Egypt approves contract with Siemens for energy efficiency enhancement

Arab Finance The Egyptian Cabinet approved the initiation of procedures required for the contract with Germany’s Siemens for the execution of the LOT-3 package of the energy efficiency enhancement project financed by the Japan International Cooperation Agency (JICA), according to an official statement on August 31st. The project will be launched in the area served…

Chinese taikonauts to hold ‘out-of-this-world’ chat with African students

By Jerry Omondi The three Chinese taikonauts carrying out the Shenzhou-14 mission are scheduled to hold a dialogue with African youths on September 6. Tuesday’s dialogue, hosted by the Mission of China to the African Union, the China Manned Space Agency, and the African Union Commission, will draw African students from Egypt, Nigeria, South Africa, Namibia,…

South Africa Q2 GDP contracts 0.7% q/q – stats office

Reuters News South Africa’s gross domestic product (GDP) contracted 0.7% in the second quarter in quarter-on-quarter, seasonally adjusted and non-annualised terms, data from the statistics agency showed on Tuesday. GDP grew 0.2% year-on-year unadjusted in the second quarter, Statistics South Africa said. Economists had predicted 0.8% quarter-on-quarter contraction and 0.6% year-on-year growth. The floods in…

World climate leaders to participate in Egypt-ICF to tackle climate change in Africa

Staff Writer, Daily News Egypt Egypt – High-profile climate leaders from around the world are expected to participate in the second edition of the Egypt-International Cooperation Forum (Egypt-ICF) and the Meeting of African Ministers of Economy, Finance, and Environment that will be held under the auspices of President Abdel Fattah Al-Sisi from 7 to 9 September….

E-Commerce Company Jumia Launches Drone Deliveries in Ghana

Victoria Amunga NAIROBI — Africa’s largest e-commerce company, Jumia, launched the first commercial drone delivery service on the continent this week, offering delivery of products across Ghana. After more than three months of testing in the town of Omenaku, Jumia and California-based instant-delivery service Zipline have started delivering products to homes. The service is available nationwide…

Stress tests find banks in Uganda resilient to economic shocks

Staff Writer, ZAWYA Bank of Uganda has conducted stress tests on five banks last year to test their resilience, The Monitor newspaper reported, citing Deputy Governor Michael Atingi-Ego.  The stress tests were conducted on important domestic banks to ensure they were safe and sound and could support the economy through different shocks.  Stress tests are conducted…