Despite various interventions from the government, power utility Eskom is bleeding billions of rands. The company released its financial results on Tuesday saying it incurred a net loss after tax of R23.9 billion. This is a significant increase from the R11.9 billion net loss reported for the previous financial year. The company, whose load shedding […]
Tag: Business and Finance
The Gold One Mine is reportedly stopping any miner represented by the Association of Mineworkers and Construction Union (Amcu) from entering the mine following a three-day-long underground strike last week. The East Modder mine operation has also sent suspension letters to 20 miners suspected of being the ringleaders of the major strike. On Tuesday morning […]
Despite being on the brink of bankruptcy, Eskom is diving into a multi-million-rand rebranding mission. South Africa’s power utility company is on the hunt for a new look, launching a tender to design logos and establish a fresh corporate identity for its three new subsidiaries: Generation, Transmission, and Distribution, as well as any future Eskom […]
The Nigerian Railways flagged off e-ticketing for the Lagos-Ibadan and Itakpe-Warri routes on Monday. Said Alkali, the Minister of Transportation, says the Nigerian Railways, will commence e-ticketing on Wednesday. Mr Alkali said this on Monday in Abuja during the flag-off of e-ticketing for the Lagos-Ibadan and Itakpe-Warri routes. According to him, the e-ticketing system will […]
Dear Mr. Speaker: (Dear Madam President:) In accordance with section 506A(a)(3)(B) of the Trade Act of 1974, as amended (19 U.S.C. 2466a(a)(3)(B)), I am providing advance notification of my intent to terminate the designation of the Central African Republic, the Gabonese Republic (Gabon), Niger, and the Republic of Uganda (Uganda) as beneficiary sub-Saharan African countries […]
The Office of the President through the directorate of socio-economic monitoring and research will in collaboration with the State House Anti-Corruption Unit, the National Building Review Board and the Internal Security Organization carry out an oversight inspection exercise of service delivery in Lango and West Nile sub regions. According to the state minister for economic […]
The federal government said the partnership with GeoScan GmbH will help Nigeria fully explore its solid mineral resources, which can make a substantial contribution to the country’s Gross Domestic Product. Nigeria’s Solid Minerals Development Fund (SMDF) and GeoScan GmbH of Berlin, Germany, have signed a Memorandum of Understanding (MOU) on solid minerals development. This significant […]
Student Aid Scheme Caught Paying Millions to Ghost Students The National Student Financial Aid Scheme (NSFAS) is paying R1,650 monthly allowances to 157,980 “ghost students” through the state-funded programme, reports Khaya Koko in an exclusive News24 report. NSFAS revealed on October 18 that a forensic probe found that fired NSFAS CEO Andile Nongogo handpicked four […]
Nairobi — The Government will prioritise the production of affordable smart devices to boost digital access. President William Ruto said the move will expose Kenyans to broader and better opportunities. He noted that going digital on a large-scale will spur the country’s growth. “It will also catalyse the actualisation of our development agenda,” he explained. […]
At least 63 people were killed in one week on Ugandan roads, police have said. According to the Traffic Police spokesperson, Superintendent of Police, Michael Kananura, between October, 23 and 29th, 423 crashes were registered around the country. “In these crashes, 338 sustained injuries and 63 died. Of the fatalities registered, 25 cases were for […]
Nairobi — Kenya’s first smartphone assembly plant has been opened at Athi River in Machakos to produce affordable gadgets for Kenyans. The phones will be manufactured at East Africa Device Assembly Kenya Limited (EADAK), a joint venture of local mobile network operators and international device manufacturers. The devices, which will be available countrywide at Faiba […]
Rwanda could soon be home to global professional software testers after the country’s software testing qualifications board (RWSTQB) was admitted as the 69th member board at the International Software Testing Qualifications Board (ISTQB), officials have said. The development was announced at a General Assembly recently in Tokyo, Japan, making Rwanda an independent member, after being […]
Nairobi — Kenyans can now access affordable locally assembled smartphones following the launch of the state-of-the-art East Africa Device Assembly Kenya Limited, located in Athi River. The device assembly factory was set-up as a joint venture of local Mobile Network Operators and International device manufacturers. The devices which will be available countrywide at Faiba shops […]
The Uganda Revenue Authority (URA) has said it recently acquired a state-of-the-art machine to facilitate comprehensive tests on imported rice, enabling the determination of its country of origin. The National Agricultural Research Organization has provided this advanced machine to support URA in its efforts. This acquisition comes at a crucial time when trucks transporting rice […]
Nairobi — President William Ruto has assured that Kenyans will be able to transact using fingerprints and iris by December when the Digital ID platform dubbed the Maisha Number becomes operational. The President promised that the Digital ID will be in use come December with the testing program set to be concluded end of November […]
Kenya initiated a series of measures to revitalize its cargo business at its ports, challenged by competition from the port of Dar es Salaam, reports The East African. Cargo owned by governments in the region will be handled by the Government Clearing Agency (GCA) while other policies include reduction of port fees and an extension […]
The NESI is primarily made up of the Generation Companies (GenCos), the Transmission Company of Nigeria (TCN), the Distribution Companies (DisCos), and the consumers. The Nigerian electricity market operators will on Monday begin to review the Nigerian Electricity Supply Industry (NESI) performance in the country. Stephen Ogaji, the chairperson of the NESI market participants and […]
A group of freight forwarders known as Patriots Anti-Corruption Initiative, T-PACI, has indicated that current pressures on foreign exchange supply and the consequent sharp depreciation of the Naira will soon crash the volume of Nigeria’s imports. National President of T-PACI, Stephen Chigozie, who disclosed this at a news conference in Lagos, explained that situation will […]