Category: INTERNATIONAL
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Planned chartered flights to boost Kenya’s tourism
President Uhuru Kenyatta’s waiver of landing fees for chartered tourist planes received a major boost yesterday when a European charter company promised to ferry tourists into the country starting July. TUI Poland Charter, whose aircrafts have a 180 passenger capacity, said that it will begin flying directly to Mombasa’s Moi International Airport in July this…
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Kenya’s Equity raises mobile loan limit amid growing transactions
Equity Bank spiced up its mobile phone microloans product Friday as it said its customers will now access higher credit amounts that are payable over a longer period through the Equitel platform. The tier I lender said its new “Eazzy Plus Loan” product will enable customers to borrow up to Sh3 million payable within 12…
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Tough times to bite in April in South Africa as price increases loom
April is going to be a difficult month for consumers who can expect a raft of increases in their monthly expenses. Interest rates, electricity tariffs, and petrol are among the bills that will go up from Friday onwards. The Automobile Association of South Africa said on Wednesday that, including the 30c fuel levy announced in…
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World Bank optimistic about Kenya
Kenya’s economy is expected to expand this year and next, helped by low oil prices, improved agricultural output, supportive monetary policy and ongoing infrastructure investments, the World Bank said on Thursday. However, the bank said growth could be held back by domestic factors related to the country’s next presidential election, scheduled for August 2017. “These…
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Egyptian president fires top auditor after alleging government corruption
President Abdel Fattah al-Sisi on Monday sacked Egypt’s top auditor, who had stirred controversy by publicly concluding that government corruption had cost the country billions of dollars. Hesham Geneina came under heavy fire from senior officials and pro-government media after he alleged widespread graft in newspaper interviews at the end of last year. Mr Sisi…
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Guinea and Burkina Faso to auction unused mining permits
Guinea and Burkina Faso are taking back hundreds of unused mining permits for re-auction, ministers said this week, as governments try to reignite interest in the sector amid a downturn. Permits awarded in recent years that are not being used for exploration or production should be made available to other companies, the two West African…
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KPMG cuts ties with Gupta business empire
KPMG has terminated its business relationship with the Gupta business empire due to the political storm surrounding the family’s friendship with President Jacob Zuma. KPMG was the auditor for all Gupta-owned and -controlled businesses and performed a variety of other services for the Guptas, who are allegedly at the heart of what is termed “state…
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Algeria: Cereal Import Bill Down 25.28 Percent in January – February
The cereal import bill (wheat, maize, barley) decreased to $416.43 million in January and February 2016 against $557.36 m during the first two months of 2015, down 25.28%, Algerian Customs told APS. The decline also concerned the total imported volume, which hit nearly 1.97 million tons against 2.05 m t, (-3.94%), said that the Customs’…
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Tanzania: TFF in Trouble As Tra Seizes Its Five Vehicles Over Tax Debt
THE Tanzania Revenue Authority (TRA) has once again hit the Tanzania Football Federation (TFF) after it seized the federation’s five vehicles in connection to large outstanding tax arrears worth over 1.1 billion/- that TFF owes the authority. The TRA Director for Tax Payer Services and Education, Richard Kayombo confirmed yesterday in Dar es Salaam that…
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Sudan Government Launches Online Stock Market With Support From the AfDB
The Government of Sudan inaugurated an online trading system of its stock market on March 24, 2016 in the country’s capital, Khartoum – a landmark development in the Sudan’s financial history. Financed by the African Development Bank as part of its Public Financial and Macroeconomic Management (PFM) project, the e-trading system will be instrumental in…