Category: Africa
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Kenya: Tea price drops reversing last week’s gain
The price of the Kenyan tea dropped by Sh16 per kilogramme this week at the Mombasa auction, reversing the gains witnessed last week. A report from auction indicates that the price dropped from Sh305 last week to Sh289 per kilogramme (kg) in Tuesday’s auction. This marks only the second time since the beginning of the…
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Kenya: Nersa caps Eskom tariff hike at 2.2%
The National Energy Regulator of SA (Nersa) said on Thursday Eskom’s tariff increase for 2017-18 would be limited to 2.2% when the new prices come into effect on April 1. The decision is based upon methodology applied by Nersa which has a complex five-year tariff system informed by what it considers “allowable revenue”. As Eskom…
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S.A:Woolies S.A raises R100-m for education
The MySchool and Woolworths campaign to ‘Raise R100 million for Education’ has managed to raise R104.9 million, exceeding the original target of R100 million set in April 2015. Woolworths says this milestone could only be achieved thanks to the support of customers and active MySchool cardholders who participated in the campaign between April 2015 and December…
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S.Africa’s Massmart reports 16 pct jump in FY profit
South African retailer Massmart reported an almost 16 percent rise in full-year profit on Thursday, as the firm controlled costs and closed some of its less profitable stores in a tough economic environment. Massmart, majority-owned by Wal-Mart Stores Inc, posted diluted headline earnings per share of 587.6 cents for the 12 months to end-December, compared…
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Morocco: Solar Panels Make Morocco’s Mosques a Model for Green Energy
Revving engines and hooting horns – sounds from Marrakesh’s busy street filter up to the rooftop of one of the Moroccan city’s biggest mosques. The mosaic-decorated, stone minaret of the Koutoubia Mosque, towers above the flat roof, providing little shelter from the strong sun that beats down onto a row of giant solar panels. That…
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S.A’s CoM welcomes ConCourt ruling on gold producers
The Chamber of Mines, acting on behalf of gold producers AngloGold Ashanti, Harmony and Sibanye, welcomes the ruling by the Constitutional Court in favour of the gold producers. The ruling relates to the decision by the Labour Court on 23 June 2014 to uphold the interim order issued on an urgent basis by the Labour…
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S.A:OUTA files complaint against Eskom with Competition Commission
On 17 February 2016, the Organisation Undoing Tax Abuse (OUTA) lodged a formal complaint, evidence and detailed submission to the Competition Commission, alleging anti-competitive behaviour and abuse of dominant market position by Eskom, the national electricity utility of South Africa. OUTA is a civil action organisation in South Africa that investigates, exposes, litigates and mobilises public…
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Tunisia: Renewable, Sustainable Energy – Tunisia, Cameroon Seek Partnership
The government of Cameroon is expected to sign a partnership with Tunisia through the Borj Cedria Ecopark in the coming days. The Minister of Water Resources, Basile Atangana Kouna and the Tunisian Ambassador to Cameroon, Jalel Snoussi are in negotiations. The latter paid a courtesy call to the Minister on Friday February 17, 2017 with…
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South Africa’s Group Five CEO resigns
South African construction firm Group Five said on Wednesday its group chief executive Eric Vemer will be resigning in the next few weeks. “Eric and the board will be working towards transitional arrangements which will result in the identification of a suitable replacement candidate,” Group Five said in a statement. – Credit: CNBC Africa
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Nigeria’s VP launches 60-day plan to improve business climate
Nigeria’s Vice President Yemi Osinbajo has launched a 60-day action plan to improve the business climate in Africa’s biggest economy struggling with recession, his office said on Tuesday. “There are improvements which we expect to see at our ports. Improvements at our airports, improvements at the seaports, improvements in immigration visas,” Osinbajo said in a…