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Africa’s largest renewable energy IPP to be sold to Egyptian company
Mainstream Renewable Power together with investment company Actis have announced the sale of Africa’s largest pure-play renewable energy independent power producer (IPP) Lekela Power, to Egyptian company Infinity Group and Africa Finance Corporation (AFC). News of the sale was revealed in a joint statement by Mainstream and Actis on Monday, months after reports of the…
Tanzania drums for more low-income-centred mutual funds
DAR ES SALAAM: THE government yesterday launched a mutual fund that targets the low-income bracket, a move envisaged to accelerate financial inclusion in the country. The collective scheme, Timiza Fund, introduced by Zan Securities, one of the leading stock brokerage firms, is the first private sector mutual fund and the third in the market. The sector…
INDICATIVE EXCHANGE RATES 13-06-2022
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Kenya Airways, South Africa carrier sign codeshare deal
South African Airways (SAA) has inked a codeshare agreement with Kenya Airways (KQ) on flights to and from their home countries in a bid to increase their reach. The deal, which became effective immediately, will see each airline sell, under its own code, flights operated by each other while travellers will combine flight segments and…
Afriprise upholds similar dividend as profit rises slightly
DAR ES SALAAM: AFRIPRISE Investment profit has minutely increased by 1.0 per cent, attributing the trend to improved capital market conditions and gains from the sale of treasury securities. The financial results of the listed firm, which is an investment wing of Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), show that the net profit increased to 1.97bn/-…
