Following its origin from the trade by barter system to the development of a market place, trading has since evolved from the traditional mode of buying and selling which involved …
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Rwanda Forestry Authority in a bid to boost wood industry with new tree species
The Rwanda Forestry Authority (RFA) has selected five tree species with high economic value to boost the wood industry as the country plans to plant 30 million tree seedlings in …
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Nigeria signs deal with Turkish firm to increase energy supply
The Nigerian Bulk Electricity Trading (NBET) Plc says it has signed a partnership deal with Energy Exchange Istanbul (EXIST), a Turkish energy firm, to ramp up energy generation and supply. Over the …
- BusinessBusiness and EconomyEconomySouthern Africa
Transnet announces a deadlock in wage negotiation as strike continuous
Transnet announced on Friday a deadlock in wage negotiations, with two labor unions raising the prospect of a strike that could further cripple the state-owned logistics company and impact Africa’s …
- AfricaAFRICA NEWSBusinessBusiness and EconomyEnergyNewsNigeriaWestern Africa
Nigeria launches energy transition plan
The federal government of Nigeria has launched Nigeria’s energy transition plan as a major pathway in achieving universal energy access by 2030 and a carbon-neutral economy by 2060. Vice-President Yemi Osinbajo, …
- BusinessBusiness and EconomyCentral AfricaRwanda Daily
Milk shortage spirals in Rwanda as price increases
The resident of Gasabo District is one of the many milk consumers feeling the pinch of the limited milk supply, which officials attributed to drought effects on dairy farming output. …
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Central Bank of Egypt collects EGP 100B from local banks
The Central Bank of Egypt (CBE) collected EGP 100 billion from local banks in the weekly open market operations (OMO) auction at a fixed rate of 11.75%, according to data published on …
- BusinessBusiness and EconomySouthern Africa
SARS strike suspended as unions gives negotiation a chance
SARS, The South African Revenue Service has announced that unions have suspended their strike at the tax body and have reported for duty as the wage negotiations process continues. SARS …
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Fitch downgrades Ghana to ‘CCC’ days after poor S&P grading
Fitch, a global rating agency, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘. The downgrade, it said, reflected the deterioration of Ghana’s public finances, …
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Nigeria spends $2.35bn on phone importation
Nigeria spent $2.35bn on telephone importation in three years, according to data from the International Trade Centre. The nation spent $807.95m on importation of phone sets in 2019, $765.57m in …