Category: INTERNATIONAL
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Kenya:Milk firms hunt for new energy sources as power cuts persist
The escalating cost of electricity is one of the major challenges that investors in the dairy industry are grappling with. Aside from being expensive, the power supply has been unreliable with increased interruptions due to huge demand. Over the recent past, the country has been faced with rescheduled power supply forcing processors to look for…
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Nigeria: Dollar to Crash Further As CBN Pumps Additional $180 Million to Banks
It became clearer in the forex market yesterday that Nigeria’s local currency, the naira, may be on a permanent journey back to its former value, put at less than N300 to the dollar. This is coming just as the Central Bank of Nigeria (CBN) has released fresh $180 million into the foreign exchange market, as…
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Nigeria: Oil Prices – OPEC Members Lose $2 Trillion in 2 Years
Nigeria and other member nations of the Organisation of Petroleum Exporting Countries (OPEC) have lost a cumulative sum of $2 trillion capital investment in the oil and gas industry as well as revenue generation since crude oil price in the international market tumbled in June 2014. According to Secretary General of OPEC, Dr Mohammed Sanusi…
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Egypt: Triangular Agreement Allows for Vehicles to Be Shipped From Libya to Sudan Via Egypt
The Libyan News Agency El Tadamon reports that the authorities allowed the shipment of vehicles from Libya to Sudan through Egypt after the approval of the governments of the three countries. The agency reports that the first shipment carrying nearly 250 vehicles was launched on Wednesday. There is a backlog of 11,000 vehicles that security…
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Libya: What Libya’s New Travel Ban Really Means
Authorities in control of eastern Libya have banned residents aged between 18 and 45 from travelling abroad without permission. The military government says the aim is to stop people from joining terrorists groups. RFI takes a look at the reasons behind the ban. The authorities say Libyan men and women between 18 and 45 must…
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S.A:This would be the cost of replacing S.A’s finance minister, or his deputy
The decision to give Brian Molefe a seat in the country’s parliament has led to widespread speculation that he is being positioned for a cabinet post – either as finance minister or as deputy finance minister. While some commentators believe that President Jacob Zuma has his sights set on appointing Molefe as finance minister, others…
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S.A:Bidvest can tap $1 billion for acquisitions says CEO
South African trading, services and distribution firm Bidvest has access to $1 billion for acquisitions, its chief executive said on Monday. “We’d be able to raise $1 billion should we need it, or about 14 billion rand ($1 billion) to 15 billion rand and that has been confirmed by a lot of the bankers,” said…
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Kenya:Explorer strikes Sh165bn worth of gold ore in Kakamega
British exploration firm Acacia Mining has discovered gold deposits worth an estimated Sh165 billion in Kakamega County, boosting Kenya’s rising profile as a mineral-rich economy. The estimated deposits of about 1.31 million ounces of gold, at 12.1 grammes per tonne, could be one of the exploration firm’s highest grade projects in Africa if proved to…
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Kenya in the dark over perfect power mix
Government officials have recently been groping in the dark in their search for the right electricity supply mix to meet demand and trigger growth while avoiding excess power that could result in higher consumer bills. Several mega power projects have been cancelled or shelved amid fears they would leave Kenya with excess power, a situation…
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Kenya:Housing Finance ordered to pay borrower Sh45 million
Mortgage lender Housing Finance Group (HF) has been ordered to pay a borrower Sh45 million as compensation for selling her home after levying irregular charges and penalties on a loan she took in 1998. Justice Eric Ogola has ruled that HF was wrong to sell Scholastica Nyaguthii Muturi’s two parcels of land after the stockbroker…