Regional beer giant East African Breweries Ltd is expected to spend at least $18.7 million to increase its stake in Serengeti Breweries, signaling the company’s growing faith in future prospects of the Tanzanian market. EABL has been seeking to plug revenue holes punched by tight regulations and increased taxes in...
Category: Business
Ethiopian Airlines Suspends Flights To 80 Destinations
The Ethiopian Airlines announced on Sunday that it had suspended passenger flight to over 80 destinations around the world as the COVID 19 infection number hit over 700,000 around the world. Some of the major competitors like Turkish Airlines and Emirates have suspended flights. But there are also those that...
Condom Shortage Looms As Coronavirus Stops Production
A global shortage of condoms is looming, the world’s biggest producer has said, after a coronavirus lockdown forced it to shut down production. Malaysia’s Karex Bhd makes one in every five condoms globally. It has not produced a single condom in its three Malaysian factories for more than a week...
World Bank, IMF Call For Debt Relief
With immediate effect and consistent with national laws of the creditor countries, the World Bank Group (WBG) and the International Monetary Fund (IMF) are calling on all official bilateral creditors to suspend debt payments from International Development Association (IDA) countries that request forbearance. This follows a joint statement to the...
Kenya’s Flowers Left To Rot Amid Coronavirus Slowdown
On a Kenyan flower farm, workers stick to their daily schedule of cutting some of the world's finest roses. But instead of flying them to Europe or the Middle East for weddings, funerals and romantic gestures, they take them to an improvised dump where tens of thousands of delicate blooms...
South African Airways CEO Retires
The Board of Directors at South African Airways (SAA) announced today that it has accepted the request from Zuks Ramasia, SAA Acting CEO, for early retirement. Her last date of employ will be 14 April 2020. “On behalf of the Board, I would like to thank Zuks for her leadership,...
Air Tanzania Suspends Intl Flights
National carrier Air Tanzania Company Limited (ATCL) announced suspension of all its international flights in response to Covid-19 outbreak effective March 25. Earlier on in the day, ATCL managing director, Ladislaus Matindi told The Citizen that the company has reached the decision to suspend flights to Mumbai, Entebbe, Bujumbura, following...
Kenya Airways Flies Domestic After Intl Flight Ban
Kenya Airways will now only fly domestic routes as it moves to adhere to the international flights ban imposed by the government on Sunday in its efforts to curb the coronavirus spread. The airline's chief executive officer Allan Kilavuka said all international services will be suspended effective midnight March 25,...
South Africa Orders Price Controls
The government of South Africa announced strict new regulations to prevent price gouging during the coronavirus crisis. According to new regulations as part of the Disaster Management Act, signed by minister of trade and industry Ebrahim Patel on Thursday, companies are not allowed to hike prices for a list of...
Uhuru Warns Traders Against Price Hikes
President Uhuru Kenyatta has fired a warning to unscrupulous traders taking advantage of the coronavirus pandemic to enrich themselves, saying that their days are numbered. The president, while speaking at State House on Wednesday, said that it is criminal for traders to hike prices just to make supernormal profits from...