News : Industry

Rwanda: Alibaba, Rwanda Launch Electronic Trade Platform

[East African] Alibaba founder Jack Ma signed three agreements with the Rwandan government to create an online platform for exporters to China, as well as facilitate tourism and e-commerce. (AllAfrica)

Africa: Safaricom Rides On Its M-Pesa to U.S.$315 Million Profit

[East African] Mobile service operator Safaricom has reported a net profit of Ksh31.5 billion ($315 million) for the half year ending September 30, 2018, lifted by revenue from its mobile money segment, M-Pesa. (AllAfrica)

East Africa: Microsoft Sponsors the Forthcoming CIO100 Symposium and Awards

[CIO] Microsoft having partnered with CIO East Africa to host the East Africa CIO 100 Symposium & Awards slated on 29th - 30th November at Enashipai resort in Naivasha, Kenya 2018 is lined to launch an Artificial Intelligence for Africa: titled: An Opportunity for Growth, Development, and Democratization. (AllAfrica)

South Africa: Explainer - Lessons From the Collapse of a Small South African Bank

[The Conversation Africa] The South African Reserve Bank placed VBS, a small mutual bank, under curatorship in March this year against a backdrop of a serious liquidity crisis. The initial findings of the curator revealed significant financial losses, which prompted a decision to institute a forensic investigation. This was completed by early October and handed over to the banking regulator, the Prudential Authority. The report revealed widespread looting and subsequent cover-ups. The report was handed over to the country's law enf (AllAfrica)

Africa: OPIC Backs African Cellular Communications Company with U.S.$100 Million Loan

[OPIC] Johannesburg -The Overseas Private Investment Corporation (OPIC), the U.S. Government's development finance institution, and Africell Holdings Limited today signed a commitment letter for $100 million to expand access to telecommunications in Africa. The project is expected to have a highly developmental impact particularly in Uganda and the Democratic Republic of the Congo by expanding the availability and quality of affordable mobile telephone and internet services in these countries. OPIC Managing Director for (AllAfrica)

Zimbabwe: KFC Resumes Operations

[263Chat] Popular fast food outlet Kentucky Fried Chicken (KFC) has re-opened its local restaurants in Zimbabwe, temporarily shut down in September when RTGS value against the United States dollars soared to over 500 percent resulting in panic buying. (AllAfrica)

South Africa: SABC Employees Stage Pickets, Want New Funding Model to Save Jobs

[News24Wire] In an attempt to save their jobs, SABC employees are expected to wear black and hold a lunch-hour picket on Friday. (AllAfrica)

Zimbabwe: Beverage Company to Ration Beer Supplies to Counter Hoarding

[263Chat] Leading beer and soft drinks manufacturer, Delta Beverages is set to ration beer supply to licensed retailers through the introduction of a pre-order system to guard against hoarding and panic buying. (AllAfrica)

Zimbabwe: Invictus Still Exploring for Muzarabani Gas, Oil

[Zimbabwe Independent] Following recent media reports that Australian Stock Exchange (ASE)-listed firm Invictus Energy had discovered vast oil and gas deposits in Muzarabani in the Zambezi basin, Zimbabwe Independent (ZI) reporters Tinashe Kairiza and Nyasha Chingono this week spoke to the firm's chief executive Scott McMillan (SM) on the need for exploration to prove the quantum and commercial viability of the resource. Find below interview excerpts: (AllAfrica)

Namibia: Competition Commission's Puma Raid Unlawful

[Namibian] A DAWN raid in September 2016 on Puma Energy Namibia by the Namibian Competition Commission was declared unlawful by the High Court on Friday. (AllAfrica)

Kenya: Naivas Supermarket Launches a Christmas Season Campaign

[Capital FM] Nairobi -Naivas Supermarket has launched a Christmas season campaign that seeks to reward customers for shopping with the retailer over the next 10 weeks. (AllAfrica)

Angola: Oil Firm Pledges Permanent Investment

[ANGOP] Luanda -The multinational oil company ENI will continue to invest in Angola where it has recorded an increase in production of 50,000 barrels/day in the last 12 months. (AllAfrica)

Namibia: Telecom Defends Executive 'Bonuses'

[Namibian] TELECOM Namibia's chief executive, Theo Klein, defended the parastatal's decision to pay over N$2 million to seven executives, despite concerns by the board that the entity was not supposed to make such payments because of its financial problems. (AllAfrica)

Zimbabwe: Typocrafters Commissions U.S.$1 Million Plant

[The Herald] The country's leading integrated media group, Zimpapers, yesterday re-opened Typocrafters and commissioned a $1 million exercise book making machine as part of efforts to contribute to the revival of industries and create employment. (AllAfrica)

Zimbabwe: Gwanda Solar Plant Dispute Rages On

[The Herald] INTRATREK Zimbabwe, which is entangled in contractual dispute with Zimbabwe Power Company (ZPC) over the Gwanda solar plant, has filed submissions to the High Court seeking an order compelling ZPC to allow it to fulfil terms of the project agreement or be paid $25 million damages for breach of contract. (AllAfrica)

Zimbabwe: When Second Oil Discovery Risks Becoming a Cheap Stunt

[Zimbabwe Independent] There was widespread celebration across the country last week after it was announced that we had discovered oil somewhere in rural Muzarabani. (AllAfrica)

Nigeria: Dangote Moves to Acquire Kenya Cement Firm

[Vanguard] Dangote Cement Plc, Africa's biggest producer of cement, has expressed interest in acquiring Kenyan rival, ARM Cement Ltd, Bloomberg said it gathered from people knowledgeable about the development yesterday. (AllAfrica)

Kenya: Angama Mara Lodge Ranked Best in Africa and the Middle East

[Nation] Kenya's Safari Lodge Angama Mara has been ranked the best lodge in Africa and Middle East by the Conde Nast Traveler Magazine. (AllAfrica)

Rwanda: Kenolkobil Acquires 10 Service Stations in Rwanda

[New Times] KenolKobil Ltd, an oil marketing company based in Kenya, has acquired 33 service stations operated by Delta Petroleum in Rwanda and Uganda, the company announced on Wednesday. (AllAfrica)

Kenya: Debra Mallowah to Head Safaricom's Business and Innovation Division

[Capital FM] Nairobi -Safaricom Chief Executive Officer Bob Collymore has announced the appointment of Debra Mallowah to the new position of Chief Business Development Officer. (AllAfrica)

Nigeria: Dangote Takes Blockmaster Cement to Edo, Delta States

[Guardian] Dangote Cement Company has launched its new Portland limestone product, known as BlocMaster, a 42.5R grade cement designed for block moulding and all concrete needs in Edo and Delta State respectively. (AllAfrica)

Zimbabwe: Chivayo Allegedly Squandered U.S.$5 Million Solar Project Cash

[New Zimbabwe] Details emerged before a Harare court Wednesday on how controversial businessman Wicknell Chivayo allegedly squandered a US$5m advance payment by the Zimbabwe Power Company (ZPC). (AllAfrica)

Malawi: Standard Bank Malawi Takes Back Kubwalo-Chaika - K1.3bn Payout Package Scares Bank

[Nyasa Times] Standard Bank Malawi has swallowed its pride and took back in employment fired Head of Personal and Business Banking Margaret Kubwalo-Chaika after being scared by her demand for a whopping K1.3 billion payout package. (AllAfrica)

Zimbabwe: Draw-Down From U.S.$250 Million Facility Begins

[The Herald] Zimbabwe will -- with effect from today -- start drawing down on a $250 million line of credit facility from a United Kingdom-based firm, Gemcorp Capital, an international independent investment fund management entity that focuses on emerging markets, to import essential commodities. (AllAfrica)

Nigeria: Air Peace Resumes Flight to Kaduna

[This Day] Air Peace on Monday resumed its Kaduna flight services. The airline also pledged to maintain its standard on safety and comfort of its passengers. (AllAfrica)

Nigeria: 'Retail Business Has Huge Potential in Nigeria'

[Guardian] Chief Executive Officer, Hubmart Stores Limited, Murat Bektaslar, has said confidence is gradually returning in the economy after exiting recession that enveloped the country in 2016, and part of 2017, which slowed consumer purchasing power. (AllAfrica)

East Africa: Scania Unveils New Trucks

[Capital FM] Nairobi -Scania East Africa has launched its new truck generation becoming the second market in Africa to roll out the new truck range. (AllAfrica)

Namibia: Govt 'Didn't Know' It Owned Namib Desert Diamonds

[Namibian] Mines minister Tom Alweendo said the government did not know that Namib Desert Diamonds (Namdia) was a state-owned company, an admission that adds to the suspicions about the formation of the secretive gems company. (AllAfrica)

Zimbabwe: Govt Dithers On Economic Breakthrough Offer

[CAJ News] Johannesburg -Zimbabweans outside the country have urged the government to accept an offer from a South African-based company to help resolve shortages of some basic commodities in the economically-struggling country. (AllAfrica)

Malawi: Farmers Warned Against Using Fake Seeds

[Malawi News Agency] Lilongwe -Seed Trade Association of Malawi (STAM) has warned farmers in the country against the use of fake seeds arguing that they are low yielding and contribute to food insufficiency. (AllAfrica)

Kenya:Uchumi Appoints New Interim Chairman

[Capital FM] Kenya -Uchumi Supermarket has appointed John Karani as an Interim Chairman of the Board. (AllAfrica)