Category: Africa
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Nigeria’s hottest investment opportunities
The past year has been one of economic progress for Nigeria, with Africa’s largest economy managing to crawl back into growth territory in the second quarter of 2017. Advertisement The Nigerian government has realised that it needs to make the country as attractive and lucrative as possible for offshore investors to bring their capital, skills…
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Tanzania restores power in parts of country after nationwide outage
Tanzania’s power utility said on Friday it had started to restore electricity to parts of the country after the East African nation was hit by a country-wide blackout on Thursday morning. “Efforts are ongoing to make sure that power supply is restored to all parts of the country,” the state-run Tanzania Electric Supply Company (TANESCO)…
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South Africa’s rand weaker as ruling party’s succession race gathers steam, stocks firmer
South Africa’s rand weakened early on Monday as the leadership race for the new leader of the ruling African National Congress gathered momentum, with the largest voting bloc expected to signal its preferred candidate this week. At 0709 GMT, the rand traded at 13.7950 versus the dollar, down 0.4 percent from its New York close…
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Nigerian capital inflows more than doubled in Q3 to $4.2BN
The total value of capital imported into Nigeria more than doubled in the third quarter to $4.15 billion, after the economy emerged from a recession, the National Bureau of Statistics (NBS) said on Monday. Nigeria’s economy grew in the second quarter, climbing out of its first recession in 25 years, as oil revenues rose. Last…
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Court challenge to South Africa mining charter postponed to February
A court hearing for a challenge by South Africa’s mining industry to revisions to a sector charter which include raising levels of black ownership has been postponed to February from December, country’s Chamber of Mines said on Monday. “A judge decided that two days was not enough time and asked for three days, so the…
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East Africa:Burundi’s inflation rises to 17.6% yr/yr in October
Burundi’s inflation accelerated to 17.6 percent year-on-year in October from 15.2 percent in September due to rising food costs on local markets, official figures showed on Monday. Food inflation jumped to 28.0 percent in the year to October from 23.9 percent in September, the Institute of Economic Studies and Statistics (ISTEEBU) said in its monthly…
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Kenya: Unclaimed assets now hit Sh25bn
Unclaimed cash and securities surrendered to a State agency have hit Sh25.9 billion as managers of non-compliant firms face heavy penalties and jail terms. While the agency is now holding a large haul of cash, most of the surrendered assets are by publicly traded firms. Unclaimed Financial Assets Authority (UFAA) chief executive Kellen Kariuki said…
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Egypt: Sisi Asserts Importance of Developing Civil Aviation Sector
President Abdel Fattah El Sisi underlined the importance of continuing to upgrade and develop the civil aviation sector including Egyptian airports’ security systems and qualifying its working human cadres to cope with the latest technologies. Sisi referred to the importance of the civil aviation sector in increasing travelling and tourism movements which would contribute to…
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Egypt’s Air Force Destroys 6 Vehicles Loaded With Weapons On Western Border
Egypt’s Air Forces destroyed six four-wheel-drive vehicles loaded with smuggled weapons and ammunition on the country’s western border. Criminals inside the vehicles were killed in the raid, the Armed Forces said in a statement on Monday 30/10/2017. The move comes as part of the continued efforts by the Air Forces in cooperation with the border…
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Kenya: Lecturers launch pay increase strike today
Learning at public universities is set to be paralysed today when lecturers go on strike over the delayed implementation of a pay rise agreement. The strike follows the decision by universities to revert to previous salaries and allowances after implementing Sh10 billion arrears that were running to June 30. Universities Academic Staff Union (UASU) secretary-general…