Author: citibusinessnews
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Zim evaluates land for compensation – farms union
Harare – Zimbabwe’s government began evaluating farms to determine whether their previous owners should be compensated after they were seized by the state, the Commercial Farmers Union said. “We have been in touch with government officials and we welcome government attempts to address the issue of compensation,” Marc Carrie-Wilson, deputy director of the union, said…
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Uganda: Kenyatta, Museveni to Hold Talks Over Oil Pipeline
Nairobi — President Uhuru Kenyatta is on Monday expected to hold talks with his Ugandan counterpart Yoweri Museveni on the construction of the Kenya-Uganda oil pipeline. According to Statehouse Spokesman Manoah Esipisu, this is a key factor in the Northern Corridor Infrastructure Projects. Esipisu stated that Uganda’s oil producers – Irish company Tullow Oil, French…
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Uganda: Bank Lending Picks Up
Kampala — Ugandans are gradually going back to borrowing money from banks after an interlude of hesitancy either due to the political period or high interest rates. “The economy is stable and the interest rates have not gone up. The situation of loan uptakes is normalising. We see people especially the low income earners borrowing…
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(Audio) Poultry import industry about to collapse
Players in the imported poultry business are complaining of a looming collapse as the business is no more profitable. The importers say they face a lot of challenges which includes tax and high electricity tariff. Citi Business News’ Jessica Ayorkor Aryee visited the Tema Fishing Harbour and has come through with this report. –…
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Expect fuel price blow after breather – AA
Cape Town – The Automobile Association (AA) is predicting an increase of between 31 cents and 35c a litre for petrol – on top of the 30c a litre increase in the fuel levy which becomes effective from April. The increase in the fuel levy was announced by Finance Minister Pravin Gordhan in his National…
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SA needs certainty, stability, says Investec’s Koseff
JOHANNESBURG – Business people and banks want to operate in a certain, clear environment, while South Africa needs stability and certainty as a society, says Stephen Koseff, group CEO of Investec. “Politicians must sort their problems out. They have an obligation to the people to sort their stuff out, we need certainty and clarity,” Koseff…
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Nigeria: State Turns to Oil Swap to Stave Off Petrol Shortages
Nigeria is set to ramp up the amount of crude oil it swaps for vital petrol imports by more than a third as it grapples with the worst economic crisis in years and upheaval in its graft-ridden energy sector. A more than 60 per cent drop in global oil prices since 2014 has hammered Nigeria’s…
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MoneyGram & GT Bank Launch MoneyGram receive service into Nigeria
MoneyGram and GT Bank, one of the leading retail banks in Nigeria, has announced the launch of MoneyGram’s receive services across the GT Bank network. This service will be available through MoneyGram’s cash to account service. Customers in Nigeria can now receive money from friends and family in 129 countries directly into their personal GT…
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Ghana faces further hikes in cost of public debt
Despite ongoing efforts to lower its public debt servicing costs through the lowering of yields on the debt securities if offers, government is having to face up to rising interest costs on its debt. The most recent five year debt issue, which the Ministry of Finance announced last week carried a coupon interest rate of…