ccording to mining weekly, the transaction includes Kibo Nickel’s subsidiary Eagle Exploration and the Haneti nickel project, in Tanzania. The sale is in line with Kibo’s strategy of becoming a major regional power player in Africa, as the sale allows for the company to focus on its three energy projects that are under development. Dar […]
Speaking during the launching ceremony of the new service held in Tanga at the weekend, MCB Plc Chief Executive Officer, Mr Ronald Manongi, said his bank has entered into a strategic agreement with Maxcom Africa Plc through its MaxiMalipo payment system to allow the bank’s customers get services at their convenience. Tanga. In a bid […]
Industry captains cautiously favour the interest rate control even as they push for review of the Banking Act to improve access to finance, a new survey indicates. Oxford Business Group (OBG), which surveyed 136 chief executives said 89 per cent of the interviewees expressed covert support for the interest capping law saying it had improved […]
Capping of interest rates has made credit more affordable, say chief executives in the private sector, even as their confidence on business prospects soars, indicates a recent survey. This is despite the rate cap making loans harder to get from banks. A survey of over 100 top executives by global publishing, research and consultancy firm […]
The competition watchdog last year investigated more than 20 companies suspected of price-fixing. Most of the companies, including cab hailing mobile application Uber and telecommunications giant Safaricom, were cleared. The Competition Authority of Kenya (CAK) initiated an investigation into Uber Kenya – the firm that owns the app – after other players in the taxi […]
The Bank of Tanzania (BoT) is set to introduce the central bank rate (CBR) under the interest rate-based monetary policy framework in the coming financial year to stabilize interest rates. This was revealed in the recently released monetary policy statement for June 2018 to be implemented from the next financial year. Although interest rates will […]
Dar es Salaam. AON Tanzania, one of the largest insurance brokerage firm in has been renamed JH Minet Tanzania, following the acquisition of its shareholding by Minet Holding Africa. The new company will now be part of Minet Holdings Africa, an African insurance brokerage company which was formed by Capitalworks to operate as parent company […]
It will now be tougher to transact Sh1 million and above as banks tighten rules in bid to shed off the tag of being branded conduits of corruption deals. In a circular issued by Kenya Bankers Association (KBA) governing council to all member banks and copied to Central Bank of Kenya (CBK), some over the […]
When Athi River Mining (ARM) Cement made a Sh6.9 billion loss, the cost of running the company had suddenly shot up by 55 per cent. Part of the Sh2.8 billion administrative cost went into compensating the firm’s board of directors that is silently slithering away from the company and the responsibility to safeguard shareholder interests. […]
Focusing on everything from e-commerce, to information, to supply chain management, to IoT, 82 African agri-tech startups are spread widely across the continent, a new report has stated. According to the ‘Agrinnovating for Africa: Exploring the African Agri-Tech Startup Ecosystem Report 2018’, in all, 16 African countries play host to tech startups active in the […]
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