Category: INTERNATIONAL
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South Africa-MTN lags rivals in customer satisfaction
MTN lags behind rivals Vodacom, Telkom and Cell C in customer satisfaction, according to new research that shows the industry broadly is not faring well in keeping clients happy. Although average customer satisfaction scores with wireless internet providers has improved slightly over the past year, new findings from the South African Customer Satisfaction Index (SAcsi) show that…
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Zambia’s planned IMF package dulls impact of Moody’s downgrade
A ratings downgrade by Moody’s would have little impact on Zambia as it was already negotiating a programme with the International Monetary Fund (IMF), officials and analysts said. Moody’s downgraded the southern African nation’s long-term issuer rating to B3 from B2 late on Tuesday and changed the outlook to negative from stable, due to anticipated…
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Uganda: AG Queries Shs44 Billion Court Payments
A row has erupted between officials in the ministry of Finance and the Auditor General (AG) over the payment of court awards to the tune of more than Shs70b. Some of the payments being questioned by the AG were apparently ordered for by President Museveni, according to documents from ministry of Finance. For instance, in…
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Uganda: Shs42 Billion Airport Expansion Starts
Government yesterday launched a Shs42.6b project to expand Entebbe International Airport’s departure and arrival terminals. President Museveni in August last year, launched a $200m expansion works on the airport but Mr John Byabagambi, the Works minister, said the project he was launching was independent of what the president had commissioned. He said President Museveni launched…
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Investors want answers from Mozambique, banks over loan mystery
Investors holding Mozambique’s recently restructured ‘tuna bond’ are demanding answers from the government and its bankers over what the International Monetary Fund says are previously undisclosed loans that could exceed $1 billion. The revelations have rocked the relationship between one of the world’s poorest countries and the International Monetary Fund (IMF), which last year agreed…
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SA plans to contact banks that closed Gupta accounts
South Africa’s government said three cabinet ministers will contact banks that closed accounts belonging a company controlled by members of the Gupta family, who’re friends of President Jacob Zuma, to determine the reasons for their actions. Oakbay Investments has been dropped as a client by Barclays Plc’s Absa unit and FirstRand ’s First National Bank,…
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New rules to allow KBA blacklist errant banks from clearing house
The Kenya Bankers Association (KBA) has threatened to kick out errant members from its Clearing House in June, a move that could make it difficult for penalized lenders to conduct financial transactions with other banks. KBA chief executive Habil Olaka told the Business Daily that the body will blacklist commercial banks that break code of…
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Niger refinery operations resume after strike
Niamey – Operations restarted at Niger’s only oil refinery at the weekend after a strike over working conditions and pay disrupted fuel deliveries for three days, a union official said on Sunday. The strike at the Soraz refinery, a joint venture between China National Petroleum Corp (CNPC) and the Niger government, began on Wednesday, restricting…
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Algeria: Total of 3,852 Mines Dating From Colonial Era Destroyed in March 2016
A total of 3,852 mines dating from the colonial period were discovered and destroyed in March 2016 as part of mine-clearing operations carried out by units of the People’s National Army along the eastern and western borders, said Sunday an official source. Army units destroyed 392 mines antipersonnel, 638 anti-group mines and 570 flare mines…
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Tanzania: Much-Awaited Cag Report for Tabling in the House Friday
The government will on Friday table to the National Assembly the much-awaited report of the Controller and Auditor General (CAG). According to the timetable issued by the office of the National Assembly, the 2014/15 report would be tabled before Parliament by the Finance and Planning Minister, Dr Philip Mpango. It shows that the government’s response…