News

Kenya: U.S. Remains Leading Source of Diaspora Inflows in Kenya

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By Julie OwinoNairobi — United States has been listed as the top source of diaspora inflows in Kenya , a new data shows. This was revealed by Central Bank of Kenya, in its newly introduced detailed breakdown of the remittances by individual countries from which they were sent. According to …

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Zimbabwe: Cheap Medicine Worth U.S.$60 Million Smuggled Into Zimbabwe Yearly

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By Paidashe MandivengereiMEDICAL drugs worth US$60 million are smuggled into Zimbabwe every year as the demand for cheap medical supplies remains high, the Transparency International Zimbabwe (TIZ) has revealed. The smuggling of drugs is perpetuated by the high demand for cheaper medical supplies in the country where the economy is …

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African Trade Finance Sees $5 Bn in Portfolio Outflows in Q1 2020 Due to Covid-19, but Opportunities Exist – Report

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Constrained global financial conditions caused by Covid-19 have led to massive portfolio outflows from Africa, exceeding $5 billion in the first quarter of 2020, a new continent-wide survey on trade finance has shown. About $3.1 billion left the South African market alone, the report found. Launched on 15 April 2021, …

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Kenya, DRC Sign Deals on Security, Trade and Transport

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By Aggrey MutamboKenya has signed crucial agreements on transport, security and trade with the Democratic Republic of Congo, signalling a push to improve low figures of business between them. After a bilateral meeting between Presidents Uhuru Kenyatta and his host Felix Tshisekedi, the two sides on Wednesday signed a new …

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Tanzania: Government to Employ Over 44,000 New Staff

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Tanzania Daily News (Dar es Salaam)By Jeremiah Sisya The Government is expected to employ 44, 096 new staff in the next 2021/2022 financial year. The Minister of State in the President’s Office-Public Service Management and Good Governance, Mohamed Mchengerwa revealed the figure in the Parliament, Dodoma on Thursday while tabling his Office’s …

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South Africa: Crypto Power – Can Solar Panels Boost Cheap, Green Homes in South Africa?

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By Kim HarrisbergThe Watergate complex wants to combat nationwide blackouts using energy from solar cells leased through an online platform Watergate is province’s first privately-funded, low-cost estateSolar panels to be installed through online leasing platformProject could save 3.3 million kg of carbon dioxide When property developer Anver Essop bought land …

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Nigeria: How Inflation, Unemployment, Insecurity Worsen Nigeria’s Out-of-School Children Woes

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By Adesina WahabNigeria has the unenviable record of having the highest number of out-of-school children, OSC, in the world, it is currently put at over 15 million. Also, the country is among the leaders in the Misery Index calculation, no thanks to a number of factors. Misery Index is the …

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Zimbabwe: Listed Companies Defy Biti’s Pessimism Over RBZ Auction

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By Alois Vinga Listed companies reporting their latest financials have effectively defied claims made by former finance minister, Tendai Biti the Reserve Bank of Zimbabwe foreign exchange auction system was a rigged platform. Biti is on record as saying the system which was launched in June 2020 was a charade …

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Zimbabwe: Riozim Seeks Govt Guarantee for Loan

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By Golden SibandaThe Zimbabwe Stock Exchange listed firm wants to build a 2 800 megawatt (MW) power plant in Sengwa, Gokwe North, and has provisionally agreed a construction contract with Power China. But progress on the long-standing project is facing delays due to persistent demands by Chinese funders for a …

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Zimbabwe: Pioneer Transport Sues Unifreight for Breach of U.S.$241,000 Deal

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By Mary TaruvingaPioneer Transport Pvt Ltd has taken Unifreight Africa Limited to court for failure to fulfil a deal worth US$241 000. The deal was entered into back in 2016. The case spilled into the courts after Unifreight failed to deliver as expected despite demand over the past four years. …

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