Category: East Africa

As the curtains close down on the first calendar year of the 10th Parliament, a marking guide on the formative stages of the House would give good grades to the Committee on Commissions, Statutory Authorities and State Enterprises (Cosase) over its crackdown on thieving agencies. As one of the four accountability committees of the House,…

The Reserve Bank of Zimbabwe has sealed a deal with local petroleum giant Sakunda Holdings that will see the firm supplying the country with 160 million litres of fuel to ensure adequate supplies during the festive season. The deal, which became effective at the beginning of this month, was hammered under a structured facility in…

THE Reserve Bank of Zimbabwe (RBZ) has ordered banks to reduce charges between 1% and 1.25% of amount withdrawn for Automated Teller Machines (ATM) and over the counter. The order by RBZ comes after local financial institution increased withdrawal bank charges taking advantage of the cash shortages as depositors were now relying on multiple electronic…

Dr. Donald Kaberuka, the seventh president and a former chairman of the board of directors of the African Development Bank Group and a former finance minister of the Republic of Rwanda, has joined The Boston Consulting Group (BCG) as a senior advisor to its Public Sector, Social Impact, and Financial Institutions practices, the firm announced…

High population growth and rapid urbanisation continue to put pressure on energy needs in Tanzania. At the same time, energy development has not been keeping pace with the surging demand. This is creating an energy crisis because the resources keep dwindling while demand is rising sharply. Rapid expansion and a construction boom in cities like…

Premier Kassim Majaliwa’s directive to government organs like the army, the police and schools to stop using charcoal as fuel and switch to alternative and environmentally friendly sources of energy might be a game changer in the protection of our environment. According to PM Majaliwa, switching from the use of charcoal to natural gas and…

According to the Business Daily, Microsoft co-founder Paul Allen plans to sell 10 small-scale solar plants in Kenya that his private company has constructed in recent years. Paul Allen’s multi-billion dollar private firm, Vulcan, has been operating electricity mini grids in the last two years in Samburu and Kajiado, connecting homes and businesses to solar…

Construction of an over TZS 600bn water project to cater for an industry boom in Mtwara Region is scheduled to start this financial year, the government affirmed on Tuesday 1 November, reports the Tanzania Daily News.. Upon completion, the project which is expected to consume USD 281m (about TZS 604bn) will supply the region with…

Nearly half of Kenya’s banks handled the hundreds of millions of shillings that were stolen from the National Youth Service (NYS). The Financial Reporting Centre (FRC) reckons that 15 of Kenya’s 41 banks raised 42 alerts over suspicious transactions relating to the Sh1.6 billion  that was stolen through fictitious tenders. The Central Bank of Kenya…