Brian Kithinji, Author at Mansa

Ethiopia postpones planned privatization of Ethiopian Airlines

ByBrian Kithinji October 15, 2020October 19, 2020

Ethiopia’s Finance Ministry has postponed the planned privatization of Africa’s most profitable airline – Ethiopian Airlines, as it aims to maintain current capacity of its flagship carrier. In a press conference, Minister of Finance Ahmed Shed said, “With the currency efficiency and competitiveness, the plan of the government is to make Ethiopian airlines more strong….

Rwanda to earn $10 million per hectare from medical cannabis exports

ByBrian Kithinji October 15, 2020October 15, 2020

Rwanda’s government has confirmed that it is in discussions with four American and European companies about processing cannabis for export, in order to meet increasing global pharmaceutical demand for the drug. Officials announced that the move, if successful, would boost the state’s revenues as it battles the effects of coronavirus pandemic. Rwanda is the latest…

Kenyan Manufacturers Body extends war on plastics to producers

ByBrian Kithinji October 15, 2020October 15, 2020

Kenya Association of Manufacturers (KAM), has launched the Strategic Business Plan for the establishment of a Plastic Producer Responsibility Organization (PRO) in Kenya. The PRO will drive collective Extended Producer Responsibility (EPR) in the country, whereby a producer’s responsibility for a product is extended to the post-consumer stage of a product’s life cycle, whilst turning plastic waste into valuable resources. The Strategic…

South Africa’s economy to contract by 8%, IMF projects 3% growth in 2021

ByBrian Kithinji October 14, 2020October 14, 2020

South Africa’s economy will contract by 8% in 2020, though the International Monetary Fund projects a 3% growth in the 2021 financial year in its World Economic Outlook report. The IMF’s 2021 growth forecast is 0.5% less its previous estimate released in June, and in line with projections by the Ministry of Finance. President Cyril…

IATA and ACI warn of looming aviation sector collapse

ByBrian Kithinji October 13, 2020February 4, 2021

As airlines worldwide struggle to stay afloat due to the coronavirus pandemic, the International Air Transport Association (IATA) and the Airports Council International (ACI) World have urged governments to use testing as a means to safely re-open borders. Both organizations are also calling to for the re-establishment of global connectivity to avoid the systemic collapse…

1 | 50 | Government | News | Uncategorized

Mozambique to receive EU aid in combating increased terror activity

ByBrian Kithinji October 13, 2020October 13, 2020

Mozambique will receive support from the European Union in tackling increased terror attacks in the country’s north. The EU Ambassador to Mozambique, Antonio Sanchez Gaspar announced the offer, while insisting that the aid will be more in terms of training, logistics and medical services to the Mozambican Defence Forces. “The government of Mozambique has asked…

The new “Singapore?” Ghana’s economic success sets model for sub-Saharan Africa

ByBrian Kithinji October 13, 2020October 13, 2020

Ghana has officially become the first country in sub-Saharan Africa to achieve the Millennium Development Goal 1, which is the target of halving extreme poverty. The success stories don’t end there though. According to a report from the Ministry of Finance, the country became a middle income economy in June, and with an economic freedom…

Rwanda’s Kigali International Finance Centre inks financial pact with French Bpifrance

ByBrian Kithinji October 13, 2020October 13, 2020

Rwanda’s Kigali International Finance Centre (KIFC) has signed a financial agreement with French public investment bank Bpifrance that sets the path for the two public institutions to support and promote business exchange and economic cooperation between both nations. The agreement is particularly a major milestone for the Kigali International Finance Centre as it aims to…

Zambia set to default external debt

ByBrian Kithinji October 13, 2020October 12, 2020

Zambia is set to default on its external debt when the copper producing nation misses $118 million in interest payments on Eurobonds due from October 14 to March 2021. The Southern African country is banking on a comprehensive debt restructuring plan but without help from its largest creditor, China, as well as a substantial macroeconomic…

Nigeria Vice President denies government will issue Eurobonds

ByBrian Kithinji October 12, 2020October 11, 2020

Vice President Yemi Osinbajo has denied Nigeria will issue Eurobonds due to their hefty expenses and instead look for alternative ways to raise funds to support the economy as it battles a looming recession. In a news conference, Osinbajo said, “We are not likely going to explore again the Eurobond market because we are trying…

Denel requests South Africa’s finance ministry for $231 million bail out

ByBrian Kithinji October 12, 2020October 11, 2020

South African state owned defence company, Denel, has requested for $231 million bail out from the National Treasury over the next three years. Denel manufactures military equipment for South Africa’s armed forces, and has been embroiled in a financial crisis made worse by the ongoing coronavirus pandemic. The firm has struggled to pay salaries of…

South Sudan eyes currency change to ease economic woes

ByBrian Kithinji October 12, 2020October 11, 2020

South Sudan will change the country’s currency, in a move the government says is aimed at improving its beleaguered economy. Information Minister Michael Makuei Lueth broke the news at a press conference in the capital Juba, following a cabinet meeting that approved the change. “The cabinet has decided that the current currency should be changed….This…

1 | 45 | 50 | Finance | Government | Markets | Uncategorized

South Africa’s private sector activity picks up in September

ByBrian Kithinji October 12, 2020October 13, 2020

Private sectors activity in Africa’s most industrialized nation, South Africa, declined at a slower rate in the month of September as the government relaxed strict lockdown measures imposed to stem the spread of the novel coronavirus. The IHS Markit Purchasing Managers’ Index (PMI) climbed to 49.4 in September from 45.3 in the previous month, illustrating…

Another false start; Togo’s new government will not improve the volatile situation

ByBrian Kithinji October 9, 2020September 8, 2021

They’ve been here before. Nothing has changed. On September 25, an announcement was made in Togo that would, in any other country, send shockwaves both within and outside. The Prime Minister Selom Klassou and his government tendered their resignation, paving the way for a new team to take over. Then another announcement came on September…

Malawi seeks to boost ties with strategic ally Tanzania

ByBrian Kithinji October 9, 2020October 11, 2020

In his fourth trip as head of state, Malawian President Lazarus Chakwera chose to travel to neighboring Tanzania and boost trade ties as he embarks on sweeping changes aimed at lifting the economy. For years, Malawi and Tanzania have been major trading partners, though relations between the two nations are not rosy. A border dispute…

1 | 50 | Government | Markets | Uncategorized

BAT Kenya in trouble as health minister says license to sell LYFT nicotine pouches illegally awarded

ByBrian Kithinji October 9, 2020October 11, 2020

British American Tobacco Kenya wrongly received a license from regulators to sell LYFT nicotine pouches, Kenya’s health minister Mutahi Kagwe says. In a letter to Kenya Pharmacy and Poisons Board, Mutahi Kagwe accused the regulator of violating several provisions of the country’s laws when it licensed LYFT. BAT Kenya, which is part of British American…

1 | 45 | 50 | Markets | News | Uncategorized

World Bank projects Sub-Saharan Africa to hit first economic recession in 25 years

ByBrian Kithinji October 8, 2020October 11, 2020

The World Bank has announced that sub-Saharan African economies will contract by 3.5% in 2020 owing to the coronavirus crisis. The pandemic could also reverse recent economic gains and push 40 million people in the continent into extreme poverty. This marks the region’s first economic recession in 25 years. According to the World Bank, economic…

Ethiopian Airlines offers operational aid to struggling South African Airways

ByBrian Kithinji October 8, 2020October 11, 2020

Ethiopian Airlines have offered operational aid to rival South African Airways (SAA) which includes planes, pilots and maintenance. The goodwill gesture that was announced by the CEO Tewolde GebreMariam, is however not enough for SAA. South African Airways, the national carrier of Africa’s most industrialized nation, requires a cash injection of $600 million to get…

Relief for Tanzanian startups following launch of umbrella Startup Association

ByBrian Kithinji October 8, 2020October 11, 2020

Tanzania has launched a new umbrella organization that will bring together startups operating in the country. The body will be called Tanzania Startup Association (TSA), and its main target is to create a collective network of entrepreneurs and startup founders in Tanzania. Tanzania Startup Association was founded by long time successful entrepreneur Zahoro Muhaji. Muhaji…

Republic of Congo’s economy to grow by 0.5% in 2020

ByBrian Kithinji October 7, 2020October 11, 2020

The Republic of Congo’s government has announced that the economy will grow by 0.5% in 2021 after a contraction of 8.6% in 2020. The positive economic outlook is driven by renewed optimism for oil futures, as revenues are projected to rise 21% to 1,846.1 billion CFA francs ($3.32 billion), up from 1,525.3 billion CFA francs…