Category: INTERNATIONAL
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South Africa:Eskom responds in detail to Gupta coal contract allegations
Eskom on Sunday denied having “blindsided” Exxaro in granting a contract to supply the Arnot power station to Tegeta Exploration and Resources – owned by the Gupta family and President Jacob Zuma’s son Duduzane. This was after City Press reported on Sunday that this Eskom contract worth R564m lies at the heart of a “spectacular”…
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Nigerian chaos leaves refiners cold and oil unsold amid outages
Refineries from India to the United States are backing away from buying Nigerian oil amid heightened uncertainty about deliveries as the country squares up to militants in the restive Delta region. Their reluctance to buy is limiting the prices Nigeria can get for its oil even as there is less of it – another hit…
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Egypt Foils Illegal Migration Attempts Off Its Coasts
Egyptian border guard forces have thwarted illegal migration attempts by 445 persons before they could set sail from the country’s coasts, Egyptian Military Spokesman Mohamed Samir said on Friday. They included 112 Egyptians, as well as Comoran, Ethiopian, Eritrean, Gambian, Liberian, Somali, Sudanese and Yemeni nationals, Samir added in a statement. Egyptian forces stopped 267…
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Kenya:Central bank seeks IT experts to monitor rogue bankers
The Central Bank of Kenya (CBK) is seeking tech-savvy professionals to watch over banking transactions amid rising confidence following the collapse of three banks. Treasury secretary Henry Rotich said the banking regulator will hire Information Technology (IT) staff for CBK’s supervisory department. They will also be trained on forensic auditing. This follows revelations that the…
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Zimbabwe’s Mugabe says “surrogate currency” will prevent dollar outflow
Zimbabwean President Robert Mugabe said on Thursday the introduction of local bank notes by the central bank later this year, which he called a “surrogate currency”, would help prevent foreigners taking greenbacks out of the country. He also said the shortage of U.S. dollars in the economy would be overcome soon, although he did not…
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Rwanda:Textile, Leather Industry Players Push for Skills Development
Skills and infrastructure development should be seen as central in the implementation of the 2016/17 National Budget that was designed to allocate 27 per cent to key priority sectors, including textile, garments, and leather, sector players say. While used shoes and clothes suffered a major blow in the new Budget with a 12 per cent…
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South Africa’s MTN agrees to pay $1.67 bln of Nigeria fine
South Africa’s MTN Group said on Friday it will pay 330 billion naira ($1.67 billion) over three years to the Nigerian government to settle a fine. In October, Nigeria originally fined the mobile phone operator $5.2 billion for failing to disconnect users in Africa’s most populous nation. ($1 = 198.0000 naira) MTN’s full statement Further…
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South Africa:Rand steady, vulnerable to risk aversion
The rand steadied in early trade on Monday, but looked vulnerable to risk aversion before the US Federal Reserve’s monetary policy meeting this week and a referendum of Britain’s potential exit from the European Union next week. At 08:45, the rand traded at R15.2350/$, not far off its New York close of R15.2420/$ on Friday.…
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Kenya: Tax relief offers super earners Sh600 monthly benefit
Super salary earners will have a monthly benefit of about Sh600 per month following the review of income tax bands and the increase in personal relief aimed at easing workers duty payment burden. The proposals which seek to expand bands by 10 per cent and increase the personal relief from the current Sh1, 162 to…
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S.Africa’s NUM union demand security before resuming work at Northam mine
South Africa’s National Union of Mineworkers (NUM) will not return to work at Northam Platinum’s violence-hit Zondereinde mine before they receive assurances over security from police and the company, a spokesman for the union said on Thursday. The platinum producer suspended operations at the mine on Monday after a worker was fatally stabbed at the…