Poor decisions to blame for record loss making Kenya airways

Poor decisions to blame for record loss making Kenya airways

The $285 million loss registered by troubled Kenya's national flag career, Kenya Airways has been blamed on poor investment decisions compounded by lack of expansion of flights in ...

Sierra Leone anti-graft agency defends record amid public criticism

Sierra Leone anti-graft agency defends record amid public criticism

Sierra Leone`s Anti-Corruption Commission (ACC) has defended its record after public criticism greeted the re-appointment of its head. Joseph F. Kamara, head of ACC, was reappointed ...

Cameroon’s energy firm redistributes shares among shareholders

Cameroon’s energy firm redistributes shares among shareholders

The shares of Energy of Cameroon (ENEO), a subsidiary of the British Investment Group Actis, have been redistributed among its shareholders following a board meeting, reports said ...

Gambia gov’t boosts fishery sector with six commercial boats

Gambia gov’t boosts fishery sector with six commercial boats

The Gambia government in its drive to engage citizens in the exploitation of the country's marine resources, has commissioned six fishing boats for the sector.The boats were ...

Ethiopian airlines to increase flights to Seychelles

Ethiopian airlines to increase flights to Seychelles

The Ethiopian Airlines has announced that it will increase its services to Seychelles to four flights per week effective September 16, 2015.The airlines, in a statement issued on ...

Rwanda’s Central bank blames weakening franc on “speculators”

Rwanda’s Central bank blames weakening franc on “speculators”

The Rwandan franc (Rwf) has reached its lowest of 735 against the US Dollar, with the central bank warning that is likely to continue depreciating as it succumbs to pressure from ...

Sudanese opposition mobilizes for protests against planned price hike

Sudanese opposition mobilizes for protests against planned price hike

The Sudanese opposition has called for general mobilization to protest the anticipated increase in the price of water, electricity and bread, after the government announced an ...

Poor decisions to blame for record loss making Kenya airways

The $285 million loss registered by troubled Kenya's national flag career, Kenya Airways has been blamed on poor investment decisions compounded by lack of expansion of flights in the African routes, a select senate committee disclosed on Monday.The airline registered the worst financial loss made by a Kenyan company, sparking furious calls by political leaders and stakeholders who demanded a probe into the ...

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Sierra Leone anti-graft agency defends record amid public criticism

Sierra Leone`s Anti-Corruption Commission (ACC) has defended its record after public criticism greeted the re-appointment of its head. Joseph F. Kamara, head of ACC, was reappointed by President Ernest Bai Koroma this week, according to a statement by the Commission published on Monday. But while reporting the story, a leading broadcaster, Radio Democracy aired views of some members of the public which ...

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European bank injects over $100mn towards expansion of Egypt’s trade finance

The European Bank for Reconstruction and Development (EBRD) has pumped over $100 million credit and additional $40 million ‘trade finance' line towards expansion of small businesses in Egypt under the EBRD's new partnership with Egypt's fourth largest commercial bank QNB AlAhli. An official statement from the EBRD's headquarters in London announcing the initiative, on Monday states that: “Access to finance ...

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Nigeria’s foreign reserves rise to over $31bn

Nigeria's foreign reserves pool improved by $2,270.437 million or 7.82 percent, to $31.270 billion on July 29, 2015 from $29.00 billion the end of June, 2015. According to a report by Nigeria's Daily Independent newspaper on Monday, the latest data by the Central Bank of Nigeria (CBN) at the weekend showed that on a month-on-month basis, the rise was $2.262 billion or 7.80 percent, while on year-to-date ...

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Nigeria sanctions 23 private petroleum depots

Nigeria's Department of Petroleum Resources (DPR) has shut 23 private petroleum products depots across the country for selling petrol to marketers above ex-depot price of N77.66 (about 44cents) per litre.A statement issued by the DPR Director, Mr. Mordecai Ladan, in Abuja on Monday, said that the shutting of the facilities took effect from Friday. It added that the depots were mainly in Lagos except for two ...

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S/Leone tourism authority defends demolition of makeshifts structures

Ongoing demolition at a popular beach in Freetown is part of a master plan by the National Tourist Board of Sierra Leone to revamp the sector, the General Manage said Monday. Mr Yasim Kargbo said the master plan for the Lumley Beach is geared towards making it not just safe but also accommodating to tourists and locals alike. The beach concerned is situated in the west of the capital, Freetown, the base of ...

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Sierra Leone port workers threaten strike action

A representative for aggrieved workers at the Sierra Leone Ports Authority has confirmed reports of threats to embark on a strike action over ongoing privatisation of the ports. Mohamed Solomon Kamara, Chief Supervisor at the Sierra Leone Port, said Monday that the 21-day notice issued to management of the Ports Authority was not a threat but a call for dialogue. He added however that if the management ...

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China is Mozambique’s top creditor – report

The Mozambican government has said China is its largest creditor, after increasing its funding to the African country by 160 percent since 2012 as significant Chinese investments are being prepared, APA learnt on Sunday.According to a media statement from the Prime Minister's Office, the weight of financing from China to Mozambique will grow to nearly 50 percent, compared with current loan values, with a new ...

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Cameroon’s energy firm redistributes shares among shareholders

The shares of Energy of Cameroon (ENEO), a subsidiary of the British Investment Group Actis, have been redistributed among its shareholders following a board meeting, reports said on Saturday.ENEO is in charge of production, transportation, distribution, and marketing of electricity in Cameroon. According to a new distribution to be in effect before the end of 2015, Actis should hold 51 percent of the ...

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Gambia gov’t boosts fishery sector with six commercial boats

The Gambia government in its drive to engage citizens in the exploitation of the country's marine resources, has commissioned six fishing boats for the sector.The boats were delivered to the Gambia Armed Forces (GAF) and youth groups who are engaged in fishing in Gambia's territorial waters, at a ceremony held in Banjul on Friday evening. Speaking at the ceremony, the Vice President Isatou Njie-Saidy, ...

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