Gym equipment bought for the Kenya Airports Authority (KAA) with Sh10 million in taxpayers’ money lay idle for three years, a parliamentary committee heard yesterday. The National Assembly’s Public Investments Committee (PIC) yesterday put KAA managers on the spot over the fitness accessories bought in February 2018. Lawmakers asked KAA Chief Executive Officer Alex Gitari […]
Tag: Company News
BUSINESSES in Chipinge Town have objected their council’s proposed 2022 shop licence fees saying they are too exorbitant as most companies are still reeling from negative impacts of Covid-19. Chipinge Town council ran its 2022 budget consultations from 25 October up until 4 November. A total of 188 businesses Tuesday lodged their objections to proposed […]
Dar es Salaam — Long-serving bank chief executives and board members will soon exit their positions after the central bank capped their their tenure at 10 years. The new regulations which were announced by the Bank of Tanzania (BoT) this week, seek to improve governance among banks and other financial institutions by establishing standards for […]
The National Information Technology Development Agency (NITDA) has said it will soon partner the Federal Competition and Consumer Protection Commission (FCCPC) to prosecute money lenders who abuse their debtors’ data. The partnership would entail joint investigations, enforcement and prosecution of offenders, NITDA’s spokeswoman, Hadiza Umar, noted in a statement Friday. Section 17(a) of the FCCPA, […]
President Muhammadu Buhari has congratulated the founder of the Tony Elumelu Foundation, Mr Tony Elumelu, on the selection of 4,949 young Africans for the 2021 entrepreneurship programme. The president, in a statement issued Friday by his spokesman, Femi Adesina, lauded Elumelu on his vision in training, mentoring and funding entrepreneurs from the 54 African countries, […]
SUB: At least 305 people have died from building collapse in Nigeria since 2013, data from reported cases collated by Daily Trust showed. … … At least 305 people have died from building collapse in Nigeria since 2013, data from reported cases collated by Daily Trust showed. Also, no fewer than 449 people got injured […]
Tunis/Tunisia — TLG Capital and United Gulf Financial Services North Africa (UGFS-NA) have just been selected as managers of the Empower Fund-B, launched by the Tunisian Deposit and Consignment Office (CDC Tunisia). The latter recalled in a press release on November 11 that it has undertaken to raise 700 million Tunisian dinars (MD) (about US$ […]
Rail parastatal TransNamib has set the wheels of retrenchment in motion with an internal memo sent to their employees, notifying them of the process. The leaked memo in The Namibian’s possession reads: “Management hereby informs you that TransNamib Holdings Limited will commence with a rightsizing process through voluntary exits.” The document is dated 3 November, […]
CONGLOMERATE, Meikles Limited, says it is upscaling its climate sustainability efforts as they have a direct bearing on the group’s operations, especially the agriculture segment. This comes as climate change is now presenting a major risk for businesses hence the need for proactive mitigation initiatives. The world is under threat from the adverse impacts of […]
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Zimbabwe: NRZ Hit By Locomotive Shortages
The Zimbabwe United Passenger Company (ZUPCO)’s partnership with the National Railways of Zimbabwe (NRZ) partnered with the Zimbabwe United Passenger Company (ZUPCO) in the provision of commuter trains in urban areas has suffered a major setback after they ran out of coaches and locomotives The service was first lunched in Harare on the Tynwald, Kambuzuma […]
Grocery retailer, TM Pick ‘n Pay suffered a 21 % sales decline, prompting management to devise strategies to keep the entities on the profitable margin. Presenting an annual report for the year 2021, Meikles Limited’s (the holding company) chairman, John Moxon, said the Covid19 pandemic had a negative impact on sales performances. “Sales volumes declined […]
Fishrot accused Mike Nghipunya was plucked from relative obscurity to the position of CEO for the National Fishing Corporation of Namibia and earning an annual salary of N$1.3 million. The Windhoek High Court heard yesterday Nghipunya, who was an economist in the fisheries ministry, was never interviewed for the lucrative position. Nghipunya, who was still […]
Managing Director, Great Nigeria Insurance Plc, Mrs. Cecilia Osipitan, has attributed current significant improvement in the operations and financial performance of the company to the company’s unflinching commitment towards service delivery. In a statement, the GNI boss posited that the underwriting firm was on the trajectory of achieving and even surpassing its target for the […]
Safaricom has evacuated some of its employees from Ethiopia because of armed conflict and civil unrest in what could disrupt the firm’s operations in the populous nation. Safaricom, whose consortium aims to start operations in Ethiopia next year, got the employees out of the country on Wednesday and Friday. A number of nations, including the […]
ENERGY and Power Development Minister, Zhemu Soda, has said the Hwange 7 and 8 expansion project is expected to come on-board by July and September 2022 respectively, adding 600MW into the national grid. The expansion project entails construction of two units of 300MW each, adding to the existing 920MW Hwange Power Station at a cost […]
The Namibian Cabinet has decided to discontinue the regional weekly Southern Times. This was announced by minister of finance Iipumbu Shiimi during his mid-term budget speech last week. This comes after Southern Times, a partnership between the Zimbabwean and Namibian governments, in 2019 announced it would close down at the time after 15 years of […]
The national rail service operator TransNamib will commence with a rightsizing process through the voluntary retrenchment of about 340 of its employees. It has previously been reported that TransNamib will embark on the process necessitated by a substantial decline in cargo volumes as well as some positions having become redundant as a result of certain […]
Farmers in the Leonardville area of Omaheke region have vowed to put a stop to uranium exploration by Russian entity Headspring Investment. Their main concern is the potential pollution with radioactive minerals of the underground water resource that covers the Stampriet Artesian Basin (SAB) aquifer, the largest artesian basin in the country, which covers 60 […]