Category: Africa
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Sierra Leone: Govt Wages War On Electricity Theft
Government of Sierra Leone through the Ministry of Energy has formed and launched an Electricity Offence Committee in order to tackle the rate and spate of electricity theft in the country. The Committee was formed and launched at the Conference Room of the Ministry of Justice yesterday on Lamina Sankoh Street in Freetown. It comprises…
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Zimbabwe: Zim-China Trade to Reach U.S.$1 Billion Mark
Trade volumes between Zimbabwe and China are set to go beyond the $1 billion mark by year-end. China imports tobacco, cotton and various minerals from Zimbabwe while local businesses have turned to the East Asian economic giant for electronic, clothing and other finished products. Speaking on the sidelines of a handover of various educational materialand…
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Nigeria: U.S. Supports Govt’s Fight Against Poverty With Additional U.S.$227.3 Million
The United States of America has announced the release of $227.3million to help fight poverty in Nigeria. The sum which was announced by the US Agency for International Development (USAID) was in addition to the US developmental assistance to support the five-year $2.3 billion agreement signed with the Nigerian Government in 2015. According to the…
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Morocco:Economy Plows Ahead On Expanding Exports and Push for Tourism
Despite lower growth in 2016 due to last year’s drought and depressed phosphate prices, Morocco continues to invest both to boost the national economy and to increase commercial ties in Africa and elsewhere. The MCC released its final report on its initial compact with Morocco, which completed in 2013, and provided more details on a…
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Algeria: Nearly 6 Percent Hike in Tax Revenues in Late September 2016
Tax revenues hit DZD 1,600 billion in late September, up by nearly 6% compared with the same period in 2015, announced Sunday Finance Minister Hadji Babaammi. “We witnessed an increase of almost 6% of tax revenues until September 2016 compared with the same period in 2015,” the minister told the press on the sidelines of…
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Tanzania: Cashew Development Fund Axed
Agriculture, Livestock and Fisheries Minister Charles Tizeba has suspended the Cashewnut Industry Trust Development Fund (CIDTF) effective yesterday over allegations of mismanagement and sabotage of the cash crop’s development. Dr Tizeba told reporters in Dar es Salaam yesterday that the suspension was an outcome of extensive consultations amid growing concerns on the fund’s performance. “The…
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Tanzania: Ban On Export of Live Animals Remains Intact
The ban on the exports of live animals remains intact unless all procedures are strictly observed, the government said yesterday. The Natural Resources and Tourism Minister, Professor Jumanne Maghembe, told traders dealing with transportation of live animals that the three-year ban was a legitimate government decision, which is not likely to change soon. “This ban…
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Angola’s state-run oil company fires subsidiary’s board
The head of Angola’s state oil company Sonangol has fired the executive committee of subsidiary Sonangol Exploration and Production, the company said on Tuesday. Sonangol’s chief executive Isabel dos Santos, the billionaire daughter of President Jose Eduardo dos Santos, has told the Financial Times she plans to split the company into three units. Dos Santos…
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Ethiopia, Algeria Agree to Enhance Business Ties
State Minister Hirut Zemene dubbed Ethio-Algerian relations ‘very fraternal’. Foreign State Minister Hirut Zemene discussed ways of improving economic cooperation with her Algerian counterpart Ramtane Lamamra in Oran, Algeria Sunday. In a statement to the press after the meeting, Hirut said the talks focused on improving bilateral consultations. “We have agreed to further develop our…
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Zambia:Vedanta Resources slapped with $100m settlement
Konkola Copper Mines (KCM), owned by Vedanta Resources, has been ordered by a London court to pay the Zambian government more than $100 million for a claim related to the copper price, a state-owned company involved in the dispute said. The claim relates to outstanding payments under a 2013 copper price participation settlement agreement between…