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KCB Full Year Net Profit Jumps 16% to Sh19.6bn

KCB Full Year Net Profit Jumps 16% to Sh19.6bn

KCB Group Wednesday reported a 16 per cent increase in profit after tax for the year ending December 2015 on higher net interest income, non-funded income and operational efficiency.

2/03/2016 Saa 14:27:19
Shell being sued in two claims over oil spills in Nigeria

Shell being sued in two claims over oil spills in Nigeria

Oil giant Shell is being sued in London for the second time in five years over spills in the Niger Delta.Two communities are claiming compensation and want Shell to clean up their land.

2/03/2016 Saa 08:50:45
After 100 Years, Barclays Ends its Century-long Relationship with Africa

After 100 Years, Barclays Ends its Century-long Relationship with Africa

After months of speculation Barclays has confirmed that it is looking to sell its 62% stake in Barclays Africa Group Limited as part of a company-wide restructuring that will refocus the British bank’s business on its UK and other global operations.

1/03/2016 Saa 15:03:29
Uganda to Stop Importation of Second-Hand Vehicles, Govt

Uganda to Stop Importation of Second-Hand Vehicles, Govt

Kampala Government is planning to stop importation of used vehicles to support the development of an automobile industry.

29/02/2016 Saa 13:31:37
Barclays Banks Plan to Exit Africa

Barclays Banks Plan to Exit Africa

Barclays Bank Plc is Tuesday expected to announce its plan to partially or wholly exit Africa, according the Financial Times, quoting sources close to the matter.

28/02/2016 Saa 16:36:54
Rwandan Economic Growth to Slow to 6.8 Percent this Year - World Bank

Rwandan Economic Growth to Slow to 6.8 Percent this Year - World Bank

Rwanda’s economic growth rate will ease to 6.8 percent in 2016 from 7.1 percent in 2015, the World Bank said on Friday, noting the slow implementation of the country’s budget.

27/02/2016 Saa 12:18:08
Bank of Kigali-BK, 2015’s Profits Flood to Rwf20.5 Billion

Bank of Kigali-BK, 2015’s Profits Flood to Rwf20.5 Billion

Bank of Kigali (BK) has confirmed to bring to the market more innovative technologies and products to boost efficiency and increase its presence in the region.

23/02/2016 Saa 11:12:11
Tanzania Shilling Expected to Remain Stable

Tanzania Shilling Expected to Remain Stable

The Tanzanian shilling is seen trading around the same level this week or could appreciate slightly, buoyed by a slowdown in demand for dollars from importers. Commercial banks quoted the shilling at 2,183/2,193 to the dollar on Thursday, weaker than 2,180/2,190 a week ago.

23/02/2016 Saa 10:47:12
Kenya Trails Rwanda at Local Tea Auction

Kenya Trails Rwanda at Local Tea Auction

East African Tea Trade Association which houses Mombasa Tea Auction along Nyerere Avenue, Mombasa on January 30.

20/02/2016 Saa 12:35:34
French Bakers Rush to Africa as the Wealthy Seek Fresh Goods

French Bakers Rush to Africa as the Wealthy Seek Fresh Goods

Several times a week Ivorian computer engineer Paul Tahi stops by Le Roi du Pain bakery in northern Abidjan to buy six freshly-baked baguettes for his three children.

19/02/2016 Saa 19:20:08
Rwanda’s Central Bank Says Economic Growth to Reduce to 6.3% This Year

Rwanda’s Central Bank Says Economic Growth to Reduce to 6.3% This Year

Rwanda’s central bank expects the economy to slow to 6.3 percent this year from an estimated 7 percent in 2015 due to the effects of El Nino rains on its important agricultural sector.

19/02/2016 Saa 13:47:54
Rwanda: Removal of Informal Taxation at Rwanda-DRC Border Will Boost Trade

Rwanda: Removal of Informal Taxation at Rwanda-DRC Border Will Boost Trade

The Congolese government has decided to reinstate the 24-hour operations of the Goma-Rubavu border posts.

18/02/2016 Saa 11:13:12
Africa’s Energy Revolution Is Almost Here

Africa’s Energy Revolution Is Almost Here

You can’t create a modern economy without access to energy, and lots of it. Energy to run mills and mines, to grow and process food, to light up markets, to build roads and factories, or to build machines that can build more machines.

17/02/2016 Saa 12:13:25
Uganda to start motor vehicle manufacturing in 2018

Uganda to start motor vehicle manufacturing in 2018

The Ugandan government has finalized plans to start vehicle manufacturing in the east African country by 2018.

17/02/2016 Saa 11:26:24
Commodities Rout Fails to Slow Urban Explosion in Africa

Commodities Rout Fails to Slow Urban Explosion in Africa

Africa’s biggest economies have been hammered by the collapse in commodity prices over the past 18 months but there are still investment bright spots to be found.

16/02/2016 Saa 14:00:51
Ivory Trafficking in Africa is Controlled by a Powerful Few, Scientists

Ivory Trafficking in Africa is Controlled by a Powerful Few, Scientists

The most recent analysis on some 200 samples of ivory seized since 2006 shows that traffickers quickly move their take out of the country where the elephants were slaughtered

15/02/2016 Saa 12:57:53
Oil Surges on Report OPEC Will Cooperate to Cut Output

Oil Surges on Report OPEC Will Cooperate to Cut Output

Oil surged by more than 5 percent in Asia on Friday - a day after tanking towards 13-year lows - following a report suggesting the Organization of the Petroleum Exporting Countries cartel was open to working towards cutting output to stabilize volatile crude markets.

13/02/2016 Saa 10:08:50
Steel Imports from China Investigated By European Commission.

Steel Imports from China Investigated By European Commission.

The European Commission is opening three investigations into steel products made in China as cheap imports add to the woes of the UK industry.

12/02/2016 Saa 15:43:16
FlyDubai suspends Kigali and Kilimanjaro flights following withdrawal from Bujumbura

FlyDubai suspends Kigali and Kilimanjaro flights following withdrawal from Bujumbura

The latest search on the FlyDubai website for flights to Kigali, but also to Kilimanjaro, a few minutes ago yielded nothing else but a pop up window which read:
Please enter a valid destination

11/02/2016 Saa 16:39:29
Africa Should Focus on Industrialization, UNECA.

Africa Should Focus on Industrialization, UNECA.

African countries have been advised to transform their economies through industrialization to avoid shocks created by declines in commodity prices.

10/02/2016 Saa 12:53:21
Japan Stocks Drop into Bear Market Territory.

Japan Stocks Drop into Bear Market Territory.

Japanese shares have continued their slide, falling almost 7% in two days and entering bear market territory.

10/02/2016 Saa 11:11:51
Global Markets Fall As Investors Remain Cautious.

Global Markets Fall As Investors Remain Cautious.

Global stocks deepened their declines in choppy trade Tuesday after recent turmoil in financial markets rippled across Asia.

9/02/2016 Saa 17:50:13
Rwanda aims to raise standard of living

Rwanda aims to raise standard of living

Rwanda will continue to sustain economic growth and aims to raise per capita gross domestic product (GDP) to $1240 by 2020, said Paul Kagame, President of Rwanda, at the Fourth World Government Summit.

9/02/2016 Saa 16:42:40
President Barack Obama signs Africa electricity initiative into law Read

President Barack Obama signs Africa electricity initiative into law Read

President Barack Obama signed into law Monday a measure aimed at expanding electricity to millions of households in sub-Saharan Africa, a measure supporters say will save lives and accelerate growth on the continent.

9/02/2016 Saa 11:17:51
A Hard Time for E. Africa's Fishing Industry.

A Hard Time for E. Africa’s Fishing Industry.

Frank Makarani has been fishing in Lake Victoria for the past 40 years. The 66-year-old recounted that in those good days fishing was a paying job.

9/02/2016 Saa 10:56:24
Chinese Economy Remains Major Powerhouse for Africa's Growth.

Chinese Economy Remains Major Powerhouse for Africa’s Growth.

The Chinese economy may be slowing down in its industrial and manufacturing sectors, but the growth in its consumption and services sector is still adequate to push growth in African countries which depend on trade with China, analysts said Wednesday.

4/02/2016 Saa 16:33:21
 Shell to Cut 10,000 Jobs in Nigeria and Other Countries Due To Oil Crisis.

Shell to Cut 10,000 Jobs in Nigeria and Other Countries Due To Oil Crisis.

Royal Dutch Shell, the parent company of Shell Petroleum Development Company of Nigeria, has unfolded plans to cut its global workforce, including Nigeria’s, by about 10,000 in 2016, as it battles increasing pressures from declining global oil prices on its operations.

4/02/2016 Saa 16:14:34
Rwanda Allocates $94 Million On Burundian Refugees, Minister Reveals.

Rwanda Allocates $94 Million On Burundian Refugees, Minister Reveals.

It’s said that Burundian refugees have become a menace to Rwandan government whereby huge sums of money have been hugely spent on them, something that has put the country on pressure of spending highly on both its citizens and refugees.

3/02/2016 Saa 10:54:40
Sierra Leone Loses Billions Revenue To Petroleum Pricing.

Sierra Leone Loses Billions Revenue To Petroleum Pricing.

Assistant Commissioner of Operation, Customs Department at the National Revenue Authority (NRA) yesterday lamented that government was losing significant revenue in the current petroleum pricing mechanism, thus undermining domestic revenue mobilization in the face of increased demand on public expenditure to support many programmes.

2/02/2016 Saa 13:49:03
The World Celebrates The 'World Wetlands Day' 2016.

The World Celebrates The ’World Wetlands Day’ 2016.

Not forgetting the good things wet lands have contributed to the world’s economy, we also get time to celebrate it worldwide in what we have called ‘World Wetland day’

2/02/2016 Saa 12:52:26
Congress Passes 'Electrify Africa Act' To Help Millions Get Access To Power.

Congress Passes ’Electrify Africa Act’ To Help Millions Get Access To Power.

The U.S. House of Representatives on Monday passed the Electrify Africa Act, after nearly two years of trying to get the measure through both chambers of Congress. It now goes to President Barack Obama for his signature.

2/02/2016 Saa 12:14:37
Tanzania's Govt Loses Millions of Shillings Through Fish Smuggling, Report.

Tanzania’s Govt Loses Millions of Shillings Through Fish Smuggling, Report.

Government coffers lose millions of rightful revenue as fishermen in Kagera region smuggle mercilessly its fish consignments from Lake Victoria to neighboring countries of Democratic Republic of Congo (DRC), Rwanda and Burundi without paying taxes.

30/01/2016 Saa 16:11:50
WorldRemit & MTN partner on mobile money

WorldRemit & MTN partner on mobile money

WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.

29/01/2016 Saa 17:23:00
AU Prioritizes Mining, Intra-Africa Trade In Africa's Transformation Agenda.

AU Prioritizes Mining, Intra-Africa Trade In Africa’s Transformation Agenda.

The African Union (AU) says the mining sector and intra-Africa trade are critical to ensure that trade and industry play a catalytic role in Africa’s transformation agenda.

29/01/2016 Saa 16:15:10
Africa's Positive Economic Performances Being Put To Test Due To Various Challenges, AU Official.

Africa’s Positive Economic Performances Being Put To Test Due To Various Challenges, AU Official.

Africa’s positive economic performance is now being put to the test in the face of the challenges posed by current circumstances, noted a senior official of the African Union (AU).

29/01/2016 Saa 13:21:55
Dahabshiil Invests in Agri and Emergency Power Projects for Youth Entrepreneurship Programme

Dahabshiil Invests in Agri and Emergency Power Projects for Youth Entrepreneurship Programme

Dahabshiil has provided seed capital to two innovative start-ups founded by young entrepreneurs in Uganda as part of a programme co-sponsored by the US Embassy in Kampala.

29/01/2016 Saa 09:46:24
Rwanda set to increase budget after higher revenue collection - minister

Rwanda set to increase budget after higher revenue collection - minister

Rwanda’s government on Thursday asked parliament to increase the budget due to higher than expected revenue collection, which it will spend on raising salaries for army and police officers and for election-related expenses.

29/01/2016 Saa 09:03:46
Africa's Economy Expected To Grow 4.4 Percent In 2016: UN Reports

Africa’s Economy Expected To Grow 4.4 Percent In 2016: UN Reports

Africa’s economic growth has been forecast to grow 4.4 percent in 2016, up from 3.7 percent in 2015, said a UN report released on Tuesday in Ethiopia’s capital Addis Ababa.

28/01/2016 Saa 20:14:20
Rwanda Is Our Major Partner In Africa, U.S Announces.

Rwanda Is Our Major Partner In Africa, U.S Announces.

The USA has made a special report that will make an arrangement through which Rwanda will be its strategic partner in the mission of reinforcing trade partnership on African continent.

28/01/2016 Saa 11:02:00
How Africa offers opportunities beyond land, labour and commodities

How Africa offers opportunities beyond land, labour and commodities

If the mass media is to be believed, Africa is hardly a continent brimming with opportunities for business. But for some time international business commentators have been positioning the continent as the next market with significant potential.

27/01/2016 Saa 15:08:26

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