World Bank President Jim Yong Kim said the lender’s $1 billion pledge to Africa’s Great Lakes region obliges countries including the Democratic Republic of Congo and Rwanda to adhere to a peace accord signed in February.
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.
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.
Vodacom Group Ltd., South Africa’s largest wireless operator, plans to begin operating in three additional countries by the end of 2014 as it seeks to bring data services and smartphones to new markets.
Co. will introduce mobile-banking platform in Mozambique, Lesotho, CEO Shameel Joosub says in interview in Johannesburg. * M-Pesa will one day contribute 15% of group revenue: CEO * Will reintroduce M-Pesa in S. Africa under new model in coming months: CEO * Co. Looking at small bolt-on acquisitions: CFO tells presentation *NOTE: Vodacom FY profit gained 23% in yr to end March *NOTE: M-Pesa already in use in Tanzania, Congo *NOTE: Vodacom in talks to buy Tata Communications’ Neotel unit, a person familiar with the talks said May 17 Link to Company News:VOD LN <Equity> CN <GO> Link to Company News:VOD SJ <Equity> CN <GO>
East African Breweries Ltd., Kenya’s best-performing stock over the past month, is poised to end a 29 percent rally that valued the nation’s biggest company at double that of the benchmark index, according to Contrarian Investing Kenya Ltd. and technical indicators.