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New Zimbabwe government seeks to sell stakes in state-owned companies


Zimbabwe has invited bids to buy stakes in up to eight loss-making state-owned enterprises, including its national airline and power utility, to help plug a ballooning budget deficit, its deputy finance minister said on Wednesday. “We are diluting our shareholding in those entities and our shareholding might go to zero percent in some entities,” Terence Mukupe said. – Credit: CNBC ...

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Nigerian power grid shut down by gas pipeline fire -ministry

Large power lines.

Nigeria’s electricity grid has been shut down by a fire on a gas pipeline, the ministry of power said in a statement on Wednesday. Gas supply to several power stations was cut off because of the fire on the Escravos Lagos Pipeline System near Okada in the southern state of Edo, the ministry said. “The sudden loss of generation due ...

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Tanzania increases fuel prices due to rising crude costs

A customer uses a petrol nozzle to fill up his tank in a gas station in Nice August 27, 2012.    REUTERS/Eric Gaillard

Tanzania’s energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday, citing rising international crude oil prices. Fuel prices have a big influence on the inflation rate in the East African country. In the 12 months through November inflation eased to 4.4 percent, from 5.1 percent the previous month, but the fuel price hikes could push the ...

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Kenya: AfDB to raise Sh826bn through capital markets


The African Development Bank (AfDB) plans to raise $8 billion (about Sh826 billion) in the new-year tapping the capital markets with a view to lending to member countries on the continent. The bank expects to access a wide array of capital markets having previously raised cash mostly in the form of US dollars, Euros, Australian dollars and sterling pounds. “The ...

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East Africa: Morning fire burns part of NCPB depot in Eldoret


A mysterious fire has burnt a section of the National Cereals and Produce Board (NCPB) Eldoret depot. The cause of the Thursday 4am inferno could not be immediately established but a mortar explosion in one of the driers housing three silos is suspended to have ignited it. Uasin Gishu County Secretary Peter Lelei and the county executive in charge of ...

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Kenya: Food imports overtake fuel, machinery on 2017 drought


Prolonged drought experienced in part of 2017 saw food imports rise to overtake fuel and machinery in the third quarter of the year, highlighting the distorting effect of bad weather. Data released by the national statistics office shows the food import bill grew by 243 per cent from the Sh27.2 billion in the third quarter of 2016 to Sh88.2 billion ...

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Egypt: Dozens of Egyptian Firms to Participate in 2018 Stone Fair in China


About 28Egyptian marble companies will participate in an international stone fair scheduled to open in China in March 2018, official MENA news agency reported Thursday. “The Xiamen International Stone Fair is one of the biggest fairs for stones in the world and it displays the latest techniques in this field,” MENA quoted Walid Gamal al-Din, chairman of the Export Council ...

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Liberia: Morocco, Liberia Vow to Strengthen Bilateral Ties


Morocco and Liberia expressed on Monday their strong willingness to strengthen bilateral ties. The willingness was made during a phone call between Morocco’s king Mohammed VI and Liberia’s President-elect George Weah, according a statement from the Moroccan king’s office. On this occasion, the king reiterated his warmest congratulations to Weah following his election as Liberia’s president, the source said. During ...

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