Economic and Finance

NIGERIA’s ELECTRICITY GENERATORS THREATEN NATIONWIDE BLACKOUT

Nigerian electricity generation companies (GenCos) have threatened to shut down power generation across the country if the federal government does not intervene and call the Nigerian Bulk Electricity Trading Company (NBET) to order. The GenCos through the Executive Secretary of their umbrella group, the Association of Power Generation Companies (APGC), Joy Ogaji, said in Abuja on Sunday that the federal government must prevail on the...

Zimbabwe banks run out of new notes

ZIMBABWE - It seems like the Zimbabwe government cannot get anything right as far as its cash problems are concerned. On Tuesday, the much-vaunted new Zimdollar notes were finally introduced to cash-starved citizens but there was little joy for citizens as the notes ran out at most banks soon after they were released. The new bank notes were seen as a precursor to the return of...

Zimbabwe to Introduce New notes and coins out today

ZIMBABWE - Commercial banks collected $30 million of new notes and coins yesterday from the Reserve Bank of Zimbabwe and account holders should be able to start accessing their $300 weekly cash withdrawal rations from most banks starting today. With the weekly cash withdrawal limit set at $300, at least 100 000 account holders should be able to withdraw cash this week, unless there is...

Zimbabwe plants first legal cannabis

The Zimbabwe Industrial Hemp Trust (ZIHT) and British firm Eco Equity have planted the first legal cannabis crop. The companies can grow cannabis after paying a license of about US$46, 000 each. The first steps in the decriminalization of cannabis were taken by the country in 2018. The move was made to capitalize on the opportunities that exist in the multibillion-dollar industry. Six varieties of industrial...

RAMAPHOSA LAUNCHES FIRST SOUTH AFRICAN SMARTPHONE PRODUCTION PLANT

SOUTH AFRICA- President Cyril Ramaphosa on Thursday opened South Africa's first smartphone production plant at the Dube TradePort in Durban. Ramaphosa described the Mara Phones plant President Ramaphosa as a great moment in South Africa's drive to be a producer of goods. "The highlight of my visit is the Mara smartphone plant. At the investment conference, the chief executive of Mara Phones Ashish Thakkar was willing...

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