Sport betting has been banned in Uganda after President Yoweri Museveni claimed the sports activity diverted the youth from doing real work. Mr. David Bahati, Minister of State for Finance in charge of planning also announced current operating betting companies will have their licenses cancelled. “We have received a directive...
East Africa will grow faster than any other region on the continent in 2019, according to African Development Bank (AfDB). According to the AfDB in its African Economic Outlook 2019 report, the East African region is projected to grow at an average of 5.9 per cent in 2019 and...
North African giants, Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, the petroleum minister said. “We are trying to secure crude oil supplies for Egyptian refineries to increase local production of...
Global vehicle manufacturer Mercedes-Benz looks forward to resuming production in Egypt soon, a senior official of the company has said. The company also considers additional models in Egypt, Markus Schafer, Member of the Divisional Board of Mercedes-Benz Cars, told Egyptian Prime Minister Mostafa Madbouli, who is visiting Berlin. Madbouli said that...
Global outsourcing and technology services specialist for governments VFS Global has commenced operations with its first Passport Application Centre in the capital city of Accra on behalf of the Ministry of Foreign Affairs and Regional Integration in Ghana. Passport Application Centers offer a number of benefits which include better accessibility...
Africa's general economic performance continues to recover and GDP growth is projected to accelerate to 4.0 percent in 2019 and 4.1 percent in 2020. But improved macroeconomic and employment outcomes require industry to lead growth, according to the 2019 African Economic Outlook report, launched by the African Development Bank. Published annually...
Africa’s foremost development finance institute,AfDB, has predicted a 4% economic growth in 2019. The African Development Bank launched its African Economic Outlook for 2019 in Abidjan, and it estimates that average real GDP growth for the continent is expected at 4 per cent this year. The AfDB also stated...
Five ports were reopened in Egypt on Thursday after it had shut due to bad weather as conditions improved and winds stabilized, the Red Sea Ports Authority said. Several Egyptian port cities and the capital Cairo were hit by a severe sandstorm on Wednesday, which prompted the closure of...
According to a poll conducted by the London-based news agency, Reuters, Sub-Saharan economies will cope with tighter global liquidity this year and grow faster than in 2018, albeit at a lackluster rate compared to the commodity price boom heydays of a decade ago. As interest rates tighten in developed...
The Governor of the Bank of Mozambique (GBM), Rogério Zandamela, received a delegation from the Monetary Authority of Macau (AMCM), Banco Nacional Ultramarino (BNU), Portugal, and Bank of China (BOC), with the aim to deepen relations between the banks. In his speech, AMCM's executive director, Vong Sin Man, highlighted the...