- Africa’s First Spaceport Set to Position the Continent in the Global Space Race
- Current state of online Forex Trading in Africa
- Lufthansa keen to cement East Africa market with Nairobi base
- Kenya moves to tackle dollar shortage as forex reserves hit 10-year low
- SSA is the fastest growing market for recorded music revenue in 2022
- How the global banking crisis could prove to be good for markets
- Demand for avocados lifts Kenya’s Kakuzi profit to $6.4M
- Tigo, Selcom and Mastercard partner to launch online digital payment solution in Tanzania
As the world grapples with the impact of the global recession caused by the Covid 19 pandemic, the impact of the Russia – Ukraine war, the effects of climate change, and other challenges, terrorists and violent extremists, including Da’esh, Al-Qaida, and their affiliates, continue to intensify their activities on the African continent aggravating an already difficult situation.
The response has been, by and large, heavy on the military. Still, countries are increasingly focusing on prevention with a particular focus on addressing the root causes, such as poverty reduction, strengthening institutional capacity to respond to the needs of their populations, and local reconciliation. One issue, in particular, has captured the attention of many experts working to address the root causes of radicalization, which is impunity. Indeed, the root cause of radicalization, cyclical violence, and the war was a culture of impunity.
Also Read: Peace and Politics: Can Congo achieve economic stability?…
The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and its amendments. While there was an expectation for major changes, the reality is that the new Act is more or less the same as the previous minus a few differences outlined below:
1. The Act is in the Kiswahili language and there is no translation of the same in English.
2. Removal of the automatic immigration quota of 5 work and residence permits for expatriates workers. While previously an investor registered at the TIC would be allowed up to 5 immigration permits and this was typically used for investors’ strategic employees, this incentive is removed which means there is no guarantee for the investor to obtain immigration permits for its strategic employees who will be treated like every other applicant.
3. Local Investors ie Tanzania nationals or companies
The review period has been salient with fresh 52-week low levels hit by some of the listed counters. Centum’s profit–warning announcement (expecting a dip in profit in its earnings by more than 25% on a yearly comparison) at the tail end of 1Q21 triggered a negative momentum on the counter in the subsequent two–month period.
This resulted in the counter touching a fresh low of KES14.40. Standard Group touched a new low of KES15.55 in early May, attributed to the negative knock from its FY20 earnings release. The media company had reported a KES301.6Mn loss during the last calendar year. Limuru Tea also fell to a new low of KES340. That said, activity on this agriculture stock has been thin with only 100 shares (minimum) trading in the review period.
Bamburi Cement recorded a higher-than-expected FY20 EPS (Earnings per Share) of KES2.89. This partly enabled …
According to Wikipedia, regulation means the management of complex systems according to a set of rules and trends. Industry regulations aim at bringing order by laying down a set of rules to be followed by all, rules aimed at harmonizing all the players together without favoring one over the other.
There has been a lot of concern why the insurance industry in Kenya is not growing, and in fact has been declining over the years—a situation that has led the government to come up with a National Draft Policy aimed at filling in the gaps and strengthening the sector. A situational analysis in the draft policy identifies various gaps and challenges the industry faces. These include limited access to insurance, low levels of insurance awareness and financial literacy, poor public perception and lack of trust in the industry, poor management of policies and claims processes, limited products, fraud, low usage …
The business model for airlines has been fundamentally flawed for decades but the last 20 years or so have been particularly challenging.
Growing competitiveness, a roller coaster of fuel prices, labor unions, and especially the phenomenon of low-cost carriers have made it all the more difficult to reach positive earnings pretty much in every route.
With a number of countries sporting continental distances, Africa has been an exciting promise for air carriers, but not without its challenges. Poor infrastructure and the high cost of maintenance and logistics have plagued the development of an effective air grid in the continent. Nevertheless, a great opportunity remains.
At the beginning of the last decade, South African Airways was a dominant force, carrying some 9 million passengers yearly while Kenya Airways and Ethiopian Airlines combined were just shy of 6 million yearly passengers. However, poor management choices combined with borderline irresponsible behavior from …
On 1st of April, as I was publishing my Uniconization of African Fintech piece, Mastercard was busy announcing their $100 million investment into Airtel Money (Airtel Africa’s mobile money subsidiary) to acquire a minority position – half what TPG Capital did. Even though I had gotten wind of the transaction knowing that Mastercard was already in bed with Airtel Money – some part of me thought of it as an April fools joke…. On the 12th of April 2021, Mobile Telecom Network (MTN) announced the valuation of their mobile money business at $5 billion making it the 7th African fintech unicorn with plans to bring in minority shareholders before going public. Given that Visa is already in bed with MPESA (Vodacom and Safaricom’s mobile money business), it is a matter of time before Visa also invests. The unicornization …
Cash in lieu in insurance means where the insurance company exercises the option of giving you cash for repair of your car instead of them having it repaired for you. There are a number of ways an insurance company can settle a motor insurance claim: by having your car repaired, or by giving you compensation in case of total loss or giving you cash for repairs. Insurance companies are technically liable for poor car repairs should you suffer injuries as a result.
Thus for an insurance company to remove themselves from the latter kind of situation they should just be liable for the cost of repairs and not arranging for repairs. That is different in Kenya and elsewhere where insurance companies arrange for the cost of repair in a bid to save a few shillings. An insurance company can opt for …