PanAfrican Energy Tanzania (PAET) has responded to comments made by Tanzania Petroleum Development Corporation (TPDC) saying its contracts with the government will not be affected by the transaction between Swala Oil, Gas Tanzania and Orca Exploration Group Inc. Swala agreed with Orca to acquire up to 40 per cent of Orca’s wholly-owned Mauritius subsidiary, PanAfrican […]
Kenyan Treasury secretary Henry Rotich told the Financial Times on Friday that he will review the cap on bank lending rates that has resulted in a massive fall in loans to the private sector. This is part of the contentious reforms demanded by the IMF to extend a frozen Sh153 billion ($1.5bn) emergency standby facility […]
Kenyan property dealers’ penchant for luxurious and exclusive residences in the cities of Nairobi and Mombasa has strummed an interesting high price chord. Cytonn Investment’s Sh1 billion Amara Ridge gated community in Nairobi’s Karen where 10 villas were built on a half-acre parcel each was snapped up five months before its completion. Each unit sold […]
Officials say there is need to harmonise marketing initiatives if we are to keep tourists coming again. The revelation comes as a global ratings agency warned that the government “will continue to face liquidity pressures” due to a combination of large financing needs and an increased reliance on sources of financing with less predictable costs, […]
Governments in struggling economies could start paying higher interest for money borrowed from domestic markets due to the new accounting rules. The IFRS 9, which became effective in January, requires corporations to include a provision for T-bills and bonds to guard against the collapse of business in case the borrowing government fails to pay. For […]
Pic: The KivuWatt’s methane gas power production plant on Lake Kivu in Rwanda (NMG). The country is cited among those with expensive and unstable power. The Senate Committee on Economic Development and Finance found that work on some power substations had stalled including Shango-Birembo for the Rwanda-Uganda link, Rubavu-Bwishyura and Kibuye for Rwanda-Democratic Republic of […]
Kenyan banks have been unwilling to lend to the private sector, preferring the government through risk-free Treasury-bills and bonds. Analysts say that new interest rate framework should be developed to ensure that banks respond to monetary policy signals from CBK since they have been reluctant to do so even before the interest rate caps. The […]
The Addis Ababa City Road Authority had constructed on the aggregate a 384.8 km long road across the city in the course of the last six months, which accounts 89 per cent of the plan. Authority Communication Director Tiumay W/gebrael said that the authority had undertaken the construction of asphalt roads, pedestrian walks, drainage and […]
The announcement will be made Tuesday when a delegation from the bank visits Rwanda, led by its director for lending outside Europe, Maria Shaw-Barragan. Rwanda has struggled to implement a central sewage system; and to date, only a few hotels, hospitals and few small residential areas in Kigali have constructed sewers and waste treatment plants. […]
Agencies involved in ship, cargo, crew and passenger clearance at the port of Mombasa will be linked to the single window system as Kenya moves to curb delays. Speaking at a workshop in Mombasa on Kenya’s Coast, Maritime and Shipping Affairs Principal Secretary Nancy Karigithu said public authorities’ documents including procedures and Customs, immigration and […]
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