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

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

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

Uganda blocks online access to Rwandan newspaper, casting shadow over pact to end tensions

KAMPALA, Aug 23 (Reuters) – Uganda said on Friday it had blocked online access to Rwanda’s main state-owned newspaper on national security grounds, two days after the countries signed a pact to end tensions that closed their busiest border crossing for six months. Uganda’s communications regulator asked all internet service providers to block access to

UPDATE 1-Mali’s new mining code ends tax exemptions, shortens regulatory stability period

* Mali Mines Ministry sets out new regulation * Miners will no longer be exempt from VAT during production * Regulatory “stability period” will be shorter * Change aims to increase contribution of mining to Mali economy (Adds comments, context) BAMAKO, Aug 22 (Reuters) – Mining companies operating in Mali will no longer be exempt

Kenya’s KCB Group sees acquisition of NBK sealed by October

NAIROBI, May 16 (Reuters) – Kenya’s biggest lender by assets, KCB Group, expects to complete its acquisition of National Bank of Kenya by October, it said on Thursday. KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, last month offered to buy National Bank (NBK) through a share swap of one KCB

UPDATE 1-Kenya’s Equity Group in deal to buy African bank stakes

(Adds details, background) By George Obulutsa NAIROBI, April 30 (Reuters) – Kenya’s Equity Group Holdings said on Tuesday it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania. Equity’s announcement marks the third major deal among lenders in Kenya since the government

UPDATE 2-Kenya’s NIC Group shareholders back merger with CBA

(Adds details) By Omar Mohammed NAIROBI, April 17 (Reuters) – NIC Group’s shareholders have approved its merger with the Commercial Bank of Africa, the company said on Wednesday, paving the way for the two companies to create the third-biggest bank by assets in East Africa. The deal is subject to approval from regulators and NIC