The lifting of the covid-19 restrictions and subsequence opening of the tourism sector to the island nation is fuelling a rise in the value of the Seychelles rupee against all other currencies in Africa, making it among the top 10 performing currencies in Africa this year, according to a financial news outlet. Read more.
The Board of Directors of the African Development Fund a subsidiary of African Development Bank approved a loan of around $116 million to the Tanzanian government to upgrade a 160-km Mnivata-Newala- Masisi road corridor in the southern part of the country. Read more.
Seychelles, an archipelago of Africa in the western Indian Ocean, is one of the first destinations to reopen its borders to tourism irrespective of visitors' vaccination status amid the covid-19 pandemic. Read more.
The Governor of the Central Bank of Seychelles Caroline Abel addressed the Businesses community in Seychelles on the ambitious move by central bank to improve the accessibility of loans and digitalization a move which will see the country’s economy growing towards meeting some of its macro-economic objectives by 2023. Read more.
Tanzanian private sector, has revealed plans of investing US$1.1 million in the construction of a dam and setting up irrigation system to boost the output of maize and macadamia nuts production. Read more.
Mozambique Ministry of Industry and Commerce has repudiated on the acts some companies which are demanding a readjustment in the sale price of cement in the south of the country are not even in the cement industry.
Seychelles financial and monetary authorities are discussing the future use of cryptocurrency in the country following the international community raising the red flag on OneCoin pyramid scheme. Read more.
THE Industrial and Commercial Bank of China (ICBC) has not reneged on an agreement to finance the US$3 billion coal fired power plant Zimbabwean firm, RioZim, wants to develop in Sengwa, Gokwe fuelling speculation in the international media and business community that the deal have collapsed.
The Financial Crime Investigation Unit of the Seychelles Police says it is investigating OneCoin pyramid scheme which involves transaction of cash and property worth over $10 billion. Read more.
Cabo Delgado’s business community is confident about the gradual return to sanctuary and the reopening of access roads to areas affected by terrorism, but expects government help to rebuild destroyed infrastructure.
Democratic Republic of Congo’s government is currently proceeding with the process of reviewing its $6 billion “infrastructure-for-minerals” deal with Chinese investors as part of a broader examination of mining contracts. Read more.
Seychelles’ Broadband network and digital services will soon get a boost from a new cable system to be leased by Seychelles-based telecommunications provider Intelvision Limited with support from IFC. Read more.