Category: INTERNATIONAL
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Algeria: Economic Crisis Is Not Specific to One Country, Says President Bouteflika
The current economic and financial crisis is not specific to one country in particular and it is not the “consequence of failure” in Algeria’s internal economic approach, underlined President of the Republic Abdelaziz Bouteflika. “The economic and financial crisis is not specific to one country in particular, notably in the globalized economy of the world.…
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Kenya:US helping shop for airship to spy on terrorists
The US government is helping Kenya to buy floating airships that the East African nation needs to conduct surveillance missions in the fight against terrorism, drug trafficking and smuggling of contraband goods, the Business Daily has learned. The airships, also known as aerostat or blimp, are lightweight aircraft that use balloon air — helium gas…
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Nigeria: MTN Chief Financial Officer Resigns
The Chief Financial Officer of MTN Group, Mr Brett Goschen is stepping down. He will leave at the end of September “to pursue other interests”, the telecoms giant said in a statement on Monday. Goechen has been MTN’s Chief Financial Officer since August 2013. Before that, he was Chief Executive Offcer of MTN Nigeria. He…
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Zim deploys police amid economic shutdown
Zimbabwe deployed police in townships around the capital, Harare, on Wednesday amid calls for a strike by state workers over an economic collapse that has led to a shortage of cash, import controls and the failure of the government to pay salaries on time. While the government warned workers not to join the stay away,…
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Algeria: Foodstuffs and Cement – Import Prices Decline in Q1
The average import prices of foodstuff and cement imported by Algeria declined in the first quarter of 2016 compared to the same period of 2015, the Trade Ministry told APS. The average import prices of raw materials for the food industry recorded a decrease between 4% and 27%, except crude sunflower oil. For cereals, prices…
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Zimbabwe: Ministry Engages SA Firm Over NRZ Deal
The Ministry of Transport is in negotiations with South Africa’s Transnet Limited over a partnership deal with the National Railways of Zimbabwe. The deal, if successful will secure funding required for the rehabilitation of Zimbabwe’s rail network. Government is also in talks with the Development Bank of South Africa with the aim of securing further…
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Ivory Coast:Concern over main cocoa crop
Cool, cloudy weather and a lack of rain last week in most of Ivory Coast’s cocoa growing regions will have hindered the development of the next main crop, though there was good rain and sunshine in some areas, farmers say. Farmers said this month and August would be crucial for the development of the October-to-March…
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S.Africa’s Uber drivers unionise
Five hundred Uber drivers in South Africa have joined the South African Transport and Allied Workers’ Union (SATAWU) because, they say, they are exploited by the cut price taxi company. They also plan to take the company to the labour court. There are more than 4,000 Uber drivers operating in South Africa, with 2,500 operating…
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Kenya:Firms slow down hiring as demand for local goods falls
International demand for Kenyan goods slumped in June forcing businesses to scale down plans to hire employees. The Standard Chartered (StanChart) business sentiment indicator (BSI), a survey that measures how optimistic businesses feel about current and future economic conditions, dropped to 59.9 from 63.9 points indicating a gloomy market. “Kenyan businesses were particularly concerned about…
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Tanzania: TRA Clears Air on Vat Extent
The 18 per cent Value Added Tax (VAT) on financial transaction charges should be borne by the banks and financial institutions and not customers, the Tanzania Revenue Authority (TRA) has maintained. TRA Commissioner General (CG) Alphayo Kidata has pointed out that the financial institutions should have sought clarification from the revenue authority before misleading the…