KAMPALA/ACCRA, (Reuters) – Young Ghanaian entrepreneur Nana Tamakloe could hardly have a simpler business plan. When people order clothes from his website, he buys the items from stalls and shops in Accra, ships them with DHL and gets paid online. His suppliers love him as a regular customer and don’t care that he doubles their...
Nairobi is the most intelligent city in the Africa according to a report released by Intelligent Community forum For the second time, Kenya’s capital made it to the top ICF l 21 smartest cities but however missed out on the top seven positions, losing out to cities such as New Taipei City, Rio de Janeiro,...
By Mohamed Dalmar Early in 2013, the new Somali government faced severe currency crisis caused by the sharp appreciation of Somali shilling against the U.S. dollar. I recall the criticism and the recrimination directed to the leaders of the new government who were accused of failing their responsibility of providing a monetary system for the...
by André-Pierre du Plessis GOOGLE South Africa is seeing considerable growth in Africa’s e-commerce space and expects 2015 to be another growth year. Luke Mckend, country director for Google SA, spoke at the eCommerce Africa Confex in Cape Town this week, where he shared stats on how Africans are increasingly Googling with the intent to...
By Kaleyesus Bekele With a view to boosting its long-haul fleet, Ethiopian Airlines is going to place firm orders for 20 wide body aircraft. Ethiopian Airlines Group CEO, Tewolde Gebremariam, told The Reporter that his management is evaluating the Boeing’s new aircraft under development B777X and the Airbus A350-1000. “We are evaluating both so that...
By Ronald Owili The World Bank cites complicated tax systems, low tax morale among taxpayers and focused compliance strategies by the Kenya Revenue Authority as reasons behind Kenya’s narrow tax base. The Bank says out of the 22.2 million working population, only a handful pay taxes. According to the World Bank report titled Public Expenditure...
By Constant Munda East African Community banking regulators should establish cross-border crisis management and resolution mechanisms under the ongoing joint supervision engagements to halt possibilities of contagion, according to the International Monetary Fund. In a policy paper titled ‘Pan-African Banks: Challenges and Opportunities for Cross-border Oversight’, published on Wednesday, the IMF says the EAC should...
FOR decades commodity prices have shaped Africa’s economic growth. The continent is home to a third of the planet’s mineral reserves, a tenth of the oil and it produces two-thirds of the diamonds. Little wonder then that, as a rule, when prices for natural resources and export crops have been high, growth has been good;...
By: Jeremy Riro Global oil prices are experiencing a free fall with the ultimate bottom resistance point predicted at $40 per barrel. Increased supply from all leading world oil producers is termed to be the core reason why we are experiencing the downward slide of the “black gold” prices. The ripple effect this has on...
Nairobi (Xinhua) – The five-storey building in Tena on the east of Nairobi, Kenya’s capital, is tiled from top to bottom, giving it a classy look that should appeal to tenants. However, despite being finished close to four months, the flat with 20 two-bedroom houses is yet to be fully occupied, with nearly half of...