Category: INTERNATIONAL
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Kenya’s Safaricom responds to leaked report
Kenya’s biggest telecoms operator, Safaricom, said on Friday that a leaked draft report on its procurement processes did not show any wrongdoing. Safaricom, which is 40 percent owned by Britain’s Vodafone , had asked KPMG to study its procurement processes, seeking external expert views to help to strengthen compliance and internal governance. The Nairobi-based Business…
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KenGen set to raise $286mln to finance power projects
ter a two-year delay, power producer, Kenya Electricity Generating Company Limited, KenGen, is set to raise $286 million from shareholders through a rights issue. KenGen has launched its much awaited rights issue, aiming to raise 286 million dollars to finance new geothermal and wind power projects. The company is issuing two shares for each ordinary…
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Egypt: Xi Jinping Offers Condolences Over EgyptAir Plane Crash
Chinese President Xi Jinping extended condolences to President Abdel Fattah El Sisi and French President Francois Hollande over ill-fated EgyptAir plane that was heading from Paris to Cairo on Thursday. In condolence messages sent to his Egyptian and French counterparts, Xi Jinping expressed sincere sympathy to the victims’ families, Chinese media reported. EgyptAir flight MS804…
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Algeria: Renewable Energy – 20 Years Electricity Sale Guaranty
Companies producing electricity from renewable energy will benefit from the guarantee to sale their production over twenty years (20), Energy Minister Salah Khebri announced Sunday in Algiers during the Algeria-UK business forum. Speaking at a workshop on renewable energies, held part of the forum, the minister stated that the Algerian regulations guarantee to companies producing…
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South Africa’s Standard Bank loses $19 million in card scam
South Africa’s Standard Bank said on Monday it had lost 300 million rand ($19 million) in a card fraud incident in Japan, after the perpetrators used counterfeit cards to withdraw cash from automatic teller machines. The bank said its South African operations suffered the losses, not its customers, and that the authorities had been alerted,…
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Aviation fuel shortage pushes Nigeria’s aviation industry to a halt
Activities in the Nigerian aviation industry have returned close to normal after coming close to a halt over the weekend following a shortage in aviation fuel. Most airlines in Nigeria cancelled in some cases rescheduled flights over the weekend due to the development. This left thousands of air travelers stranded across airports in Nigeria. Some…
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Dar buys less power in two years as it cuts back Kenya imports
Tanzania has for the first time in two years cut its purchase of electricity from Kenya as its imports of other goods from Nairobi continue to drop. Official data shows that power exports to Tanzania dropped 67.3 per cent to 170,000 kilowatt hours (kWh) in the first three months to March. Kenya and Tanzania have…
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Nigeria: Subsidy Removal to Save Govt N16.4 Billion Monthly – Petroleum Minister
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the federal government would have had to shop for N16.4 billion every month to offset subsidy claims of petrol marketers if it had not taken the decision to remove subsidy on fuel consumption. Kachikwu explained in a tweet on his twitter handle @ibekachikwu…
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Equity Bank to service 41 UN accounts in South Sudan contract
Equity Bank is now a major United Nations (UN) banker in South Sudan, a move that could help it revamp operations in the young democracy. The bank said it will host accounts for 41 humanitarian agencies run under the UN umbrella body which are major beneficiaries of donor and international funding in a country rebuilding…
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Tunisia: Farmers Suffering Damage Due to Strong Winds Will Be Compensated (Minister)
Damage to farming caused by strong winds in several governorates of the country will be under focus at a Cabinet meeting that will take place next week, said Minister of Agriculture, Water Resources and Fisheries Saad Seddik. Speaking at the 11th edition of the Mediterranean Agriculture and Food Industry Fair, he noted that measures will…