East and West Africa News Round Up
EAST AFRICA
TANZANIA — Tanzania will provide grants to the small scale miners’ phase III that aims in developing small-scale mining activities in the country by September this year.(BUSIWEEK) READ MORE
RWANDA — Remarkable Rwanda is quickly climbing the ladder of popular Meetings Incentives Conferences and Events (MICE) destinations in Africa. Rwanda Convention Bureau (RCB) announced today that Rwanda is now ranked 7th in Africa according to the International Congress and Convention Association (ICCA) 2015 report. (BUSIWEEK) READ MORE
KENYA- An American consulting firm that was hired to conduct a forensic audit into the collapse of Imperial Bank may have earned more than Sh1 billion so far, according to leaked contract documents showing the professional charges agreed for the service. (BUSINESS DAILY AFRICA) READ MORE
KENYA- Kenya’s shilling held steady on Tuesday but off this month’s highs, after the central bank cut its benchmark lending rate by a percentage point to10.50 percent on Monday, the first cut since hiking rates in August. (REUTERS) READ MORE
KENYA- About 280,000 Kenyan youth will benefit from a Sh15 billion grant by the World Bank to support an internship programme.(STANDARD MEDIA) READ MORE
UGANDA — The Ugandan shilling weakened on Monday as commercial banks bought dollars to build up their positions in the face of sluggish inflows. (REUTERS) READ MORE
WEST AFRICA
NIGERIA- The Central Bank of Nigeria (CBN) sold $142,646,892.01 to 15 commercial banks and three merchant banks last week, as it sought to meet the huge demand for foreign exchange (forex) in the economy. (BUSINESS NEWS) READ MORE
CAMEROON — Cameroon cocoa prices rose across all regions in May, ending months of price stagnation as increased investment began to pay off, producers said. (REUTERS) READ MORE
GHANA- Elizabeth Ofosu-Agyare, the Minister of Tourism, Culture and Creative Arts, says Ghana is ready to partner United Nations World Tourism Organisation (UNWTO’s) Themis Foundation to help build capacity for practitioners in the tourism industry. (GHANA WEB) READ MORE
NIGERIA- A group of investors from China on Monday in Abuja, expressed investment interest in energy, railway and communication sectors of Nigeria’s economy. (SUN NEWS ONLINE) READ MORE
NIGERIA- Despite the appalling real GDP growth rate of -0.36 per cent recorded in the first quarter of this year, the African Development Bank (AfDB) has projected a real GDP growth rate of 3.8 per cent for Nigeria by the end of the year and even painted a brighter outlook for the country in 2017 with a projection of a real GDP growth rate of five per cent. (THIS DAY LIVE) READ MORE
