AFRICA

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World Bank cancels $265m Uganda funding over mismanagement concerns

The World Bank has canceled a 265 million dollar road project in Uganda following an infrastructure project review that found evidence of mismanagement on the side of government. There were also allegations of sexual harassment...

Court orders Egypt to pay Israel $1.7B compensation

An international court has ordered Egypt to pay 1.7 billion dollars to Israel in compensation over a gas supply deal that went bad. Egypt had suspended gas supplies to Israel for security reasons after the...

Use of straw helps curb deforestation & carbon emissions in Senegal

An alternative to timber cutting now exists in Senegal. It is the use of green charcoal. The method involves unused agricultural residues or renewable biomass which would otherwise go to waste, and transforming them...

Nigeria to hand jobless youth 25 dollars a month from 2016

Unemployed youth in Nigeria are due to start receiving 5000 Naira, just about 25 dollars a month, if the government's compensation plan for 2016 is approved. An estimated 40 million youth can't find work...

President Xi addresses high-level business forum

China's President Xi Jinping has unveiled a funding package for Africa - worth around sixty billion US dollars. That includes loans, investment - and education and training for thousands of young Africans. The announcement came at...

OPEC sets ceiling at 31.5M barrels a day

The Organization of Petroleum Exporting Countries (OPEC) has set a record oil-output ceiling of 31.5 million barrels a day in its latest meeting sending crude prices lower by a percent to 43.43 dollars a...

Authorities in Nigeria’s Lagos city plant trees to mitigate impact

As negotiations on a deal on climate change continue in Paris, African cities are already taking the initiative to reduce their Green gas emissions and the effects of global warming. One of such cities is...

Fastjet eyes southern Africa routes

Low-cost airlines across Africa have been growing fast in recent years, and the Tanzanian based airline Fastjet has told CCTV Africa that it is looking at opening new routes to South Africa, Zambia and...

Kenya introduces drought resistant beans

As Africa grapples with effects of El Nino, efforts are underway to combat these devastating repercussions. In the Kenyan town of Machakos, the Kenya Agricultural and Livestock Research Organization in partnership with the International Centre...

South Africa on the edge of being rated junk

South Africa is teetering on the edge of being rated junk. Two international credit ratings agencies Standard & Poors and Fitch are due to announce their latest views of the country's economy and projections do...