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  • BARCLAYS Bank Zambia Plc has investedto support 230,000 Zambians

    ZAMBIA, 2014/03/13 BARCLAYS Bank Zambia Plc has invested additional than K17 million to support 230,000 Zambians, with a target of reaching 30,000 young people throughout the country. Barclays Bank Zambia managing director Saviour Chibiya said the bank had invested the money in communities from 2012 -2015 to support young Zambians. Mr Chibiya said the bank would continue to play a vital role in uplifting the lives of the people in the communities through skills development. Speaking during the Barclays community investment celebratory event in Lusaka yesterday, Mr Chibiya said the bank was running a number of programmes that were helping disadvantaged young people in the communities.

  • Oil and gas major BP said it had mothballed plans to explore in Libya's

    LIBYA, 2014/03/08 Oil and gas major BP said it had mothballed plans to explore in Libya's Ghadames basin because of security concerns, the new in a series of companies to rethink their projects amid growing instability. Three years of turmoil since the Arab Spring and tough arrangement terms have prompted oil firms to reassess their role in Libya, and several have said they would postpone their plans or scrap them all. BP's exploration and production sharing agreement with Libya covers onshore acreage in Ghadames, near the border between Libya, Algeria and Tunisia, and offshore acreage in the central Sirte basin. 'With respect to the onshore exploration drilling programme, a security review in June concluded that this could not be safely and securely delivered by BP at this time. Alternative approaches are being considered,' BP said in its annual statement.

  • Kenya Airways (KQ) will withdraw from the Eldoret route

    KENYA, 2014/03/06 Kenya Airways (KQ) yesterday formally notified travel agents, booked passengers and the public at large that they will withdraw from the Eldoret route and that flights, come April 1, will be operated low cost subsidiary Jambojet. This is the initial confirmation of its kind, following weeks of speculation at the same time as aviation pundits predicted that the entry of Jambojet into the domestic Kenyan aviation market will reshuffle the deck of cards and lead to Kenya Airways “making space” on the routes Jambojet will fly to, namely Mombasa, Kisumu and Eldoret. Beginning April 1, Jambojet will fly five times a day between Nairobi and Mombasa and there, too, is a capacity reduction by Kenya Airways on the drawing board, though it still has to be formally confirmed how a lot of frequencies KQ will yield to its subsidiary, the same applying to Kisumu too.

  • Nigerian shareholdersdisrupted the Ecobank Group extraordinary general conference (EGM)

    TOGO, 2014/03/05 A group of Nigerian shareholders on Monday disrupted the Ecobank Group extraordinary general conference (EGM) at its headquarters in the Togolese capital, Lome, demanding reforms in the government of the bank. PANA reports that about 100 Nigerian shareholders in the conference room, carried placards referring to the departure of the Group's general manager, Ivorian Thierry Tanoh, who assumed business only in June 2013, following the departure of his predecessor, Arnold Ekpe, and the president of the Board of Directors, the Kolapo Lawson of Nigeria.

  • The Kuwaiti telecoms operator faces uphill battle

    KUWAIT, 2014/03/03 The Kuwaiti telecoms operator faces uphill battle as currency fluctuation and political turmoil hamper Sudan and its southern neighbour. The Kuwaiti telecoms operator Zain operates in some tough markets, where hopes of bright new dawns have given way to cloudier realities. In Iraq, violence reached its highest level in five years in 2013 - with fears of sectarian clashes ahead of parliamentary elections due in April. Zain is still “months off” from its planned listing there, and has been fined $11.3m for the delay.

  • SAA Operates New Aircraft to London

    SOUTH AFRICA, 2014/02/23 THE South African Airways next month begin operating a newer aircraft, the Airbus A330-200, on scheduled flights between London and Johannesburg. The service starts on March 28. Gary Kershaw, General Manager of SAA expressed delight ahead of the launch. “We have listened to feedback from our corporate customers and Voyager members around the aspects of their journey that are significant to them.

  • British Airways Uganda and the Corporate League

    UNITED KINGDOM, 2014/02/13 British Airways Uganda and the Corporate League, a football league for Ugandan teams, have joined hands to raise funds for local charities through a season opening mini tournament which according to a media release just received will become an annual event. The Kyandondo Rugby Club will be the venue on the 23rd of February for the initial such event, and proceeds have been committed to a number of charitable causes in line with the BA / Comic Relief partnership ‘Flying Start’. Each participating team will bring a million Uganda Shillings to the fund, and several have by presently committed to play in the tournament, inclunding Civicon, G4S, AAR, DFCU Bank and SSL Logistics, giving the fundraiser a 5 million shillings headstart.

  • Ethiopian pondering next move on single and twin aisle aircraft orders

    ETHIOPIA, 2014/02/08 Additional B787 Dreamliners, if only they could get them, a keen interest in Boeing’s new bird, the B777X and up to 20 single aisle orders within a few months, the message could not have been clearer by Ethiopian Airlines that the carrier is intent to defend their continental top spot and make sure they retain it for years approaching. Tewolde Gebremariam, ET’s Chief Executive, was quoted by a source in Addis Ababa, to have let the cat out of the bag yesterday at the same time as he confirmed that the airline was in the final stages to lease at least three additional B787 Dreamliners, and would buy additional if only Boeing could produce enough of these aircraft, of which presently over 150 are by presently delivered and crisscross the globe each day.

  • Nigeria's National Oil Spill Detection and Response Agency (NOSDRA)

    NIGERIA, 2014/02/06 Nigeria's National Oil Spill Detection and Response Agency (NOSDRA) has fined the Nigerian subsidiary of Royal Dutch oil firm Shell US$5 billion for the 2011 Bonga oil spill in the country's oil-producing Niger Delta region, the local media reported Wednesday. The statement said NOSDRA Director General Peter Idabor announced the fine, which was slammed on the Shell Petroleum and Development Company (SPDC). He said the fine would serve as a deterrent to other firms that would treat activities which deplete the environment with levity, adding: 'The kind of impunity Shell and its allies have demonstrated so far in the Niger Delta area in the completed should be addressed if the next and people of Nigeria and the environment are to be protected.”

  • Alcatel-Lucent to upgrade EASSy submarine cable system along eastern

    SOUTH AFRICA, 2014/01/24 World communications firm Alcatel-Lucent is to upgrade the EASSy submarine cable system, one of the major and most modern systems serving Africa, with the deployment of the new 100 gigabit-per-second (Gbit/s) technology, the firm announced Thursday from its Paris-based headquarters. Alcatel-Lucent‘s 100G technology will enable the system to from presently on carry capacity in excess of 10Tbit/s, further complementing its ability to carry high volumes of data capacity on the EASSy system, which runs 10,000km from South Africa to Sudan, in support of the continued explosion of data traffic in Africa. The firm said it would leverage its unmatched experience of deployments around Africa to provide this upgrade within EASSy’s requested timeframe.
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