Major International Business Headlines Brief::: 23 June 2023

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Major International Business Headlines Brief::: 23 June 2023 

 


 

 


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ü  South Africa: Power Utility Eskom Suspends Head of Security  

ü  Nigeria: India Out of Nigeria's Top-Five Trading Partners

ü  Nigeria: 25m Adult Women in Nigeria Have No Formal Bank Accounts - Study

ü  Tanzania: Govt Offers Maize Farmers Best Prices

ü  Tanzania: Us Injects 12bn/ - in Support of Agriculture Sector

ü  Tanzania: Coffee Contribution to GDP Hits 480bn/-

ü  Malawi: Chakwera Still Hopeful On Securing ECF As IMF Gears to Assess
Malawi June End

ü  Nigeria: APCON Highlights How to Strengthen Nigeria's Marketing Economy

ü  Uganda: Airshow Excites At Opening Day of Uganda's Aviation Expo At
Entebbe

ü  South Africa: Eskom Boss - Expect Stage 8 This Winter

ü  Nigeria: NLC Rejects Planned Electricity Tariff Hike

ü  Kenya: Skyward to Launch Nairobi-Kitale Flights Next Month

 


 

 


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The

South Africa: Power Utility Eskom Suspends Head of Security  

Eskom, the South African electricity power utility, has placed its acting
head of security, Karen Pillay, on precautionary suspension, reports News24.
The suspension is related to an R500 million emergency security contract
awarded to Fidelity Services to investigate coal theft at the utility. It is
reported that pressure from the board led to her suspension, but she is said
to be cooperating with the investigation. The accusation against Eskom is
that proper procurement processes were not followed, but Eskom maintains
that the contract was awarded in accordance with its procurement procedure
and National Treasury directives for emergency procurement. Eskom hired
Fidelity due to information received about a potential risk to its
operations and assets. Pillay joined Eskom in 2004, having previously worked
for The Special Investigating Unit. She started her career in the police.

 

 

Johannesburg Traffic Officers to Wear Body Cameras

 

Johannesburg Metropolitan Police Department (JMPD) spokesperson, Xolani
Fihla, has expressed optimism that traffic officers will be equipped with
body cameras by next year to combat corruption within the department,
reports SABC News. Fihla said the use of body cameras would help in
detecting corruption and also aid in gathering evidence and improving the
conviction rate for traffic law violations.

 

Team South Africa Wins Gold at Special Olympics in Berlin

 

Team South Africa continues to excel at the Special Olympics World Summer
Games in Berlin, Germany by securing two additional medals, reports EWN.
Goitsemodimo Mosepele claimed a gold medal in the 25m freestyle swimming
event, while Cornelia Fowler emerged victorious in the ladies' Open Water
swim, also winning a gold medal. These victories follow Kamogelo Moncho's
earlier success in the men's 5,000m final. The Special Olympics World Games
are renowned as the largest inclusive sports event globally, uniting
thousands of athletes with intellectual disabilities in 26 different sports.

 

-South African news

 

 

 

Nigeria: India Out of Nigeria's Top-Five Trading Partners

Reports from the National Bureau of Statistics indicate that trade between
Nigeria and India has dropped, with the country no longer visible on the top
five trading partners of the country.

 

Daily Trust reports that India, which has been one of Nigeria's trading
partners in recent times, occupied the number one position of Nigeria's top
export destination for a long time.

 

Figures from the NBS show that trade with the country has taken a downward
trend since the third quarter of 2022 with the country dropping to second
and third in Q3 and Q4 of 2023.

 

With crude oil making a large chunk of Nigeria's exportation, India has been
one of the major importers of the commodity but the country has turned to
Russia to import the commodity which it sells at cheaper rate due to the
sanctions imposed on it by G-7 countries led by the United States.

 

 

This sanction is due to the invasion of Ukraine by Russia.

 

Meanwhile, the report titled, 'Commodity Price Indices and Terms of Trade Q1
2023,' showed Netherlands was the top destination for Nigerian goods in the
first quarter of 2023.

 

The report stated that the value of goods exported to the country was to the
tune of N837.6bn representing 12.90% of total exports during the quarter
under review.

 

"The largest exported commodity was petroleum oils and oils obtained from
bituminous minerals, crude worth N778.1bn. This was followed by superior
quality cocoa beans worth N28.5bn, other petroleum gases, in gaseous state,
valued at N18.8bn."

 

On the other hand, the product Nigeria imported from the country during the
period is motor spirit, ordinary, valued at N472bn, followed by gas oil
valued at N17.3bn, other lubricating oils meant to be mixed, valued at
N17.2bn and precious metal valued at N6.1bn.

 

The second export partner is the United States, with goods valued at
N579.3bn accounting for 8.93 per cent of total export.

 

This is followed by Spain with goods worth N488.1bn accounting for 7.53 per
cent of total exports, with the largest export commodity, petroleum oils and
oils obtained from bituminous minerals, crude, worth N243.2bn. This was
followed by natural gas valued at N226.5bn and Urea, N7.5bn and others.

 

The fourth is France, purchasing goods worth N487.3bn or 7.51 per cent of
total exports in the period under review.

 

The fifth on the list is Indonesia with goods worth N456.6bn accounting for
7.04 per cent of total export.

 

-Daily Trust.

 

 

 

Nigeria: 25m Adult Women in Nigeria Have No Formal Bank Accounts - Study

A study jointly undertaken by Genesis Analytics and Commissioned by the
Gender Centre of Excellence in close collaboration with the Central Bank of
Nigeria, CBN, has revealed that 25 million adult Nigerian women are unbanked
and over 16 million rural women rely exclusively on informal financial
services.

 

The study noted that a five percent gender gap still exists in Bank
Verification Number, BVN, enrolment and a 10 percent gender gap in enrolment
rates.

 

The study also showed that the value of loans women borrow from formal
institutions declines after they reach the age of 45.

 

 

The report stated: "Unlike comparator countries in Africa, Nigeria's gender
gap is widening. Countries such as Kenya, South Africa, Tanzania, and Uganda
are gradually achieving gender parity in financial inclusion. The relative
gender gap for Nigeria, on the other hand, stands at eight percent, placing
Nigeria below its peers.

 

"In addition to commercial banks, women rely on other formal institutions
for the provision of financial services.

 

"The EFInA A2F survey indicates that other formal institutions account for 6
percent and informal Financial Service Providers (FSPs) account for 15
percent of women's banking status. Combined, this suggests an exclusion rate
of 40 percent. Compared to the male exclusion rate of 32 percent, leaving a
gender gap of eight percent.

 

"The value of loans borrowed from formal institutions by women decreases
after they reach the age of 45. "Compared to men who continue to have loans
of higher value as they age, women borrow less, which likely suggests that
younger women are most likely to access larger, formal loans."

 

-Vanguard.

 

 

 

Tanzania: Govt Offers Maize Farmers Best Prices

Dodoma — THE Speaker of Parliament, Dr Tulia Ackson, has told Members of
Parliament to advise maize farmers in their areas to sell their crops to the
National Food Reserve Agency (NFRA), which provides better than prevailing
market prices.

 

She issued the call in the National Assembly on Thursday after the Minister
for Agriculture, Mr Hussein Bashe, said NFRA buys maize at 800/- per
kilogramme in regional centres and 600/- per kilogrammes in peripheral
areas.

 

"Farmers should be given government answers that maize are bought at 800/-
per kilogramme," she said following a suggestion by a Member of Parliament
for Mbozi, George Mwenisongole (CCM) that the House suspend activities to
discuss plummeting maize prices due to what he claimed to be restrictions in
issuing of food crop export permits.

 

 

The Mbozi legislator said maize prices had gone down to 15,000/- per a 100kg
bag.

 

Agriculture Minister Bashe said the government had provided 320bn/- to NFRA
for buying maize and rice as the crop buying season began on Thursday.

 

He said the indicative price for maize was 800/- per kilogramme, which
translates to 80,000/- per bag in Sumbawanga, Mbeya, Njombe and 600/- per
kilogramme in peripheral areas which translates to 60,000/- per bag.

 

The minister said the government has not banned maize export but requires
exporters to obtain export permits, TIN numbers and food safety and quality
certificates.

 

 

"No trader who complied with the procedures has been denied an export
permit. Over 200,000 permits were issued yesterday. What we banned is for
foreign traders to go into the villages and buy straight from farmers," he
said.

 

He said foreign traders were allowed to buy grains through locally
registered companies.

 

They could also open and register a local office in Tanzania that will deal
with their exports, and present a tax clearance certificate before they are
allowed to export the grain, he said.

 

The minister said on Tuesday that food crop export permits will be issued
online from July 1st, this year, to ease export procedures after exporters
claimed that the existing process was cumbersome.

 

He said the food crop export permits system would change from manual to
online following concerns over cumbersome procedures involved in obtaining
the permits.

 

 

"The permit issuing system will change. Instead of issuing the permits
manually, we will begin to issue them online. All (food crop) export permits
will be issued online from July 1st this year," the minister announced when
Lupembe Member of Parliament, Edwin Swale (CCM) was contributing to the
2023/24 government budget.

 

The Lupembe lawmaker had bemoaned red tape in obtaining food export permits
and said exporters were subjected to unnecessary hassles.

 

"There is red tape in obtaining (food crop) export permits. Exporters have
to go through unnecessary hassles to obtain the permits," said the
legislator, noting that maize prices were declining because of the problems
in exports.

 

Tanzania is one of major maize and rice exporters to Kenya and other East
and Central African countries. However, food crop exporters are required to
obtain food crop export permits from the Ministry of Agriculture except
those which are regulated by boards and those which are perishables.

 

Minister Bashe said also that the National Food Reserve Agency (NFRA) has
begun buying maize from farmers and was offering competitive prices.

 

The Ministry of Agriculture announced on Tuesday that crop buying this
harvesting season kicked off yesterday and NFRA would buy 200,000 tonnes of
maize and 200,000 tonnes of rice.

 

According to the announcement, NFRA will open centres at Songea for Ruvuma
farmers, Makambako for Njombe and Iringa farmers, Songwe for Songwe and
Mbeya farmers and Sumbawanga for Rukwa and Katavi farmers.

 

Other centres will be opened in Dodoma for Dodoma and Manyoni farmers,
Arusha for Arusha and Manyara farmers and Shinyanga for Tabora and Kigoma
farmers.

 

Rice will be bought at NFRA centres in Iringa, Morogoro, Songwe, Mbeya and
Tabora regions, the announcement further shows.

 

Farmers could take their crops to the buying centres on their own, through
their Agricultural Marketing Cooperative Society (AMCOS) or agents, it said.

 

-Daily News.

 

 

 

Tanzania: Us Injects 12bn/ - in Support of Agriculture Sector

Arusha — THE United States government is injecting 5 million US dollars
(about 12bn/-) in support of Tanzania's food security.

 

Channeled through the United States Agency for International Development
(USAID), the sum is part of a whopping 14 million US dollars (about
33.5bn/-) geared towards supporting Tanzanian farmers to obtain access to
technology, training to enable them cope with the ever changing climate
patterns.

 

Speaking here on Thursday, an Administrator with the world's premier
international development agency Samantha Power, said the support will also
enable Tanzanian farmers avoid food waste, amidst climate change.

 

 

"Today's announcement comes on top of 14 million US dollars that we have
invested in the agricultural sector here in Tanzania in the last nine
months," the USAID administrator explained.

 

Ms Power further acknowledged Tanzania's commitment towards the role of
young female smallholder farmers in transforming the agricultural sector.

 

Ms Power further hinted that the US government was exploring ways of
supporting Tanzania in establishing a fertilizer hub.

 

"One of the things that USAID is supporting is the government's effort to
potentially invest here in a fertilizer hub because of a desire not to be
dependent on importing fertilizer from other parts of the world, given what
we've seen over the last year or two with those increased fertilizer
prices," she disclosed.

 

According to Ms Power, USAID is currently sponsoring some assessments about
the best fertilizer to opt for in a bid to make Tanzania a reliable food
exporter.

 

 

"That is already happening with avocados, which are now going to the
European Union to India and to elsewhere. We are excited for that to happen
with other produce, other fruits and vegetables and other crops. But we're
also very intrigued by the idea of fertilizer potentially being something
that helps build food security resilience, not only in Tanzania," she added.

 

In her rejoinder, Tanzania Horticulture Association (Taha) Chief Executive
Officer Jacqueline Mkindi reiterated the apex private sector member based
organization's commitment in working with USAID in taking the horticultural
sector to greater lengths.

 

USAID is an independent agency of the US federal government that is
primarily responsible for administering civilian foreign aid and development
assistance.

 

-Daily News.

 

 

 

Tanzania: Coffee Contribution to GDP Hits 480bn/-

Dodoma — THE coffee sector is currently leading other sectors in the
Ministry of Agriculture, contributing over 200 million US dollars (almost
480bn/-) in the country's Gross Domestic Product (GDP), the Tanzania Coffee
Board (TCB) has confirmed.

 

Board Chairperson, Prof Aurelia Kamuzora spoke of the encouraging
development during a brief interview with the 'Daily News' on the sidelines
of the 13th meeting of coffee stakeholders held in Dodoma yesterday.

 

The meeting drew coffee farmers and all stakeholders involved in the coffee
business value chain, where several presentations on how best the country
can improve local and international coffee business were made.

 

 

During an interview, the TCB Chairperson said that her board was
implementing a strategic plan which was in line with the ruling party CCM
election manifesto 2020-2025, which directs that the country should produce
at least 300,000 tonnes of coffee come 2025.

 

"In the previous years, we were producing 68,000 tonnes but currently the
figure has been hiked to 82,000 tonnes, therefore, we are quite sure that
the target will be met," she insisted.

 

According to her, TCB was implementing various strategies that are aimed at
seeing the sector contributing more in the country's economy.

 

"We are also making sure that coffee growers in the country are happy
especially on the competitive market by putting up the best transparent
price," added Prof Kamuzora.

 

According to her, the government wanted to see all farmers producing coffee
in the country working with the highest morale after selling their products
and getting good income.

 

At the event, Cafe Africa Tanzania Chief Executive, Samora Mnyaonga, said
his organisation was working to sensitize coffee farmers in Kagera Region,
so that they can intensify value addition in their products.

 

He said that his association in collaboration with the Netherlands based
company, JDE--a leading tea and coffee company- had managed to create
awareness, amongst coffee growers in the lake zone region.

 

-Daily News.

 

 

 

Malawi: Chakwera Still Hopeful On Securing ECF As IMF Gears to Assess Malawi
June End

President Dr Lazarus McCarthy Chakwera says Malawians should continue having
hope that his government will secure Extended Credit Facility (ECF) despite
the International Monetary Fund (IMF) rating the country poorly some weeks
ago.

 

Malawi is reportedly owing AFREXIMBank and Trade and Development Bank (TDB)
a total of $850 million [about K850 billion], which the IMF wants to be
squared before committing to the ECF.

 

At the recent AFREXIMBank in Accra, Ghana, last week, Chakwera pleaded with
the bank to consider a debt-restructuring plan that would allow Malawi to
secure ECF.

 

 

His plea follows an announcement by IMF that the next assessment for its
readiness for the ECF is due end of June 2023.

 

Meanwhile, President Chakwera has assured Malawians that his government is
addressing issues IMF highlighted in its report to ensure that the country
secures the facility.

 

He said ECF would help in restoring Malawi's repayment capacity by
rebuilding reserves and reducing the macroeconomic imbalances the country is
suffering from.

 

"Our engagement with you regularly over the past few months was, therefore,
in pursuit of a debt restructuring mechanism that would allow us to fully
restore debt sustainability and unlock an ECF for Malawi that would
eventually yield dividends for both Malawi and the bank," Chakwera told
journalists.

 

AFREXIMBank has since assured Chakwera that it is in solidarity with
Malawi's pursuit of the debt restructuring mechanism to secure the ECF.

 

"We will do everything we can to resolve the issues and it is always
refreshing listening to your commitment and understanding of the issues we
are dealing with, Mr President," said the bank's chief.

 

-Nyasa Times.

 

 

 

Nigeria: APCON Highlights How to Strengthen Nigeria's Marketing Economy

The director-general of the Advertising Practitioners Council of Nigeria
(APCON), Dr Olalekan Fadolapo has disclosed various strategies needed in
strengthening Nigeria's marketing economy.

 

According to him, an enforceable standard of practice needs to be
established to provide an acceptable industry-wide rule of engagement which
will cut across the interests of several sectors in the industry, especially
where it is understood that a flop in one sector of the marketing ecosystem
is a potential catastrophe for the other.

 

Stating this yesterday at the National Institute of Marketing of Nigeria
(NIMN)'s 2023 annual marketing conference which was held at Fraser Suites,
Abuja, he said that legality and decency in marketing are vital elements
that the industry cannot manage to compromise adding that the Nigeria
marketing industry is encouraged to support series of reforms aimed at
ensuring responsible marketing practices.

 

 

He noted that the theme of the conference, The Role of Marketing and Ethics
in Nation Building is coming at a time the Federal Government is re-jigging
and strengthening the economic variables for a stronger economy.

 

Olalekan further stated NIMN has formidably and consistently shaped the
quality of marketing in Nigeria by the every productive and pragmatic
programmes beneficially structured to enhance and increase activities in the
industry and has also immensely contributed and advanced the growth of
Nigeria's economy in her own way.

 

He explained that the role of marketing cannot be neglected or
underestimated by any economy that genuinely seeks to develop and sustain
the development of her economic progress.

 

Speaking at the event, the NIMN president, Mr Idorenyen Enang noted that the
conference is a gathering of professionals, who are present to provide
thought leadership into how the nation can be stirred and built using
marketing and ethics as essential catalysts.

 

He said, "As marketers, we just hope this will be a great opportunity for us
to let the world know that we can do it, one thing I will say, I will echo
the keynote speaker's word that a time will come when Mr president,
governors will not be carrying journalist as spokesperson, they need
professional brand communicators and specialist because people are brand,
you need people that would not just sell in the country, sell in the brand
but understand the ethics of it.

 

"We need professionals to sit down and craft a strategy to be able to work
in the entire system and then implement it using the vehicle of the media to
drive it."

 

-Leadership.

 

 

 

Uganda: Airshow Excites At Opening Day of Uganda's Aviation Expo At Entebbe

Revelers were on Thursday left excited as Uganda's aviation expo organized
by the Uganda Professional Pilots Association and the Uganda Civil Aviation
Authority(UCAA) kicked off at Entebbe International Airport.

 

Members of the public were on the opening day treated to acrobatics by
pilots from the Uganda Police aviation wing as their choppers made rounds
within the skies to ululations and cheers from among others, learners from
various institutions of learning.

 

The Uganda People's Defence Air Forces(UPDAF) also excited many when the
SU-MK30 jets make several maneuvers at Entebbe Airport during the airshow.

 

 

There were also joy flights for members of the public around Kampala where
the aircraft would fly at low height to enable them view several features
including Namboole stadium and the capital Kampala among other.

 

Speaking at the opening ceremony, the Prime Minister, Robinah Nabbanja urged
UCAA to devise all means to popularize air transport among members of the
public.

 

"It is high time you provided as much information as possible to Ugandans
and also share with them the career opportunities in this aviation sector. I
hope that members of the public, especially those who have had chance to fly
for the first time at this expo realise that everyone can travel by air,"
Nabbanja said.

 

The Prime Minister said it is high time Ugandans started using air transport
services and encourage others to do the same.

 

She said the country currently has 13 aerodromes in different parts of the
country in a bid to encourage domestic flights, adding that in the next
financial year, six of these aerodromes will be upgraded.

 

"We have domestic air operators in the country. Therefore, it shouldn't be
only foreigners or tourists to fly to the various destinations around the
country but all Ugandans. You need to fly and see what happens in the
aviation sector."

 

UCAA Director General, Fred Bamwesigye said the expo and the airshow are
meant to demystify the country's aviation sector.

 

"Up to now, aviation services are seen by many as being for the privileged
but we want to change this. We want to take the aviation sector to the
population so they can associate with it. We want to bring aviation to the
public other than keeping it up there where many people are not reaching,"
Bamwesigye said.

 

He said in a bid to continue demystifying the aviation sector, aviation
expos and airshows will soon be held in various parts of the country where
there are aerodromes.

 

"We want to change the status quo where aviation is categorized as being for
only the rich and by extending the airshows and aviation expo to various
parts of the country where we have aerodromes like Arua, Mbarara, Jinja,
Gulu, Kotido, Kasese and Lira among others, will serve the intended purpose
of bringing aviation to the people," the UCAA Director General said.

 

According to, Capt. Aziz Sentamu, the president of the Uganda Professional
Pilots Association(UPPA), the umbrella body for pilots and flight engineers,
the expo is also meant to cast light on the various careers that members of
the public cant take on in the aviation sector.

 

"Government has invested heavily in this aviation industry but we realized
not many people know about the career opportunities in this sector. We
thought this is the best time to sensitize the public about the aviation
sector. For example when you talk of the aviation, many only think of pilots
but thee are many jobs that people don't know of. We want to demystify that
with the aviation expo," said Capt. Sentamu.

 

This year's aviation expo and airshow will run up to Saturday, June, 24 at
Entebbe Airport.

 

 

 

South Africa: Eskom Boss - Expect Stage 8 This Winter

South Africans may be enjoying the best two weeks of 2023, with the lowest
levels of load shedding so far recorded in winter. But that joy will be
short-lived, according to Eskom boss Vally Padayachee.

 

When Eskom introduced Stage 6 load shedding in the summer months, the nation
feared the worst, with talks of Stage 10 and even a collapse of Eskom's
fragile grid.

 

But Padayachee says the winter of our discontent is still coming.

 

"We are not out of the woods yet," he said this week.

 

Padayachee is the current head of the National Rationalised Specifications
Association and reportedly one of three candidates shortlisted for the
position of Group CEO.

 

 

He totally ruled out the possibility of the grid collapsing, saying load
shedding was not the only available tool to manage Eskom's grid.

 

But even if new generating capacity is returned to the grid, the power
utility is expected to implement lower stages of load shedding for another
two to three years.

 

"We must just give credit to the Eskom generation team, with the difficult
circumstances, they do quite well," he said.

 

"Because I can assure you that, with our analyst's perspective and as a
professional engineer myself, we are not out of the woods yet.

 

"We haven't gotten into the middle of winter, which is the third week of
July or the first week of August. I can tell you now that we cannot
guarantee that we wouldn't go beyond Stage 6 or beyond Stage 8."

 

In one of the busiest weeks for Eskom bosses, they appeared before
parliament's Standing Committee on Public Accounts and secured approval for
the state to take over R254 billion, or Eskom's R422 billion debt.

 

Padayachee told Newzroom Afrika that even with new generating capacity from
renewable energy sources, lower stages of load shedding will continue for
another two years.

 

Meanwhile, President Cyril Ramaphosa told a gathering of the New Global
Financing Pact Summit in Paris, France, that South Africa's Just Energy
Transition will cost an estimated R1.8 trillion.

 

-Scrolla.

 

 

 

Nigeria: NLC Rejects Planned Electricity Tariff Hike

The organised labour yesterday kicked against the plan by the federal
government to increase electricity tariff describing it as callous and
insensitive to the well-being of consumers, especially the poor Nigerians.

 

The plan to increase electricity tariff by 40 per cent is expected to start
by July 1, 2023.

 

Although the federal government explained that the rationale for the
increment was in response to the over 100 per cent increase in the pump
price of premium motor spirit (pms) with details showing a movement in
inflation from 16.9 per cent to 22.41 and a shift in exchange rate from N441
to N750.

 

 

But the Nigeria Labour Congress (NLC) in a statement by its national
president, Comrade Joe Ajaero in Abuja said the labour centre does not
believe that these figures are a justification for this reckless proposed
tariff increase.

 

The labour centre advised the federal government to shelve the plan.

 

Ajaero said the issue of capacity to pay and quality of service delivery are
not only germane but superior to any rationalisation by market logic.

 

"The plan to increase electricity tariff by 40 by July 1st is both
insensitive and callous and reflects an organised indifference to the
well-being of consumers, especially, the poor ones.

 

The issue of capacity to pay and quality of service delivery are not only
germane but superior to any rationalisation by market logic, the service
providers in spite of sundry support have not been able to meet the
threshold of 5000 megawatts", he said in the statement.

 

He added, "Coupled with this, there have been surreptitious increases
without notice in violation of statutes, the inherent risk in the new regime
of tariff is that there is no control, implying that by August, consumers
will pay new rates.

 

The other risk is that by the time other product or service-rendering
entities come up with their new prices or rates, the ordinary person would
have been compacted into dust".

 

According to the labour leader, "We would want to advise apostles of the
Market who have called NLC all sorts of names to check their conscience, the
rate at which they are going is highly combative and combustible.

 

With consideration of payment of school fees in tertiary institutions and
increases in privately-owned ones in addition to other costs/tariffs on the
way, life in Nigeria could truly be Hobbesian, in light of this, our advice
is that this proposed tariff hike should be shelved for our collective
safety."

 

-Leadership.

 

 

 

Kenya: Skyward to Launch Nairobi-Kitale Flights Next Month

Nairobi — Low-cost carrier Skyward will introduce flights between Nairobi
and Kitale as demand on the route grows.

 

The flight will start at Wilson Airport in Nairobi every day.

 

Currently, it operates flights to Mombasa, Diani, Lamu, Malindi, Lodwar,
Eldoret, and Kakamega.

 

It will deploy a Dash8-Q100 aircraft type and charge Sh6,900 on a one way
route.

 

Skyward's expansion comes at a time when the local and international
aviation industries are recovering from an induced impact caused by flight
cancellations and the closure of borders to prevent the spread of the virus.

 

Only in December did the carrier introduce flights between Nairobi and
Kakamega, reducing travel time between the two cities.

 

The opening of the new corridor offers the airline a huge market base in
Counties such as Kakamega, Vihiga, and Busia, among others.

 

-Capital FM.

 

 

 

 

 

 

 

 

 

 

 


 


 


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INVESTORS DIARY 2023

 


Company

Event

Venue

Date & Time

 


 

 

 

 

 


 

 

 

 

 


 

 

 

 

 


 

Heroes’ Day

 

Aug 14

 


 

Defence Forces Day

 

Aug 15

 


 

 

 

 

 


 

 

 

 

 


Companies under Cautionary

 

 

 


CBZH

GetBucks

EcoCash

 


TSL

Econet

Turnall

 


First Capital Bank

ZBFH

Fidelity

 


Zimplow

FMHL

 

 


 

 

 

 


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DISCLAIMER: This report has been prepared by Bulls ‘n Bears, a division of
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been compiled from s believed to be reliable, but no representation or
warranty is made or guarantee given as to its accuracy or completeness. All
opinions expressed and recommendations made are subject to change without
notice. Securities or financial instruments mentioned herein may not be
suitable for all investors. Securities of emerging and mid-size growth
companies typically involve a higher degree of risk and more volatility than
the securities of more established companies. Neither Faith Capital nor any
other member of Bulls ‘n Bears nor any other person, accepts any liability
whatsoever for any loss howsoever arising from any use of this report or its
contents or otherwise arising in connection therewith. Recipients of this
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investigation into the business, financial condition and future prospects of
any companies referred to in this report. Other  Indices quoted herein are
for guideline purposes only and d from third parties.

 


 

 


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