Mozambique’s long-held dreams of natural gas have got a fresh boost following an estimated $1.1 billion contract award by ExxonMobil for the Rovuma LNG Phase 1 project in Mozambique’s Cabo Delgado region. The signing of the contracts represents a big leap towards FID for the project, whose objective is to build onshore LNG facilities with […]
Poultry farmers in Kenya want the Ministry of Trade to intervene on the discriminative tariff by the Uganda on chicken meat. Uganda Revenue Authority has in the past two years charged Kenyan chicken meat exports a cumulative 25 per cent in taxes – 18 per cent VAT, one per cent Railway Development Levy and six […]
Tanzanian President Magufuli’s response to the Covid-19 pandemic bears many of the hallmarks of his leadership to date—but magnified. As has proved true elsewhere, the crisis has cast the status quo in a new—and sharper—light. The Tanzanian government at first seemed poised for concerted and timely action against the virus spread. As the first cases […]
In Kampala, street vendors, erratic drivers and hundreds of commuter taxis contribute to the traffic chaos in the city centre every day. But after road tests around Kampala last week, Kiira Motors newly released 12-metre long Kayoola Electric Buses (EVS) have proven they can reduce the traffic chaos and the huge number of commuter taxis […]
The employees of Oando Plc have contributed over N25million under The Aggregator Platform (TAP) initiative, to feed needier Nigerians as global pandemic continues unabated with millions of Nigerians living without food and basic needs of livelihood. The employees of Oando identified that despite the financial contributions and efforts made by the public and private sector […]
Ride-hailing firm Bolt has raised Sh11 billion worth of investment capital from Naya Capital Management to boost its growth and development strategy. The funds will go into upgrading its mobility services and food delivery services in Europe and Africa. This will include investments into scooters, bikes and delivery services across its markets for its on-demand […]
The World Health Organization says it is temporarily halting its clinical trials that use hydroxychloroquine to treat COVID-19 patients over published concerns that the drug may do more harm than good. The move comes after the medical journal The Lancet reported on Friday May 22 that patients getting hydroxychloroquine were dying at higher rates than […]
The government of Madagascar has announced the deployment of soldiers and doctors to the city of Toamasina (east), after a sharp increase in the number of Covid-19 cases in the country’s second largest city. The government on Sunday in the capital Antananarivo held a special council of ministers meeting devoted to the situation in Toamasina. […]
Increase in jihadist attacks in Burkina Faso since 2017 has led to the closure of more than 2,000 schools, according to a Human Rights Watch report released Tuesday. Citing the Ministry of Education, the report says 2,500 schools have been closed, depriving nearly 350,000 students access to education. At least 222 education workers have been […]
Outgoing Burundian President Pierre Nkurunziza on Tuesday congratulated his protégé, General Évariste Ndayishimiye, who won the 20 May presidential election, seeing in his broad victory the proof of the people’s support “for the projects and values” conveyed by the regime. “I warmly congratulate President-elect (…) Évariste Ndayishimiye for his broad victory which confirms that the […]
COVID-19 pandemic has caused an unprecedented disturbance on social, political and economic structures all over the world. World leading economies have been brought to an almost complete halt. International Monetary Fund (IMF) has warned of a recession that is expected to be as bad or worse as that experienced during the global financial crisis of […]
Zimbabwe President Emmerson Mnangagwa has castigated the West for meddling in the internal affairs of African countries and called on Africans to deepen the culture of democracy and good governance as taught by the continent’s founding fathers. In his address to the nation on the eve of the 57th anniversary of the founding of the […]
President Salva Kiir addressed the nation on Monday calling to observe social distancing rules to contain community transmission of coronavirus and to ignore false rumours about his infection with the respiratory disease. Kiir’s remarks come after the circulation in the social media of forged letter tasking the vice-president Hussein Abdelbagi with the day to day […]
African football fraternities have been thrown into mourning following the shocking death of 21-year-old Cameroonian footballer Joseph Bouasse webp died from heart attack. According to the report on UK Sun, Joseph Bouasse died on Sunday night, May 24. At the age of 16, Joseph Bouasse moved to Italy from Cameroon with the hopes of him […]
President Muhammadu Buhari has urged farmers to return to their farms in order to provide food for Nigerians, as there is no money for importation. Buhari, while speaking with State House reporters after Eid prayers on Sunday, also prayed for a favourable raining season. “I hope the raining season would be bountiful so that we […]
Nigeria’s economy grew 1.87% in the first three months of 2020 from a year earlier, the statistics office said on Monday, shrinking from the previous quarter as oil prices and international trade fell due to the coronavirus pandemic. It is the slowest quarterly growth rate in one-and-a-half years, and comes as Nigeria has still not […]
Burundi’s ruling party candidate won a presidential election held last week, securing 68.72% of the vote, the electoral commission said on Monday. Evariste Ndayishimiye, a retired general, will take over from President Pierre Nkurunziza, after he beat the main opposition candidate Agathon Rwasa, and five others, avoiding a runoff by securing more than 50% of […]
U.S. Treasury Secretary Steven Mnuchin has rejected plans by the African Development Bank’s board to end an investigation into its president, Akinwumi Adesina, and called for an independent probe into allegations against him. In a letter dated May 22 and addressed to Niale Kaba, chairwoman of the bank’s board of governors, Mnuchin said the Treasury […]
High forward-looking loan provision in the wake of Coronavirus dent banks’ profits in the first three months of the year. Kenya adopted the IFRS19 accounting standard that requires financial institutions to provide for unforeseen defaults beforehand. An analysis of Q1 financial statements for three lenders that released their results last week shows KCB Group, Cooperative […]