NewsEast & Horn Africa

Sun,20Jan2019

East & Horn Africa

Kenya's Safaricom's overdraft service exceeds expectations

20190117 Reuters BobCollymore AP-Sipa

NAIROBI - Kenya's biggest telecoms operator, Safaricom, notched up one million users for its new overdraft feature on the M-Pesa platform in just eight days, surpassing its CEO's expectations, he said on Thursday.

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Tullow Oil hit by payment delay, but sees higher output

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A delay in receiving payment from the sale of a stake in Ugandan oilfields caused Tullow Oil to miss cash flow and debt forecasts on Wednesday, although the firm said it expected to receive the money soon and also forecast higher production.

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Nearly half of Tanzania's banks vulnerable to financial shocks - IMF

A woman sits in front of an International Monetary Fund logo at the venue of the IMF and World Bank meeting, Wednesday, Oct. 10, 2012. The annual meetings of the International Monetary Fund and World Bank are being held in Tokyo this week. (AP Photo/Itsuo Inouye)/XITS104/334174109717/1210101012 Authors: Itsuo Inouye/AP/SIPANearly half of Tanzania's 45 banks are vulnerable to adverse shocks and risk insolvency in the event of a global financial crisis, the International Monetary Fund (IMF) said on Friday.

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Sudan allows local private sector firms to export gold

This handout photo taken on Aug. 31, 2018 in Sudan and provided by Interpol on Sept, 10, 2018, shows a gold mine where children use chemical products like mercury and cyanide, near Khartoum and the city's international airport.  photo: APSudan will allow local private sector firms to export gold, Prime Minister Moataz Moussa said on Monday, relaxing the central bank's grip over exports of the metal as the government tries to shore up the country's struggling economy.

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Ethiopia overtakes Dubai as top feeder of air traffic to Africa

In this Saturday, April 27, 2013 file photo, an Ethiopian Airlines' Boeing 787 Dreamliner prepares to take off from the airport in Addis Ababa, Ethiopia. Photo: Elias Asmare/AP/SIPAEthiopia has overtaken Dubai as a conduit for long-haul passengers to Africa, highlighting the success of the state airline's expansion drive and the reforms of its new prime minister.

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New Barrick CEO eyes miners' alliance to fix Tanzania tax row

Tanzanian miner Bakari Ngalenya climbs out of a tanzanite mining pit in Mererani in northern Tanzania on Saturday, Dec. 15, 2001. Photo: GEORGE MWANGI/AP/SIPABarrick Gold's incoming chief executive said he wants to pull together Tanzania's mining industry to tackle a "desperate" tax dispute that has snared several companies, including the firm's Acacia Mining unit.

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