Category: INTERNATIONAL
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Egypt: MOU to Boost Investment Between SA, Egypt
South Africa and Egypt have signed a Memorandum of Understanding (MoU) that will boost investment between the two countries, said the Department of Trade and Industry (dti). The MoU was signed between Investment South Africa and its Egyptian counterpart General Authority of Investment and Free Zones (GAFI). “The MoU is designed to conduct an effective…
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South Africa:Barloworld CEO to step down
Global industrial group Barloworld’s CEO Clive Thomson will step down next year. Thomson who has been with the group for a decade will hand the baton to Dominic Sewela at the industrials’ next annual general meeting to be held on 8 February 2017. Sewela, who was appointed as Deputy Chief Executive of Barloworld on 1…
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Tanzanian firm wins Sh927m award for 2007 post-poll loss
One of Tanzania’s largest consumer goods dealers, Modern Holdings East Africa (Masafi), has won a Sh927 million compensation for a consignment it lost during the 2007-2008 post-election violence in a landmark case that could open a floodgate of similar suits against the Kenyan government. The High Court in Mombasa ordered the Kenya Ports Authority (KPA)…
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Zimbabwe: Govt Open to Innovative Ideas to Boost Farming
Government is open to new and innovative ideas to boost agricultural production and enhance national food security, a senior official has said. Opening a high-level stakeholder validation workshop on agricultural policy in Harare on Wednesday, Deputy Chief Secretary in the Office of the President and Cabinet Retired Colonel Christian Katsande said Government also came up…
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Nigeria: ‘Zamfara Loses U.S.$500 Million to Illegal Mining Annually’
The governor of Zamfara state, Abdulaziz Yari Abubakar has raised the alarm that the state experiences an annual loss of over five hundred million US Dollars ($500m) to improper mining business. Speaking during a special paper presentation by scholars held at the JB Yakubu Secretariat, Gusau to mark the 20th anniversary of the state, the…
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Nigeria spends billions to pull country out of recession-Buhari
Nigeria has spent 720.5 billion naira ($2.4 billion) on capital expenditure this year to help drag Africa’s biggest economy out of recession, President Muhammadu Buhari said on Saturday. “I believe that this recession will not last,” Buhari said in a televised speech marking the country’s independence day. “Several hundreds of thousands of (unemployed) workers will…
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Kenya:Uhuru picks team to spearhead reforms in troubled coffee sector
President Uhuru Kenyatta has appointed a team to oversee reforms aimed at turning around the coffee industry in a move likely to test the Judiciary’s powers and spark fresh turf wars with counties. In a gazette notice published on Friday, President Kenyatta appointed a committee to implement recommendations made recently by a coffee taskforce. The…
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Kenya:Toyota targets more contracts after signing deal
Japanese conglomerate Toyota Tsusho Corporation is eyeing more big-ticket contracts in Kenya after signing a support deal with the government. The Nagoya-based company, a unit of the Toyota Motor Corporation, says it is ready to undertake several projects in diverse sectors of the economy including mining and power generation. This will significantly expand its business…
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Morocco’s Business Express Moving in the Right Direction
When companies gather in Seattle, Washington at the Boeing-hosted US-Morocco Business Forum on October 3, they will find out more about three key benefits of doing business in the kingdom: its geographic location, close ties to the US, and well-qualified business partners. According to Walter Siouffi, Chairman of the Am-Cham in Morocco, headquartered in Casablanca,…
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Malawi: The Failed Promise of Mining Embitters Malawians
Malita had high hopes when she first heard that foreign and domestic companies would start mining in her area of Malawi. The government and the companies promised jobs, better schools and improved access to healthcare in her village. They didn’t tell people about the risks mining can bring. She only learnt that it can involve…