NewsEast & Horn Africa

Sun,21Jan2018

East & Horn Africa

Volkswagen to start Rwanda car assembly in May

April 28, 2017: An e-Golf electric car with the VW logo on a rim is pictured in the German car manufacturer Volkswagen Transparent Factory in Dresden, eastern Germany.Photo: Jens Meyer/AP/SIPAGermany's Volkswagen AG said on Thursday it would start assembling three vehicle models at a new plant in Rwanda in May for local sale and use in its own new ride-sharing service.

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Corporate health check: How will Africa's major companies fare in 2018?

Anglo AmericanHow are Africa’s leading companies handling today’s tough macroeconomic conditions? The Africa Report examines the business prospects of a cross-section of major companies in 2018

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Kenya Airways opens ticketing for inaugural flight to USA

Visitors to Brooklyn's Fulton Landing take in the view of One World Trade Center, the lower Manhattan skyline and the Brooklyn Bridge, Sept. 5, 2017, in NY. Photo: Mark Lennihan/AP/SIPAKenya Airways expects its daily direct flights to the United States that it launches for the first time in October to boost annual revenue by 10 percent from 2019, the chief executive said on Thursday (January 11).

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Tanzania shuts 5 small community banks to protect financial stability

In this photo of July 11, 2015, Tanzania's then public works minister John Pombe Magufuli speaks at an internal party poll in Dodoma, Tanzania.Photo: Khalfan Said/AP/SIPATanzania's central bank on Thursday revoked the licenses of five "critically undercapitalised" community banks to protect financial stability in East Africa's No. 3 economy. 

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Kenya regulator ditches plan to break up Safaricom

A Kenyan man talk on a mobile phone at a shop selling Safaricom products, Friday, June 6, 2008 in the Kibera slum in Nairobi, Kenya.Photo: KHALIL SENOSI/AP/SIPAKenya's telecoms regulator has ditched a proposal to break Safaricom up into separate telecoms and financial services businesses due to its dominant size, Kenya's Business Daily newspaper said on Wednesday.

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Sudan, Saudi Arabia to restore banking ties

 A woman displays Sudan's currency at the central bank in Khartoum, Sudan, Sunday July 24, 2011. Photo: Abd Raouf/AP/SIPASudan and Saudi Arabia have agreed to re-establish banking relations, the official Sudanese news agency SUNA said, a move that may help restore confidence in Sudan's economy after the lifting of U.S. economic sanctions.

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