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Malawi: Drought Brings Fresh Misery, Hunger to Flood Survivors

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Deadly floods in Malawi robbed Fanny Josamu of her husband last year and now drought threatens her two children with starvation. For weeks, Josamu has relied on unripened watermelons and vegetables to keep her small family alive in Chikwawa, one of the most disaster-prone areas in southern Malawi. “When they eat the children collapse because it’s not tasty and they ...

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Nigeria: Fuel Queues Persist as Oil Workers End Strike

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Oil workers yesterday suspended the day-old strike they embarked upon to protest a major restructuring at the Nigerian National Petroleum Corporation (NNPC). Fuel queues however persist in major cities across the country despite the suspension of the industrial action, Daily Trust findings showed. At major fillings stations yesterday, chaos reigned as motorists struggled to buy fuel. Soldiers were drafted to ...

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Do Nigerians want local goods?

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About 97 per cent of Nigerians have said they would buy locally made products in order to strengthen the country’s economy; this is according to a recent public opinion survey by NOI Polls. Bell Ihua, CEO of NOI Polls said it felt it was important to look into this considering recent economic challenges and the heavy depreciation of the naira. ...

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S.Africa’s M&R sees lower 2017 earnings as oil clients cut back

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South African engineering and building group Murray & Roberts expects earnings to fall further in its next financial year as clients in the energy industry slash expenditure to cope with low crude prices, its CEO said on Thursday. Like its peers, Murray & Roberts is battling a market hit by a commodities price rout that has seen producers in the ...

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Africans should utilise digital banking more to grow GDP

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A recent Moody’s Estimates Migration report to electronic payments added 296 Billion US dollars to GDP across 70 Countries but African countries have only experienced a mere 0.05 per cent increase in the GDP. Lucy Mbabazi, Visa Rwanda’s Country Manager joined CNBC Africa for a look at the correlation between Electronic Payments and Economic Growth. Mbabazi strongly urged Africans to ...

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Big banks cartel hurting economy with expensive loans, says WB

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A few big banks have gained a stranglehold on Kenya’s lending market, rendering it non-competitive with devastating consequences on the economy, casting the spotlight on the Competition Authority of Kenya (CAK) which has been investigating the sector since last year. The high interest spreads that the commercial lenders continue to enjoy at the expense of the rest of the economy ...

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MTN proposes to pay $1.5bn to settle Nigeria fine

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MTN Group has proposed to pay 300 billion naira ($1.5 billion) to settle a record $3.9 billion fine in Nigeria for missing a deadline to disconnect unregistered subscribers that the government claims included Boko Haram Islamist insurgents. Africa’s biggest wireless operator made the written offer, comprised of cash installments, bond purchases and network access, to the Nigerian government on February 24, ...

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Worst SA drought to cut citrus exports in 2016

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 South Africa’s worst drought in a century will reduce the citrus harvest this year and result in smaller- sized oranges that are harder to sell, according to an industry body. Production of navel oranges and soft-citrus fruits from the Western Cape province is forecast to record a “slight reduction,” Justin Chadwick, chief executive officer of the Citrus Growers’ Association, said ...

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Renewable Energies – Call for Investors in Summer 2016

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Minister of Energy Saleh Khebri has said a call will be made next summer for investors to carry out the National Programme for Renewable Energies, to be preceded by the holding, in May, of an Algerian-European forum on renewable energies and energy efficiency. An invitation to investors for the implementation of the programme “is under preparation and will be launched ...

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Oil Workers End Strike After Govt Pledges No Job Cuts

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Nigerian unions on Thursday ended a day-old strike against the revamp of the beleaguered state oil firm after a minister promised there would be no job cuts. The strike, launched on Wednesday, came amid spiralling oil prices due to a domestic shortage and was called by the Petroleum and Natural Gas Senior Staff Association of Nigeria and the Nigeria Union ...

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