Author: Albert Nangara

Malaria takes its toll not only in lives lost, but also in medical costs, lost income, and reduced economic output. The annual direct and indirect costs of malaria in Africa are estimated to be more than US$2 billion, according to the WHO.

Partners in Sudan have re-committed to taking action to reduce the preventable impact of malaria on the population and ensure access to quality healthcare services for everyone in South Sudan.

At the conclusion of the three-day event, Vice President of South Sudan Hussein Abdelbagi Akol Agany announced the launch of the “Zero Malaria in South Sudan Starts With Me” campaign to add his voice and commitment towards a Malaria Free South Sudan.…

Eni, as delegated operator of the Coral South project on behalf of its Area 4 Partners (ExxonMobil, CNPC, GALP, KOGAS and ENH), confirmed that the first shipment of liquefied natural gas (LNG) produced from the Coral gas field, in the ultra-deep waters of the Rovuma Basin, departed from Coral Sul Floating Liquefied Natural Gas (FLNG) facility.

“The first shipment of LNG from Coral South project, and from Mozambique, is a new and significant step forward in Eni’s strategy to leverage gas as a source that can contribute in a significant way to Europe’s energy security, also through the increasing diversification of supplies, while also supporting a just and sustainable transition. We will continue to work with our partners to ensure timely valorisation of Mozambique’s vast gas resources,” commented Eni CEO Claudio Descalzi.

As part of its exploration activity offshore Mozambique, Eni discovered Coral South gas field in 2012 and took …

According to Twiga, the transition was made in full compliance with the labour laws. Every impacted employee receives one month’s pay notice, termination pay of 15 days for every year worked, and pay for all outstanding leave days. The impacted employees have also been granted the first right of refusal to transition to the new model.

The company had in October stopped its engagement with expatriates who were offering different services across various departments.

Twiga has also cut its staff per diem for the remaining staff from a high of Sh4, 000 to Sh1, 000 where accommodation has been provided on a single room bed and breakfast basis.

The firm also has limited employees’ travel allowances to those whose work necessitates them to travel for more than 75 per cent of the month.…

There was a strong performance in the bank’s recoveries portfolio, contributing to the overall positive performance of expected credit losses. This led to the loan loss ratio improving to 0.16 per cent from 0.59 per cent for period ended June 30, 2022. Operating costs remain relatively under control at P473 million, growing slightly by only 3 per cent, despite the rising inflation seen in the economy.

The bank in their report also highlighted that this was achieved by leveraging off the digital enablement put in place which brought some efficiencies, as well as various other cost management initiatives effected. Cost to income ratio fell by 4 per cent and ended at 54 per cent for the period under review, resulting in positive income statement jaws of 7 per cent.

Meanwhile, Barclays sold shares in the Group. This was published on the Johannesburg Stock Exchange on September 1, 2022.

Barclays agreed …

The USE Edaala will also facilitate private companies with numerous shareholders benefits from the deficiencies provided by existing trading and depository platforms with shareholders being able to trade their shares should they wish to divest their stock and utilise portfolio management tools.

The application period for the first cohort is expected to close on December 8, after which the USE will conduct an assessment of the applicants for eligibility.

Through the new segment, companies will be able to access long term capital through private placements, access to a wider pool of domestic and international investors, flexible admission and regulatory compliance requirements, among others.

Capital is the main fuel of every business, no matter what size. However, sometimes a business can face monetary constraints and a shortage of funds. In such a scenario, business finance can help power up the enterprise.…

As a high-risk area, Kenya was paying billions to shipping lines for insurance of their goods.

But there is a break. The International Maritime Organisation (IMO) has removed the Indian Ocean from the list of High-Risk Areas (HRA) giving a major boost to trade for Kenya and the wider Eastern African region.

The decision was communicated during the 106th session of the Maritime Safety Committee at the International Maritime Organization in London. This is the UN agency responsible for the safety and security of shipping, by the Best Management Practice (BMP-5). It consists of the five largest global shipping industry associations.

BMP-5 looks to deter piracy and enhance maritime security in the Red Sea, Gulf of Aden, Indian Ocean and Arabian Sea.…

Big cap stocks are far more profitable with ROE’s of 67 per cent compared to 21 per cent for mid cap stocks. Further, their stock market returns are superior to mid-cap stocks.

Nestle Nigeria had the highest on Return on Equity of 215.4 per cent with a share price at 1,215.00 NGN. While, International Breweries had the lowest Return on Equity of a negative 2.5 per cent with a share price at 4.95 NGN as of September 30, 2022.

Nestle Nigeria Plc listed on the Nigerian Stock Exchange is a food manufacturing and marketing company in Nigeria and a subsidiary of the largest food and beverage company in the world. The company produces an extensive range of products for the retail and wholesale sectors.…

Seasonal adjustment is a means of removing the estimated effects of normal seasonal variation from the series so that the effects of other influences on the series can be recognised more clearly. Seasonal adjustment does not aim to remove irregular or non-seasonal influences which may be present in any particular month. According to Stats SA, seasonally adjusted estimates are generated each month using the X-12-ARIMA Seasonal Adjustment Program developed by the United States Census Bureau.

Seasonally adjusted manufacturing production increased by a total of 1.9 per cent in the third quarter of 2022 compared with the second quarter of 2022. Seven of the ten manufacturing divisions recorded positive growth rates over this period.

The largest positive contributions were made by motor vehicles, parts and accessories and other transport equipment division which increased by 21.1 per cent. The food and beverages division increased by 4.0 per cent contributing 0.9 of a …

Seasonally adjusted mining production increased by 2.2 per cent in the third quarter of 2022 compared with the second quarter of 2022. The largest positive contributors were gold with 9.6 per cent; diamonds with 20.4 per cent; coal 3.2 contributing per cent; and manganese ore with 10.2 per cent and contributing 0.7 of a percentage point according to Stats SA.

Mineral sales at current prices increased by 20.7 per cent year-on-year in September 2022. The largest positive contributors were: coal with 63.1 per cent and contributed 14.1 percentage points; gold contributed 122.4 per cent and contributed 10.0 percentage points; ‘other’ metallic minerals 164.0 per cent and contributed 3.1 percentage points; and manganese ore with 33.0 per cent and contributing 1.7 percentage points.

South Africa produces over 250 million tonnes of coal every year. It is estimated that almost 75 per cent of this coal is used domestically. Nearly 80 per …

The company’s performance was mainly affected by several reasons, including the roof collapse in 2021 which halted production and resulted in low revenues.

Another factor is foreign currency exchange losses incurred on the related party borrowing of US $32 million and related party payables. As a result, the company has not been able to generate sufficient cash fl­ows to settle short-term borrowings due to external parties. The decommissioning of cement mill 1 to make way for the commissioning phase of the VCM also adversely affected cement volumes.

Although the decline in revenue is partly attributed to the decommissioning one of the existing cement ball mills to make way for the installation of the new Vertical Cement Mill (VCM). The new VCM which is anticipated to be fully operational by Q4 2022 is expected to revive production and income.

If you are just wondering what a VCM is, cement mills are …