Category: INTERNATIONAL
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Kenya:Vodafone recalls Safaricom finance chief from Nairobi
Telecoms operator Safaricom’s chief financial officer (CFO), John Tombleson, is set to exit the company after a five-year stint, the Business Daily has established. Safaricom chief executive Bob Collymore declined to reveal the reason behind Mr Tombleson’s imminent departure but said it is not in any way linked to matters raised in a forensic audit…
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Egypt: U.S.$25,000 to Be Handed to Families of Egyptair Plane Victims
The chairman of EgyptAir, Safwat Muslim, said on Monday that the company has agreed to allocate a compensation of $25,000 to the families of the victims of the plane that fell into the Mediterranean last May. Muslim said in a press statement that the Council of Ministers will be issuing death certificates for the victims…
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Nigeria: Shell Pays Nigeria U.S.$43 Billion in Four Years
Shell Companies in Nigeria paid $43 billion into the Federation Account between 2011 and 2015, just as the companies spent a total of $195.5 million on social investments in the country in 2015, thus making Nigeria the largest concentration of social investment spending in the Shell Group. Briefing journalists at the weekend on the operational…
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South Africa:Car tech device to reduce fuel costs
A new device to help save fuel costs will hit the commercial market before the end of the year, the developers have announced. Hydroflex is in the final stages of commercially launching its hydrogen-based fuel efficiency system for petrol and diesel engines. “We have a device that is cost effective and delivers value to the…
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Egypt: Russian Delegation to Inspect Egyptian Airport Security Expected to Arrive – Official
Egypt’s aviation ministry is expecting the arrival of a Russian delegation to inspect security measures in Egypt airports, said the chairman of the Egyptian Holding Company for Airports and Air Navigation (EHCAAN). The delegation’s inspections must be made before the resumption of direct Russian flights to Egypt. Moscow has suspended flights to Egypt after the…
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Tanzania: Five Percent of Tanzania’s Forex Reserve to Be in Chinese Currency
The Bank of Tanzania governor, Prof Benno Ndulu, said the government’s decision to set aside five per cent of foreign currency reserve in Chinese currency, Yuan has widened opportunity for reaping more benefits from bilateral trade between the two countries, especially the purchase of Chinese bonds. Speaking to the media at the sideline of the…
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Nigeria: Why We Reduced MTN Fine – Govt
The Minister of Communications, Adebayo Shittu, has said that the $5.2billion fine slammed on telecommunication giant, MTN, was reduced to encourage foreign investments into the country. Mr. Shittu said this on Sunday in Ibadan at an award ceremony in honour of Lekan Balogun, the Otun Olubadan of Ibadanland. He said that the Federal Executive Council,…
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Kenya:US tobacco firm Alliance One loses Sh5bn to fraud
US-based tobacco firm Alliance One has confirmed losing Sh5.08 billion from its Kenyan subsidiary following a seven-year fraud reportedly executed by some of its employees. The company said it had dismissed the employees believed to be involved in the scheme and was also pursuing legal action. “We promptly engaged a third party investigator who determined…
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South Africa:Power station fault and cable theft cause outages in Joburg
A fault at a power station and cable theft resulted in power outages in two areas in and around Johannesburg on Monday, Eskom said. “Earlier today the Kelvin power station experienced a fault, which meant that it could not energise its supply areas in Johannesburg,” Eskom said in a statement. “Power has now been restored…
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Tunisia to Host World Telecommunication Standardization Assembly
ITU and the government of Tunisia have signed the Host Country Agreement formalizing arrangements for the 2016 World Telecommunication Standardization Assembly (WTSA-16), an ITU governing conference held every four years to define the strategic direction and structure of the ITU Telecommunication Standardization Sector (ITU-T). The agreement was signed by ITU Secretary-General Houlin Zhao and Tunisia’s…