Category: Africa
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Nigeria: NERC Unveils Six Action Plans to Stabilise Power Sector
The new commissioners of the Nigerian Electricity Regulatory Commission (NERC), have outlined six areas the regulatory agency would focus on going forward to revive the fortunes of Nigeria’s privatised electricity market which is currently under immense operational stress. Coming almost two months after the inauguration of the board by the Minister of Power, Works and…
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Botswana’s 300 MW power plant stalled over $800m guarantee dispute
The 300 megawatt (MW) expansion of two units at Botswana’s Morupule B coal fired power plant has been delayed due to a dispute with the contractor over an $800 million guarantee, a cabinet minister said on Wednesday. Japan’s Marubeni and South Korea’s Posco Energy were last year awarded the contract for the expansion, but a…
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Kenya:World Bank pushes for PPP to curb homes deficit
The World Bank says Kenya should collaborate with real estate firms to raise access to low-income houses. In its latest report on housing, it says a public-private partnership, where the government provides land while the private sector builds the houses, could see prices fall drastically. The bank’s lead financial sector specialist and co-author of the…
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KRA stopped from raiding China firm
A Chinese firm that is building a Sh20 billion mixed development complex in Nairobi’s Westlands area has obtained a court order barring the Kenya Revenue Authority (KRA) from attaching its bank accounts to recover a disputed tax demand. The High Court last week issued a temporary order barring the taxman from taking any action on…
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Nigeria: ‘Missing’ Petrol Scandal: NNPC confirms Premium Times Report of Retirement of Top Officials
The Nigerian National Petroleum Corporation, NNPC, management on Thursday confirmed PREMIUM TIMES’ exclusive reports on the retirement of some of its top officials as a fallout of the recent N14 billion missing petrol scandal that rocked the national oil company. On Sunday, this newspaper exclusively reported that top officials indicted by a committee constituted to…
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Algeria: Four homemade mines, explosives discovered Sunday in Tizi Ouzou
Four homemade mines and explosives were discovered Sunday in Tizi Ouzou by units of the People’s National Army (ANP) following a combing and search operation, announced Sunday the National Defence Ministry in a communiqué. “As part of counterterrorism and following a combing and search operation, an Army detachment under the operational area of Tizi Ouzou…
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Liberia: Coca-Cola Confirms Cummings’ U.S. Citizenship
Coca-Cola former executive and Liberian Presidential hopeful Alexander B. Cummings, Jr. has been listed as a bonafide citizen of the United States, a citizenship which he is yet to officially relinquish with barely six months to presidential and representative elections here. Mr. Cummings, currently standard bearer of the newly formed Alternative National Congress or ANC…
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Rwanda: Local Firms Look to Morocco for New Markets and Business Partnerships
Fifty local private sector members will next month head to Casablanca in Morocco to explore trade and investment opportunities in the north African country. Geoffrey Kamanzi, the Private Sector Federation (PSF) director for trade facilitation and negotiations, said business leaders from the energy, finance, transport and logistics, information and communication technology, construction and real estate…
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Nigeria’s military destroys 13 illegal oil refineries
Nigeria’s military has revealed that it had destroyed 13 illegal refineries in the restive Niger Delta oil hub, in an operation in which two soldiers died in clashes with “sea robbers”. Military authorities say there are hundreds of illegal refineries in the region, which process stolen crude from oil company pipelines. The Nigerian government said…
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S.A:We will do all we can to avoid another downgrade – Gigaba
South Africa’s new finance minister pledged on Thursday to do what he can to keep the country from a third credit downgrade to junk status, saying he would meet ratings firm Moody’s to persuade it he will stay on the path of fiscal discipline. Malusi Gigaba, who replaced the respected Pravin Gordhan in a cabinet…