Paul Richardson News
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Cotton output in Tanzania, Africa’s fourth-biggest producer of the fiber, may drop 30 percent this year after lower prices discouraged growers and pesticide distribution was curbed, the Tanzania Cotton Board said.
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The World Bank pledged $1 billion in new funding for the African Great Lakes region to help increase trade, expand road networks and boost electricity generation.
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The Forest Stewardship Council ended its contracts with Danzer Group after accusations that the Swiss wood-processing company’s former subsidiary engaged in human- rights abuses in the Democratic Republic of Congo.
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Tanzania plans to boost cargo volumes by 80 percent over the next two years at the Dar es Salaam Port by adding railway links and upgrading facilities to improve efficiency, Transport Minister Harrison Mwakyembe said.
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The Daily Monitor, Uganda’s biggest independent daily newspaper by readership, accused the government of harassment after police raided its offices and halted broadcasts by two affiliated radio stations.
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M23 rebels and soldiers from the Democratic Republic of Congo’s army clashed today on the outskirts of Goma, the capital of North Kivu province, army spokesman Colonel Olivier Hamuli said.
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National Bank of Kenya Ltd. will raise as much as 10 billion shillings ($119 million) in a rights offer to fund an expansion plan as it seeks to quadruple revenue by 2017, Managing Director Munir Sheikh Ahmed said.
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Kenyan coffee prices climbed for a second straight week at an auction yesterday as buyers replenished their inventories.
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A subsidiary of Rio Tinto Group said it will cut at least 70 jobs in Mozambique this year after booking an operational loss in the nation last year.
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Coffee exports from Uganda, Africa’s second-biggest exporter of the beans, rose year-on-year in April after a post-election dispute was resolved in neighboring Kenya, its gateway to the sea.
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