Category: INTERNATIONAL
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Kenya Airways halts flights to South Sudan capital Juba
Kenya Airways said on Sunday it was suspending flights to South Sudan’s capital Juba after a flare-up of fighting between rival factions in the unity government. “We wish to advise our guests that we have suspended flights to Juba, South Sudan due to uncertain security situation,” the airline wrote on its Twitter account. The clashes…
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Kenya:Real estate slowdown leaves banks with rising pile of bad loans
Kenyan banks reported a steady rise in the pile of bad debts in the first three months of the year saddled by a slowdown in the real estate sector and increased retrenchment of formal sector workers, according to newly-released official data. Gross non-performing loans (NPLs) rose 15.8 per cent to Sh170.6 billion in March compared…
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Nigeria’s music scene becomes a cultural export
Each night as darkness descends on Lagos, Nigeria’s commercial capital, sweat-drenched young men and women descend on the megacity’s numerous nightclubs to dance to the latest hit songs. Much like the famous “Nollywood” film industry, music is now big business in Africa’s most populous nation. The music industry’s revenue from music sales was $56 million…
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Nigeria: No Bank Is in ‘Distress’ – CBN
The Central Bank of Nigeria (CBN) on Wednesday moved to reassure bank customers unsettled by last Monday’s decision to take over the management of Skye Bank. The CBN had forced the resignation of members of the bank’s board and management team, in what it called “proactive and unavoidable regulatory step to forestall the bank from…
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South Africa:Siemens targets building gas-fired power plants
Siemens is interested in bidding to build gas-fired electricity-generating capacity in South Africa as the German engineering company boosts its presence in the country and the government seeks to end power shortages. “Gas can be a complete game-changer for the South African economy,” Siemens South Africa Chief Executive Officer Sabine Dall’Omo, 58, said in an…
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UK:Tata board meets to discuss UK steel
The board of Tata Steel is meeting in India to discuss the future of its UK steel operations. It is expected to “pause” the sale of the main Port Talbot plant, but go ahead with the sale of its speciality business, which employs 2,000 people in Hartlepool, Rotherham and Stocksbridge. Tata is thought to be…
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Tanzania: How Agents Steal From Cotton Farmers
The Weighing and Measures Agency (WMA) has alerted cotton farmers in the Lake Zone against unscrupulous agents who tamper with weighing scales. WMA director of technical services Stella Kahwa said the agency found out that many agents had tampered with weighing devices. Ms Kahwa said out of 191 weighing scales inspected by the agency in…
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Zimbabweans stay at home in protest against economic hardships
Zimbabweans stayed at home on Wednesday and foreign banks and most businesses in the capital shut down, in one of the biggest protests against high unemployment, an acute cash shortage and corruption for nearly a decade. Evan Mawarire, a pastor whose social media movement #ThisFlag organised the “stay-away”, demanded that President Robert Mugabe fire corrupt…
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Tanzania: Kilindi District Appeals for Assistance in Gold Mining
A quarterly news online magazine of the Centre for Exploration Targeting, (CET), says ‘Handeni Region’ appeared on the basis of the aeromagnetic interpretation to represent an extension of the Lake Nyanza Super-terrane which contains the most prospective segment of the Lake Victoria Goldfields in the Sukumaland Terrane to the west-northwest. Amphibolite belts of similar size…
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U.K.:More real estate funds stop investors withdrawing cash
The U.K. market for commercial property has just been hit with another massive Brexit aftershock. Four more big asset management firms have halted trading in commercial property funds in the past 24 hours, the latest sign of turmoil since the U.K. voted to leave the European Union on June 23. A total of seven funds…