Category: Africa
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Zimbabwe: Chinese National Fined for Selling Zim Flags
A Chinese businessman was yesterday fined $20 for selling Zimbabwe national flags without authority. Weidong Li (28), who operates a retail shop at the Gulf Complex in Harare’s Kopje area, pleaded guilty to contravening the Flag of Zimbabwe Act when he appeared before Harare magistrate Mr Tendai Mahwe. Mr Mahwe fined Weidong or five days…
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Nigeria: Why APC Accepts Responsibility for Nigeria’s Economic Downturn – Governors
The All Progressives Congress on Monday said the lingering economic crisis in the country should no longer be blamed on the 16-year streak of the Peoples Democratic Party, PDP. The party said it could no longer continue to blame past administrations for the enormous hardship Nigerians are grappling with. The party’s new position was disclosed…
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Nigeria: Finally, APC Accepts Responsibility for Nigeria’s Poor Economic Situation, Promises Solution
After several months of blaming the erstwhile ruling party, PDP, for the current state of Nigeria’s economy, the APC has accepted responsibility. The ruling party also promised to fix the problems. The APC’s position was stated by Governor Rochas Okorocha who briefed journalists after a meeting between the party’s governors and President Muhammadu Buhari at…
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Tanzania: Moroccan King Gets Tumultuous Welcome in Dar
King Mohammed VI of Morocco arrived in the country yesterday for a three-day state visit. The monarch is on the second leg of a tour of East Africa, having visited Rwanda before jetting into Tanzania. King Mohammed and his entourage arrived aboard a Boeing 747 of the Moroccan national carrier, Air Maroc, which touched down…
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Ecobank launches Ecobank Mobile App
Ecobank has launched the Ecobank Mobile App, an instant and convenient way of banking via the mobile phone. It is the first unified app delivered by any institution for use in 33 countries. Group CEO, Ade Ayeyemi unveiled the new App at a large product launch in Lagos, which brought together a wide range of…
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Kenya:Fund managers say rate cap to hit monetary policy
A majority of fund managers and fixed-income analysts polled by a research firm say the capping of bank rates will water down the effectiveness of monetary policy in controlling credit supply and inflation. The financial players polled by Nairobi-based financial research firm HTM Capital also faulted the use of the Central Bank Rate as the…
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Kenya:Sh743m stolen assets, cash seized in anti-corruption war
Some Sh743 million worth of stolen assets and cash were traced and frozen in the past 11 months as the newly established Asset Recovery Agency (ARA) flexed its muscles in the war against corruption. The agency says in a newly released report that most of the assets are proceeds of crime from the National Youth…
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South Africa’s rand largely flat in anticipation of mid term budget
South Africa’s rand was largely flat against the dollar on Tuesday, with dealers and analysts expecting cautious trade ahead of Finance Minister Pravin Gordhan’s medium term budget on Wednesday. * Rand at 13.8950 versus the greenback by 0639 GMT, barely shifted from Monday’s close at 13.9050. * Traders say currency will tread water as market…
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Nigeria: Recession – Saraki, Aregbesola, Sanusi List Conditions for Recovery
Policymakers and Nigerians at large have been advised to focus on the real economic issues that have pushed Nigeria’s economy into crisis, with a view to exiting the current economic crisis. The President of the Senate, Dr Bukola Saraki, the Osun State governor, Rauf Aregbesola and Emir of Kano, Muhammadu Sanusi II, who gave the…
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S.A’s CEOs pledge support for Finance Minister Gordhan ahead of Mini-Budget
On Sunday close to 100 CEOs from both listed and unlisted South African companies issued the following pledge in the wake of fraud charges against the country’s finance minister. CEO Initiative Pledge We, the CEOs and business leaders named below, join the Government/Business/Labour initiative, and commit to: Do the right thing; stand by what is…