AFRICA NEWS Archives - Page 4 of 6

E.U. POSSIBLE SOLUTION TO CAMEROON CRISIS

Posted on February 8, 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 February 8, 2018February 8, 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…

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

Posted on February 7, 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 February 7, 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 February 7, 2018February 7, 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…

U.S DISTURBED BY THE VIOLENCE IN CAMEROON

Posted on February 6, 2018February 6, 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…

Alibaba buys stake worth US$750 million from Wanda

Posted on February 6, 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 February 5, 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 February 5, 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 February 2, 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…

WEST AFRICA LARGEST SHOPPING MALL UNDER CONSTRUCTION IN PORT-HARCOURT

Posted on February 2, 2018 by Gambeta News

Construction of the largest West Africa shopping mall in port-harcourt set to help create jobs after completion. The shopping mall construction is expected to be the largest in west Africa when completed. The project is to make the city an investment destination in the country. The shopping mall will get a road that will be reconstructed leading to the mall. During the Governor visit to the site, he was impress with the development. He further stated…

MALL FOR AFRICA SPREADS TO MORE PARTS OF AFRICA.

Posted on February 2, 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…

KENYA AWARD TURKANA POWER LINE TO CHINESE FIRM

Posted on February 1, 2018 by Gambeta News

Ketraco award contract for 428km power line construction after isolux contract was terminate. The Turkana power line project has been awarded to the consortium, consisting of NARI Group Corporation and Power China Guizhou Engineering Company. Ketraco terminates Isolux contract because the project will be push back after it was place under ownership. The termination of the project was after its parent company filed for bankruptcy in Spain. The project which is a 428-kilometre power line has 70%…

ZUMA: National Prosecuting Authority should not prosecute me.

Posted on February 1, 2018February 2, 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…

EU GIVES GHANA A GRANT WORTH €175 MILLION.

Posted on February 1, 2018February 1, 2018 by Gambeta News

Ghana receives €175 million grant. Ghana and the European Union (EU) has come to a conclusion as regards to the agreement to support Ghana’s plan of developing the country in 7 years time with a total of €175 million. The agreement signed by Finance Minister, Ken Ofori-Atta on behalf of the West African country and the EU Ambassador to Ghana, William Hanna. €102 million from the grant will be for Ghana’s Productive Investment in Infrastructure for Agriculture…

CBN MADE US$514.4 MILLION IN TWO WORKING DAYS

Posted on January 30, 2018 by Gambeta News

CBN sold up to US$514.4 million in two trading days The Central Bank of Nigeria (CBN) in the foreign exchange (forex) market sold up to US$210m last weekend, and US$304.4m yesterday making a total of US$514.4m in two days. Therefore, the local currency has been stable for the past four days, fluctuating around N305 and N305.70 per dollar officially and N360 to N306.37 in the black market. According to FMDQ OTC security exchange data, yesterdays…

PERSEUS COMPLETES FIRST GOLD POUR AHEAD OF SCHEDULE

Posted on January 29, 2018 by Gambeta News

Perseus mining has done her first gold pure ahead of schedule Perseus mining company completed its first gold pour in Ivory Coast one month ahead of schedule. The estimated capital cost of the full development of the mine and infrastructure, amounted to $107-million. As part of the implementation of its operations readiness plan for Sissingué, Perseus has recruited an experienced operating team under the leadership of General Manager Merlin Thomas. The team has…

AFRINVEST OPPOSES IMF ON THEIR NIGERIA’S FOREX PERPECTIVE

Posted on January 29, 2018 by Gambeta News

The Group Managing Director of Afrinvest, Ike Chioke, unveils the preview of Nigerian’s economy and financial market. Afrinvest (West Africa) Limited has disagreed with a report credited to the International Monetary Fund (IMF), which said that the nation’s foreign exchange market is still deep in uncertainty. The company said such assessment of a market that has undergone series of reforms, with notable results, particularly the establishment of the Investors’ and Exporters’ Window that attracted $29billion…

NWTGC US$480M CONSTRUCTION SET TO KICK-OFF IN BOTSWANA

Posted on January 26, 2018January 29, 2018 by Gambeta News

The project will create new jobs and help the nation be one of the distributor of power to neighbouring countries. The ground breaking ceremony of the power line construction project was presided over by Advocate Sadique Kebonang, the Minister of Minerals Resource, Green Technology and Energy. The project termed North West Transmission Grid Connection(NWTGC) costs about US $480m and is divided into two phases. Phase I is the construction of a 400 kv backbone transmission line with…

ISUZU MOTOR LIMITED OPENS A BRANCH IN KENYA

Posted on January 26, 2018 by Gambeta News

General Motors East Africa meets the required regulatory for approval by Isuzu Motor Limited. Isuzu Motor limited has currently opened an official supplementary branch in Kenya following the buyout of a 57.7% majority stake in vehicle distributor, General Motors East Africa (GMEA) in 2017. Mr Susumu Hosoi the Board Chairman of Isuzu Motors Limited said “My hope is to see Isuzu East Africa grow to be an integral location not only for the country but…

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