Business

News : Business

As President Jakaya Mrisho Kikwete of Tanzania was about to leave Dar es Salaam on November 15 to attend the World Food Summit in Rome, he sat down at State House to discuss a range of issues with AllAfrica. One of them was food security. (AllAfrica)

The Democratic Republic of Congo and Sudan could be the next two states to become members of the East African Community, EAC's secretariat in Arusha has revealed. (AllAfrica)

British oil explorer Heritage Oil will sell its fields in Uganda to Italian oil group Eni SpA for between $1.3b and $1.5b, the London-based Sunday Times said yesterday. (AllAfrica)

The East African Community officially ushered in a common market on Friday amid renewed commitment by the region's Heads of State to expedite the envisaged political federation by 2015. (AllAfrica)

SABMILLER 's two main competitors in Nigeria, Guinness and Heineken, make nearly as much in that market as SA's brewing giant makes in 24 other African countries, excluding SA. (AllAfrica)

President Umaru Yar'Adua has summoned the Senate President and Speaker of the House of Representatives - David Mark and Oladimeji Bankole - over the 2010 budget presentation row which has pitched the two legislative chambers against each other. (AllAfrica)

General Farah Ahmed Omar alias General Farah Qare, the Commander of the Somali Coat Guard has expressed hopelessness against pirates. (AllAfrica)

A year ago, President Kibaki accented to the Anti Counterfeits Act as Kenya's manufacturing sector buckled under the weight of fake and cheaply priced goods, especially from Asia. (AllAfrica)

Kenya is yet to recover from the negative effects of the financial crisis that affected most world economies this year. (AllAfrica)

Cabinet ministers who approved the allocation of Shs13.9 billion to construct a road and parking areas on private property ahead of the 2007 Commonwealth Heads of Government Meeting (Chogm) in Kampala must refund it, the Public Accounts Committee (Pac) ruled last week. (AllAfrica)

UK explorer Heritage Oil has confirmed that it agreed to sell its Ugandan interests to Italy's Eni for up to $1.5 billion as the Italian oil major builds its presence in Africa through acquisitions. (AllAfrica)

The government of Rwanda has signed a pact that will see US and UK based companies initiate a US$250 million project to produce bio-fuel in the country. (AllAfrica)

Tanzania could become the biggest gold producing country in Africa following new discoveries of gold in the most unlikely areas of Lindi and Nachingwea districts in the south of the country. (AllAfrica)

Its exactly 10 years since the East African Community(EAC) was revived. Last Friday all roads led to Arusha for the anniversary and Summit. (AllAfrica)

The images of past and current Kenyan heads of state could soon fade from local currency if the newly unveiled draft constitution sails through. (AllAfrica)

Presidents of member states of East African Community on Friday signed the Common Market Protocol paving way for free movement of goods, labour and services in the region. (AllAfrica)

In 2008 Uganda saw total milk production in the country grow from 365 million litres to 1.5 billion litres per year, the Diary Development Authority (DDA) has said. (AllAfrica)

City commuters in Kigali will continue facing transport problems unless government waives taxes on passenger service vehicles, an investor in the sector has warned. The investor reasons that waving import duty on buses, coasters and minibuses will attract more investors in the transport sector thereby reducing costs of doing business in the region. (AllAfrica)

Ambassador Kabral Blay-Amihere, former Ghana Ambassador to La Cote d'Ivoire, has cautioned that oil flow may well fuel corruption to disturbing levels. (AllAfrica)

The East African Business Council (EABC) has congratulated the region's heads of state on signing the common market protocol. (AllAfrica)

The deaths of four people at a small-scale gold mine in Tarime District points to a worrying trend that is becoming all too familiar. (AllAfrica)

A report on the nature of convergence of Nigeria's financial reporting to the International Financial Reporting Standards (IFRS) will be released next month, Executive Secretary and Chief Executive of the Nigerian Accounting Standards Board (NASB), Mr Godson Nnadi, has said. (AllAfrica)

When bankers steal it is sad. When bankers steal, the whole concept of banking becomes meaningless. The 2008 Annual Report of the Nigeria Deposit Insurance Corporation (NDIC) has revealed that 313 bank staff of various categories stole a staggering N53 billion in the year 2008. (AllAfrica)

The steady shift from equities to fixed debt instruments as the main form of raising capital by both public and private entities has exposed the lack of depth in the capital markets when it comes to competently handling bond transactions. (AllAfrica)

A Kigali bound Tanzanian registered bus was on Saturday involved in an accident that instantly killed two Rwandan passengers. (AllAfrica)

UNRELIABLE and interrupted electricity supply has hindered industrial growth, a minister said last week. (AllAfrica)

International Relations and Cooperation Minister Maite Nkoana Mashabane will today depart for Trinidad and Tobago where she will participate in the Commonwealth Heads of Government (CHOGM). (AllAfrica)

THE five East African Community Heads of State on Friday signed the Common Market Protocol, which allows free movement of people, goods and capital across the member states. The protocol becomes effective on July 1, 2010 after ratification by member countries. (AllAfrica)

South Africa-based Elgin Engineering and the state-owned Tanzania State Mining Corporation (Stamico) are jointly constructing a $20 million mining equipment manufacturing facility. (AllAfrica)

An ambitious investment programme by the Kenya Electricity Generating Company could, in less than five years, end the East African powerhouse's reliance on expensive fossil-fuel based power from independent power producers. (AllAfrica)

Heads of State of the five East African Community partners yesterday signed the protocol on the establishment of the East African Common Market. (AllAfrica)