Tuesday 17 October 2017
(APA 10/16/17)
APA-Dakar (Senegal) - The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration. AfDB President Adesina will receive the 2017 World Food Prize on Thursday October 19, announced a press release issued by the AfDB on October 16, which also said “the prize is to agriculture what the Nobel Prize is to peace,...
(APA 10/13/17)
APA-Harare (Zimbabwe) - Zimbabwe’s integrated beverage company Delta Corporation is close to finalising a deal in which it will acquire a majority stake in Zambia’s National Breweries Plc, the company announced on Friday. Delta Corporation company secretary Alex Makamure said in a notice to shareholders that the equity was being acquired from Heinrich’s Syndicate, a subsidiary of Anheuser-Busch InBev SA/NV (AB InBev). “Delta Corporation is finalising a transaction to acquire a controlling stake in National Breweries Plc (Natbrew), the Zambian sorghum beer company with a listing on the Lusaka Stock Exchange,” he said. The transaction is subject to various regulatory approvals, according to Makamure. He said the Delta board was optimistic that “the company will leverage on its over 60...
(AFP (eng) 10/10/17)
Economic growth in sub-Saharan Africa is set to accelerate to 3.4 percent next year, the International Monetary Fund said Tuesday, citing Nigeria's recovering oil and agricultural sectors. The IMF said in its latest World Economic Outlook report that the region would grow by 2.6 percent this year after 1.4 percent in 2016. "Growth is expected to rise gradually," it said, while noting that the rate would be uneven and "barely above population growth". GDP in the west African powerhouse Nigeria...
(Reuters (Eng) 10/05/17)
NAIROBI (Reuters) - Hilton Worldwide Holdings Inc. (HLT.N) plans to spend $50 million over the next five years to add 100 hotels to its chain in Africa, it said on Thursday, joining other chains keen to tap growing business and international travel on the continent. One property will open in the Kenyan capital Nairobi by the end of this year and another in the Rwandan capital Kigali in 2018, it said in a statement. There was 11 percent growth in...
(Zambia Reports 09/29/17)
The 2018 National Budget will take the focus today as Finance Minister Felix Mutati presents it before parliament. Zambians will keep their ears at parliament buildings looking out for what benefits may accrue to them in the budget. Workers are forever looking out for the tinkering in payee and other taxes as Mutati would be making his presentation. Of concern will be the allocation going to the education, health and social sectors that touch the most lives. In last year’s...
(AFP (eng) 09/29/17)
Government shutdowns of the internet have cost sub-Saharan Africa about $237 million since 2015, according to a study released Friday, as authorities increasingly implement planned disruptions. At least 12 countries have had internet shutdowns, often before elections or when protests erupt, with mobile internet networks most recently suspended in Togo during opposition demonstrations. "Internet disruptions, however short-lived, undermine economic growth, disrupt the delivery of critical services, erode business confidence, and raise a country’s risk profile," the CIPESA report said. The Collaboration on International ICT Policy for East and Southern Africa (CIPESA) released its...
(Zambia Reports 09/28/17)
Zambian journalist Edem Djokotoe has taken aim at China's casino investments littered across the country arguing it is one of the worst social ills to happen. Djokotoe, posting on his Facebook page, wonders how China was allowed to channel heavy investment into gambling when it had outlawed the trade among its people. "The biggest Chinese investment in Zambia today is The Casino. "Every small town and district I have travelled to in all the provinces have gambling centres run by...
(Lusaka Times 09/28/17)
Zambia Weights and Measures Agency (ZW&MA) has seized about one Hundred underweight loaves of bread from a Shoprite outlet in Ndola to ensure that there is no risk of supplying underweight bread on the market. In a statement to Pan African Radio news, Zambia Weights and Measures Agency Public Relations Officer Mutale Chileshe said the Agency decided to carry out an inspection after receiving complaints from members of the public over suspicions of underweight bread from the retail outlet. Mr...
(Bloomberg 09/27/17)
Studio 189, a label founded by actress Rosario Dawson and fashion executive Abrima Erwiah, is reinvesting in its African roots. It’s hard enough to build a fashion brand, let alone an empire. Rare is the person who makes a mission of using fashion to build communities. Such is the case with Studio 189, a label founded by longtime friends Abrima Erwiah (formerly a marketing executive at Bottega Veneta) and Rosario Dawson (an enduring star most recently seen in Netflix’s Marvel...
(Reuters (Eng) 09/26/17)
Israel’s Elbit Systems Ltd said on Tuesday it won a contract worth $240 million to provide a wide array of defense electronic systems to an unnamed country in Africa. The contract, which will be carried out over a two-year period, is comprised of Directed Infra-red Counter Measure (DIRCM) systems to protect aircraft from shoulder fired missiles, based on passive infrared systems, and includes missile warning systems, radio and communication systems, land systems, mini-unmanned air systems and helicopters upgrade.
(Voice of America 09/25/17)
African first ladies and activists hailed progress that some governments on the continent are making on gender equality. They met on the sidelines of the United Nations General Assembly in New York. “We used to have 23 percent female representation in parliament but, with the stroke of a pen it went up to 48 percent. So, we managed to double our female representation with that decision,” said Namibia’s first lady Monica Geingos at a roundtable invitation-only event co-hosted by the...
(Xinhuanet 09/21/17)
Zambia, Africa's second biggest producer of copper, saw export earnings from the red metal increasing by 49.7 percent in the first half of 2017, figures released by its finance ministry said on Thursday. Earnings from copper earnings rose to 3,165.9 million U.S. dollars during the first half of 2017 from 2,114.3 million dollars over the same period last year, according to figures published in the 2018-2020 medium term expenditure framework released by the ministry. This has been attributed to an...
(Reuters (Eng) 09/19/17)
Zambia will resume talks with the International Monetary Fund on an aid program in October and hopes to get IMF board approval by the end of the year, one of its finance officials said on Tuesday. The country , which is Africa’s second-biggest copper producer, has suffered from the steep commodity price drop of recent years. Last March, it began talks with the IMF about a potential loan package after agreeing that its budget deficit was not sustainable. “The engagement...
(Bloomberg 09/19/17)
Zambia borrowed $134 million from Standard Chartered Plc to help fund the road sector, according to a finance ministry official. The borrowing plan was included in the 2017 budget, Mukuli Chikuba, permanent secretary at the finance ministry, said in a text message on Tuesday. The loan is the second that Standard Chartered has arranged for the government since a $450 million syndicated deal in the first half of 2016. Five new loans worth $296 million were contracted in the first...
(Bloomberg 09/19/17)
Zambia is seeking bidders for a fourth mobile-network license to take on operators including market leader MTN Group Ltd. in the southern African country, Transport and Communications Minister Brian Mushimba said. The ministry last week gave the go-ahead to the telecommunications regulator to start the process, he said in a recorded response to questions on Monday. The new carrier could be in place over the next six to 12 months and the country may even have capacity for a fifth...
(Xinhuanet 09/19/17)
Zambia is among 15 member countries of the Common Market for Eastern and Southern Africa (COMESA) that have adopted the regional industrialization strategy aimed at speeding up the industrialization agenda, the regional bloc said on Tuesday. Adopted by the COMESAA Council of Ministers in 2015, the COMESA Industrial Policy defines key interventions at both regional and national levels to speed up industrial development in the region. Thierry Mutombo, director of industry at the regional bloc said in a statement that...
(The Guardian 09/18/17)
Anna Jones says that, through selling its cocoa cheaply, Africa is exporting its wealth overseas; while Sue Banford claims that the soya moratorium in the Amazon has done nothing to halt deforestation. Only the final paragraph in your article on cocoa farming causing deforestation in Ivory Coast (Forests pay price for world’s taste for cocoa, 14 September) mentioned the most fundamental thing – the farmer’s livelihood, or lack of it. The low value of his (or more likely her) crop...
(Xinhuanet 09/16/17)
Zambian President Edgar Lungu on Friday opened the second session of the 12th National Assembly with a pledge that his government has resolved to reduce poverty to 20 percent from the current high levels. The Zambian leader said it was unfortunate that poverty levels have remained unacceptably high at 54.4 percent despite rapid economic development over the years. He said poverty in the country was mainly a rural phenomenon, almost three times high compared to the level in urban areas...
(Reuters (Eng) 09/15/17)
LUSAKA (Reuters) - The Zambian kwacha is expected to remain under pressure next week on the back of low hard currency supply while the Ugandan shilling is likely to strengthen as demand for cash from imports subsides. ZAMBIA The kwacha is expected to remain under pressure against the dollar next week due to scant supply of hard currency in the market. At 1100 GMT on Thursday, commercial banks quoted the currency of Africa’s No.2 copper producer at 9.3700 per dollar...
(Bloomberg 09/15/17)
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa. The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years. “Telcos have opened the way...

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