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Namibia gets $218 million loan from AfDB

Namibia secured a $218 million loan from the African Development Bank, the second tranche of a quarter billion dollar facility from the Bank. The loan facility will support the budget for the fiscal year 2018/19. The AfDB ’s intervention will support measures to improve revenue collection, enhance efficiency in public spending, and improve debt management. […]

Google’s sister-company to deploy balloon Internet in Kenya

A network of giant balloons will soon bring internet access to remote regions of rural Kenya. Google’s sister-company Alphabet Inc’s Loon on Thursday said it would deploy its system of balloons to beam high-speed Internet access with Telkom Kenya from next year to cover rural and suburban populations. Project Loon has helped to improve internet […]

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Africa must do more to stem brain drain – Barack Obama

Former US President Barack Obama on Wednesday told young African business people and activists at a gathering in Johannesburg that opportunities could be greater in their own countries. Obama, whose Kenyan-born father studied in the United States, advised young Africans to drive change at home rather than emigrate. The former president, who is on his […]

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My party will rule Tanzania ‘forever’ – John Magufuli

Tanzanian president John Magufuli on Monday night, said that his party will remain “in power forever” in the East African nation. In a speech broadcast live on Monday night on radio and television, the Tanzanian head of state said the ruling Chama Cha Mapinduzi (CCM) party will remain in power forever and those who go […]

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Nigeria: Beijing-based Oil Company to invest $3 bln in oilfield operations

China National Offshore Oil Corp (CNOOC) has pledged to invest about $3billion in its existing oil and gas operations in Nigeria, the Nigerian National Petroleum Corporation (NNPC) stated on Sunday. Yuan Guangyu, the Chief Executive Officer of the Beijing-based Corporation, made the pledge when he led a team of CNOOC top executives on a visit […]

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Security Council imposes arms embargo on South Sudan

The Security Council on Friday narrowly passed a measure aimed at stopping the flow of weapons to armed groups in South Sudan, with those Members in favor saying it would protect civilians, while abstainers voiced concerns that it would undermine the ongoing peace process in the world’s youngest country. Adopting a resolution by a vote […]

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Ethiopia appoints new central bank governor

Ethiopia has appointed a new central bank governor on Monday amid major economic reforms spearheaded by the country’s new Prime Minister Abiye Ahmed. Yinager Dessie who has been serving as head of the National Planning Commission with the rank of a minister, will take over Teklewold Atnafu, according to Fana Broadcasting Corporation. Abiy Ahmed, 41, […]

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DR Congo to vote legal protection for ex-presidents, top aides

Democratic Republic of Congo’s parliament will consider legislation to provide legal protection for former presidents, lawmakers said. Lower house speaker Aubin Minaku made the announcement over the weekend at the close of the parliamentary session. According to him, lawmakers will examine several items including the law on the status of former chiefs of state, the […]

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MTN to launch mobile service in Namibia by August

Africa’s biggest mobile telecoms firm, MTN Group, is aiming to launch a mobile service in Namibia by the end of August. According to Reuters, the Johannesburg-listed MTN has operated in Namibia for over 20 years but has mainly provided internet services to financial institutions, wholesale customers and logistics institutions. State-owned operator MTC dominates in Namibia, […]

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Zimbabwe’s parliament drops Mugabe’s $15 billion diamond probe

Zimbabwe’s parliament on Monday backed down from its decision to demand former president Robert Mugabe to answer questions related to the looting and loss of diamond revenue amounting to $15 billion. Temba Mliswa, the Zimbabwean lawmaker leading the inquiry made the announcement without further details. According to the state-owned Herald newspaper, the 94-year-old former president […]

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