The four countries comprising the East African Community intend to jointly launch a one area-network to empower them to feel the impact of the jet set world of broadband super highway by the end of this month. The launch of the one area network will abolish roaming charges among the four countries. Additionally it will reduce the cost of calls made by residents of Rwanda, Uganda, South Sudan and Kenya by 50%. The one-network aspiration is one of the decisions taken by regional leaders at the recent Sixth Northern Corridor Integration Projects summit at the Kigali Serena Hotel in the…
Author: Pride Team
Traditional healers in Northern Nigeria are smarting under the opportunity cost of the Boko Haram insurgency and are not taking it lying down. They have rushed out of their corner throwing upper cuts and have given the Federal Government a 40-day ultimatum to investigate two high ranking officials otherwise they will drag former Borno governor Ali Modu Sheriff and Lt-General Azubuike Ihejirika to court. The traditional healers, known popularly as Babalawos, accuse the two men of “financing terrorism” allegedly and want state security agencies to investigate their activities in connection with Boko Harm atrocities or they would move to safeguard…
All days for the thief man, one day for the master is a popular cliché. An Inspector of the Ghana Police Service, who has probably been beefing up his recently-enhanced monthly salary by stealing electrical cables from projects sites, has been nabbed by his colleagues of the highway patrol. Inspector Emmanuel Ametepey and an accomplice currently on the run, reportedly stole nine bundles of the electric cables from a rural electrification project site at Nankese, a village in the Central Region. The duo contracted the driver of a truck with registration number GC 296-10, to cart the stolen items from…
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By Alex C Interbank lending rates climbed to 10.62 percent this week, up 0.12 basis point from a week earlier, after the central bank issued a larger amount of treasury bills than those that were maturing, dealers said on Friday. The Central Bank of Nigeria (CBN) issued N234 billion ($1.44 billion) worth of Open Market Operation bills on Friday to replace a N200 billion bill it paid off the previous day, curbing liquidity, they said. The cash balance that lenders hold at the central bank was N204.37 billion on Friday, compared with 263.49 billion last week, the regulator said on…
By Alex C Qatar National Bank (QNB) has acquired a further 11 percent stake in pan-African lender Ecobank Transnational Incorporated in a deal worth $283 million, the Qatari lender said in a statement on Monday. QNB acquired 2.048 billion ordinary shares using its existing resources to take its total holding in the bank to 23.5 percent, the statement said. Monday’s purchase comes after it acquired a 12.5 percent stake in Ecobank Transnational Incorporated which it bought shares from the Asset Management Corporation of Nigeria (AMCON) on the Nigerian Stock Exchange (NSE). Following the transaction, Ecobank is discussing a strategic partnership…
By Alex C Asset Management Company of Nigeria (AMCON) has selected HBCL Investment Services Limited (HISL), a private commercial bank, as the successful bidder to buy nationalised lender Enterprise Bank. The state-owned rescue bank had sought bidders for the sale of its 100 percent stake in Enterprise Bank, one of three banks nationalised following a $4 billion central bank bailout that saved several Nigerian lenders from near bankruptcy in 2009. An AMCON statement released during the weekend did not give details of the agreed price of the sale. It said Fidelity Bank had been chosen as the reserve bidder in…
Medical practitioners in Nigeria and the Federal Government are feuding over whether or not the 2014-2015 academic year be postponed indefinitely Whereas the government wants public schools re-opened on September 22, the Nigerian Medical Association prefers October 12 or not at all. NMA National Secretary-General, Dr. Olawunmi Alayaki, urged that all schools ought to remain shut “till all those under surveillance for the Ebola Virus Disease” in the country had been certified free. “We are not happy with this decision on the resumption of schools. Schools should be shut till the last suspected case or patient is certified free of…
The rash of private universities springing up all over Ghana seems to have peaked. One of them, Meridian University College, based at Kasoa in the Central Region is so crippled by cash flow problems that it has decided to dissolve itself, putting the future of about 300 students in jeopardy. Management of MUC, accredited by the National Accreditation Board and affiliated to the state-owned University of Cape Coast blame “low enrolment and financial challenges” as reason for the dissolution. The depth of the cash crunch and the way forward were clarified in an official notice: “Students are hereby informed that…
Central African neigbours, Ugandan and Kenya, seem to espouse contradictory positions on polygamous marriages. While in Kenya, MPs have passed a law which makes any woman a married man goes home with another wife, Ugandan President Yoweri Museveni has blasted his fellow men who flippantly marry multiple women, saying polygamy “undermines family cohesion and sustainable use” of resources. “Don’t marry anyhow. If you marry many wives, they will not have the same focus and spirit. They will not work together,” he advised. Addressing the centenary celebrations for St Patricio Muhito Catholic Parish Church in Sheema District, President Museveni said joint…