Category: INTERNATIONAL
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AU to introduce African passport in July 2016
Africa will have its own passport from July 2016. The move is to enable easy movement of Africans within the continent. [contextly_sidebar id=”0HFLJOa4osNIlMp3x30wXocBLSrybZFI”]The move will see all African countries granting a 30-day visa on arrival to all African passport holders. Earlier Ghana’s Foreign Affairs Ministry clarified that the visa-on-arrival policy for African citizens will not…
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SA could look abroad to finance deficit
SA may tap international capital markets for the first time in almost two years to finance a widening budget deficit after a bond rally reduced borrowing costs. The government picked Citigroup, Rand Merchant Bank and Standard Bank as joint lead managers and Investec as a co-manager for a call with investors yesterday, according to a…
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SA tourists skip Zim due to weak rand – Minister
Zimbabwe’s tourism industry is investigating ways to solve the dollar challenge brought by the depreciation of the rand, according to Walter Mzembi, Zimbabwe’s minister of tourism and hospitality. One of the main challenges for tourism in the Sub-Sahara Africa (SSA) region is currency behaviours, Mzembi told Fin24 at the global summit of the World Travel…
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UK battles Kenyan authorities over use of ‘Chickengate’ funds
The British government has sharply differed with Kenyan authorities over the planned repatriation and use of money recovered from the so-called Chickengate scandal. UK authorities have rejected assertions that they ‘dictated’ how the £349,057.39 (Sh50.05 million at current exchange rates) would be used, putting Kenya’s Ethics and Anti-Corruption Authority (EACC) chief executive Halakhe Waqo ,…
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Angola beefs up currency controls to cope with FX shortage
Angola’s central bank has cut the amount of hard currency travellers can take abroad under new rules to cope with a decline in foreign exchange reserves. Under the rules made public late on Thursday, the bank cut the sum that can be taken abroad to $10,000 from $15,000. Hit by a collapse in the price…
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Uganda: Cocoa Exports Hit Shs244 Billion – Report
There has been a silent but brawling debate over Uganda’s cocoa export volumes, and the value in particular. Now, a report by Swisscontact, a non-governmental organisation, indicates that the country earns more than was expected. The 2015 annual report, Improving Markets for Honey and Cocoa Value Chains in Uganda, reveals: “Since July 2015, cocoa is…
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Algeria: Railway Projects in Djelfa Make Up 10 Percent of National Programme
Minister of Transport Boudjemaà Talai announced Tuesday in Djelfa (275km southwest of Algiers), that the railway projects which are under construction in the province total 320km and make up 10% of the national programme of 2,300 km. Hosting a news conference at the end of his working and inspection visit to Djelfa, the minister said…
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Egypt’s Former Top-Auditor Fined for ‘Defaming’ Ex-Minister
An Egyptian criminal court fined the former head of the Central Auditing Authority Hisham Geneina, who was recently dismissed by the president after making statements on purported government corruption, on a charge of defaming a former justice minister. Geneina was fined EGP 20,000 (around $2,251) Geneina, along with a journalist at Al Wafd newspaper, Tahany…
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Namibia: SME Bank Needs Fixing – Alweendo
ECONOMIC planning minister Tom Alweendo yesterday admitted that the SME Bank is not doing what it is intended to do. He said this during a business breakfast meeting on the Harambee Prosperity Plan (HPP) in Windhoek which was organised by the Namibia Chamber of Commerce and Industry (NCCI). The HPP was launched by President Hage…
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FNB declines to give reasons for closure of Guptas’ accounts
Leading financial services companies in the country have ended their business ties with the controversial Guptas’ Oakbay Investments and its listed entity Oakbay Resources. The controversial family has come under attacks over the last few months for allegations ranging from ‘corruption to state capture’. First National Bank joined ABSA, Sasfin and auditing firm, KPMG, in…