Business

Qatar Airways seeks to acquire 49% stake in RwandAir

DOHA, QATAR – The Group CEO of Qatar Airways, Akbar Al Baker has confirmed that the gulf airline is negotiating the acquisition of at least 49 percent stake in RwandAir, Rwanda’s national carrier. Speaking on Wednesday, February 5, Al Baker told the media on the margins of the Qatar Aviation Aeropolitical and Regulatory Summit that; “It …

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2019 Business Review: CFA reforms, border closures, power crisis, AfCFTA etc.

The business news calendar for 2019 was busy and bubbly with issues from monetary reforms across West Africa, financial squeeze in Central Africa whiles the Southern bloc experience dire economic times. The crisis down south had to do with power crisis in the most advanced economy South Africa which impacted neighbours including Zimbabwe, Mozambique and …

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New system set to write off region’s cheque books

East African businesses doing cross-border transactions have less than two years to use their cheque books after which all bulk payments in the region will be done electronically. The EAC-Payment and Settlement System Integration Project (EAC-PSSIP) is nearly complete, with work currently ongoing to upgrade the Real Time Gross Settlement (RTGS) systems of regional central …

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UNLIKELY LANDLORD Student reveals how he bought TWO houses before turning 20 – and now he rents them out

FOR most young people buying a home seems impossible but one student has revealed how he bought TWO houses at the age of 19. Ollie Stock, 19, bought two run-down properties in Dover this year and now rents them out to supplement his £27,000 a year salary working in construction. Despite still living with his …

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Home and away: Zimbabweans believe there is more to economic crisis

Besieged Zimbabwe notched the backing of neighbours South Africa, Namibia, Tanzania, the SADC and the African Union ahead of last week’s anti-sanctions march, ironically snubbed by its own citizens. At a time Zimbabwe is faced with the worst-ever food insecurity, a collapsed healthcare system and a dysfunctional financial sector, President Emmerson Mnangagwa’s government splashed $4 …

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Tanga Cement announces first-half financial results

Tanga Cement Plc has published results for for the half year ending June 30, 2019. The Dar es Salaam Stock Exchange-listed company said the results were largely aimed at damage control after it had earlier published a cautionary notice advising its shareholders that it expected a drop in its operating profit. “The company’s sales revenue …

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