Zimbabwe: Bond notes will be under scrutiny tomorrow (Wednesday) as the Reserve Bank of Zimbabwe (RBZ), the government, industry and commerce meet to review and assess the impact of the notes in sustaining the economy.
The review is expected to focus on the impact of the bond notes on exports, pricing models, banking sector functions, level of deposits and savings, economic growth, viability of industries and providing opportunities for local production, among others. Read more
Kenya: A 28-year-old man alleged to have hacked into the taxman’s systems, leading to the loss of nearly Sh4 billion, will know next week whether he will be detained for 40 days or freed on bond.
Mr Alex Mutungi Mutuku pleaded not guilty to a charge of electronic fraud.
His lawyer Tacey Makori protested against the prosecution request to have him detained for a further 40 days and nights.
“Due to the slow pace of extracting information per gadget which is not less than five hours, to provide quality evidence, we need at least 40 running days and nights to generate a forensic report,” they said. Read more
Microsoft co-founder Bill Gates has once again topped Forbes magazine list of the world’s richest billionaires, for the fourth straight year, with a fortune of $86 billion.
Next is Berkshire Hathaway chief Warren Buffett, with an estimated wealth of $75.6billion, followed by Amazon founder Jeff Bezos, with a net worth of $72.8billion.
Number four is Amancio Ortega – Inditex fashion group founder $71.3billion, while number 5 is Facebook founder Mark Zuckerberg with $56billion
Former world’s richest man Carlos Slim comes in six with $54.5billion, while Oracle co-founder Larry Ellison came it at number seven with $52.2billion in the bank. Read more
At age 19, shy, passionate and friendly Caroline Esinam Adzogble knew what the future held for her was to become an expert in education and technology.
In our part of the world, certain grounds are seen as unbreakable for a woman but for the now 24-year-old CEO of Potters International College, it is time to prove the world wrong and changing things around her.
Due to this, while awaiting her secondary school examination certificate; she enrolled at IPMC to study database technology, hardware and networking programme.
How the Journey Started
“I always knew I wanted to own a school where knowledge could be imparted into people. I started school business since I was 19.
“While pursuing those courses my love grew for the IT industry so I got home one day from school and told my dad I was going to start an IT school and call it AITC (Ashley Hills IT Center) at Tema,” she said. Read more
President Mugabe has yesterday opened a multi-million dollar cement plant, PCC Zimbabwe in the Sunway Industrial Park, Harare that is likely to see a steady decline in cement prices.
The plant has the capacity to produce 700 000 tonnes of cement per annum. Read more
Today, US President, Donald Trump released a $1.1 trillion budget outline that proposes a $54 billion increase in defense spending offset by deep cuts to the State Department, the Department of Housing and Urban Development and the Environmental Protection Agency, as well as dozens of other federal programs.
Republicans on Capitol Hill applauded the ramp up in defense spending and cuts to non-military expenditures in President Donald Trump’s proposed budget, while Democrats argued he was jeopardizing programs critical to American families. See the complete Budget Outline HERE
Zimbabwe tobacco selling season officially began today and authorities are expecting 205m kg of tobacco to go under the hammer this year.
The country’s reserve bank governor says the sales are expected to ease the money shortage that has plagued the country for over a year.
Tobacco is one of the country’s biggest exports and foreign currency earners and production is expected to grow this season, following good rains and a surge in new farmers registering to grow the crop. Read more
Dr Tamara Kaunda, 27, a medical doctor who studied in China, made a fairly dramatic career change when she switched from medicine to the farming of seedlings.
What drove young Tamara Kaunda to swap her stethoscope for a seedling tray?
Tamara says she made the decision on her first day at the University Teaching Hospital (UTH). “It didn’t look like a place where a patient could recover. I wondered what good I could do there, when people could not afford decent food, let alone drugs.”
The granddaughter of Robert Kaunda, older brother of Zambia’s first Republican president, Kenneth Kaunda, Tamara was raised on her father’s farm outside Chinsali, in the north-eastern province of Muchinga.
Here the older Kaunda brother grew bananas, cabbages, sugar cane, tomatoes and other fresh produce. He ran a productive farming business and was a successful farmer in the district. Read more
Figures just out show Nigeria’s economy shrank by 1.5% in 2016.
Last spring Africa’s largest economy officially slid into recession for the first time in 25 years.
These figures may be unwelcome but they are not unexpected. Nigeria is grappling with its worst economic crisis in a generation.
It has been largely caused by the slump in global oil prices, which has sucked all-important US dollars out of the economy. Read more