Egyptian Pound Devaluation Nigh!!!
Egypt's foreign currency shortage intensifies and the gap between official and unofficial currency rates widens, economists say another devaluation is inevitable this fiscal year. Foreign currency inflows have been severely [...]
Loss of Qatari oil contract piles pressure on Maersk profits
Reuters Denmark's A.P. Moller-Maersk has lost a major oil production contract in Qatar this week, just days after the shipping and oil group said it was considering a break-up due [...]Tanzania Orders All Telephone Firms To List On Dar Stock Exchange
Tanzania's National Assembly has passed the Finance Bill, 2016, requiring electronic communication companies registered in the country to float their stakes on the Dar es Salaam Stock Exchange (DSE), within six months [...]Africa's Richest person bets on oil and gas, Loses $3.7Bn. on Naira Devaluation
Africa's richest person, Aliko Dangote (Nigerian), fortune fell by $3.7 Billion during the week when the Naira went on a free fall after abandoning it's unsustainable peg between 197 and [...]Four Reasons The Wealthy Invest In Frontier Markets
Author: Todd Millay (Forbes) Investors searching for growth are increasingly looking beyond the more familiar emerging markets to “frontier markets.” While it was rare for family office investors to invest [...]Uganda's Parliament accuses Kenya Airways Of Overcharging Ugandans
Kampala Uganda Parliament has accused Kenya Airways for over-charging Ugandans especially for the trip from Entebbe airport to Nairobi. Jinja West member of parliament Moses Balyeku has called upon [...]Tullow Oil cuts spending, suspends dividends
TULLOW OIL HAS suspended payments of dividends to its shareholders, slashed funding for new exploration and limited capital expenditure to key projects. The company also sent a number of staff [...]Algeria President fires Central Bank Governor
Algeria'a President Abdelaziz Bouteflika has terminated the duties of Central Bank Governor Mohamed Laksaci and has replaced him with Mohamed Loukal who held the position of CEO of BEA (Exterior Bank of Algeria). [...]World Bank to help Central Bank of Somalia set up $2.5M IT Platform
The Central Bank of Somalia has partnered with IT firm SOFGEN International Holdings to revive the country’s financial sector that has been in doldrums following political instability by setting up [...]Vodacom drops M-Pesa in South Africa
Vodacom is discontinuing its M-Pesa mobile money service in South Africa, following a review of the service’s viability. In a statement, Shameel Joosub, CEO, said: “Vodacom’s decision is based on [...]South Sudan Keen on setting up a stock exchange
South Sudan Government says its keen on setting up a stock exchange with the help of the Capital Markets Authority(CMA) of Rwanda. This emerged when a delegation of civil servants from the [...]Why Rwanda is the best choice for WEF 2016
By IVAN R. MUGISHA, The EastAfrican KIGALI WILL host the 26th World Economic Forum on Africa in Kigali, whose theme, “Connecting Africa’s Resources through Digital Transformation,” fits perfectly with Rwanda’s [...]
