African News Archives - Page 2 of 3

TRANSNET INTERNATIONAL HOLDINGS AGREES ON DEAL TO TRANSFORM GHANA’S RAILWAY SYSTEM.

Posted on May 28, 2018 by Gambeta News

South Africa’s Transnet International Holdings agrees on the deal to transform Ghana’s railway transportation system. Transnet International Holdings plans to supply 110 wagons to Ghana Railway Company Limited by the end of 2018. This plan will give improve this sector of transportation in Ghana. The deal includes the supply of 22 coaches, two locomotives, and two power vans with first class kitchens. Hence, this deal is possible through Ghana’s partnership with South Africa’s Ministry of…

ETHIOPIA GOVERNMENT AND ODF LEADERS COME TOGETHER TO PROMOTE UNITY IN THE COUNTRY.

Posted on May 24, 2018 by Gambeta News

Ethiopia’s prime minister, Abiy Ahmed has met with representatives of exiled opposition party, the Oromo Democratic Front (ODF) after the latter agreed to participate in Ethiopia’s political discourse peacefully. Oromo Democratic Front (ODF) and the Government of Ethiopia has come to an agreement to resume democratic processes in the country. The location of the meeting is still unknown. Hence, the party will operate alone or form alliances with other political party. The chairman of Front,…

GOOGLE GRANTS Sh200M TO KENYAN BASED CHARITY ENTERPRISES.

Posted on May 24, 2018May 24, 2018 by Gambeta News

Sh200 million Google grant to be given to on-profit and social-based enterprises using technology to improve lives. Google is giving Sh200 million grant to the 12 finalists of the first African Google Impact Challenge in Kenya. The Google grant is to enable the charity enterprises improve the society with their ideas. The grant will aid these organisation to better their host community with their ideas. The enterprises have 6 months to apply for the grant. The…

KENYA’S SOFTWARE GROUP AIDS ZIMBABWE BANK TO GO DIGITAL.

Posted on May 23, 2018May 23, 2018 by Gambeta News

Kenyan based software company leads Zimbabwean commercial bank into the world of digital banking. A Kenyan based software company, Software Group has come to an agreement with Metbank to digitize the bank’s operations. Metbank is a Zimbabwean commercial bank, with over 70,000 customers and is one of the fastest growing institute in Zimbabwe. While Software company have branches in over 65 countries globally. In the agreement, Software Group is to install agency, Internet and mobile banking platform…

KENYA POWER AND LIGHTING COMPANY PUTS IN US$15m TO IMPROVE POWER SUPPLY.

Posted on May 22, 2018May 22, 2018 by Gambeta News

Kenya Power to install new transformers and repair old substations with the aim of improving supply. Kenya Power and Lighting company (KPLC) is investing US$15 million to enhance power supply in Kisumu. The project will include repairs on existing substations and distribution lines and also installation of new transformer. The project will also touch the western and Southern Region of Nyanza and its completion will be in 2019. The transformers will be in Kisumu South, Chemelil,…

TRAVEL BAN ON CHAD HAS BEEN LIFTED BY TRUMP

Posted on April 11, 2018 by Gambeta News

U.S. government lifted the travel ban on Chad due to her improvement security strategies The U.S. government lifted the travel ban on citizens of Chad. The ban which has lasted for six months lifted due to the increased standards of Chad’s security measures. The ban in September was as a result of terrorists entering U.S. from Chad. Seven other countries, Iran, Libya, Syria, Yemen, Somalia, North Korea and Venezuela, are still subject to the travel…

BOC GAS IN SEARCH FOR A NEW HEAD TO AID ITS POOR SALES

Posted on April 11, 2018April 11, 2018 by Gambeta News

BOC GAS former MD Millicent O. quits her office due to the company’s recent poor performance. BOC Gas one month after her former managing director gave notice to quit, is looking for a new head. The industrial gas manufacturers is going through bad times in terms of sales due to competition from imports. Millicent Onyonyi, former MD of BOC will leave the office by the end of this month. Hence, Hawkins Associates will assist in…

SOUTH AFRICA; CAPE TOWN DAY ZERO EXTENDED

Posted on February 13, 2018 by Gambeta News

Day Zero in Cape Town has been extended to enable Government prepare for its disaster. The natural disaster day (Day Zero) in Cape Town which is suppose to be on Tuesday because of the historical drought has been shifted. This decision is as a result of the gravity of drought and crisis management handled by the government. The Government will strengthen and support the disaster management sector. Also, they will help carry out incident plans…

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

Posted on February 1, 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…

MOODY’S DOWNGRADE SOUTH AFRICA’S ESKOM

Posted on January 29, 2018 by Gambeta News

Eskom recently downgraded by rating agency Moody’s. Eskom’s long term collective family rating has downgraded by the Global ratings agency Moody’s. The downgrade was from B1 to Ba3 with warning that the ratings remains under review. The rating agency pegged the downgrade to Eskom’s falling liquidity and the the ability of the government to provide balanced support to the difficulties faced by electricity parastatal. In an attempt to resolving the ongoing downgrade, a new Deputy President…

GHANA MAINTAINS POLICY RATE

Posted on January 23, 2018 by Gambeta News

Bank of Ghana maintains policy rate at 20% After the conclusion of the Monetary Policy Committee (MPC) meeting held yesterday (January 22, 2018) by Bank of Ghana, it was announced that Ghana’s central bank would maintain its policy rate of 20%. The Central Bank Governor, Dr Ernest Addison explained that the decision was reached to help keep inflation at a stable rate. He further added that a trend decline in the headline and core inflation allowed for a 550 basis…

MONETARY POLICY COMMITTEE MEETS TO REVIEW GHANA’S ECONOMY

Posted on January 22, 2018 by Gambeta News

Quarterly meeting held by Ghana’s Central Bank’s Committee on Monetary Policies to review the country’s economy. Bank of Ghana committee on monetary policies met on the 19th of January 2018 for its quarterly meetings to review Ghana’s economy. The meeting which is the first for this year will be concluded today 22nd January 2018, with the committee releasing the policy rate for the year. The Central Bank in 2017 alone reduced the policy rate by…

GERMANY PROVIDES US$27m FOR ENERGY ISSUES IN NIGERIA

Posted on January 19, 2018 by Gambeta News

Nigeria to get US$27m from Germany to tackle energy issues. According to German Ambassador to Nigeria, Bernhard Schlagheck, The German government has provided a total of US $ 27m to Nigeria, to address energy and climate change issues in the country. The sponsorship which is termed Nigerian Energy Support Programme (NESP), would be implemented by the German Development Corporation (GIZ). The German government Technical Advisor Group, will also provide mobile care hospitals for the Nigerian military with…

MOROCCO AWARDS CONSTRUCTION OF PUMPED STORAGE HYDROELECTRIC PLANT

Posted on January 19, 2018 by Gambeta News

VINCI Construction company to build pumped storage hydroelectric plant in Morocco. The Moroccan government has awarded the contract to construct a US$346m pumped storage hydroelectric plant (PSP), near Agadir to a French-based company VINCI Construction company. The project which is part of the development and integration plan for renewable energies, includes execution studies, civil engineering works, supply and transfer of equipment, assembly, testing and commissioning of the station. The civil engineering works will include the excavation of two basins, the digging…

UPGRADE OF SOUTH AFRICA’S SOWETO BRIDGE COMMENCES

Posted on January 18, 2018 by Gambeta News

Owing to the over-topping during heavy rainfall, the Johannesburg Roads Agency (JRA) have kicked off reconstruction work on the soweto bridge over Klipspruit river, in Soweto. According to statement by JRA, the bridge in Klipspruit West is known to bring traffic to a halt during heavy downpours, rendering it unsafe for pedestrians due to the increased water levels on low lying areas of the structure. The bridge will be closed throughout the construction period which is from January…

GAME OF THRONES THEMED HOTEL OPENS IN LAPLAND FINLAND

Posted on January 17, 2018March 6, 2018 by Gambeta News

Winter is here to stay as Finland opens a “Game of Thrones” themed hotel. Fans who have long dreamed of visiting the mythical Seven Kingdoms can now get the ultimate Westeros experience. The GOT themed hotel which is located in Finnish Lapland, an hour-and-a-half flight from Helsinki has 30 standard rooms and suites, all made of ice and snow. It changes in shape, size and design every year. Covering an area of about 20,000 square meters, the…

GHANA CARGO TRAFFIC REACHES 21m METRIC TONNES

Posted on January 17, 2018 by Gambeta News

Ghana records positive increase in its cargo traffic. Reports from Ghana Ports and Harbours Authority (GPHA) revealed that a total of 21million metric tonnes of cargo was handled in 2017, which exceeded the set target of 20million metric tonnes, a 2million metric tonnes increase over the 19million metric tonnes recorded in 2016. Figures in the report showed that the gross of cargo was carted by the 1,850 vessels that called at the Tema and Takoradi ports —…

NIGERIA MAKES N150bn FROM PADDY RICE PRODUCTION

Posted on January 17, 2018January 17, 2018 by Gambeta News

Paddy rice production increases from 5m tonnes to 17m tonnes in 2 years. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh in a meeting with the governor of Plateau state Gov. Simon Lalong, said that “the production of rice paddy improved from 5 million to 17 million tonnes in the last two and half years”. He noted that the country would stop rice importation in the next six months to satisfy local demands. He…

SAMSUNG: TAX INCENTIVES PREREQUISITE FOR NAIROBI ASSEMBLY PLANT

Posted on January 16, 2018January 16, 2018 by Gambeta News

Tax incentives needed as prerequisite for setting up Samsung assembly plant in Kenya Korean electronics firm Samsung, has requested for tax concessions and safeguards against counterfeit imports as a prerequisite for opening its assembly plant in Kenya. The president Samsung electronics Africa, Sung Yoon on Monday said state incentives in form of tax benefits and blockage against the influx of fake phones and electronics would enable the company to set up a local production factory cost-effectively. While…

Egypt president Sisi makes peace with Sudan

Posted on January 16, 2018January 16, 2018 by Gambeta News

Egypt President Sisi said there is no conspiracy against Sudan and has no plan to fight in reference to the rising tension. Relations have deteriorated in recent weeks, including over a Sudan-Turkey naval agreement that angered Cairo and an ongoing dispute over a dam Ethiopia is building on the Nile river that runs through all three countries. Sudan has recalled its ambassador to Egypt without saying when he might be back and also refered the matter…

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