Category: Africa
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South Africa’s rand firmer ahead of interest rate decision
South Africa’s rand firmed early on Tuesday, extending gains from the previous session ahead of a central bank policy meeting where the regulator is expected to keep rates on hold over concerns of high inflation and low economic growth. * At 0650 GMT, the rand traded at 13.4350 per dollar, 0.24 percent firmer from its…
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U.S. State Dept approves possible $418 mn military aircraft sale to Kenya
The U.S. State Department has approved a possible $418 million sale to Kenya of aircraft with weapons and related support, a Pentagon agency said on Monday. The Defense Security Cooperation Agency said in a statement the approval was for the possible sale of up to 12 Air Tractor AT-802L planes and two AT-504 trainer aircraft,…
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Nigeria: MTN May Postpone Nigeria Listing to 2018
The MTN Group says it may put off plans to list its Nigerian operation until 2018 as Africa’s largest wireless carrier works to resolve a regulatory dispute and awaits an economic recovery in the continent’s most populous country. Its chairman and acting chief executive officer, Phuthuma Nhleko, gave the indication weekend at the annual meeting…
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Nigeria: Power Generation Drops to 2,662 Megawatts
The Transmission Company of Nigeria, TCN said the nation’s power generation capacity dropped from 3,959 megawatts on January 4 to 2,662 megawatts on January 22. The Nigerian Electricity System Operator, SO, website, a sub agency of TCN, disclosed the figure in its daily forecast on power generation data in Lagos on Sunday. The News Agency…
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Tanzania:Local Economy Impresses IMF
The International Monetary Fund (IMF) Resident Representative in Tanzania, Mr Bhaswar Mukhopadhyay, said yesterday that his organisation is satisfied with the speed of Tanzania’s economic growth and that the country is among the fast growing economies in Africa. Mr Mukhopadhway said IMF expects to witness economic growth in the coming years in collaboration with private…
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Japanese Government to Support Irrigation in Uganda
The Japanese Ambassador to Uganda, Mr Kazuaki Kameda, has pledged his government’s support towards promoting irrigation in the country in order to enable Uganda produce adequate food. While commissioning piped water system at Mushumba Primary School in Ryeru Sub-county last week, Mr Kameda said the Japanese government will encourage people to adopt irrigation as way…
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Liberia: Gas Goes Up 15 Cents, Fuel Price Steady
The Government of Liberia through the Liberia Petroleum Refining Company (“LPRC”) and the Ministry of Commerce & Industry has announced an increase in the prices of gasoline on the Liberian market. According to a petroleum price circular issued by the government, the retail pump price for a gallon of gasoline has increased from US$3.01 or…
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Nigeria: Presidency Explains Current Status of Social Investment Programmes
As the Buhari administration proceeds with the implementation of its Social Investment Programmes, the Federal Government has now released over N375 million this year to feed almost 700,000 primary school pupils in 5 states, while virtually all states of the federation, except two, are now being processed for the payment of N30,000 monthly stipends to…
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Uganda: Oil Cash Payout Leaves Government Arms Bickering
Separation of powers. These three words have dominated political chatter this week. How should the three branches of government share power? Where is the red line that must not be crossed? What amounts to interference by one government power centre into the work of another? These are the questions that kept keen observers second guessing…
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Egypt: Unemployment Rate Among Women Exceeds 25 Percent – Labour Minister
Minister of Labour Mohamed Saafan said in press statements on Thursday that the unemployment percentage among women exceeds 25%, “which is unprecedented.” He also stressed on the importance of increasing efforts to overcome this plight. Moreover, Saafan said that as Egypt embarks on the “year of women,” there should be significant change in increasing women’s…