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East Africa: EA Stock Markets Recorded Depressed Performance In 2018 – Report

Advertisements Nairobi — According to the Alpha Investor’s market report, the East African stock markets record on a depressed performance last year (2018). The report compares different performances to variables that include a worldwide wave of emerging-market sell-offs in stocks and currencies and rising US federal reserve interest rates, further enhancing the dollar. In Kenya, the listed companies […]

INCREASE IN MINIMUM WAGE – NIGERIA

Advertisements On Thursday 18th April 2019, a two-third increase in the Nigerian minimum wage was signed into law by President Muhammadu Buhari. This increased raised the minimum wage from 18,000 Naira (N) $50 a month to N30,000 ($83). The president through his senior special assistant Senator Ita Enang said that the new minimum wage is […]

Acacia Hits More Tanzanian Roadblocks as Barrick Bid Looms.

Advertisements Acacia Mining Plc hit another roadblock in Tanzania, they are facing issues with the Tanzania government, two days before a deadline for its parent Barrick Gold Corp. to make an offer to minority shareholders.  Tanzanian National Environment Management Council (“NEMC”) ordered the company’s core gold mine to stop using a waste storage facility at […]

ZIMBABWE PUBLIC WORKER STRIKE ON THE CARDS AFTER PAY OFFER REJECTED

Advertisements INTERNATIONAL – In Zimbabwe’s public sector employees dismissed the government’s recent salary offer as inadequate in the face of rising consumer prices, increasing the probability of in-official strike action on Wednesday. Official statistics released on Monday showed that annual inflation nearly doubled in June to 175.66 percent, piling up pressure on a population struggling […]

Traders Angry with Brokers Working In Mombasa Port

Advertisements Traders from the (DRC) Democratic Republic of Congo using the Mombasa port claim that they are considering moving to Dar es Salaam. They mention frustrations from traders posing as officers of the state freight company Office Congolaise de Gestion du Fret Maritime (Ogefrem), demanding taxes that are not paid. Importers suggest that the brokers posing as […]

Inflation Rate Rises in Tanzania And Uganda, As Kenya’s Business Drops.

Advertisements Annually, the headlines on inflation rates for both Tanzania and Uganda rose in the last month of June while that of Kenya dropped. According to the Tanzania’s National Bureau of Statistics, for past few week’s report indicated that, an inflation rate has increased of 0.2 per cent from 3.5 to 3.7 per cent in […]