East and West Africa News Roundup
EAST AFRICA
RWANDA- All is set for Rwanda to host the African Unit Summit scheduled for July 10 -18 in Kigali, Foreign Affairs minister Louise Mushikiwabo has said. (ALL AFRICA) READ MORE
TANZANIA- The government of the United States has announced that it will pump 2.650 trillion/- (1.21 billion US dollars) to Tanzania, just two months after its foreign aid agency — Millennium Challenge Corporation (MCC), pulled 472 million USD (nearly 1tri/-) of funding in protest over alleged suppression of democratic rights. (ALL AFRICA) READ MORE
KENYA- Imperial Bank directors have claimed that senior Central Bank of Kenya (CBK) officials who were complicit in fraudulent transactions that led to the collapse of the lender are now an obstacle to its re-structuring and revival.(BUSINESS DAILY AFRICA) READ MORE
KENYA- Jamii Bora Bank’s management has told shareholders that they were duped into buying Uchumi Supermarket shares. (BUSINESS DAILY AFRICA) READ MORE
TANZANIA- Bank M of Tanzania, set to enter the Kenyan market this month, is seeking to list at the Dar es Salaam Securities Exchange (DSE) by end-year and later cross-list at the Nairobi Securities Exchange. (BUSAINESS DAILY AFRICA) READ MORE
RWANDA- Bank of Kigali (BK) has scooped the Best Bank in Rwanda accolade in the 2016 Banker Africa Awards for the East Africa region. The Awards are organised annually by the CPI Financial publication, which publishes the Banker Africa Magazine, widely regarded as the ‘voice of Africa’s banking elite’ for its in-depth coverage of the continent’s banking sector. (ALL AFRICA) READ MORE
UGANDA — The Ugandan shilling posted gains on Tuesday as a slump in corporate appetite for hard currency and a globally weak greenback forced commercial banks to roll back their positions. (REUTERS) READ MORE
WEST AFRICA
GHANA- The 12th West African Mining and Power Conference and Exhibition (WAMPOC/WAMPEX 2016) has ended with participants generally highlighting the need to adopt new mining technologies. (MY JOY ONLINE) READ MORE
WEST AFRICA — Turnover on West Africa’s BRVM bourse more than doubled over the past year, reaching 209.26 billion CFA francs ($362.2 million) in late May, the manager of the stock exchange said. (REUTERS) READ MORE
GHANA — Ghana plans to issue a 10-year syndicated $2 billion bond before year end to clear legacy debt among its power utilities, a senior government official said. (REUTERS) READ MORE
GHANA — Ghana’s National Petroleum Corporation (GNPC) sees first oil production at the offshore Sankofa field being developed by Eni and Vitol in the second half of 2017, and initial gas output early the following year, an official said. (REUTERS) READ MORE
NIGERIA- Ibe Kachikwu, minister of state for petroleum resources, says Nigeria’s current crude oil export volume is less than 1.3 million barrels per day (bpd). (THE CABLE.NG) READ MORE
NIGERIA- The Naira, which has come under pressure in recent days, fell to 361 against the United States dollar at the parallel market on Tuesday, as traders and investors continued to await details of the proposed flexible foreign exchange policy from the Central Bank of Nigeria. (PUNCH NG) READ MORE
