UPDATE 2-Kenya’s Equity nine-month pretax profit jumps on lending boost

(Adds analyst, quotes, background) By Omar Mohammed NAIROBI, Nov 12 (Reuters) – Kenya’s Equity Group reported on Tuesday that its nine-month pretax profit rose to 24.78 billion shillings ($242.11 million) as it overcame the effects of an interest rate cap that slowed economic growth. Net interest income over the period was 32.29 billion shillings, up

Vodacom Tanzania’s H1 core earnings rise on M-Pesa, data revenue

DAR ES SALAAM, Nov 8 (Reuters) – Vodacom Tanzania’s core earnings rose 9.3% in the six months to the end of September, driven by increased revenue from its financial and data provision services, it said on Friday. Tanzania’s biggest telecoms operator, which is partly owned by South Africa’s Vodacom, said revenue from its M-Pesa financial

UPDATE 1-Barrick Gold reaches deal with Tanzania over Acacia Mining

(Adds CEO, foreign minister comments) Oct 20 (Reuters) – Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia, which Barrick bought in a $1.2 billion transaction approved by a British court last month. The tax deal includes the payment of $300 million to

UPDATE 1-Kenya opens $1.5 bln Chinese-built railway linking Rift Valley town and Nairobi

(Recasts lead, changes dateline, adds quotes) By Duncan Miriri NAIVASHA, Kenya Oct 16 (Reuters) – Kenya’s opened a $1.5 billion Chinese-built railway line linking Nairobi to Naivasha on Wednesday, despite delays in building an industrial park in the Rift Valley town to encourage freight. The extension links to another Chinese funded and built $3.2 billion

INSIGHT-Congo mine deploys digital weapons in fight against conflict minerals

* Companies need to show they use ‘clean’ minerals * Most traceability schemes now are paper based * New system deploys digital scanners to track minerals By Aaron Ross and Barbara Lewis RUBAYA, Democratic Republic of Congo, Oct 1 (Reuters) – In a small shack overlooking muddy pits hewn out of eastern Congo’s rolling green

UPDATE 1-Tanzania fines five banks for lax anti-money laundering controls

(Adds details from statement, background) By Fumbuka Ng’wanakilala DAR ES SALAAM, Sept 23 (Reuters) – Tanzania’s central bank said on Monday it had fined five commercial banks over $800,000 for breaching anti-money laundering rules, the latest in a series of moves aimed at tightening regulation in the financial services sector. The Bank of Tanzania (BoT)

Ethiopia to install 4G network ahead of telecoms liberalisation

ADDIS ABABA, Aug 30 (Reuters) – Ethiopia’s state-run Ethio Telecom plans to install a 4G network in the capital and other regions and to upgrade other network services, it said on Friday, as the government prepares to open up the sector to private foreign investment. In July, Ethiopia announced it would award two telecoms licences

UPDATE 1-Tullow Oil’s sale of stake in Uganda project to Total, CNOOC dropped

* Total, CNOOC did not further extend deadline for sale – Tullow * Uganda authorities did not agree tax relief on deal * Tullow seeking to reduce Uganda stake from third to around 11% (Adds detail, analyst comment) By Shadia Nasralla LONDON, Aug 29 (Reuters) – Tullow Oil’s plan to sell another stake in its

UPDATE 1-Kenya’s Nation Media Group first-half profit falls 24%

(Adds details, background) NAIROBI, Aug 28 (Reuters) – Kenya’s Nation Media Group said its pretax profit fell 24% in the first half of this year, hurt by slowing turnover due to falling advertising revenue. The biggest news publisher in East Africa, with newspapers, radio and television stations in Kenya as well as Uganda, Rwanda and

Tanzania central bank threatens hefty fines for lenders over data compliance

DAR ES SALAAM, Aug 25 (Reuters) – Tanzania’s central bank has given banks and financial institutions three months to establish data centres in the East African nation, saying it will impose hefty fines on lenders that fail to comply. A Bank of Tanzania spokesperson confirmed to Reuters on Sunday the regulator issued a circular on