Author: Francis Mwema

The Coronavirus (COVID-19) pandemic is currently causing a significant adverse impact on the global economy occasioned by countries imposing measures to mitigate increasing cases and also sanctioning countries with more cases.

Governments around the world are implementing various fiscal measures to mitigate the adverse effect and provide relief for businesses and households. Across the Eastern African region, the impacts of COVID-19 are being felt in different ways and the measures taken by the respective governments have also differed on the areas of focus and comprehensiveness.

The third wave of coronavirus in Kenya saw President Uhuru Kenyatta issued a couple of measures restricting movement by locking the Capital city Nairobi and Neighboring counties as a one zoned area.

Also Read: Tanzanian Ambassadors Urged to Explore Markets for Tanzanian Products

Kenya’s decision to halt the movement of interstate buses across its border following a surge in Covid-19 cases has left many business …

The new Tanzanian administration under President Samia Suluhu Hassan is leaving nothing to chance just weeks after taking an oath of office, every department is working around the clock not to cross heads with the president who suspended the Director of the country’s port authority over massive embezzlement of public funds.

The ministry of foreign affairs has asked all ambassadors representing the country abroad to explore markets for the Tanzanian products in their respective countries even as it urged them to plan and seek opportunities that will enable various Tanzanian products to secure reliable markets.

Also Read: Zimbabwe Discovers Prospects of Oil and gas in Muzarabani

Prof Palamagamba Kabudi, the Minister of Foreign Affairs and East African Cooperation issued this directive, when talking to ambassadors representing Tanzania abroad.

Reiterating on the ruling party’s {CCM} manifesto Kabudi said that there was a need to clearly articulate the economic diplomacy, as well …

Zimbabwean government is excited after a potential prospect of Oil and Gas was discovered in Muzarabani area. President Mnangagwa says once exploited it will make the nation energy self-sufficient, create employment, empower the growth of the economy and enable huge downstream benefits.

According to the president Oil and Gas industry represents huge, unique and competitive investment opportunities given the significant potential for value chain linkages.

“the prospect of oil discovery is exciting”, which will inevitably positively impact local communities and the national economy at large.”

“The project will undoubtedly impact the GDP of Mashonaland Central Province as well as Muzarabani and surrounding districts,” he said.

The President was Speaking this at State house where he was a guest of honor during the signing of the petroleum exploration development and production agreement (PEDPA) between the Government and Australian oil and gas exploration firm, Invictus Energy.

Also Read: Total suspends Operation In …

Unrelenting Conflict outbreak in Mozambique is threatening billions of dollars’ worth of energy projects, this is after a Dozens of people were reported killed in a raid that is suspected to have been carried by Islamist Militants in one of the Africa’s poorest nation.

The fighting was also reported early Monday morning, with Foreign companies suspending its operations triggered by the violence that began on march 20. According to the government sources the armed attackers assaulted the northern coastal town of Palma, close to a $20 billion liquefied natural gas project being developed by France’s Total SE, prompting the suspension of its operation on weekend.

ALSO READ: Bean Farmers Reap Big Benefits In Rwanda

The attack is the latest in a series of incidents that are undermining the southern African country’s hopes of developing some of the continent’s biggest private investment projects. As much as $120 billion of investments by …

Beans are one of the most important crops in Rwanda with approximately 62 percent of One Acre Fund farmers growing climbing beans in 2014, and 49 percent grew bush beans, with a total average of 0.1 hectares under beans for those who cultivated.

In Rwanda, smallholder farmers are testing ways to transition from subsistence-oriented approaches to more market-based production. A pilot has demonstrated potential to significantly increase their production, as well as profits.

Presently beans, With a per capita consumption of more than 150g per person per day, beans are the most consumed and important source of protein and essential micro-nutrients in Rwanda.

With Rwanda’s Eastern Province prone to climate risks for bean production due to long dry spells, increasing temperatures, and erratic rainfall that lead to frequent crop failure and food shortages, the

Alliance of Biodiversity International and CIAT, in collaboration with Global Affairs Canada, has been at …

Nigerian President Muhammadu Buhari has virtually launched “The Decade of Gas in Nigeria Initiative” pledging that his government will fully utilize gas resources in the country to lift the economy high as well as enhance industrialization.

During the unveiling of The Decade of Gas in Nigeria initiative in Abuja on Monday, Mr Buhari said the country’s capacity to produce about 600 trillion cubic feet of gas and the rising demand for cleaner energy sources were capable to help the nation achieve its economic diversification goal.

 ‘‘The rising global demand for cleaner energy sources has offered Nigeria an opportunity to exploit gas resources for the good of the country. We intend to seize this opportunity,’’ the President said at the virtual Nigeria International Petroleum Summit (NIPS) 2021 Pre-Summit Conference and official launch of the Decade of Gas.

ALSO READ: Chinese Quarry Shut Down For Violating Environmental Regulations In Zambia

Buhari …

The Nigerian National Petroleum Corporation (NNPC) has recorded an increase of 80.12% in trading surplus in a month. This increase was recorded between the month of December 2020 and November 2020 which stood at 63,532,499.89 USD and 35,272,487.54 USD surplus respectively.

According to the Group General Manager, Group Public Affairs Division of the Corporation, Dr. Kennie Obateru this increase was captured in the month of December 2020 edition of the NNPC Monthly Financial and Operations Report [MFOR]

The trading surplus figure is usually derived after deducting the expenditure profile from the revenue in the period under review. It is also known as the trading deficit.

The report also shows an increment of the operating revenue of the NNPC Group in December 2020 by 33.44% or 359,816.14USD as compared to November 2020 to stand at 1,435,718,936.08USD

Similarly, expenditure for the month increased by 27.54% or 296,283,642.51USD to stand at …

It is no brainer that many foreign countries have been eyeing Africa for trade and investments purposes. Africa is known of its rich mineral land and unexploited resources that mother countries have lacked required capital and technical skills to do it themselves from oil, diamonds, gold not to mention all the agricultural products such as coffee, tea, cocoa etc.

United States of America, one among the biggest ranked economies in the world has had interests in doing business in Africa since time immemorial, at the time when Vice President Richard Nixon after winding his trip in Africa recommended to then  President Dwight Eisenhower of the greater potential of drawing attention in Investing in Africa and so has been that not with U.S.A but the likes of China, United Kingdom, and other countries such as Japan as had their good sharable investment steps in doing business in the continent.

The Obama …

Shareholders at Dangote Cement Plc have all reasons to smile after the Company proposed a dividend payment of N16 per share on Tuesday when releasing its audit report for the financial year that ended on December 31, 2020.

Dangote Cement company said this in its audited financial reports released by the Nigerian Stock Exchange (NSE) on Tuesday.

The audit report shows that, Over the sum of N50 billion recorded in the year 2019 the company will pay a tax charge of N97 billion during the period in review.

Dangote Cement’s Nigerian operations during the period sold 15.9Mt for the full year 2020, compared with 14.1Mt in 2019.

This sales are inclusive of both cement and clinker sales, which implies a 12.9 per cent growth for the full year 2020. Looking at the domestic sales alone, Nigerian operations sold 15.6Mt, up by 14.3 per cent year on year and resulting in …

The operations of Tianyu Mining Zambia Limited has been brought to a halt by Chilanga District Task Force (DTF) who have agreed to shut down their operations for what the task force says the mining company failed to comply with set regulations by the Zambia Environmental Management Agency (ZEMA) on air pollution.

Richard Ndazye the DTF Chairperson castigated the management of Tianyu Mining Company for the openly ignoring to observe regulations set by ZEMA saying that such behaviors of constantly polluting the air with dust at the expense of locals will not be tolerated.

He said the company was supposed to engage the residents at Arduin farms and surrounding areas on the best possible way of ensuring that the dust arising from heavy duty vehicles is controlled.

“If you as a company do nothing on the air pollution happening in the area the cost of living for the people here …