Proposal by struggling Nakumatt’s administrator, if adopted, will also see creditors wait until 2026 to get their dues.It will take more than a miracle for Nakumatt to recover from its financial woes, with the struggling retailer now pushing the repayment of debts to as late as 2026. Nakumatt is also expected to shed about half […]
Dar es Salaam Stock Exchange all shares index (DSEI) closed last week green after gained by 20.91 per cent to 2,362.08 points higher than 2,341.17 points recorded a day before. The increase of the DSEI caused by gains of share prices among cross listed companies include East African Breweries Limited, KCB Bank, East African Breweries […]
The European Union has earmarked 15 Million Euros to Support Uganda’s beef sector. The money is meant to finance the development of market oriented and environmentally sustainable beef industry in Uganda. The money will be channeled through the Ministry of Agriculture Animal Industry and Fisheries to finance a five year beef project whose objective is […]
Safaricom launched a new customer reward campaign dubbed Lipa Na M-PESA Cash Back Promotion on Monday. The promotion is set to boost the usage of the Lipa Na M-PESA for retail purchases and will run for the next two months. Customers who will meet their weekly target will receive monetary amounts ranging from Ksh 5 […]
When Djibouti makes international headlines, it is usually in connection with the many superpowers that have built military bases on its shore. France, the United States, China, Italy and Japan all have a major military presence in the tiny East African nation. But for Djibouti’s government, there is another major power that is even more […]
Ethiopian Airlines launched its inaugural trip from Addis Ababa to Buenos Aires, Argentina, on Wednesday with an all-female crew. The flag carrier will fly five times a week between the two capitals. The Buenos Aires route increases the airline’s destinations in the Americas to six. Ethiopian flies to Washington, New York, and Los Angeles in […]
Ethiopia, with its outstanding airlines, Ethiopian, Ethio-Djibouti railroad and other trans-boundary roads, is becoming transport hub of Africa. Being home to various international and regional organizations, the country has positioned itself as a strategic destination [point] in the map of world transportation service. And the Ethiopian is also aspiring to be the leading airlines in […]
Nairobi hotels recorded their lowest occupancy in a rating of 14 African cities last year as new establishments boosted Kenya’s total bed space even as the number of tourists arrivals rose compared to the previous year, according to industry researcher HTI Consulting. Nairobi’s occupancy performance was the weakest of the 14 cities assessed with a […]
South Africa’s retail chain, Shoprite Holdings, plans to take advantage of disarray in Kenya’s grocery sector to open its first stores in the major East African market this year. Two of Kenya’s three top retailers – Uchumi Supermarkets and former regional giant, Nakumatt – are failing, opening the door to chains such as Shoprite and […]
Rwanda’s trade deficit reduced by 21.7 per cent in 2017 due to improved international prices that boosted revenues collected from the country’s exports. This represents a fall in Rwanda’s negative balance from $1.6 billion in 2016 to $1.27 billion in 2017. This is according to the Monetary and Police Policy and Financial Stability report launched […]
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