financing a wind farm in the Gulf of Suez to further expand energy generation from renewable resources. The wind farm will contribute to meet growing electricity demand using sustainable wind energy. In the presence of Dr. Sahar Nasr, Minister of Investment and ...

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Libya’s National Oil Corp warns of new attempt at independent oil sales

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Libya’s National Oil Corporation (NOC) said on Sunday that it had identified “illegal” efforts to sell crude oil without its approval and warned potential buyers not to enter into such contracts. Factions based in eastern Libya have previously tried to sell oil independently of NOC in Tripoli, but their moves have been frustrated by U.N. resolutions that remain in place. ...

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Egypt received two cargoes of diesel fuel from Saudi Aramco

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Egyptian Petroleum Minister Tarek El Molla said on Sunday his country had received two cargoes of diesel fuel from Saudi Arabian state-owned oil company Aramco on Friday and Saturday. Molla was speaking at an energy conference in Cairo. Saudi Arabia agreed in April last year to provide Egypt with 700,000 tonnes of refined oil products a month for five years, ...

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Uganda: Libyans Pull Out of UTL, Uganda Govt Takes Over

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Uganda Telecom Limited (UTL) that has been limping for years, will be rescued by government, that will take over its full management immediately. Minister for Finance Matia Kasaija confirmed that Libyan company UCOM, a subsidiary of majority shareholders Libyan Post, Telecommunication and Information Technology Holding Company (LPTIC), would no longer be able to finance UTL. UCOM, minister Kasaija confirmed, have ...

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Somalia: Trump Signs New Muslim Travel Ban Excluding Iraq

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Donald Trump has signed a revised travel ban that will temporarily halt entry to the US for people from six Muslim-majority nations. Under the Republican president’s order announced on Monday, a 90-day ban on travel to the US will be imposed on citizens of Iran, Libya, Syria, Somalia, Sudan and Yemen. Travellers holding pre-existing visas would still be allowed entry, ...

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Egypt: Agreement On Russian Industrial Zone in Egypt to Be Signed in May, Minister

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The agreement to establish the Russian industrial zone in Egypt is planned to be signed next May, the minister of trade and industry Tarek kabil said on Thursday. “Details for establishing the zone is being finalized nowadays with the Russian side and the final signing of the agreement would be during the meetings of the joint Egyptian-Russian committee in Moscow ...

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Kenya:Midiwo amendment seeks to push telcos to split business

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Gem MP Jakoyo Midiwo has proposed changes to the telecoms law that if passed would see telecommunication companies face stricter regulation and apply legal pressure on authorities to split Safaricom. Mr. Midiwo on Wednesday issued a notice of intention to introduce amendments to the Kenya Information Communication Act (KICA), which will require mobile phone operators that venture beyond telecommunication services ...

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