Gambeta News, Author at Gambeta News

THE FIRST ONLINE FOREX FIRM

Posted on 8 February 2018 by Gambeta News

Execution Point Limited licenced to operate online forex Execution Point Limited received online forex licence from The Capital Markets Regulator. This is first of such authorization. Execution Point Limited is a local branch of Davisa UK Limited, with a non-dealing forex broker licence. The firm will link clients to markets by providing a platform to trade in foreign exchange. Also the firm is not allowed to engage in selling and buying of currency. Online foreign exchange trading…

E.U. POSSIBLE SOLUTION TO CAMEROON CRISIS

Posted on 8 February 2018 by Gambeta News

E.U. worries over Cameroon crisis The European Union (E.U.) has concerned themselves with the ongoing crisis in Cameroon. E.U asked the government to stop the lose of lives in area both civilians and security personnel alike. E.U. suggested that Cameroon government should begin sincere and positive discussion as a means of finding a solution to the crisis. They pleaded with all sides to stop all acts that will raise tension and lead to violence between…

KENYA’s UBA BANK SUES JYOTI

Posted on 8 February 20188 February 2018 by Gambeta News

KETRACO and Jyoti sued by UBA to avoid liquidity UBA Bank in Kenya has sued Jyoti Structures an Indian firm and Kenya Electricity Transmission Company Limited (KETRACO). The suit is because of the danger of losing the money advanced to both companies. The Bank is in liquidation, trying to recover over US$2.6 million it supported Jyoti with to build Isinya-Suswa electricity transmission line. A court order restraining KETRACO from making payments to the ailing firm…

AfDB GIVES GHANA US$20m LOAN FOR ROAD CONSTRUCTION

Posted on 7 February 2018 by Gambeta News

Ghana gets loan from AfDB to construct alternative for Adomi bridge. The African Development Bank (AfDB) have released US$20m loan to Ghana for the construction of a link road. The link road is between Volivo to Dorfor Adidome, where another bridge needs to cut across the Volta lake near the Togo border. This new 54-meter bridge, will serve as an alternative to the Adomi bridge. It will help ensure free flow of traffic whenever there is routine…

XCAPE REALITY NIGERIA PORTHARCOURT

Posted on 7 February 20186 March 2018 by Gambeta News

Xcape Reality is Nigeria’s first virtual reality experience center where you experience a world beyond imagination. Its mid week already and your wondering what to do over the week end for fun? its time to exit reality and enter virtual reality! take a break from work relax and play at the Xcape Reality Ng located at Pleasure park aba road Port Harcourt. At Xcape reality you get to experience the newest frontier in the entertainment industry….

Drought to hit other cities in Africa asides from Cape Town.

Posted on 7 February 2018 by Gambeta News

Cape Town and other cities in Africa to face drought. Plans for investment in water infrastructure in Africa needs to be set in place. As the count down to Cape Town drought comes close. May 11 is the predicted date for the drought due to the current climate change. Cape Town is not the only place in Africa that will be affected by this drought. Restrictions to water usage are been implemented in Cape Town…

E.U frets over Equatorial Guinea crisis

Posted on 7 February 2018 by Gambeta News

The European Union displeased over the political, human rights and security situation in Equatorial Guinea. Equatorial Guinea is a current member of the United Nation Security Council. European Union mandated them to take all necessary steps to fulfill its international obligations. Also as regards human rights and fundamental freedoms. The death of Mr. Ebee Ela, a member of the opposition party, under police custody is against the human right constitution. E.U said his death should be investigated…

CBN Nigeria administers US$210 million to foreign exchange market

Posted on 7 February 20187 February 2018 by Gambeta News

Foreign exchange market recieves US$210m from CBN to ensure stability and sustain liqiudity Central Bank of Nigeria (CBN) added US$210 million to the Inter bank Foreign Exchange Market. This move is in line to ensure availability and meet customers’ request. Mr Isaac Okorafor, the acting Director, Corporate Communications said the wholesale division received US$100 million, while Small and Medium Enterprises (SMEs) received US$55 million. Also, 55 million dollars for customers requiring foreign exchange for tuition…

KenGen builds 67MW hydropower plant in Tana River

Posted on 6 February 20186 February 2018 by Gambeta News

KenGen new hydroplant will supply power at cheaper rate. KenGen the power producing company is progressing to build a 67 megawatt (MW) hydropower plant on Tana River. The plan started after 6 yeasr study of the dam. Most of all the budgeted price of electricity from this firm is Sh10 per unit (US$0.10), while diesel is twice the cost. The Tana River is channeled to pure in the proposed Karura dam, reducing displacement of communities. This…

SOLAR POWER PROJECTS IN KENYA GETS US$75m FUNDING

Posted on 6 February 20186 February 2018 by Gambeta News

Kenya firms receive US$75m loan to fund solar power plants construction Two solar power plant projects in Kenya receive US$75m loan by the European Investment Bank (EIB). Interests in Kenya’s green project is rising as more world organizations are looking to finance them. The plants are developed by two Kenyan firms, Radiant Energy and Eldosol Energy. They are also located next to each other in Eldoret. The Solar plants have a capacity of 40MW each and the…

NEW ZEALAND

Posted on 6 February 201815 March 2018 by Gambeta News

INCREDIBLE THINGS YOU CAN DO IN NEW ZEALAND Exploring New Zealand’s magnificent landscapes and coastline tops the list for many. It is a small country With a population of only four million people it’s also gloriously uncrowded. New Zealand is a country of stunning and diverse natural beauty: jagged mountains, rolling pasture land, steep fiords, pristine trout-filled lakes, raging rivers, scenic beaches, and active volcanic zones. its called “God’s own country” and the “Paradise of the Pacific” and sometimes…

U.S DISTURBED BY THE VIOLENCE IN CAMEROON

Posted on 6 February 20186 February 2018 by Gambeta News

Ongoing violence in Cameroon claims lifes Civilians and security agents in Anglophone region of Cameroon has been under attack. The United States has showed concern about the ongoing incident. The U.S Department of States condemned this violence. The ongoing violence has claimed the life of two gendarmes, four civilian, a soldier and worker of the elections body, ELECAM. The Department of States sent condolences to the respective families. The Department of States, called the Government…

AFRICAN TECH SUMMIT TO SHOWCASE RWANDA

Posted on 6 February 20186 February 2018 by Gambeta News

Africa Tech Summit 2018 to hold at Kigali, Rwanda Rwanda will play host to the Africa Tech Summit 2018 with the Ministry for ICT supporting the event. The vision is to bring together great companies across the continent, and furthermore connect the various investors and entrepreneur to different international ventures which focused on business and investment in Africa. This event will connect over 250+ key stakeholders from across the continent. It will provide an unrivaled insight…

Alibaba buys stake worth US$750 million from Wanda

Posted on 6 February 2018 by Gambeta News

Alibaba invests in cinema division of Chinese Wanda. Alibaba the huge e-commerce organisation has agreed to buy stake from Wanda worth US$750 million. Wanda has been indebted. It’s stake are on its cinema section. The holding company controlled by the Beijing government will take 5.11% (around US$500 million). Generating over US$1.2 billion for Wanda. Following rapid diversification, Wanda ended up mired in debt and under the scrutiny of Chinese regulators, forcing its head Wang Jianlin…

Kenya expands Inland Container Depot (ICD) by 7.5 acres.

Posted on 5 February 2018 by Gambeta News

Inland Container Depot (ICD) in Emakasi expansion in line with the higher cargo capacity of the standard guage railway. Kenya Port Authority (KPA) approved 7.5 acres of land for the expansion of the Inland Container Depot (ICD) in Emakasi. This was done in preparation for the higher cargo capacity under the standard guage railway. KPA general manager for engineering services Joseph Atonga told the Business Daily that the idea is to increase the capacity on…

NEW REFINERY TO BE BUILT BETWEEN NIGERIA AND REPUBLIC OF NIGER

Posted on 5 February 2018 by Gambeta News

Ongoing agreement for the new refinery between Republic of Niger and Katsina state, Nigeria. Plans for a new refinery in Nigeria and the neighboring Niger Republic has been set in place. The agreement for the design and construction of the refinery has been discussed by Ibe Kachikwu, Nigeria’s minister of state for petroleum resources, who consequently led a Nigerian government delegation to Niamey. The refinery is to be located at a border between the two…

National resistance Movement (NRM) General Miguna has been arrested.

Posted on 2 February 2018 by Gambeta News

Kenya arrested National resistance Movement (NRM) General Miguna Miguna, the other legislator that participated in the illegal ‘swearing in’ ceremony of opposition leader Raila Odinga. On Friday 26th Jan 2018 The self-appointed National Resistance Movement (NRM) General Miguna Miguna arrested on Friday 26th Jan 2018. NRM is a resistance wing of the opposition National Super Alliance Coalition (NASA). He openly declared himself as the general of the NRM which is an outlawed group. The Director…

MALL FOR AFRICA SPREADS TO MORE PARTS OF AFRICA.

Posted on 2 February 2018 by Gambeta News

Mall for Africa expands to 11 new countries in Africa. Worldwide e-commerce and m-commerce colossus, Mall for Africa will expand into 11 new countries in Africa. In acknowledgement to the growing demand for its patented platform, the app will now be available in African countries like Angola, Chad, Guinea, Botswana, Tanzania, Uganda, Malawi, Egypt, Democratic Republic of Congo, Senegal, and Sierra Leone. The app offers items from 250 US and UK retailers to stores that are…

ZUMA: National Prosecuting Authority should not prosecute me.

Posted on 1 February 20182 February 2018 by Gambeta News

South Africa’s National Prosecuting Authority (NPA) receives a document from President Jacob Zuma saying he should not be prosecuted. South Africa’s National Prosecuting Authority (NPA) extended the time limit for Zuma to give reasons why 783 counts of corruption linked to a 30bn rand ($2.20bn) arm deal arranged in the late 1990s should not be reinstituted. That same night, they received a document from him. The last hearing would be on or before the end…

NSE’s VOLUME INCREASED BY N42.5bn FROM LAST WEEK’s TRANSACTION.

Posted on 1 February 2018 by Gambeta News

NSE’s N42.5bn increase due to heavy transaction last week Following the large transactions in the shares of some companies especially Transnational Corporation (TRANSCORP), and First City Monument Bank (FCMB) last week. This increased the amount of shares traded with a turnover of 7.157 billion shares worth N42.545billion were recorded in 39,037 deals by investors on the floor of the Nigerian Stock Exchange (NSE). This volume of shares traded was, however, higher than a total of 5.011 billion…

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