Uganda’s central bank on Tuesday suspended the operations, Mercantile Credit Bank Limited (MCBL), one of the country’s biggest microfinance institutions, saying the bank was undercapitalised, posing a risk to customer deposits. The bank is one of five licensed microfinance credit institutions supervised by the central Bank of Uganda. The Bank of Uganda took action because…
Tag: technology
Kenyan rose up against proposed taxes on bread, cooking oil and mobile money.
Kenya’s government has scrapped some proposed taxes in this year’s controversial finance bill, including a 16% levy on bread, after a public outcry. The announcement by MPs came as police fired tear gas and used water cannon to try to disperse angry protesters in the capital, Nairobi. Dozens of people have been arrested, and lawyers…
Putin visits to North Korea marks anew chapter in bi-lateral relations.
Russian President Vladimir Putin arrived in North Korea to a red carpet welcome on Tuesday night at the start of his first visit to the totalitarian state in 24 years. Mr Putin was met on the tarmac by North Korean leader Kim Jong Un and – flanked by a military guard of honour – the…
Zuma’s MK Pledges alliance with opposition.
South Africa’s political landscape is still in flux following the ANC’s effort to establish a government of national unity after not securing a parliamentary majority in last month’s election. Although the ANC’s leader, Cyril Ramaphosa, has been reelected as president, the party is still in the process of forming new partnerships. The coalition it has…
Israeli PM Dissolves War Cabinet Following Key Departures.
Israel’s Prime Minister Benjamin Netanyahu has taken the decisive step of disbanding the war cabinet in response to significant departures of key member. This move under scores astrologic recalibration within the Isreal government, reflecting both internal political realignments and evolving security priorities. A government spokesman said the pre-existing security cabinet and the larger full cabinet…
UN calls on militants in eastern DR Congo to ‘immediately cease’ civilian attacks.
UN peacekeepers have begun deploying troops in additional areas of the eastern Democratic Republic of Congo to address a fresh surge of violence from various armed groups. Farhan Haq, deputy spokesman for UN Secretary-General Antonio Guterres, said on Wednesday that the decision to deploy troops came after members of the Zaire and CODECO armed groups…
Malawi bids fare well to vice president Chilima with full military honor.
Tens of thousands of people in Malawi gathered at the national stadium for a funeral service honoring the vice-president who tragically died in a plane crash last week. Saulos Chilima, aged 51, was seen as a refreshing presence in Malawian politics. He was an eloquent public speaker and energetic campaigner who held huge sway among…
African National Congress (ANC) is moving closer to establishing a unity government.
South Africa’s governing African National Congress (ANC) says it has made progress in efforts to establish a government of national unity after losing its outright majority in recent elections. But the party’s secretary general Fikile Mbalula said the party is not ready yet to announce the details of an agreement. The ANC lost its parliamentary…
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