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.
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.
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.
Kampala Government is planning to stop importation of used vehicles to support the development of an automobile industry.
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.
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.
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.
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.
East African Tea Trade Association which houses Mombasa Tea Auction along Nyerere Avenue, Mombasa on January 30.
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.
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.
The Congolese government has decided to reinstate the 24-hour operations of the Goma-Rubavu border posts.
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.
The Ugandan government has finalized plans to start vehicle manufacturing in the east African country by 2018.
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.
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
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.
The European Commission is opening three investigations into steel products made in China as cheap imports add to the woes of the UK industry.
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
African countries have been advised to transform their economies through industrialization to avoid shocks created by declines in commodity prices.
Japanese shares have continued their slide, falling almost 7% in two days and entering bear market territory.
Global stocks deepened their declines in choppy trade Tuesday after recent turmoil in financial markets rippled across Asia.
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.
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.
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.
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.
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.
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.
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.
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’
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.
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.
WorldRemit customers can now send money instantly to MTN Mobile Money wallets in Rwanda, Uganda and Zambia.
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.
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).
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.
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.
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.
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.
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.