Economy

DRC President announces state of siege

Date: Oct 20, 2021

A state of siege declared in the Democratic Republic of Congo (DRC) eastern provinces.

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Credit Suisse to pay at least $400m in Mozambique scandal

Credit Suisse Group AG agreed to pay almost $475 million to resolve multiple investigations into its role in a fundraising scandal that saw hundreds of millions looted from Mozambique and tipped the country into economic crisis.

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Netflix SA raises the price of its standard, premium tiers

Netflix is hiking the price of two of its most popular plans in South Africa, the standard and premium tiers, with immediate effect.

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Kenyan firm to earn hefty fees in MTN Uganda IPO

MTN Uganda has picked Kenyan investment bank, Dyer and Blair, to assist with its initial public offering (IPO) guaranteeing the firm, owned by billionaire businessman Jimnah Mbaru, hefty fees.

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Tanzanian passport ranks 77 on world's most powerful list

The Tanzanian passport has ranked 77 among the world's most powerful passports, according to the latest report which assesses the influence of global travel documents.

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Halotel targets 10 million subscribers by 2023

Viettel Tanzania PLC, which trades by its brand name Halotel plans to increase its subscribers from the current seven million to 10 million by 2023.

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Egypt, Greece, Cyprus sign electricity linkage MoUs

Egypt’s Minister of Electricity, Mohamed Shaker, signed Tuesday electricity linkage memorandum of understanding (MoUs) with Greece and Cyprus.

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Kenya, Uganda set date for sugar, milk trade talks

Kenya and Uganda are set to take another stab at easing trade tensions between them amid jitters on whether the two countries would find a lasting breakthrough.

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Zimbabwe’s Econet sees carbon footprint rise as power cuts hit

Econet Wireless Ltd., the biggest telecommunications operator in Zimbabwe, said an erratic power supply has led to an increase in carbon footprint and the cost of doing business.

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Twelve million people in Kenya, Somalia, Ethiopia in urgent need of food assistance

At least 12 million people in Kenya, Somalia and Ethiopia are in urgent need of food assistance following a prolonged dry spell and the predicted failure of the oncoming short rain season according to United Nations Food and Agriculture Organisation.

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SA’s Renergen seals deal pioneering first helium spot market

South Africa’s natural gas and helium producer Renergen has signed a $25 million forward sale agreement with United States Company Argonon Helium, which is intended to bring price transparency to the currently muddy helium market.

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