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Fri,17Nov2017

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Kenya plans to privatise sugar companies within 12 months

Sugarcane farm. File Photo©ReutersKenya has approved the sale of the government's stakes in five sugar companies and expects to sell 75 percent stakes in transactions that will be completed in the next nine to 12 months, the Privatization Commission said on Friday.

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Ghana: Soaring interest rates sparks alarm

Photo©ReutersRising interest rates in Ghana has raised worries among economists, bankers and industrialists as they blame each other over the phenomenon, which they say is stoking cost of borrowing and forcing businesses to go bankrupt.

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South Africa: Blackouts and soaring Indian imports lift coal prices as El Nino looms

Power blackouts in South Africa and soaring Indian imports in anticipation of an El Nino climatic event have pushed thermal coal prices in the Indian and Pacific Ocean basin up since the beginning of May, raising their premium over European cargoes.

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Egypt: British supermarket Sainsbury rejects legal case against CEO Coupe

Sainsbury's CEO Mike Coupe. Photo©ReutersBritish supermarket Sainsbury's on Wednesday rejected all allegations against its chief executive after it emerged he was sentenced in absentia last September to two years in an Egyptian jail after being found guilty of embezzlement.

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All systems go at the Zimbabwe International Exhibition

Zimbabwe's annual premier trade exhibition opened in the second city of Bulawayo on Tuesday as the country battles to revive its perennially struggling economy.

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Zimbabwe's trade deficit widens

Zimbabwe's exports declined by 27, 6 percent in March to $188, 7 million as the southern African country's trade deficit continues to widen.

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Tanzania: METL Group eyes Africa expansion as middle class grows

Manufacturing and trading firm Mohammed Enterprises Tanzania Ltd, one of the country's biggest private employers, said on Friday it would invest $250 million to expand its business in Africa to capitalise on a growing middle class demand.

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Ethiopian farmers are getting 60% more of the value

Ermias Eshetu Chief executive, Ethiopia Commodity Exchange. Photo©All Rights ReservedHaving launched operations in 2008, the ethiopia Commodity exchange has moved out of its pilot phase and plans to ramp up technology to improve speed and traceability.

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Illegal fishing costs Ghana millions of dollars annually

File photo©ReutersOveruse of unlawful fishing methods and poaching have caused Ghana's fish stock to decline rapidly resulting in the West African country losing $100 million each year.

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Zimbawe: Central bank struggles with informal sector

Photo©ReutersZimbabwe's central bank says $3 billion is circulating in the informal sector as the country's formal economy continues to shrink.

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Energy: Africa to overtake U.S. in meeting LNG trade growth

File Photo©ReutersAfrican seaborne gas exports will play a bigger role in meeting global LNG trade growth than the United States, whose supply will be capped by mass domestic switching from coal to gas-fired power generation, the West's energy watchdog said on Wednesday.

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Zimbabwe Stock Exchange in headlong plunge

The Zimbabwe Stock Exchange suffered its heaviest plunge since 2009 with traded shares dipping 10% in the first quarter of the year.

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Mauritius: Ponzi scheme sees Bramer Bank licence revoked

A "Ponzi" investment scheme has been found at Mauritian lender Bramer Banking Corp Ltd (BBCL), the Indian Ocean's premier said on Friday, after the country's central bank revoked its banking license and appointed liquidators.

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Guinea-Bissau declares logging moratorium as illegal trade to China rises

Photo©ReutersThe rise of illegal timber trade fuelled largely by Chinese demand and aided by complicit politicians and senior army officials has led to a five-year moratorium on logging by the government of Guinea-Bissau.

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Ethiopia: We want technology transfers - Deputy PM

Photo©AU CommissionDebretsion Gebremichael, Deputy prime minister, Ethiopia, rose to eminence within the liberation struggle at the helm of the rebels' intelligence services.

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Zimbabwe registers low bread consumption amid low wheat production

Zimbabwe's bread consumption has declined to 850 000 loaves a day from 1, 5 million loaves five years ago.

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Free markets, deadly competition and an Ethiopian choice

Developmental states reject the free-market model of development because they do not have the advanced-world assets to compete on a level playing field.

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Does logging help poor and developing countries?

Norway has recently signed a multi-million-dollar deal with Liberia to stop logging in order to protect the environment, but what will be the impact of such deals on the communities who rely on the industry for their livelihood?

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Namibia and Ghana get ready for business

File photo©Vincent Fournier for JANamibia has established an embassy in Ghana as it seeks to grow political and business relations with the West African country.

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Ethiopia moves against illegal poaching and ivory trade

File photo©ReutersEthiopia destroyed 6.1 tonnes of illegal elephant ivory and ivory products on Friday in an effort to conserve the vulnerable species, whose number is dwindling annually.

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