This is an exclusive new report designed to give you an overview about Africa countries tackling Economic, Political, Stock Market and Company transactions issue.
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- The Central Bank of Kenya (CBK) reported that there was 963.7 BN KES (9.5 BN USD) worth of outstanding Treasury bills by May 24, representing 34.7% of total domestic debt, down from the record high of 1.003 TR KES (9.9 BN USD) on May 3 that represented 36.7% of total domestic debt.
- Kenya remains the global leader in mobile banking, noting that 72% of the banking population use their mobile phones to access their accounts, nearly three times the global average that stands at 25%.
- The Central Bank of Kenya (CBK) unveiled the rules that will guide the replacement of the 1,000 Shilling notes, which accounts for 83% of the 540 BN KES (5.3 BN USD).
- The Bank of Tanzania has frozen exchange of Kenyan bank notes with immediate effect which means, anyone with old Kenyan notes in the two countries will have to carry them to Kenya to replace them for new ones subject to CBK's guidelines.
- The prices of prime residential properties in Nairobi declined by 6.5% in the 12 months to March 2019 which is the fastest reduction in values in a 12-month period that Nairobi has ever recorded.
- Uganda will invest 205 MM USD (about 768 BN KES) in restoring an old railway line linking Kampala to Malaba on the Kenyan border following delays in securing funding for the standard gauge railway.
- The Zambian Minister of Commerce and Industry stated that the Zambian government will not rush into signing the African Continental Free Trade (AfCTA) until stakeholder consultation was complete.
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- The mining industry reporting from 2017 to 2019 indicates a trend of increasing paid-out political risk insurance claims in Africa. Risk is partially driven by high exposure to commodity prices, as in Zambia, which has altered mining royalty laws five times since 2014 following copper price fluctuations.
- U.S.-Africa Business Summit will be held in Mozambique by hosting more than 1,000 U.S. and African private sector executives, international investors, senior government officials and multilateral stakeholders. The Summit's theme is "Advancing a Resilient and Sustainable U.S.-Africa Partnership".
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Major Companies Transactions
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Dubai Office:
Office No. N 415, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel:
+97142820301
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Cairo Office:
Z
epter Office Building
S5-6 ,
Area 5, District 1, 5th Settlement,
New Cairo, Egypt.
P.O. Box:
1147
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Kenya Office:
Block C, Ground Floor, Fortis Office Park Muthangari Dr Westlands, Nairobi, Kenya
Tel: +254 20 5148174
P.O. Box: 66488-00800
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Copyright © 2019. All Rights Reserved.
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