Business

Tue,23May2017

Business

Somalia says drought kills 110 in the past 48 hours

Somali prime minister's office said in a statement on Saturday (March 4) that 110 people have died in southern parts of the country in two days from famine and diarrhoea resulting from a drought, as the area braces itself for widespread shortages of food.

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Safaricom's CEO: A decade on, M-Pesa has room to grow

Building on the success of Safaricom's lending model and branching into e-commerce, chief executive officer Bob Collymore has a long list of plans for Kenya’s pioneering mobile-money platform. The new social-impact initiative, B Team, of which Collymore is a board member, is at the top of the list.

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Bidco to invest $200 mln, aims to quadruple Kenya revenue

Bidco Africa, a maker of soap and edible oils, is investing $200 million in a new plant and acquisitions over the next five years and it aims to raise its annual revenue in Kenya to $1 billion, its chief executive said.

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MTN keeps dividend flowing after first loss in 20 years

Africa's biggest mobile phone operator MTN Group promised to pay a dividend in 2017 on Thursday, sending its shares surging as investors shrugged off a loss that underscored its risks in investing in frontier markets.

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Somalia's president calls for urgent food aid as six million face hunger.

An estimated five million Somalis are in need of food aid, after sparse rains triggered drought in much of the country, prompting the country's new president, Mohamed Abdullahi Farmaajo to declare the crisis a "national disaster".

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General Motors plans to sell stake in East African unit to Isuzu

General Motors Co on Tuesday said it plans to sell its majority ownership stake in General Motors East Africa to its Japanese partner Isuzu Motors Ltd, as the U.S. carmaker continues to streamline by exiting non-core operations.

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Malawi looks to industrial hemp crop to increase foreign earnings.

Malawi is investing about $10m in the cultivation of industrial hemp, which is considered to have economic, medical and nutritional value.

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