Date Archives for 2014
Kevin Mwanza, 4:06 am
Turkish Airlines is planning further growth in Africa in 2015 with at least six new destinations. Turkish already has the largest network in Africa among foreign carriers, overtaking Air France and Emirates as it has added a staggering 25 African destinations over the last three years. By the end of 2015 Turkish will have at least 45 destinations in its African network across 30 countries.
Kevin Mwanza, 3:59 am
The Nigerian Electricity Regulatory Commission, NERC, said on Monday that a new tariff regime on gas supply to electricity producers in the country will to come into effect on Tuesday. The Chairman of the Commission, Sam Amadi, said in Abuja that based on the new arrangement, manufacturers and other business owners in the country would henceforth be paying higher electricity prices.
Kevin Mwanza, 3:50 am
The first-ever trial of an Ebola vaccine in Africa shows promising initial results, according to a report in the Lancet medical journal. Scientists say it is a crucial step as other vaccines have shown lower levels of protection in African populations. Tests involving Ugandan and American volunteers reveal the vaccine is so far safe and generates an immune response in both populations.
Keren Mikva, 3:00 am AFKI Original
While Robert Mugabe is abroad for his annual holiday, Emmerson Mnangagwa – “The Crocodile” – is the man in charge of Zimbabwe. This month named Zimbabwe’s first vice president by Mugabe, Mnangagwa is a former justice minister who has long been a prominent leader in the ZANU-PF (Zimbabwe African National Union – Patriotic Front) party.
Karen Elowitt, 2:00 am
As a self-confessed lover of breakfast and brunch, I’ve woken up in the city far too many mornings and wondered where the most serenely beautiful breakfast venues are in Cape Town. Now, I’m by no means an eggs Benedict fundie nor a croissant critic – it’s more about atmosphere and views for me – and I’ve often felt utterly lacking in imagination. Where are those charming venues that offer that Mother City magic? Sure, Cape Town heaves with frenetic espresso kiosks and buzzing coffee shops,
Makula Dunbar, 5:23 pm
Common Cause Democracy President Abel Mtonga and National Party President Reverend Richard Kambulu have withdrawn from the January 20th Presidential election race. Addressing journalists at the Supreme Court this morning, Common Cause Democracy President Abel Mtonga says he is not ready to stand in January 20th polls but will attempt to do soAkafuna-ECZ in 2016.
Makula Dunbar, 4:43 pm
Kenya’s opposition coalition filed a court challenge on Tuesday to overturn new anti-terrorism laws it says are hasty and undermine basic freedoms. The measures will allow suspects to be held without charge for 360 days, four times longer than before, compel landlords to provide information about their tenants, and punish media that print material “likely to cause fear or alarm.”
Makula Dunbar, 4:22 pm
A few weeks ago, the Governor of the Central Bank of Nigeria, Godwin Emefiele, announced a nearly 10% devaluation of the Naira, Nigeria’s currency, after admitting that a plunge in world oil prices and dwindling dollar reserves were making it difficult to defend the value of the currency.
Dana Sanchez, 2:38 pm
Atlas Mara — the African investment vehicle of Ugandan entrepreneur, Ashish Thakkar, and former Barclays CEO, Bob Diamond — paid $250 million to increase its stake in Union Bank of Nigeria, VenturesAfrica reports. Union Bank has 340 branches in Nigeria and is being rebranded to make itself more competitive. “This is a very significant acquisition,” Atlas Mara said in a statement. “We will have a significant stake in a key Nigerian bank and we will also have established strategic market positions in three of Africa’s leading economic communities (SADC, ECA and ECOWAS).”
Dana Sanchez, 2:04 pm
Zimbabwe’s government said it will relax laws guiding foreign investments into the country. Under the Zimbabwe Indigenization and Economic Empowerment Act, foreign-owned firms must put 51 percent of their shares in the hands of black Zimbabwean investors, VenturesAfrica reports. Analysts say it’s driving away investors and weighing on the economy. Some foreign companies set up community share trusts and workers’ ownership schemes as a form of empowerment credit rather than parting with shares.
- Real Estate