Category: INTERNATIONAL
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Kenya:Relief for power users as expensive Aggreko diesel generators switched off
The Kenya Electricity Generating Co (KenGen) has finally switched off Aggreko’s costly emergency power from the national grid after twice seeking extensions to the contract which expired last week. KenGen’s 30-megawatt gas turbine — which replaced the Aggreko’s diesel-fired Muhoroni temporary power plant — began supplying to the grid last Wednesday. The Energy Regulatory Commission…
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Kenya:Consumers face expensive sugar as millers start raising prices
Consumers face expensive sugar after millers started increasing factory prices of the sweetener in response to a shortage, hurting family budgets already squeezed by high flour and petrol prices. The cost of a 50-kilogramme bag of sugar at the factory rose Sh350 last week to Sh4,600 and millers forecast the commodity will maintain an upward…
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Nigeria: Why We’re Insisting On 45 Percent Electricity Tariff Hike – NERC
The Nigerian Electricity Regulatory Commission (NERC) has given reasons why it rejects last Wednesday’s order by the Federal High Court, Lagos declaring as illegal the February 1, 2016 electricity tariff. Justice Mohammed Idris had ordered the electricity sector regulatory agency to immediately rescind the multi-year tariff order (MYTO), as the process that led to a…
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SA coughs up over R470m for AU in 2015/16
South Africa is set to contribute even more to the African Union (AU) under a new self-funding model adopted at the continental body’s summit in Kigali, Rwanda this weekend. From 2017 all countries will be required to impose a levy of 0.2% on all their “eligible imports” to contribute to the AU, which meant the…
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Nigeria:Infrastructural Challenges Raise LPG Price
Except the issues of high cost of foreign exchange, poor logistics, lack of investment, infrastructural challenges, and limited terminals are urgently addressed, the price of Liquefied Natural Gas (LPG) or cooking gas will continue to rise, according to stakeholders. Already, the price of refilling a 12.5kg gas cylinder has increased from N2, 500 to between…
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Kenya:Ouko says Sh2.5bn roads levy funds missing
Nearly Sh3 billion meant for the construction of roads in the financial year ended June 2015 has gone missing, turning the spotlight on spending in the Ministry of Transport and Infrastructure that receives the largest allocation of public funds every year. Auditor-General Edward Ouko says the department failed to explain the whereabouts of Sh2.6 billion…
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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…
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Nigeria: Lagos Ban On Street Trading – the Issues, Emotions, Possibilities
We will be watching out for buyers and sellers; all we need is just a scapegoat. Don’t buy plantain chips or any other items in traffic from July 1, buyers beware. The issue is we need to enforce our laws because we already have a law in respect of that and then there is a…
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Algeria Able to Cut Imports By $30 Billion in Four Years
Algeria can reduce its imports by nearly $ 30 billion in four years, notably thanks to new projects related in cement, mining and vehicles, said Wednesday in Algiers Minister of Industry and Mines Abdeslam Bouchouareb. Algeria can locally generate nearly $30 billion of imports in cement, petrochemicals and emerging industries, like cars that have recently…
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Egyptair Air Buys 9 Boeing Aircrafts
EgyptAir said that it will buy 9 Boeing aircrafts of model (800-737) for $ 864 million. Dubai Aerospace Enterprise (DAE) Ltd UAE-based will finance this deal, according to Boeing’s web site. The announcement was revealed during the activities of Farnborough Airshow currently held in the UK. “Over the years, Boeing has played an important role…