Category: INTERNATIONAL
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Zimbabwe dam levels at record lows after drought
Zimbabwe’s dam levels have fallen to 42 percent following a devastating drought that has left millions in need of food aid and local councils rationing water, Vice President Emmerson Mnangagwa said on Friday. An El Nino weather pattern, which ended in May, triggered drought conditions across the southern African region that hit the staple, maize,…
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Nigeria: World Bank, IMF Put Pressure On Buhari to Come Up With Economic Blueprint
The World Bank and International Monetary Fund, IMF, have piled pressure on the Federal Government to come up with an economic blueprint, if its drive for foreign loans was not to be stalled. Vanguard gathered that officials of both financial institutions have questioned the Minister of Finance and her team over the absence of a…
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Nigeria: Govt Hands Over 79 Trucks of Grains to Borno for IDPs
Borno state governor, Kashim Shettima, yesterday received a federal government delegation led by the Minister of state for Works, Power and Housing, Hon Mustapha Baba Shehuri, who is in the state to handover grains to the state government for onward distribution to IDPs and also inspect road construction projects in the state and beyond. Speaking…
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Kenya:Mumias Sugar losses up as firm blames woes on shortage of cane
Mumias Sugar Company has registered a two per cent increase in losses in the year ending June 2016 as a severe cane shortage took a toll on the firm’s earnings. The miller’s after tax loss grew to Sh4.7 billion in the year under review from Sh4.6 billion in 2015 as the once vibrant miller struggles…
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Liberia: Morocco to Raise U.S.$30 Billion for Africa Agriculture Sector
The Government of Morocco has launched a new initiative that seeks to mobilize US$30 billion to assist African countries in the agriculture sector to transform and adapt to changing climate. According to the media advisory on the 22nd Sitting of the Conference of the Parties (COP22), discussions will center on how to implement the new…
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KRA sacks 35 officers for fraud, opens senior staff to graft probe
Kenya Revenue Authority has in the past three years sacked 35 employees involved in tax fraud, in a fresh corruption purge meant to plug leakages that cost the country billions of shillings in tax revenues. The taxman has also revealed that it handled a total of 148 cases involving “unethical conduct” between July 2013 and…
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Nigeria’s $10bn infrastructure programme to tackle insurgency in oil delta
Nigeria launched a $10 billion infrastructure programme on Thursday in its restive Delta region as part of a plan to end an insurgency that has hobbled oil production. President Muhammadu Buhari will meet representatives of militant groups and community leaders from the Niger Delta in Abuja next week in a bid to end the attacks,…
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S.A’s petrol price to rise by 3.6 percent next week
The retail price of petrol in South Africa will rise by 3.6 percent from Nov. 2, while the price of wholesale diesel will go up by 5.9 percent, the energy department said on Friday. The price of 93 octane petrol will rise by 45 cents to 12.79 and 95 octane by 45 cents to 13.05…
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S.A:Let me do my job – Finance Minister Gordhan
South Africa’s embattled Minister of Finance, Pravin Gordhan, didn’t show any anxiety a few days before his fraud trial in the capital Pretoria. Minutes before Gordhan’s CNBC Africa-Discovery Invest Exclusive Insights interview on Friday at the Johannesburg Stock Exchange in Sandton, CEOs and business executives came to support him. A standing ovation was observed. “When…
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Security first goal in Nigeria’s oil roadmap
Nigerian President Muhammadu Buhari will meet leaders of the restive Niger Delta in Abuja next week in an attempt to end an insurgency in the oil-producing region, the oil minister said. Ending unrest in the region that accounts for most of Nigeria’s oil production was the first goal of an energy industry roadmap unveiled on…