Category: INTERNATIONAL
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Kenya:President Kenyatta explains why Kenya is failing to root out corruption
Kenyan President Uhuru Kenyatta accused the judiciary and other agencies of undermining efforts to root out corruption, addressing a campaign pledge from his 2013 election and one which he is likely to be challenged on in next year’s vote. Despite pledges four years ago to crack down on corruption, critics and opponents say the government…
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Kenya:Local suppliers eye Sh60bn tenders as Uhuru flags off SGR
Kenyan manufacturers were yesterday still waiting for a clear roadmap to their share of the multi-billion shilling tenders for second phase of the standard gauge railway project that President Uhuru Kenyatta is expected to launch this morning. Kenya Association of Manufacturers chief executive Phyllis Wakiaga said local industrialists expect the government to enforce the law…
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Nigeria’s retail landlords find the going tough
Amid slowing economic growth, forex shortages and currency depreciation, retail rentals have doubled in naira terms since December 2014. To retain tenants, retail landlords have had to offer significant rental concessions which include rent free periods, fit out allowances, pegged exchange rates, concessions on rents for limited periods and step-up lease agreements stipulating that the…
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Cost of power generation in SA
The Energy Centre of the CSIR has moved to provide updated and consistent information on the cost of new power from wind, solar PV, baseload coal IPP, baseload Eskom coal, and nuclear power generation technologies in South Africa. In a presentation dated 14 October 2016, the head of CSIR’s Energy Centre, Dr. Tobias Bischof-Niemz, and Ruan…
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Is Nigeria losing its investment appeal?
Although the Central Bank of Nigeria left the repo rate unchanged at 14% per annum last month in a bid to control inflation and support the naira after abandoning the currency peg to the dollar in June, the economy continues to experience challenges. The fall in commodity prices that started at the end of 2014…
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Kenya:State snaps up cheap billions as banks seek home for excess cash
High domestic debt maturities are forcing the Treasury to accept a larger volume of bids in the short term securities auctions as interest rates head for the floor. This month, investors have offered a total of Sh50.4 billion for the three tenors of Treasury bills against the advertised Sh32 billion, with the government taking up…
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Kenya poised for another first in mobile money revolution
Kenya is poised to enter a new mobile money economy era, judging by the steady rise in cashless transactions for goods and services. A new study by consultancy firm Deloitte says Kenya is ripe for a mobile money revolution and urges local businesses to align their sales models with the emerging reality to stay ahead…
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S.A:Retailers have a role in transforming economy – Pick n Pay
As always, I want to begin by thanking the Pick n Pay team for delivering this result. Everyone in our business plays their part – colleagues who work in our supply chain, our stores, and of course Richard and his team, who drive the operation from the centre. It has not been an easy six…
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World Bank bemoans growing inequality in sub-Saharan Africa
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A new research released by the World Bank at a forum called “End Poverty” has bemoaned the growing level of poverty in sub-Saharan Africa. According to the report, the inequality gap between the poor and the rich has widened due to excess focus on urban development to the neglect of agriculture. Attributing the phenomenon to…
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S.A finmin Pravin Gordhan’s affidavit shows suspicious Gupta transactions worth $490mn
South African Finance Minister Pravin Gordhan has revealed in a court affidavit distributed by the Treasury on Sunday that 6.8 billion rand ($490 million) in payments made by wealthy brothers Ajay, Atul and Rajesh Gupta, companies they control, and other individuals with the same surname have been reported to authorities as suspicious since 2012. The…