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Monday, July 6, 2020

Business & Finance

New head of Angola state owned oil firm, daughter of president promise to overhaul firm

Isabel dos Santos, the billionaire daughter of Angolan President Jose Eduardo dos Santos, pledged a root and branch overhaul of state oil firm Sonangol on Monday to improve its efficiency and margins to offset the "huge" impact of depressed...

USA, China in race for South Africa nuclear plants, bid opens in a few months

Bidding for power plants in South Africa is expected to start in coming months, France's special envoy for nuclear matters said Wednesday in Johannesburg. Pascal Colombani said the process which was expected at the end of March or early...

Africa in the hands IMF and World Bank; the bleeding of a continent – Field Ruwe

They call the Third World the lazy man’s purview; the sluggishly slothful and languorous prefecture. In this realm people are sleepy, dreamy, torpid, lethargic, and therefore indigent—totally penniless, needy, destitute, poverty-stricken, disfavored, and impoverished. In this demesne, as they...

Are African banks ‘too big to fail’?

The "too big to fail" maxim asserts that certain corporations, and particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and that they therefore must be supported by...

Huawei launches Africa’s first 4.5 G demo in Namibia

The Chinese company Huawei Technologies in conjunction with Namibia's MTC launched Thursday the 4.5 G demo for the first time ever in Africa. The launch of 4G advanced and 4.5G live demo, attended by President Hage...

MTN Nigeria offers $1.5 billion to settle fine for unregistered lines

MTN Nigeria has offered to pay 300 billion naira ($1.5 billion) to settle a record fine levelled by Nigeria for failing to disconnect unregistered subscribers, according to a letter from the company's lawyer released on Thursday. Africa's biggest wireless...

Old colonial laws hindering coffee growth in Kenya

Coffee production in Kenya has drastically dropped by above 60 percent in the last fifty years. The drop is blamed on archaic laws introduced at the colonial time and currently still in operation. Kenya planters Cooperative Union (KPCU), the...

Nigeria’s Buhari to discuss global oil price with Saudi, Qatari counterparts

Nigerian leader Muhammadu Buhari will this week hold discussion on means of stabilizing the global crude oil prices with leaders of Saudi Arabia and Qatar during his official visits to the two countries, a presidency statement said. Buhari, who...

African economic summit ends with calls for investment

A two-day African economic summit in Egypt ended Sunday amid calls for investment as organisers said several business proposals were negotiated to help boost growth. More than 1,200 delegates including some heads of states attended the conference at the...

Uber to expand online taxi services in EA region amid opposition

Uber Technologies Inc plans to roll out its operations in the whole of East Africa region by the end of 2016. The company says it has recorded significant business profit in Nairobi and now targets other cities in Kenya...
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WHO now says it first heard of Covid-19 on the internet, not from China

The World Health Organisation (WHO) changed its coronavirus timeline to say it first heard about the coronavirus from a...
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Nigeria’s Hushpuppi faces decades in US jail – Prosecutors

American federal prosecutors has charged a man they say went by the name "Ray Hushpuppi" and flaunted his extravagant wealth online after conspiring to...

Ethiopia picks the pieces after nearly 200 died in protest over killing of Haacaaluu

More than 166 people were killed during anti-government protests in Ethiopia last week, the government said on Sunday, as the capital and other hot...

Ghana president in isolation after Covid-19 positive test in close circle

Ghana’s President Nana Akufo-Addo will self-isolate for 14 days on the advice of doctors after a person in his close circle tested positive for...

Cameroon government official in talks with the Ambazonia leaders

A representative of Cameroonian government had talks with several anglophone separatist leaders to try to find a peaceful resolution to the lingering conflict that...