Category: INTERNATIONAL
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New Zimbabwe government seeks to sell stakes in state-owned companies
Zimbabwe has invited bids to buy stakes in up to eight loss-making state-owned enterprises, including its national airline and power utility, to help plug a ballooning budget deficit, its deputy finance minister said on Wednesday. “We are diluting our shareholding in those entities and our shareholding might go to zero percent in some entities,” Terence…
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Nigerian power grid shut down by gas pipeline fire -ministry
Nigeria’s electricity grid has been shut down by a fire on a gas pipeline, the ministry of power said in a statement on Wednesday. Gas supply to several power stations was cut off because of the fire on the Escravos Lagos Pipeline System near Okada in the southern state of Edo, the ministry said. “The…
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Tanzania increases fuel prices due to rising crude costs
Tanzania’s energy regulator raised the maximum price for petrol, diesel and kerosene on Wednesday, citing rising international crude oil prices. Fuel prices have a big influence on the inflation rate in the East African country. In the 12 months through November inflation eased to 4.4 percent, from 5.1 percent the previous month, but the fuel…
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Kenya: AfDB to raise Sh826bn through capital markets
The African Development Bank (AfDB) plans to raise $8 billion (about Sh826 billion) in the new-year tapping the capital markets with a view to lending to member countries on the continent. The bank expects to access a wide array of capital markets having previously raised cash mostly in the form of US dollars, Euros, Australian…
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East Africa: Morning fire burns part of NCPB depot in Eldoret
A mysterious fire has burnt a section of the National Cereals and Produce Board (NCPB) Eldoret depot. The cause of the Thursday 4am inferno could not be immediately established but a mortar explosion in one of the driers housing three silos is suspended to have ignited it. Uasin Gishu County Secretary Peter Lelei and the…
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Kenya: Food imports overtake fuel, machinery on 2017 drought
Prolonged drought experienced in part of 2017 saw food imports rise to overtake fuel and machinery in the third quarter of the year, highlighting the distorting effect of bad weather. Data released by the national statistics office shows the food import bill grew by 243 per cent from the Sh27.2 billion in the third quarter…
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Egypt’s FX Reserves Expected to Rise to $39.8 Billion in 2018 – EFG Hermes
Egypt’s foreign exchange reserves are expected to jump in the next financial year 2018-2019, as it is expected to rise to a new record at $39.8 billion, according to EFG-Hermes. The figure came in a report filed by the Egypt-based bank on its economic expectations for the country in 2018. A copy of the report…
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Egypt: E-Sico Starts Selling First Egyptian-Made Mobile Phone in Second Half of January
The Egyptian Silicon Industries Co. (E-SICO), which makes the first mobile phone inside Egypt, announced that its customers can start reserving their 4G smartphone’ “Nile X” as of the second half of January 2018. “The locally made “Nile X” phone will hit the markets in the second half of the current month,” according to a…
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Egypt: Dozens of Egyptian Firms to Participate in 2018 Stone Fair in China
About 28Egyptian marble companies will participate in an international stone fair scheduled to open in China in March 2018, official MENA news agency reported Thursday. “The Xiamen International Stone Fair is one of the biggest fairs for stones in the world and it displays the latest techniques in this field,” MENA quoted Walid Gamal al-Din,…
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Liberia: Morocco, Liberia Vow to Strengthen Bilateral Ties
Morocco and Liberia expressed on Monday their strong willingness to strengthen bilateral ties. The willingness was made during a phone call between Morocco’s king Mohammed VI and Liberia’s President-elect George Weah, according a statement from the Moroccan king’s office. On this occasion, the king reiterated his warmest congratulations to Weah following his election as Liberia’s…