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Business
East Africa has become a key frontier for economic expansion so as to have a balance of power against the West and as a…
The market share of Tanzania tea is gaining ground globally.…
People have been told for a long time that the…
Central Bank of Kenya data shows that Kenya’s banking sector assets grew by double-digits in…
Stanbic Holdings Plc has announced a profit of KSh 4.8 billion for the half year…
KEMSA said it had invested more than KSh 30 million to facilitate efficient service provision…
Afya Rekod has partnered with Medi-science International Limited to transform healthcare delivery through improved access…
In June 2022, the International Air Transport Association (IATA) revealed that Nigeria had not handed over US$ 450 million owed to different airlines. By July 2022, the money owed to foreign airlines had risen by US$14 million to US$464 million.
The funds were generated from ticket sales but were yet to be remitted, leading to friction between Nigerian authorities and international airlines.
The Nigerian federal government attributed the mess to the foreign exchange crisis as the naira continues to weaken against the dollar. IATA asked the West African country to release the funds’ failure, to which it risks being alienated from air connectivity.
The East African Community (EAC) should boost its transactions under the existing regional and international…
