Category: Africa
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Kenya shifts gears in drive to raise coffee exports into America
Kenya is pushing to increase its market share for coffee in the United States (US) as a means of improving the global visibility of the local commodity. The government through the Agriculture, Fisheries and Food Authority (AFA) Coffee Directorate on Tuesday said it is also targeting China, South Korea, Sweden, Norway, Denmark, Poland and Nigeria…
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Kenya:Top earners face more tax pain in Rotich budget plan
Highly paid Kenyans are headed for more tax pain in the coming year when the Treasury is expected to increase income tax bands “to reflect the inflationary impact of annual salary increments.” Treasury secretary Henry Rotich said on Tuesday that a review of the income tax law to reflect the new reality would come in…
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Zimbabwe growth to quicken to 4.8 pct in 2017
Zimbabwe expects economic growth to quicken to 4.8 percent in 2017 from 1.2 percent this year on improved agriculture production and higher global commodity prices, the Treasury said in a budget strategy document. The southern African nation is in the throes of its worst financial crisis since it switched its currency for the U.S. dollar,…
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Guinea signs $770 mln contract with Chinese firm to develop main port
China Harbour Engineering Company (CHEC) signed a $770 million contract with Guinea’s government on Monday to upgrade the port in the capital, Conakry, expanding Chinese economic influence in the West African iron and bauxite producer. Under the contact, CHEC, a subsidiary of China Communications Construction Co Ltd, will construct three docks, roads and other infrastructure…
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S.A:Black Business Council CEO steps down
The Black Business Council (BBC) has announced the departure of its CEO Mohale Ralebitso who has tendered his resignation from its employ and remains available until end of November 2016. Being the aspiring industrialist that he is, he will not be lost to the sector and the general transformation agenda to which BBC is an…
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Morocco: Air Tanzania for Direct Flights to Morocco Soon
Air Tanzania Company Limited (ATCL) and Moroccan Royal Air Maroc are scheduled to sign a codeshare agreement to open direct flight between Dar es Salaam and Rabat. Speaking shortly after signing the 21 bilateral deals between Tanzania and Morocco in the city yesterday, President John Magufuli said he had principally agreed with his visitor to…
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Botswana: BCL Poisoned Workers – Experts
BCL Liquidator Nigel Dixon-Warren will be confronted with shocking findings when he finally conducts health inspections on the 5000 dismissed workers, after Government and other shareholders disregarded warning of disastrous pollution from public health experts, caused by the sulphur dioxide and effluent pumped into the open environment. The closure of BCL mine – estimated to…
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Kenya:SMEs shun banks, turn to family for start-up cash
Majority of small businesses in Kenya consider commercial banks as inappropriate sources of finance, choosing instead to use family resources as start-up or growth capital, a newly released report says. The Kenya National Bureau of Statistics (KNBS) says in a newly-released report that 80.6 per cent of establishments use family or own funds as the…
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Nigeria: Dangote Tops Nigeria’s CSR Performers As Arik, Multichoice, Dana Emerge Worst
Dangote Group has emerged Nigeria’s best Corporate Social Responsibility (CSR) company in 2016, a survey by Governance Advancement Initiative for Nigeria (GAIN) has shown. Dangote was the adjudged overall winner among 25 Nigerian and multinational companies operating in the country, scoring 6.3 per cent, followed by Nestle with 5.51 per cent and Etisalat with 5.45…
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Kenya:NSE-listed Atlas doubts return to London bourse after suspension
Nairobi Securities Exchange-listed Atlas African Industries says it is doubtful of a return to the London Stock Exchange where it was suspended on October 17 following the resignation of its nominated adviser (Nomad). The company also halted trading on the NSE’s Growth Enterprise Market Segment (GEMS) the next day, making the stock illiquid for existing…