Category: Africa
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Nigeria: Japan Donates U.S.$3.5 Million to WFP for Emergency Needs in Northeast Nigeria
The funding allows WFP to deliver food to more than 160,000 people in Borno and Yobe States, where the Boko Haram insurgency has left many people severely food insecure, and experts warn of a credible risk of famine in some places. “We commend the Government and people of Japan for their continued contributions to WFP’s…
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East Africa:Wamalwa promises Sh75 a packet maize flour
Government rhetoric on the runaway pricing of staple maize flour intensified yesterday after Water and Irrigation secretary Eugene Wamalwa claimed that retail prices were about to fall by half with the release of flour from its Galana-Kulalu irrigation scheme. Mr Wamalwa said the flour, to be priced at Sh75 for a 2kg packet, would be…
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Nigeria: Govt Urged to Reduce Business Entry Barriers
Nigerian government has been urged to reduce business entry barriers in the country in order to encourage entrepreneurship and promote economic development. Chairman of the Global Board of Directors of Entrepreneurs Organisation (EO), Ivan Ting made the call during his visit to the Nigerian Chapter of EO, as part of his African Tour. EO is…
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Kenya: 400 medics say no work over delay of salaries
More than 400 doctors from four central Kenya counties have vowed to paralyse activities in public hospitals from Thursday over delayed salaries, deplorable state of the facilities and poor staffing. The doctors also accused the government of failing to implement a return-to-work formula that they signed when the doctors called off the strike last month.…
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Nigeria: China to Loan Nigeria $4.5 Billion to Boost Agriculture
The Peoples Republic of China has said it will lend Nigeria $4.5 billion to boost local agriculture. The loan is to enable Nigeria purchase farming tools including tractors, bulldozers, graders, irrigation pumps, amongst others. Audu Ogbeh, Nigeria’s minister of Agriculture, and Abdulaziz Yari, Zamfara State Governor, made the disclosure while speaking to journalists in Abuja…
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Kenya:AfDB approves Sh26bn for key roads in Kenya, Uganda
The upgrade of a 118 km road section connecting Kenya and Uganda has gathered momentum after the African Development Bank Group (AfDB) approved Sh26.1 billion ($253 million) for the project. The Kapchorwa-Suam-Kitale Road project comprising a dual carriageway is expected to be completed in 2021. “The project road has been receiving periodic maintenance but due…
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Egypt: Strong EIB Commitment in Support of Renewable Energy – New Eur 115 Million Financing for a Windfarm in Egypt
The EIB and the Arab Republic of Egypt signed today a loan agreement of EUR 115 million for financing a wind farm in the Gulf of Suez to further expand energy generation from renewable resources. The wind farm will contribute to meet growing electricity demand using sustainable wind energy. In the presence of Dr. Sahar…
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Morocco: Rwanda Eyes Over U.S.$100 Million Investments From Morocco
Rwanda is expecting more than $100 million in investments from Morocco. Acting head of investment promotion at the Rwanda Development Board (RDB) Winifred Ngangure Kabega said at a press conference Monday that the money would be invested in different sectors of the economy including tourism, energy and infrastructure. Kigali hosted more than 100 Moroccan investors…
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KRA fights capital gains tax hitch
The Kenya Revenue Authority (KRA) wants the court to suspend an order stopping it from seeking capital gains tax following a verdict that declared its law unconstitutional. In a suit filed Tuesday, the taxman sought the court’s intervention, arguing that it will be forced to delink the iTax payment module and the stamp duty, causing…
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Moody’s places S.A’s rating on review for downgrade
Moody’s Investors Service has today placed the Baa2 long-term issuer and senior unsecured bond ratings of the government of South Africa on review for downgrade. The decision to initiate a review for downgrade was prompted by the abrupt change in leadership of key government institutions. That action has raised questions regarding: – progress on reforms…