Category: INTERNATIONAL
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Nigeria: Govt Reveals Strategy to Reduce Cost of Food Items
The Federal Government has adopted measures to bring down prices of food items in the country, Agriculture Minister Audu Ogbeh has said. The minister disclosed this to State House correspondents yesterday after the Federal Executive Council meeting chaired by Acting President Yemi Osinbajo. He said the task force set up by government last week to…
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Kenya:US private equity funds in Sh10bn bid for Java House chain
Two American private equity funds are among a group of institutional investors in the race to acquire Kenyan coffee chain Java House in a transaction estimated to be worth $100 million (Sh10 billion). Sources familiar with the deal said Washington-based Carlyle Group, which has $169 billion under its management and San Francisco-based TPG, a $74…
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Kenya:Tullow Oil to spend Sh22.5bn on Kenya this year
British explorer Tullow oil will spend at least Sh22.5 billion on appraisal and exploration activities in Kenya this year. The Africa-focused oil and gas producer also plans to carry out four such ventures and 82 development activities in the East Africa region at a cost of Sh48.5 billion. In a statement released Wednesday the group,…
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S.A:JSE prepares for second fish listing this year as Brimstone prepares to list Sea Harvest
Brimstone plans to list Sea Harvest. This will be the JSE’s second fish listing of the year. Last week African Equity Empowerment Investments revealed it will list its fishing and food unit on the Johannesburg Stock Exchange on March 2. A capital raising of up to R1.5 billion by private placement will be undertaken by…
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S.Africa’s Sappi to invest $305 mn in North America & Europe
South African pulp and paper maker Sappi will invest $305 million in North America and Europe to increase its packaging capacity, the firm said on Wednesday after releasing its first-quarter results. Sappi, which makes 50 percent of its sales in Europe and 27 percent in North America, is reducing its dependence on graphic and glossy…
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Banks get CBK backing to launch own mobile cash transfer system
The Central Bank of Kenya (CBK) has given six banks the green light to launch a mobile money transfer platform, heralding a new dawn in the highly competitive and lucrative financial services market segment. The Kenya Interbank Transaction Switch, which has been developed by the Kenya Bankers Association (KBA), will, among other services, facilitate real-time…
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Kenya:North Rift farmers defy Uhuru maize export ban
North Rift farmers have defied a presidential decree banning maize export as high prices in neighbouring markets continue to pull majority to dispose of their stocks across the border, threatening to worsen the country’s food situation. The farmers in the region, Kenya’s food basket, continue to ship their produce to the neighbouring states where a…
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5pc of Kenyans illiterate despite free education programme
At least 5 percent of Kenyans have no formal education while more than a third have not gone beyond primary school level, a new survey shows. Released by Ipsos Synovate this week, the study indicates that despite Kenya introducing the free primary education (FPE) programme in 2002 and registering increased enrolment rates, more than 44…
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Oil market ‘responding positively’ to output cut: OPEC president
Qatar’s energy minister, the current OPEC president, said Wednesday that world oil markets were “responding positively” to output cuts implemented by the cartel and some non-cartel producers. The move to tighten the taps is aimed at reducing a glut of oil on world markets that has depressed prices and taken a heavy toll on the…
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Chamber of Mines complain about foot dragging by government over mining laws
The Chamber of Mines – that represents more than 90% of miners in South Africa the biggest mining nation on the continent – has called for the government to hurry up with amendments to the country’s mining laws and says it could go to court if it is not happy. The South Africa government has been rewriting…