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East Africa News

  • Africa’s Growth: Nobel Laureate Joseph Stiglitz Calls For New Strategy

    BOTSWANA, 2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.
  • Ecobank launches mVisa across 33 African Countries

    BOTSWANA, 2017/10/19 Ecobank Scan+Pay with mVisa delivers instant, fasten cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a incomparable merchant identifying code into either a feature phone or smartphone Ecobank (https://Ecobank.com) has partnered with Visa to launch Ecobank Scan+Pay with mVisa solutions to their consumers. The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to due access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).
  • Drought cuts 14pc in tea production

    KENYA, 2017/10/17 Tea production in the initial eight months of the year dropped 14 % due to a severe drought in the initial quarter. Monthly data from the Tea Directorate indicate the volumes of the crop dropped from 309 million kilos last year between January and August to 265 million kilos in the corresponding period this year.
  • Moody’s set to downgrade 3 top banks

    KENYA, 2017/10/17 World ratings agency Moodys has warned of a likely downgrade of credit and deposit scores of three Kenyan banks, citing the country’s deteriorating deficit situation. The agency said it had placed on review for downgrade the B1 world scale long-term local-currency deposit ratings and the b1 baseline credit assessment (BCA) of KCB Bank Kenya Limited (KCB Bank), Equity Bank Kenya Limited (Equity Bank) , and Co-operative Bank of Kenya Limited (Co-op Bank).
  • ‘Betting on Africa to Feed the World’ – AfDB president Adesina

    BOTSWANA, 2017/10/17 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.
  • EU urges dialogue ahead of repeat polls on October 26

    EUROPEAN UNION, 2017/10/17 The European Union Observer Mission to Kenya on Monday urged both the ruling Jubilee government and the opposition to give dialogue a luck, so there can be a peaceful electoral process with integrity and transparency, ahead of next week’s repeat presidential elections.EU Chief Observer Marietje Schaake said the introduction of the highly controversial electoral amendment bill, passed by Jubilee MPs in Parliament and awaiting presidential assent, has caused furthered divisions, adding that the amendments are not required under the Supreme Court’s 1 September ruling which nullified President Uhuru Kenyatta’s election.
  • Ethiopia to repair four of nine world heritages

    ETHIOPIA, 2017/10/17 Ethiopia said it is going to repair four of the nine world heritage this year, according to the Authority for Conservation of Cultural Heritage.The Rock-Hewn Churches of Lalibela, Obelisk of Axum, Fasil Ghibi, and Tiya Prehistoric Sites are the heritages that are going to be renovated staring from this year, Hailu Zeledke, Director of Heritage Conservation at the Authority told journalists on Saturday. These heritages have been vulnerable to some level of damage due to old age and seasonal variation. According to director, the maintenance work for the rock-hewn churches of Lalibela, which consist 11 medieval monolithic cave churches; and the Axum obelisk, the ruins of the ancient city of Aksum, will be started this year.
  • World Teacher’s day: Gov’t urged to improve teachers’ productivity

    BOTSWANA, 2017/10/16 Cameroonian teachers nationwide have exhorted the Cameroonian government to empower teachers with the requisite tools to be able to deliver their best in the present fast-paced world. While commemorating the 23rd edition of world teacher’s day today, the teachers noted that the theme for this year’s celebration, “Teaching in Freedom, Empowering Teachers,” reaffirms that peace and security are needed for the development of any country.
  • Africa's Economic Future Depends on Its Farms

    BOTSWANA, 2017/10/16 At the same time as the economies of Nigeria and South Africa recently rebounded, it wasn't oil or minerals that did the trick. It was agriculture. Faster and additional sustainable agricultural increase is crucial not only to the continent's economy, but as well to its ability to feed and employ its surging people. Agriculture still accounts for a quarter of gross domestic product and as much as two-thirds of employment in sub-Saharan Africa. In fact, agricultural increase has the biggest impact on non-farm gain and reducing poverty.
  • South Africa: Intra-African investments key for economic growth-Zuma

    SOUTH AFRICA, 2017/10/16 Visiting South African President Jacob Zuma, who ended his national visit to Zambia on Friday, has said that intra-African investments were critical to Africa’s next economic increase, and his country was ready to contribute meaningfully to increase the levels of investments while growing intra-Africa trade.Addressing the Zambia-South Africa Business Forum held in Lusaka in Zambia themed “Towards Increased Trade and Investment Cooperation,” Zuma said his government in 2016, through the Ministry of Trade and Industry, created Trade Invest Africa which, part others, establishes sourcing linkages with African trading partners as its contribution to facilitating the imports of African price-added manufactured products into South Africa.