Category: INTERNATIONAL
-
Kenya:Insurance industry should adopt latest technology to curb fraudulent claims
Last year, the local media highlighted an insurance fraud case where a husband and wife decided to fake the husband’s death and the death certificate, then have the wife claim compensation from their insurer. Prior to this story, there had been a case involving 11 individuals who were arrested and arraigned in court, suspected to…
-
Kenya:Bankers want CBK action on lenders kept private
The Central Bank of Kenya should keep disciplinary actions taken against commercial banks private in order to avoid erosion of public confidence in the sector and dimming a lender’s chances of recovery, a new survey shows. Fund managers, bankers and investors interviewed by research firm HTM Capital while supporting the current clean up in the…
-
Kenya:Africa and allies seek new deal from Nairobi’s UN trade talks
The Fourteenth session of the United Nations Conference on Trade and Development (UNCTAD) taking place in Nairobi entered a crucial stage yesterday with the opening of the first committee of the whole conference where critical issues at the centre of global commerce were discussed. Kenya’s Foreign Affairs secretary, Amina Mohamed, who is chairing the committee,…
-
Nigeria:Many challenges for entrepreneurs
The macroeconomic outlook in Nigeria is a dire one, with the nation headed for a recession following two sessions of consecutive negative growth, double digit inflation, foreign exchange restrictions and the delay in the implementation of the 2016 budget. In a nation where banks are not prone to lending, startups and experienced entrepreneurs remain pessimistic…
-
Zimbabwe finance minister says sanctions to blame for cash crunch
Zimbabwe’s finance minister blamed international sanctions on Sunday for a cash crunch that has forced the government to delay wages to soldiers and civil servants as President Robert Mugabe faces rare popular protests. Western countries imposed sanctions in 2001 on Mugabe’s government over allegations of vote-rigging and human rights abuses, which he rejects, while lenders…
-
Egypt:High-Tech Jobs on the Ground Keep Economy Flying
Many different advanced skills are required to run an airline. While pilots get most of the attention, the technical and engineering knowledge required to maintain, repair and overhaul (MRO) aircraft engines are equally crucial. Only highly skilled professionals with advanced training can work on these machines. So as EGYPTAIR works with GE to expand its…
-
Tanzania: …JPM Endorses Touchy Vat On Tourism, Transit Cargo
Heated debate on the 18 per cent Value Added Tax (VAT) on tourism services and transit cargo was yesterday closed, with President John Magufuli strongly backing the new charges. The president said the government was determined to exhaust all available sources in its quest to increase revenues to fund development projects. “It’s better to have…
-
South Africa opens tender for wireless broadband licenses
South Africa’s telecoms regulator opened a tender to bid for high-speed wireless broadband licenses on Friday as it seeks to increase access to the Internet and bring down costs for consumers. The high-speed broadband, known as spectrum, has been packaged into four lots with varying frequencies. The reserve price for the lots starts at three…
-
Nigeria: In search of stable power supply
Years after Nigeria privatised its power sector, Nigerians are yet to reap the benefits of private sector reforms. National electricity output continues to hover below 4,000 megawatts in a country of over 170 million people. Although investors who acquired power assets on November 1, 2013 did so with some sense of pessimism, promises of a…
-
Nigeria: Alade Market – Developer Denies Invading Market With Thugs
The private developer of Alade Market, Lagos, has debunked claims that he invaded the market with armed thugs to harass traders. Lai Omotola, the Managing Director of Master Reality International Concepts Ltd, said in a statement Sunday that the traders accusing him of forceful eviction were not genuine ship owners in the market. “There was…