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Capital News

At least seven killed in blast at Pakistan religious school October 27, 2020
Peshawar, Pakistan, Oct 27 – At least seven students were killed and scores more wounded Tuesday in a bomb attack on a Koran study class at a religious school in northwestern Pakistan, officials said. More than 60 people had been taking a lesson when the explosion tore through the madrassa in Peshawar, about 170 kilometres […]
MP Mohamed Ali roots for full implementation of 2010 Constitution October 27, 2020
NAIROBI, Kenya, Oct 27- Nyali Member of Parliament Mohamed Ali has raised concerns over the proposed expanded Executive outlined in the Building Bridges Initiative (BBI) report. Speaking to Capital Newsbeat, the legislator pointed out that the creation of a Prime Minister’s Position with two deputies as well as having more Members of Parliament will only […]
Collection of 1 million signatures to follow after BBI launch October 27, 2020
NAIROBI, Kenya, Oct 27 – Following the formal launch of the Building Bridges Initiative (BBI) report, the next steps for its proponents will be the collection of 1 million signatures needed to prepare Kenyans as they head to a referendum. The signatures are then expected to be delivered to the Independent Electoral and Boundaries Commission […]
Sakaja Says National Dialogue on BBI key Before Referendum October 27, 2020
NAIROBI, Kenya, Oct 27- The debate on the Building Bridges Initiative(BBI) report continues to elicit mixed reactions among leaders with Nairobi Senator Johnson Sakaja saying it should be subjected to a national dialogue where Kenyans will have an opportunity to give their opinion on the raft of proposals made by the Steering Committee. Sakaja said […]
Matatus to strike from next week over continued 60pc COVID rule capacity October 27, 2020
NAIROBI, Kenya, Oct 27 – Matatu operators have threatened to ground their vehicles from Tuesday next week if the government does not lift COVID-19 restrictions on a limited number of passengers. The operators are protesting the requirement on 60 per cent capacity imposed in March by the Ministry of Health to help contain the spread […]
3 Mombasa MCAs, County Assembly staffer test positive for COVID-19 October 27, 2020
MOMBASA, Kenya, Oct 27 – Three Mombasa Members of County Assembly (MCAs) and one staff member have tested positive for COVID-19. Deputy Speaker Fadhili Makarani said the Assembly leadership had as a result resolved to extend an ongoing recess for a further fourteen days. “We have three of our colleagues who have tested positive for […]
With new tools, Facebook aims to avoid election fiasco repeat October 27, 2020
San Francisco, United States, Oct 27 – Facebook is leveraging its vast resources to help protect the 2020 election against the kind of massive manipulation and disinformation efforts that the platform failed to act on in 2016. The moves come with Facebook taking intense criticism from the Cambridge Analytica scandal in which the British consultancy […]
Moon richer in water than once thought October 27, 2020
Paris, France, Oct 27 – There may be far more water on the Moon than previously thought, according to two studies published Monday raising the tantalising prospect that astronauts on future space missions could find refreshment — and maybe even fuel — on the lunar surface. The Moon was believed to be bone dry until […]
Trump boosted by Supreme Court confirmation days from US election October 27, 2020
Washington, United States, Oct 26 – President Donald Trump’s struggling reelection campaign received a boost Monday with the confirmation of his latest Supreme Court nominee, tilting the top body to the right and clinching his judicial legacy in a landmark victory for American conservatives. The Republican-controlled Senate elevated Amy Coney Barrett to the lifelong position […]
NYS nationwide recruitment from Nov 2 to 6 October 27, 2020
NAIROBI, Kenya, Oct 27- The National Youth Service(NYS) has kicked off its annual nationwide recruitment that will start on November 2 to November 6. The organisation has urged youth in all the 47 counties who are interested in joining the service to turn out in large numbers for recruitment. All prospective candidates aged between […]

Business Briefs

Co-op Bank requires Sh12.5bn to revamp Jamii Bora
Co-operative Bank of Kenya will require up to Sh12.5 billion to revive the fortunes of the acquired of Jamii Bora, now trading as Kingdom Bank.
Fire tops Sh386m fake policy claims
The value of fraud in Kenya’s insurance sector rose 24.4 percent to Sh386.3 million in the year ended June 2019.
How National Oil lost Sh2.3bn in fuel racket
Theft unearthed after the State oil marketer failed to reconcile variances in stocks in 2017 and 2018.
Shilling hits record low of 108.85 on import pressure
The Kenya shilling dropped to a record low of 108.85 units against the dollar on Monday, market data showed, on demand for the greenback by importers.
JKUAT students charged with Sh24.4 million bank theft
Two university students have been charged with stealing Sh24.4 million from NCBA bank and conspiracy to defraud it of another Sh190 million.
Pension claims fall Sh860m on short-lived law
Pension payouts by insurers dropped by Sh860 million last year compared to the previous year following a short-lived law that limited access to employer’s contribution fund, a new report shows.

Business Uganda

Another digital boda boda service joins Uganda market
“Customers can order anything that fits on a motorbike and it will be delivered to them by a specialist rider called a Glover
NSSF partners with dfcu bank to provide agent banking services to members
The move is meant to enable NSSF members to make their social security transactions at the nearest agent in their neighborhood without visiting the Fund offices
Train commuter services to resume next month
Although Uganda Railways Corporation has previously thrown around dates of resumption, it says it has this time put everything in place to resume.
Bank of Uganda recovers from Shs859 billion loss
Whereas the Central Bank recovered from a loss it posted for the period to June 2019, it remains undercapitalised to a tune of Shs453.3b.

Business Tanzania

NMB Bank’s profit jumps 76pc in Q-3
NMB Bank Plc’s cumulative profit before tax jumped by 76 percent in the third quarter of this year (Q-3/2020), propelled by Tanzania’s sustained economic growth momentum despite the outbreak of the Covid-19 pandemic earlier this year.
CRDB pre-tax cumulative profit up 29pc
CRDB Bank Plc reported a 29 percent improvement in profit before tax during the third quarter of 2020, fueled by growths in interest and non-interest income streams as the financial services sector recovers from the Covid-19 pandemic.
Villains: Inflation, depreciation - 2
The ink had barely dried on my piece last Thursday (October 15, 2020) on ‘inflation’ and ‘depreciation’ when I received three responses from readers questioning the questions I raised in that article.
Knowing customers’ needs boosts returns investment
Today, every business has a burning platform: a friction point between their customers’ expectations and offerings that are disrupting their business. The longer they wait to solve it, the more likely it is to wreck their business.

Business Rwanda

What next for flood prone Gisagara region?
Author(s): Michel NkurunzizaOver 1,600 rice farmers in Nyiramageni marshland in Gisagara District are awaiting government bailout to help them recover from disaster-
How fixed savings accounts work
Author(s): Edwin AshimweNormally, when one is seeking an ideal account to receive salaries and funds that could be used to pay bills or cover other expenses, a c
Is counterfeit money increasingly becoming common?
Author(s): Edwin AshimweLast week, Rwanda National Police (RNP) arrested two young men in Rusizi District, on suspicion of possession of coun
How savings groups have led Kigali women to profitable businesses
Author(s): Michel NkurunzizaWomen in Nyamirambo Sector in Nyarugenge District are reaping big from different businesses they ventured into thanks to three created sa

Business Ghana

UK extends GH¢3.34 million support to local pharmaceutical companies
The United Kingdom’s (UK’s) Foreign, Commonwealth and Development Office has launched a GH¢3.34 million coronavirus disease (COVID-19) support programme to help Ghana’s pharmaceutical companies address vulnerabilities in the sector's supply chain. The package, which will be disbursed to local manufacturers of pharmaceutical products over the next 12 months, is part of an intervention to mitigate […]
The future of mobility in a post-COVID World
Covid-19, beyond its tragic trail of destruction in the world, presents opportunities for the transportation industry as it does for the pharmaceutical, technology and consumer industries. In Ghana, like many countries across the globe, COVID -19 has brought the most drastic instabilities to the economy more than anything the country has ever seen and the […]
GJA honours Insurance Commission boss
The Ghana Journalists Association (GJA) has conferred a 'honorary membership' status on the Commissioner of Insurance, Mr Justice Yaw Ofori, at the 25th awards ceremony of the association. This is in recognition of the Commissioner's initiatives which include the introduction of the Motor Insurance Database (MID) and championing the institution of an Insurance Education Fund […]
NBSSI supports 70 young entrepreneurs
About 70 young entrepreneurs in Accra have benefited from an intensive hands-on-skill training in hairdressing, general electricals, welding, barbering and catering to enable them to patronise their chosen vocation. The beneficiaries were handed certificates of completion, materials and equipment to help them start-up their own businesses in order to create jobs. The training which lasted […]

Business Nigeria

Investors blame government for slow capital market development
• Seek investment in critical infrastructure, institutions Capital market investors have blamed the government for the slow pace of the development of the nation's capital market. The experts, who spoke in separate interviews, said the government has not invested in developmental projects, critical infrastructure, and institutions responsible for developing the market. The President, Standard Shareholders […]
Shippers’ Council seeks waiver of demurrage for importers
Following clearing agents outcry against the imposition of demurrage on cargoes that were trapped at the ports during the EndSARS protests, the Shippers Council (NSC), has called on shipping companies to ease the hardship on importers. The Head, Public Relations, NSC, Rakiya Zubairu, in a statement, said: “Nigerian Shippers Council is working with shipping companies […]
Market extends winning streak, as index rises further by 0.28%
As investors continue to reposition ahead of the third-quarter earnings, the Nigerian Stock Exchange (NSE) extended its winning streak to three successive sessions, causing the All Share Index (ASI) to increase further by 0.28 per cent. At the close of transactions yesterday, the ASI appreciated by 80.90 absolute points or 0.28 per cent to close […]
Terminal operators condemn burning of NPA building, want ports reopened
The Seaport Terminal Operators Association of Nigeria (STOAN), has condemned the looting and burning of the headquarters building of the Nigerian Ports Authority (NPA). The Chairman, STOAN, Princess Vicky Haastrup, also conveyed the sympathy of all members to the Board, Management and Staff of the Authority over the incident. The NPA building, located on Marina […]

Business Zim

Zimra exceeds revenue target
The Zimbabwe Revenue Authority (Zimra) says net revenue collections for the third quarter to September 2020 stood at $57 billion; representing a 27.16 percent increase above the quarterly target of $44.83 billion.
Keep tight grip on liquidity: CZI
Monetary and fiscal authorities must maintain an iron grip on the tight liquidity situation to entrench exchange rate and macro-economic stability, the Confederation of Zimbabwe Industry (CZI) says.
Gold price silver lining for RioZim
WITH diversified mining house RioZim’s gold mining operations largely depressed in the third quarter to September 30, 2020, prevailing high gold prices reduced the negative impact of lower volumes of the business.
Stocks dip on surging virus cases, stimulus doubts
Global shares started the week on the back foot, as surging coronavirus cases in Europe and the United States clouded the global economic outlook, while China’s leaders met to ponder the future of the economic giant.