Tag: GreatLakesNews

  • UN troops in DR Congo Shell M23 Rebels

    {{UN troops in the Democratic Republic of Congo have launched an offensive, shelling positions held by rebels near the eastern city of Goma.}}

    The UN was responding to shelling from M23 rebels on Goma on Thursday, a UN spokesman said. Congolese officials say five civilians in the city died.

    A M23 spokesman told media it had not attacked the city, blaming the army for provoking the fighting.

    A new UN intervention brigade is deploying to the area to tackle rebels.

    It has a mandate to neutralise and disarm rebel fighters. Its 3,000 soldiers are joining the regular UN peacekeeping force, Monusco, which has more than 18,000 troops on the ground with a mandate to protect civilians.

    UN spokesman Lt-Col Felix-Prosper Basse said two UN helicopters were involved in the latest operation, which was being backed by the Congolese army, attacking rebel positions in Kibati about 15km (nine miles) north of Goma.

    “Fighting has entered a new phase as Monusco is now engaging the rebels together with the government forces,” he told media.

    {wirestory}

  • U.N. Appeals to Sudan to Continue Transporting South’s oil

    {{The U.N. Security Council on Friday urged Sudan not to shut down oil pipelines that are the sole conduit for crude exports from South Sudan, which relies heavily on oil revenues for its economy.}}

    Sudanese President Omar al-Bashir announced in May that the pipeline would be closed unless the government in Juba stopped supporting rebels active in Sudan. Juba has repeatedly denied providing any support.

    “The Security Council urges the governments of Sudan and South Sudan to maintain dialogue to ensure continued transportation of oil from South Sudan, and the government of Sudan to suspend any actions to halt the transportation of oil from South Sudan,” the 15-nation council said in a statement.

    Sudan announced earlier this month that it had delayed the shutdown until September 6 to allow an African Union team to continue investigating the complaints.

    South Sudan seceded from Sudan in 2011. A shutdown of the oil pipelines from the South could have serious economic and political implications for Africa’s youngest country.

    No official date has been set for a new round of talks between the two countries.

  • Nile Breweries unveils New Beer Plant worth $90.6M

    {{Nile Breweries Ltd (NBL) one of the major Beer companies has unveiled a new beer plant worth $90.6 million in western Uganda expected to creat hundreds of Jobs.}}

    Uganda’s President Yoweri Museveni officially opened the factory saying, “The investment is a good boost to our economy because farmers will produce more maize and sorghum.”

    He added that; “In the past beer was manufactured using imported cereals yet we had cereals here. Why do we use imported cereals when we have sorghum and maize here? By buying from the local markets, beer companies have improved what we call forward and backward linkages.”

    The new Beer plant will be producing 5.5 million crates of beers per annum and will expand to 1.8 hectoliters. It uses sorghum, maize and barley, which will largely be grown by farmers in the region.

    The expanded production will also see the company export beer to DR Congo and South Sudan.

  • SMEs Urged to List on Nairobi Securities Exchange

    {{President Uhuru Kenyatta has encouraged more Kenyan Small and Medium Enterprises (SMEs) to list on the Nairobi Securities Exchange to fund their expansion.}}

    Kenyatta said increased SMEs activity at the bourse would consolidate Kenya’s position as a regional financial hub.

    “We are committed to involving the SMEs in our quest to strengthen Nairobi’s capacity to meet the East and Central Africa region’s demand for financial services,” the President said after a visit to the Shenzhen Stock Exchange.

    The President, who is on Friday concluding his highly-acclaimed first State visit to the globe’s second largest economy, this week saw Kenya and China sign eight crucial agreements on economic partnerships between the two countries.

    He noted the impressive progress made by the Shenzhen bourse, saying the same could be replicated in Nairobi.

    The President said Government was creating a conducive environment for SMEs to thrive, and the sector was important in growing the economy.

    He said the legislation and licensing regime governing the SMEs was being reviewed to make it a one-stop-shop that would attract more investment.

    “SMEs are the backbone of innovation and are crucial to provision of home-grown solutions to some of the economic challenges facing our country,” the President said.

    He urged the young people to take advantage of the thriving Information Technology industry in Kenya to start, expand and list SMEs at the NSE.

    This, the President said, would go a long way in creating employment.

    President Kenyatta observed that the impressive growth of SHZ was driven by unity of purpose, focus, discipline and hard work. He asked Kenyans to embrace the same values in order to succeed in their socio-economic aspirations.

    Briefing the President, SHZ Chairman Chen Dongzheng said the second largest bourse in China and 9th in Asia, lists more than 1500 companies.

    Chen said the Chinese Government is heavily involved in the stock exchange’s operations to ensure its stability.

    President Kenyatta and First Lady Margaret Kenyatta also toured the Shenzhen Museum, taking in the 30-year transformation of the city from a small border outpost to a modern metropolis.

    He said the museum was a fitting legacy to the people of Shenzhen, reminding them of their journey to economic independence, self-reliance and sustainability. The magnificent ultra-modern Southern city of Shenzhen has grown to its present status over a span of 30 years.

    {CapitalFm}

  • Juba & Khartoum Agree to End Rebel Support

    {{Sudan and South Sudan have agreed to cease mutual hostilities and halt any rebel support, including the pulling out of forces from their joint border.}}

    In joint statement issued in Khartoum Thursday by their armies, the two countries confirmed they had also agreed on how to deal with their complaints.

    “The two parties renewed their commitment to halt all forms of support and harbouring to the armed movements and groups and exchange of complaints and responding on them,” a statement issued after a two-day meeting of the Joint Security Committee of Sudan and South Sudan said.

    “The Armed Forces and the People’s Army of South Sudan agreed on the pull out and re-deployment along the joint border in accordance with the map provided by the African Union High-Level Implementation Panel (AUHIP),” the statement added.

    The two sides also agreed to jointly bear logistics of their field teams expected to start work in a week.

    The agreement, signed by the heads of the two country’s military intelligence, also included the possibility of creating sites to verify any claims of violations.

    Meetings will resume on September 17 in South Sudan capital Juba.

    Since July 2011, Sudan and South Sudan have accused each other of supporting rebels in their countries.

    In September last year, the two countries signed a cooperation agreement to resolve issues that were unresolved after the secession of South Sudan from Sudan.

    They included oil, border demarcation, external debts, the legal status of the citizens in the both countries and the question of Abyei and other disputed areas.

    They also agreed on a 20 kilometre non- military area as buffer zone on their joint border, to be monitored by UN forces.

    NMG

  • MONUSCO Ordered to Protect Civilians after Goma Shelled

    {{The head of the U.N. mission in Congo on Thursday ordered peacekeeping troops to act to protect civilians after shelling hit the city of Goma in renewed fighting between the army and M23 rebels.}}

    The fighting close to Goma, a city of a million people on the Rwandan border, comes after a relative lull in the 18-month rebellion. Late last month, the United Nations pledged to keep the M23 rebels out of range of the town, which they briefly seized last year.

    Rwanda accused the Congolese army of deliberately firing artillery into its territory. However, Kinshasa denied the reports.

    Martin Kobler, head of the U.N. mission known as MONUSCO, said populated areas and U.N. positions had been directly attacked during the clashes on Thursday.

    “I have ordered the MONUSCO Force to react and to take necessary action to protect civilians and prevent an advance by the M23,” he said, without elaborating.

    Reporters in Goma said three shells landed in the town and saw the bodies of two children killed in one of the explosions. Another civilian was killed and four others wounded, officials at a local hospital said. Two Congolese soldiers were also wounded, they said.

    Fighting initially broke out late on Wednesday

    A senior U.N. official, who asked not to be named, said that on Thursday the rebels entered a security zone surrounding Goma, which was established by a new, robustly-mandated U.N. Intervention Brigade earlier this month.

  • Somalia Vows Action Over Alleged rape by AU troops

    {{Somalia’s government vowed Wednesday to deliver justice in the case of a local woman who alleged she was gang raped by African Union troops and Somali soldiers.}}

    “My team and I are committed to getting to the bottom of this case, and all other allegations of sexual violence,” Somalia’s minster for human development, Maryan Qasim, said in a statement Wednesday.

    “We want perpetrators of crimes to be brought to justice and to build a society where the rights of every citizen are protected.”

    Qasim, the head of a government team probing the case, distanced herself from an audio recording in Somali media in which she appeared to angrily criticise rape victims for publicising their cases in the press.

    Instead, she said she had been “misquoted and misrepresented”, and that she had instead been stressing the need to “protect each and every rape victim’s identity”.

    “Rape in all its forms is totally unacceptable,” Qasim added. “The government cannot tolerate such incidents, no one should be allowed to violate the rights of Somali women.”

    Late last week a Somali woman alleged she was kidnapped by three soldiers from the national army, blindfolded and forced into a car, before being handed over to African Union troops to be repeatedly raped.

    The unnamed woman, in her late 20s with a young baby, told Somali media that she was unconscious during the attack and says she does not know how many men raped her.

    AMISOM, the 17,700-strong United Nations-mandated force that supports the government in its fight against Al-Qaeda-linked Shebab insurgents, said it has launched an investigation together with the Somali army.

    AMISOM, fighting since 2007 in Somalia and funded by the UN and European Union, insists it “strongly condemns … sexual abuse or exploitation”.

    The force is mainly made up of troops from Uganda, Burundi and Kenya, with smaller numbers from Djibouti and Sierra Leone.

    AFP

  • Dar es Salaam in Shortage of Competent Directors

    Tanzania lacks adequate number of competent directors, an expert has said, calling upon concerted efforts among various stakeholders to address the issue.

    This unfortunate situation, according to the Bank of Tanzania (BoT) deputy governor Mr Juma Reli responsible for administration and internal control, results in poor performance of both public and private institutions.

    Opening a corporate governance seminar organised by Institute of Directors in Tanzania, Mr Reli said poor performance in these institutions is caused by the negligence of the board of directors and the lack of general management principles.

    Mr Reli said when a board of directors fails to play well its oversight duty, an institution must performs poorly. “Boards of directors are heads of those institutions if they fail to do their part as outlined in the rules and regulations, their organisations fail,” he said.

    He said that IoDT is currently establishing itself and has aptly chosen to concentrate on developing a strong and sustainable director training programme to cater for the shortage. “Its work in this area is to provide guidelines for chairs and directors suffering from competence issues,” he said.

    NMG

  • EABL Stock in Nosedive Ahead of Annual Results

    {{East African Breweries (EABL’s) share price continued its trajectory of consistent decline ahead of the expected release of the beer maker’s annual results on Friday.}}

    EABL’ share closed at Sh305, a 13% drop from Sh349, the July 30 price when the firm issued a profit warning.

    A profit warning is a regulatory requirement that is issued when a company expects its earnings to drop by at least 25% of the level reported in the previous reporting period.

    “EABL was amongst the top movers today, with foreign investors providing most of the demand and local investors providing supply (553,000 shares).

    ‘‘The brewer continued to witness a bear run easing 2.9% to Sh305,” said a market report by Standard Investment Bank.

    The EABL stock has been on a gradual decline as investors factored in the impact of the profit warning, which signals a drop in the company’s generous dividends payout over the years.

    “Based on our valuation, the company’s full-year dividend will probably fall to about Sh7.75 per share compared with Sh8.75 a year earlier,” said a market report by Old Mutual Securities.

    EABL said that it was expecting profitability to decrease by at least 25% due to high cost of finance on the loan it took from its parent company, Diageo, to re-purchase its stake from south African brewer SABMiller.

  • Kenyan banks lead African peers in SME lending

    {{Kenyan commercial banks are earning the highest proportion of income from lending cash to Small and Medium Enterprises (SMEs) compared to other African lenders, a World Bank survey has established.}}

    More than a fifth (20.5%) of Kenyan banks’ net income is earned from lending to SMEs, nearly double the proportion that Nigerian banks make from the mid-sized enterprises according to the World Bank research released last week.

    South African banks trace 15% of their income from lending to SMEs, Tanzanian lenders make 16%, while Rwanda comes closest to Kenya at 20%.

    “The difference between Kenya and most other sub-Saharan African countries is that innovation started through a combination of microfinance-rooted institutions scaling up to becoming commercial banks and innovation with lending models and technology in the retail banking segment by other institutions, most notably Equity Bank,” states the report authored by World Bank researchers, Gunhild Berg and Michael Fuchs.

    In Kenya, the research found that 17.4% of total bank lending goes to SMEs, whereas it stands at 17.0% in Rwanda. Nigeria, South Africa and Tanzania lag behind in SMEs’ share of total bank lending at five, eight and 14% respectively.

    {agencies}