HakiPensheni: October 2020

Saturday, October 31, 2020

The future of mobility in Africa

This week, the UN published a report about the impact of used vehicles on the environment in Africa. According to this report, Africa is the destination of 40% of used light duty vehicles from Europe, Asia and the USA. This trend contributes to the astonishing low GDP-high emissions paradigm, whereby African cities have the same pollution levels such as industrialised ones.

image copyrightGNTB/DZT

By Bernd Debusmann

Business reporter

For many people, a trip to Germany's fairytale-like Neuschwanstein castle, the Republic of Ireland's stunning Cliffs of Moher, or the pristine waters of the Maldives are a bucket list ambition.

Covid: The 400,000 seafarers who can't go home

image copyrightGimeil O Abuda

image captionThousands of seafarers are stranded on their ships because of Covid. This image is part of the "Still At Sea" photography competition, held by the ITF Seafarers' Trust

By Tim McDonald
BBC News, Singapore

Coronavirus pandemic

When his ship pulled into anchorage at Santos in Brazil last week, "Alona" had been at sea so long, he had missed his own wedding.

The assistant engineer from the Philippines had been on the same ship for nearly 16 months, despite three attempts to go home. He had not set foot on land since a brief shore leave in August 2019 and he almost never had a day off.

'Millions face hardship' as government support ends

image copyrightGetty Images

By Simon Read

Business reporter

Coronavirus pandemic

The end of a range of government support schemes could leave millions of people facing hardship, think tanks and political groups have warned.

Mortgage holidays and jobs furloughing are to end on Saturday, with other support measures starting.

The 1,445km (897) miles East Africa Crude Oil Pipeline (EACOP) project will run from Hoima in Uganda to Tanga in Tanzania. [PHOTO | FILE]

Editor's Review

Jack Ma is now China’s second-wealthiest man. [PHOTO | COURTESY OF WSJ]

Editor's Review

One of the Kenya's alluring beaches at the Coast. PHOTO | COURTESY

By Joel Muinde

Tourism, transport and logistics, and retail sectors in East Africa were the hardest hit by the Covid-19 pandemic, a report by the East African Business Council (EABC) shows.

Tough times for bankers as NCBA draws first blood

By Dominic Omondi

NCBA has become the first bank since the coronavirus pandemic hit Kenya to retrench workers, signaling tough times ahead for bankers.

State bets on new ICT rules and incentives to link up remote areas

By Macharia Kamau

A resident of Narok West makes a call near a newly-constructed booster in the area. The Universal Service Fund injected Sh1.2 billion towards the network connectivity project. [Robert Kiplagat, Standard]

The Government appears to be reneging on its promise to bridge the digital divide across the country. It now wants private sector players to increasingly play such role.

Portland Cement full-year loss narrows to Sh2.77 billion

By Peter Theuri

Cement maker East African Portland Cement (EAPCC) has reported a net loss of Sh2.77 billion for the year ending June 30, 2020.

Safaricom Foundation invests Sh12m to support self-help groups

By Peter Theuri

Safaricom Foundation has partnered with non-governmental organisation, Hand in Hand Eastern Africa, to support self-help groups with micro-loans.

Trading in the financial markets can be one of the most promising and profitable types of such earnings.

By NM Partners

There are a huge number of ways to make money online nowadays. You can do it sitting at home on the couch, at a table in a cafe or even in parallel with the main work. In general, anywhere, you just need an internet-connected computer or a smartphone.

Trading in the financial markets can be one of the most promising and profitable types of such earnings. Why? Let’s figure it out in this article.

With the initiative, Stanbic IBTC aims to improve and deepen the financial knowledge of Nigerian children.

By NM Partners

In a bid to increase financial literacy amongst the younger generation, Stanbic IBTC Holdings PLC, recently held virtual sessions to educate preteens and teenagers on how to develop a savings and investment culture.

Andisa Ntsubane discusses the challenges businesses now face as they navigate through the COVID-19 era.

By NM Partners

The year 2020 will be remembered as the ‘Year of the Great Pause’. It has been a period in which perceptions changed, boundaries moved, and businesses shifted on their traditional, comfortable foundations. Brands have been left battling with the reality that the unexpected had indeed happened

Why exchange rate disparity remains high despite CBN’s intervention

Despite the intervention measures by the CBN, why does the disparity between the official and black-market rates remain high?

By Chike Olisah

The Nigerian economy has been faced with serious foreign exchange crisis since the first quarter of the year, with severe pressure on the nation’s foreign exchange market and external reserve. The local

Rich investors are moving cryptos at an alarming rate, Bitcoin, BTC, cryptocurrency,Cryptocurrencies and its usage in Africa

Over $1.5 billion worth of Bitcoins have been transferred from one point to another in more than 15 transactions.

By Olumide Adesina

Wealthy investors have lately intensified their moves at an astronomical rate, with the prevailing price seen at the world’s flagship crypto hovering above $13,000.

Canadian Government plans to receive over 1.2 million immigrants by 2023.

By Abiola Odutola

The Canadian Government plans to receive over 1.2 million immigrants in three years, from 2021 to 2023. The plan is to make up for a shortfall caused in 2020 by the Coronavirus pandemic.

Airtel Africa Plc appoints Kelly Bayer Rosmarin as Non-Executive Director

Kelly Bayer Rosmarin has been appointed by Airtel Nigeria Plc as a Non-Executive Director.

By Omokolade Ajayi

Airtel Nigeria Plc has announced the appointment of Kelly Bayer Rosmarin as a Non-Executive Director (NED), with effect from 27 October 2020.

WTO, Okonjo-Iweala joins South Africa's presidential economic advisory council as nation struggles with recession, Dr. Okonjo-Iweala officially declared candidate with the largest and broadest support among members

Nigeria is making moves to reach out to the US to agreed to appoint Okonjo-Iweala as Director-General of the WTO.

The Federal Ministry of Industry, Trade & Investment has said that Nigeria is currently reaching out to the United States and South Korea to back the WTO preferred candidate, Dr. Ngozi Okonjo-Iweala, for the role of DG of WTO.

By William Ukpe

This was disclosed in a statement by the Ministry and reported by Reuters on Saturday morning.

Nestle Nigeria to pay interim dividend of over N19 billion to shareholders

The interim dividend will be paid on or before December 11, 2020 to shareholders whose names appear on the Register as at 7th December 2020.

By Omokolade Ajayi

Why Nestle Nigeria’s return remains strong - EFG Hermes, Nestle Nigeria Plc appoints new Director, Nestle Plc: FY 2019 Revenue beats estimate; but profit underperforms, GTB, Zenith Bank, & Nestle emerge as Renaissance Capital’s top stock picks

One of the largest food and beverage companies in Africa, Nestle Nigeria Plc, has announced the payment of a total ₦19.81 billion as interim dividend to its shareholders.

ATM Fraud: How to care and use your card wisely

To protect your card from external harm, there are few tips you must acknowledge and start getting familiar with.

By NM Personal Finance

The Cashless Policy, as we know it in Nigeria, was officially introduced and became fully operational in 2014 – with the aim to encourage electronic banking and to reduce physical cash in circulation – which would in turn decrease cases of cash-related crimes. One way of implementing this policy is through the use of ATM cards.

How to prioritise your needs over wants

It is crucial, as a financially oriented person to learn how to prioritise your needs over your wants.

By NM Personal Finance

To become financially stable, you have to learn to make some strategic decisions, and one of them includes prioritising your needs over your wants. The things you need are the things you cannot do

How to avoid debt despite economic challenges

Analyzing your income and your needs will help you to develop a befitting spending strategy that covers your expenses.

By NM Personal Finance

With the current economic climate, running into debt seems unavoidable for many individuals and organizations. Individuals, as well as businesses, are faced with daunting economic challenges which the pandemic has triggered.

Nigeria’s food Inflation rises by 110.5% in five years

Nigeria’s Food Inflation has risen by 110.5% between September 2015 and September 2020.

By Abiola Odutola

Despite billions on agriculture, food inflation up by 108% since 2015.

Nigeria’s food inflation has risen by 110.5% in 5 years, between September 2015 and September 2020.

A comparison of the Composite Food Index within the period under review indicated that food inflation rose from 181.8 index points to 382.7 index points.

MTN Uganda unveils 3-in-1 business solution for enterprise customers

By Admin

• The three in one business solution incorporates Voice, Internet, and MoMo for Business.

• With this offer, business customers will get free installation on fixed voice solutions, discounted transaction fees on MoMo for Business solutions as well as free installation, free subscription for the

CFOs' Awards 2020 on

By Vision Reporter

This year’s event will run under the theme, Building resilient finance leaders and organizations.

Previous winners of the CFOs awards

The Association of Chartered Certified Accountants (ACCA) has started accepting entries for the 2020 Chief Finance Officer (CFO) Awards.

Established in 2017, the Awards recognize and celebrate the outstanding achievements of CFOs'.

The awards are open to finance officers of listed companies, large corporations, SMEs, state-owned

England set for new virus lockdown

By AFP

British Prime Minister Boris Johnson convened his cabinet on Saturday to decide whether to impose a new lockdown across England within days.

British Prime Minister Boris Johnson. (AFP photo)

HEALTH VIRUS

Britain's prime minister held an urgent cabinet meeting on Saturday and looked set to join other European countries in imposing a new coronavirus lockdown in England.

AIRBUS YENYE UWEZO WA KUBEBA ABIRIA 132 YATUA DODOMA KWA MARA YA KWANZA

Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132, ikituwa kwa mara ya kwanza katika Uwanja wa ndege wa Dodoma baada kufanyiwa marekebisho kwa kupanuliwa kwa njia ya kutua na kufikia urefu wa kilometa 2.8.

Mkuu wa Mkoa wa Dodoma Dkt.Bilinithi Mahenge,akizungumza mara baada ya kuipokea

Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132,ambayo imetuwa kwa mara ya kwanza katika Uwanja wa ndege wa Dodoma baada kufanyiwa marekebisho kwa kupanuliwa kwa njia ya kutua na kufikia urefu wa kilometa 2.8.

Mkurugenzi Mkuu wa Wakala wa Barabara nchini(TANROAD), Mhandisi Patrick Mfugale,akitoa taarifa mara baada ya kuipokea Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132, ikituwa kwa mara ya kwanza katika Uwanja wa ndege wa Dodoma baada kufanyiwa marekebisho kwa kupanuliwa kwa njia ya kutua na kufikia urefu wa kilometa 2.8.

Katibu Mkuu wa Wizara ya Ujenzi, Uchukuzi na Mawasiliano, Dk.Leonard Chamuriho,akizungumza mara baada ya kuipokea Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132, ikituwa kwa mara ya kwanza katika Uwanja wa ndege wa Dodoma baada kufanyiwa marekebisho kwa kupanuliwa kwa njia ya kutua na kufikia urefu wa kilometa 2.8.

Abiria wakishukwa kwa mara ya kwanza wakiwa na Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132,baada ya kutua katika Uwanja wa ndege wa Dodoma.

Baadhi ya wakazi wa Dodoma wakishuhudia Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132, ikituwa kwa mara ya kwanza katika Uwanja wa ndege wa Dodoma.

Mkuu wa Mkoa wa Dodoma Dkt.Bilinithi Mahenge akiwa katika picha mbalimbali mara baada ya kuipokea Ndege aina ya Airbus A220-300 yenye uwezo wa kubeba abiria 132 baada ya kutua kwa mara ya kwanza katika uwanja wa Dodoma

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Na.Alex Sonna,Dodoma

Mambo yamezidi kunoga huku shwange na mafuriko ya wakazi wa Dodoma baada ya kuiona

NMB yatoa vifaa vya Afya Iringa, Kagera

Mkuu wa Idara ya Huduma kwa Wateja wa NMB - Abella Tarimo (mwenye rasta) akikabidhi sehemu ya msaada wa vitu mbalimbali kwa Mganga Mkuu wa Hospitali ya Rufaa Iringa (kushoto kwake) Dk. Robert Salim na Mganga Mfawidhi Dk. Alfred Mwakalebela (kulia)

Katika kuadhimisha mwezi wa huduma kwa wateja, Benki ya NMB kupitia Mameneja wake wa huduma kwa wateja wa Kanda ya Dar es Salaam, Nyanda za Juu na Kanda ya Ziwa imetoa vifaa mbalimbali vya Afya vyenye thamani ya

CBN Unveils Framework for N12.5bn Youth Investment Fund

•Pegs interest rate at 5% with one-year moratorium

By James Emejo

The Central Bank of Nigeria (CBN) yesterday released the guidelines for the Nigeria Youth Investment Fund (N-YIF) with a take-off seed capital of N12.5 billion.