Monthly Archives: September 2011

East African states in deal to connect power grids

Posted on September 30, 2011 by

Five East African countries have agreed on an ambitious plan to unify their national electric power grids to facilitate trade in hydropower electricity and cut over-reliance on oil-generated power. Kenya has also announced plans to widen the national power distribution system with the construction of 400 KV transmission line from Nairobi to Mombasa. Aseparate grid is being planned from the geothermal Ol Karia plant in Naivasha, about 90 km northwest of Nairobi, to Lessos in Kenya’s Rift Valley. The Lessos power line will connect the Kenyan transmitter to another proposed line from Tororo in Uganda, Joel Kiilu, the Managing Director of Kenya Electricity Transmission Company (KETRACO) said during a regional … Continue reading →

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New Zambian leader sacks Finance Minister

Posted on September 30, 2011 by

New Zambian President Michael Sata has fired respected central bank Governor Caleb Fundanga less than a week after taking office, a move that is unlikely to go down well with foreign investors in Africa’s biggest copper producer. Fundanga, who still had six months to go on his contract, according to Citibank, informed his staff of his dismissal in an email obtained by Reuters. The memo said: “This serves to advise you all that my appointment as governor of the Bank of Zambia (BoZ) has been terminated with immediate effect.” Citi said the dismissal of Fundanga, who had been central bank governor since 2002 and was renowned for his openness with … Continue reading →

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Communications cost rising again in Africa

Posted on September 28, 2011 by

By Michael Malakata The cost of communication in Africa is once again going up as competition coupled with rising inflation rates dig into mobile operators’ profit margins. Africa’s major operators including Bharti Airtel, Warid, Orange and MTN have all increased their calling rates due to rising inflation and the cost of doing business in the region. A price war in eastern and southern Africa led to more investment by international operators. But while low prices allowed operators to grow subscriber numbers, they did little to boost the operators’ revenue and tax contribution to governments. The competition has resulted in a decline in the quality of service by operators, including congestion, … Continue reading →

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G-8 offers Arab Spring countries US$38 billion

Posted on September 12, 2011 by

Western and Middle Eastern governments have pledged to help Tunisia, Egypt, Morocco and Jordan transition to democracy, mobilizing US$38 billion of financing, mostly through international lending organizations. At a meeting held at the weekend in Marseille, France, the countries receiving the aid presented national action plans to develop their economies. Libya sent representatives to the meeting, hoping to eventually join the so-called Deauville Partnership. The aid is intended to support economies and create jobs as the countries undertake the delicate process of opening up their political systems and holding free elections. The political changes have hurt tourism and investment, at the same time unleashing expectations of better lives. After the … Continue reading →

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