Category: Africa
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Nigeria: NCAA to Intensify Audit of Airlines Over Poor Financial Obligations
The Nigerian Civil Aviation Authority (NCAA), yesterday disclosed plans to further intensify surveillance and economic audit of some airlines over alleged inability to meet financial obligations. The NCAA, apex regulatory body of air travel business in the country, said the motive is not to ground any airline, but to ensure strict compliance with the standard…
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Mombasa tycoon TSS’ land up for sale over bank debts
Commercial banks that had lent Mombasa tycoon Twahir Sheikh Said (TSS) billions of shillings have put up more than 6,700 acres of his leasehold land holdings and property on the Kenyan coast for sale, adding impetus to his business empire’s free fall that began late last year. Mr Said, who died early this month, had…
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Nigeria: Cross River Set to Float Airline, Shipping Line
Determined to boost the revenue base of the state as well as decouple it from its over dependence on federal allocation, the Cross River State Government has concluded plans to float an airline as well as a shipping line. Speaking with journalists in Calabar, Governor Ben Ayade said the state was taking full advantage of…
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Egypt: Cairo Airport Bans Rights Lawyer Negad Al-Borai From Travel
Rights lawyer Negad Al-Borai was banned from travel on Thursday, security sources said in press statements. Al-Borai, director of the United Group law firm, was heading to Jordan for a family visit when he was banned from leaving upon an earlier decision by an investigations judge. The banning decision did not mention details on the…
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Black Friday: South African retailers pushing consumers to shop till they drop
Retailers today are continually looking for ways to improve the effectiveness and efficiency of their sales promotion efforts. According to data released by Stats SA last week, retail sales for November 2016 were up by 3.8% mainly driven by Black Friday sales. From an overseas perspective, more than three-quarters (76%) of U.S. consumers spent money…
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Mauritius business confidence rises in Q4 2016
Business confidence on the Indian Ocean island of Mauritius rose in the last quarter of 2016, a survey of leading private companies showed on Tuesday. The Mauritius Chamber of Commerce and Industry’s quarterly confidence index climbed 4.9 percent to 97.5 points. But the index remained well below the long-term average of 100 points. The Mauritius…
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Ghanaian business leaders applaud Rwanda’s development efforts
Ghanaian leaders from the public and private sector have applauded Rwanda’s transformation journey following the 1994 Genocide against the Tutsi. The 20 Ghanaian business leaders, investors and government officials were in the country on a five-day business trip last week to learn from Rwanda’s success story, according to Kojo Akoto Boateng, one of the organisers…
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Kenya:CAK to probe price fixing claims against supermarkets
The Competition Authority of Kenya (CAK) will investigate supermarkets over rising customer complaints of price manipulation, where customers are misled to overpay for goods. The competition watchdog announced on Friday that the retailers would face scrutiny following mounting claims they were posting different prices on the shelf from what they charge at the tills. “(The…
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Kenya:NSE-listed firms intensify asset sales to shore up flagging profits
Nairobi Securities Exchange-listed companies are increasingly turning to asset sales to shore up their medium-term performance in an operating environment that is beset by slow growth. Sameer Africa, East African Breweries Limited (EABL), Sasini, and Standard Chartered Bank Kenya make the list of companies that have raised a total of more than Sh12 billion from…
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Pests in South Africa maize strongly suspected to be armyworms
A larvae outbreak which has damaged maize in South Africa’s Limpopo and North West provinces is “strongly suspected” to be the invasive armyworm that has attacked crops in neighbouring countries, a scientist said on Monday. The infestation of fall armyworms – an invasive Central American species that is harder to detect and eradicate than its…