Category: Africa
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Kenya:Comesa plans regulatory agency for take off into shared airspace
Member states of the Common Market for Eastern and Southern Africa (Comesa) have agreed to set up a regulatory agency for the aviation industry, inching closer to forming a seamless airspace. Eastern and Southern Africa Aviation Agency, which has to be approved by the Comesa Secretariat, will co-ordinate the implementation of a seamless airspace within…
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Zimbabwe:Maize alternatives face challenges
After years of bad maize harvests as a result of worsening drought, farmer Dorothy Chihota switched a few seasons back to growing sorghum, millet, cowpeas, and groundnuts on her 50-acre farm in Uzumba Maramba Pfungwe district. Since then she has had only good harvests, she said – but that doesn’t always mean she has had…
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Ethiopian shoe designer hopes for repeat success with coffee
Bethlehem Alemu’s shoes have been sold worldwide by Amazon(AMZN, Tech30), Urban Outfitters (URBN) and Whole Foods (WFM). When she started her business the Ethiopian accountant had much more modest ambitions. “I wanted to do something that would give me job opportunities myself and the people around me,” Alemu said. “I immediately thought ‘I have to…
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Kenya:Chicken, cattle feed prices rise as supply falls
Higher maize prices have hit cattle and chicken farmers with manufacturers forced to raise the cost of animal feeds due to a sharp decline in the supply of the raw material. Unga Group CEO Nick Hutchinson said prices of the feeds were revised two weeks ago to match the rising cost of maize. On average,…
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Kenya:Uber to compensate drivers for three-day app malfunction
Online taxi hailing firm Uber has pledged to compensate drivers who suffered losses in the wake of a three-day application malfunction that lasted up to Monday. Uber said a technical glitch that has since been rectified caused the malfunction, which made it impossible for drivers using the firm’s technology to go online. The hitch left…
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Ivory Coast unrest makes cocoa grinders rethink investments
Cocoa grinders in Ivory Coast are holding off on new investments after military and social unrest this month, potentially denting government plans to boost processing of the commodity in the world’s top grower. Ivory Coast has emerged from a 2002-2011 political crisis as one the world’s fastest growing economies, attracting foreign investment into everything from…
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S.African mineworkers’ union vows coalmine strike in coming weeks
South Africa’s biggest union of mineworkers plans to launch a strike in coal mines in the “coming weeks” over the structure of industry wage talks, its spokesman, Livhuwani Mammburu, said on Wednesday. The National Union of Mineworkers is opposed to the coal companies’ intention to negotiate wages on an individual basis, rather than collectively under…
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Kenya:Income Tax Act set for first overhaul after more than four decades
The Treasury has invited the public to submit views on the intended overhaul of the Income Tax Act, sending a signal that proposals to amend the law could be included in this year’s budget. Those wishing to make submissions on the amendment of the Act have until February 24. “The National Treasury has commenced the…
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Egyptian Pound Remains Stable Against U.S. Dollar
The Egyptian pound remained stable against the US dollar on Monday, as it was sold at between EGP 18.75 and EGP 19.09 to the dollar in some banks. The Commercial International Bank (CIB) had the dollar sold at EGP 18.80 and bought at EGP 18.70, while it was sold at EGP 18.86 at the Arab…
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Kenya’s Uchumi posts narrower FY pretax loss
Kenya’s Uchumi Supermarkets said its pretax loss narrowed to 2.67 billion shillings ($25.70 million) for the year ended June last year from 3.51 billion shillings, in results which got a qualified opinion from its auditors. The chain closed some outlets last year and is selling assets like land after it sunk into deep losses due…