At 16.67%, Foreign Portfolio Investments in Stock Market Hits Over 9-year Low

 

Kayode Tokede

Amid 2023 political uncertainty and scarcity of foreign exchange, foreign portfolio investments in the Nigerian stock market dropped to 16.67 per cent in 11 months of 2022, the lowest level in over 9 years.

Wema Bank: Digital Banking Can Aid Financial Inclusion in Nigeria

 

The Managing Director/CEO, Wema Bank Plc, Ademola Adebise, has said with the advancement of technology, digital banking can play a big role in driving Financial inclusion in the country.

PenCom: Making Workers Home Ownership Dream a Reality

 

Recent developments in the pension sector point to the fact that the National Pension Commission is determined to make mortgage financing for home ownership through Workers’ Retirement Savings Account a reality, writes Ebere Nwoji

How Postly is Changing Digital Marketing for Businesses, Influencers

 

The most difficult aspects of digital marketing are creating social media posts, scheduling, designing creative content and literally trying to drive the entire conversations online. Often, it is just one or two persons trying to pull this stunt, in addition to several other responsibilities

Increasing civic space, press freedom: what it means for media quality in the country

ACCORDING to Dr Mwinyi, Zanzibar received 61,388 tourists in August 2022, a sharp rise from 34,000

DAILY NEWS Reporter in Zanzibar

WHEN launching the ‘Yearbook on Media Quality in Tanzania report-2022’, in Zanzibar last week, the principal researcher Mr Abdallah Katunzi of the University of Dar es Salaam School of Journalism and Mass Communication, said during his study he asked several editors if they had experienced any threat and interference in the course of implementing their work, and the response was No, at least not in the past one year.

RAMAPHOSA ACHAGULIWA TENA KUONGOZA CHAMA CHA ANC

Na Mwandishi Wetu

Rais wa Afrika Kusini, Cyril Ramaphosa amechaguliwa tena kuwa Kiongozi wa Chama Tawala cha ANC kwa shangwe baada ya kupata kura nyingi zaidi ya mpinzani wake, Zweli Mkhize katika Uchaguzi wa Chama hicho uliofanyika mapema wiki hii, mjini Johannesburg nchini humo.

Rais Cyril Ramaphosa ambaye anakabiliwa na kashfa ya ubadhirifu wa fedha alipata Kura 2,476 dhidi ya Kura 1,897 za mpinzani wake, Mkhize. Ramaphosa anakabiliwa na tuhuma hizo za ufujaji wa fedha wakati Mkhize anakabiliwa na tuhuma za ufisadi, wote wamekana tuhuma hizo zinazowakabili.

Ushindi huo umemuweka Ramaphosa katika nafasi nzuri ya kuongoza Chama hicho cha ANC katika Uchaguzi Mkuu wa nchi hiyo unaotarajiwa kufanyika mwaka 2024 na huenda akatetea nafasi hiyo ya Urais. Ramaphosa anaendelea kuchunguzwa na Mamlaka za Uchunguzi nchini Afrika kwa tuhuma hizo za madai ya ufujaji wa fedha $580,000 (£475,000) kwenye Makochi katika Shamba lake na kisha kuficha wizi wake.

Hata hivyo, Jopo la Wataalamu wa Sheria walioteuliwa na Spika wa Bunge la Afrika Kusini limesema kuwa Ramaphosa ana kesi ya kujibu kwani huenda wote wawili wamekiuka Katiba na kuvunja Sheria ya kupambana na Rushwa.

Wafuasi wake walishangilia ushindi huo wa Ramaphosa, baada ya kutangazwa mshindi katika matokeo yaliyomfanya ashinde kwa tofauti kubwa ya Kura dhidi ya Mpinzani wake, ikiwa ni mara ya kwanza tangu alipowania Uongozi wa Chama hicho cha (African National Congress) mnamo mwaka 2017.

ANC ilitumia wingi wa Wabunge wake kupiga Kura za maoni, na hali hiyo ilimfanya Ramaphosa kushinda tena katika Uchaguzi huo, huku akikana kufanya makosa na ameanzisha hatua za Kisheria kubatilisha ripoti ya Jopo hilo.

Amesema kiasi cha Dola hizo za Marekani 580,000 zilitokana na mauzo ya Nyati, lakini jopo hilo lilisema kulikuwa na "Mashtaka Makubwa" kama shughuli hiyo ilifanyika. Mkhize alikuwa Waziri wa Afya katika Serikali ya Ramaphosa hadi alipolazimika kujiuzulu mwaka jana kwa

SERIKALI KUWEKA MAZINGIRA KUPANDISHA UFAULU WANAFUNZI LAW SCHOOL

Waziri wa Katiba na Sheria Dkt.Waziri Ndumbaro akizungumza na waandishi wa habari leo Desemba 20,2022 katika Ofisi za RITA Jijini Dar es Salaam. (PICHA NA EMMANUEL MASSAKA WA MICHUZI TV)

Na Mwandishi Wetu, Michuzi TV

WAZIRI wa Katiba na Sheria Dkt. Damas Ndumbaro amekutana na kufanya mazungumzo na viongozi kutoka baadhi ya taasisi ambazo ziko chini ya Wizara hiyo kwa ajili ya  kujadili namna ya kutekeleza mapendekezo yaliyotolewa na Kamati ya Tathmini ya wanafunzi wa

Cashless economy campaign, NMB hands over awards

Cashless economy campaign, NMB hands over awards

DAILY NEWS Reporter

IN efforts to enhance cashless economy that makes the public prefer payments of goods and services using digital platforms, NMB Bank has been promoting the MastaBata campaign, where a resident of Kizota in Dodoma, Salum Jumanne Rajabu was on Thursday handed over a motorcycle after emerging a winning in the competition.

Investing in youth key to development

Investing in youth key to development

KAUNGA MAULID

EMPOWERING and investing in young people through creativity and innovation is the fundamental initiative for the development of any nation in the world.

NMB promotes shared community values via CSR

JANGALUTU pupils in Mbarali District, Mbeya Region sit on desks donated by NMB bank through its Corporate Social Responsibility initiative which supports government efforts in improving learning environment in schools in the country. (Photo by NMB)

BUSINESS STANDARD Reporter

MANY responsible companies across the globe are becoming increasingly involved in Creating Shared Value (CSV) and conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.

Tanzania, Netherlands to boost potato production

Tanzania, Netherlands to boost potato production

DAILY NEWS Reporter in Mbeya

Mbeya Region Commissioner Mr Juma Homera has said that the government will continue to work with the Dutch government to facilitate the increase in potato production in the country.

DSE weekly turnover increases by 20 per cent

Dar es Salaam Stock Exchange (DSE)

Stock Market:

THE Dar es Salaam Stock Exchange (DSE) had a successful week, with a 29% increase in turnover, from TZS 1.2 billion to TZS 1.5 billion. The volume of traded shares also doubled, from 2.6 million to 6 million. The market capitalization at the end of the week was TZS 15.5 trillion.

Current account deficit widens on global challenges

Current account deficit widens on global challenges

DAILY NEWS Reporter

CURRENT  account recorded a deficit of 4,989.6 million US dollars in the year ending October compared with 1,856.9million US dollars in the corresponding period last year on account of higher imports bill.

Tighter policy pushes up bonds yields, lower prices

Treasury bond

ABDUEL ELINAZA

THE 25 year government bond that goes under the hammer today is tipped to increase in yields and subscriptions due to tighter monetary policy and looming inflationary risks.

Sights of Africa’s rooftop…ITU boss narrates 8-day mission

Sights of Africa’s rooftop...ITU boss narrates 8-day mission

From EDWARD QORRO in Arusha

WHAT was meant to be a personal mission turned out to be an organizational mission for Tomas Lamanauskas after he successfully hoisted the International Telecommunication Union’s (ITU) flag on Mt Kilimanjaro.

Indian institution awards Samia for Royal Tour Film

Indian institution awards Samia for Royal Tour Film

DAILY NEWS Reporter

AN Indian based institution—International Iconic Award, has recognised President Samia Suluhu Hassan for her participation in the much publicized Royal Tour Documentary.

Tourist arrivals up by 64pc

PILLY NASHON in Dodoma

THE National Bureau of Statistics (NBS) has released new figures of tourist arrivals in the country, showing a sharp rise to 1,175,697 visitors between January and October 2022, compared to 716,741 during the corresponding period last year.

Emergency services get massive boost

PRIME Minister Kassim Majaliwa, German Ambassador to Tanzania, Dr Regine Hess (right) and Minister for Natural Resources and Tourism, Amb Dr Pindi Chana inspect 51 vehicles during a handover ceremony.

DAILY NEWS Reporter

PRIME Minister Kassim Majaliwa on Tuesday received 51 vehicles as part of implementation of an emergency support project for improving tourism and conservation activities.

Govt: Inculcate value for money spirit in projects

 Meddy Mulisa

THE Deputy Minister for Transport and Works, Engineer  Godfrey Kasekenya has tasked engineers under the Tanzania Building Agency (TBA) to ensure value for money spirit is maintained on projects being implemented in their areas of work.

Stakeholders move to fight climate change effects on children

Climate change

PILLY NASHON

DEVELOPMENT stakeholders and other children’s right stakeholders have been asked to join efforts in raising public awareness on climate change, its effect on children’s right and how the problem can be addressed.

DMI trains 79 girls to become financially independent

DAUGHTERS of Mary Immaculate (DMI)

NANCY MAWOLE

DAUGHTERS of Mary Immaculate (DMI) Spring of Hope has awarded certificates and working tools to 79 girls who have completed a one-year training  in various programs aimed at helping them to become financially independent.

STRATEGIC PROJECTS: Samia goes for healthy borrowing

President Samia Suluhu Hassan

 HILDA MHAGAMA

PRESIDENT Samia Suluhu Hassan has reiterated the government’s plan to continue seeking for loans to finance numerous strategic projects in the country for long-term development.

Uvinza – Gitega SGR secures financier

HILDA MHAGAMA

PRESIDENT Samia Suluhu Hassan announced on Tuesday that an investor has expressed interest in financing a 367-kilometre Standard Gauge Railway (SGR) link connecting Uvinza, a town in western Tanzania, and Gitega, a city in Burundi.

Tanzanian EALA members vow to put national interests first

Tanzanian EALA members vow to put national interests first

EDWARD QORRO in Arusha

TANZANIA representatives at the East African Legislative Assembly (EALA) on Monday vowed to put the county’s interests on the forefront as they took oaths of office.

African economies can only grow by seeking homegrown solutions

The acting chief economist for the African Development Bank Kevin C. Urama. PHOTO | COURTESY

By AGGREY MUTAMBO

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The acting chief economist for the African Development Bank Kevin C. Urama spoke with Aggrey Mutambo on Africa’s quest for a green revolution and the attendant financial challenges.

Kenya in 2022: A year of political drama and economic hardships

Kenyans queue to vote on August 9, 2022. The year 2022 was always going to be an eventful one for Kenyans. PHOTO | PATRICK MEINHARDT | AFP

By THE CONVERSATION

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By Julius Maina

The year 2022 was always going to be an eventful one. After nearly 10 years in power, President Uhuru Kenyatta was destined to leave office to make way for the winner of the August 2022 presidential vote. Would it be his former bitter rival turned political ally Raila Odinga? Or would it be close ally turned bitter rival William Ruto?

It mattered to millions of Kenyan voters, too, who would lead the country out of a particularly difficult year. High food prices, record fuel prices and the worst drought in 40 years made for a depressing run-up to the election.

Add to these the nagging fears of potential violence at any point in the election cycle.

The Conversation Africa’s academic experts were there at every turn to provide insights. Here are four essential reads on these and other developments.

A disputed election, but no violence

It was not a certainty that Kenya would avoid the ugly election violence for which it has become infamous since the post-election killings in 2007 and 2008. Many Kenyans feared this possibility. But the campaigns and post-election period were relatively calm and peaceful. This was despite vigorously contested, close, disputed and at times tense polls.

Gabrielle Lynch explains that a great deal has changed since Kenya stood on the “brink of a precipice” in 2008. A new constitution introduced in 2010 heralded numerous reforms, key among them the dispersion of political power and the independence of the judiciary. Key institutions need further reforms to resolve outstanding grievances.

Women wait to fetch water from a bowser in Manguto village in Marsabit County as drought ravages Kenya’s northern region. PHOTO | NICHOLAS KOMU | NMG

Kenya’s in a hole: time to stop digging

President William Ruto, Kenya’s incoming president, inherited an economy reeling from many shocks. Like other African countries, Kenyans face unprecedented levels of food and fuel inflation. His options will be further limited by the country’s high debt levels, which have driven the cost of annual debt servicing to almost 54 percent of domestic revenues – up from 40 percent in 2020.

The World Bank warned of a high risk of debt default. What’s more, writes Odongo Kodongo, the International Monetary Fund’s downgrade of Kenya’s debt risk makes it more expensive for the country to borrow, leaving it with less to spend on other economic programmes.

Police officers on patrol in Nairobi, Kenya. The new government of President William Ruto dissolved a police squad accused of carrying out extrajudicial killings. PHOTO | FILE | NMG

Police getting away with murder

Police killings of citizens are shockingly commonplace in Kenya. Those who bear the brunt are mostly poor, young and male suspects of crime or terrorism. Investigations are rare unless there is overwhelming public outrage stoked by the media, or the victim is well-known or well-connected.

The new government dissolved a police squad accused of carrying out extrajudicial killings, but that alone won’t make a dent when the problem is structural rot within the police service, argues Naomi van Stapele. She suggests ways to restore public confidence in the Kenyan police.

Demonstrators protesting in Nairobi against the planned introduction of GMO foods in Kenya. PHOTO | FILE | NMG

Genetically modified food debate

Kenya lifted a ban on the cultivation and importation of genetically modified crops amid the worst drought in 40 years and soaring food prices. The targeted crops include white maize, the country’s main staple food.

The decision was welcomed by scientists who see genetically modified crops as the answer for food security. But it is opposed by a spirited lobby concerned about potential risks to health and the environment.

Benard Odhiambo Oloo weighs these fears up against available scientific evidence. He calls for a measured combination of public safety vigilance and government transparency.

UN Security Council lifts arms purchase ban on DR Congo

Military troops arrive in Goma, eastern DRC on November 16, 2022. The United Nations Security Council has ended the arms purchase ban on the DRC. PHOTO | AUGUSTIN WAMENYA | ANADOLU AGENCY VIA AFP

By PATRICK ILUNGA

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The United Nations Security Council on Tuesday ended the arms purchase ban on the Democratic Republic of Congo (DRC), freeing the country's military to buy new weapons without having to seek permission from the global body's sanctions committee.

RAIS DKT. MWINYI APONGEZWA NA WAUGUZI KATIKA SHEREHE ZA MIAKA MIWILI YA UONGOZI WAKE KUTIMIZA MIAKA MIWILI

RAIS wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Mhe.Dk.Hussein Ali Mwinyi akihutubia wakati wa sherehe za kupongezwa zilizoandaliwa na Wauguzi wa Zanzibar kwa kutimiza miaka miwili ya Uongozi wake, zilizofanyika leo 20-12-2022 katika ukumbi wa Chuo cha Utalii Maruhubi Unguja Jijini Zanzibar.(Picha na Ikulu) WAUGUZI Zanzibar wakimsikiliza Rais wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Mhe.Dk.Hussein Ali Mwinyi (hayupo pichani) wakati wa sherehe za kumpongeza kwa kutimiza miaka miwili ya Uongozi zilizofanyika katika ukumbi wa Chuo cha Utalii Maruhubi Unguja Jijini Zanzibar leo 20-12-2022.(Picha na Ikulu) RAIS wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Mhe.Dk.Hussein Ali Mwinyi akimsikiliza Bi.Rabia Mzee Mataka wa Kitengo cha Shirikishi cha Afya na Uzazi Zanzibar, wakati akitembelea maonesho ya sherehe ya kumpongeza kwa kutimiza miaka miwili ya uongozi wake, iliyoandaliwa na Wauguzi Zanzibar,katika ukumbi wa Chuo cha Utalii Maruhubi Wilaya ya Mjini Unguja na (kulia kwa Rais) Waziri wa Afya Zanzibar Mhe.Ahmed Nassor Mazrui na Mkuu wa Wilaya ya Mjini Unguja Mhe.Rashid Simai Msaraka.(Picha na Ikulu) RAIS wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Mhe.Dk.Hussein Ali Mwinyi akikabidhiwa TUZO Maalum ya Kutimiza Miaka Miwili ya Uongozi wake,iliyotolewa na Wauguzi Zanzibar akikabidhiwa na Muunguzi Bi. Maryam Rashid Suleiman, wakati wa sherehe za kumpongeza zilizofanyika katika ukumbi wa Chuo cha Utalii Maruhubi Unguja leo 20-12-2022, na (kulia kwa Muunguzi) Waziri wa Afya Zanzibar Mhe.Nassor Ahmed Mazrui na (kushoto kwa Rais) Mkuu wa Wilaya ya Mjini Unguja Mhe.Rashid Simai Msaraka.(Picha na Ikulu) 

RAIS wa Zanzibar na Mwenyekiti wa Baraza la Mapinduzi Mhe.Dk.Hussein Ali Mwinyi akikata keki maalum ya kumpongeza kwa kutimia miaka miwili ya Uongozi wake, wakati wa sherehe za kumpongeza zilizoandaliwa na Wauguzi Zanzibar katika ukumbi wa Chuo cha Utalii Maruhubi Unguja Jijini Zanzibar leo 20-12-2022, na (kulia kwa Rais) Muunguzi Bi. Maimuna Ibrahim, Waziri wa Afya Zanzibar Mhe. Nassor Ahmed Mazrui na Naibu Waziri wa Afya Zanzibar Mhe. Hassan K. Hafidh na (kushoto kwa Rais) Mkuu wa Wilaya ya Mjini Mhe. Rashid Simai Msaraka na Mwenyekiti wa Baraza la Wauguzi Zanzibar Prof. Amina Abdulkadir Ali.(Picha na Ikulu)