East Africa Roundup News of the week.

East Africa Roundup News of the week.



* Kenya’s co-operative software developer CoreTec Systems and Solutions is implementing a KES 620 million (approx. USD 6 million) online portal for Botswana’s co-operative sector. (Read full article here) (http://bit.ly/2GBy8OK)

* The sale of ARM Cement’s Rwanda and Tanzania units has been affected by a court order obtained by the company’s former chief executive, Pradeep Paunrana, barring the administrators from transferring the firm’s local business to rival firm, National Cement. (Read full article here) (http://bit.ly/2Mlb8Y4)

* Parliament has received a new bill capping commercial bank interest rates that seals loopholes that led the High Court in March to declare legal limits on lending charges unconstitutional. (Read full article here) (http://bit.ly/2Ybjh8K)

* Toyota Kenya has been sued for offering loans for the purchase of cars above the legal cap on commercial lending rates.(Read full article here) (http://bit.ly/2JXlP1k)

* Kenya has pumped out 200,000 barrels of crude oil with a current market value of KES 1.3 billion (approx. USD 13 million), with the country gearing up to make its first small-scale export of the commodity by September.  The oil production statistics have been disclosed by London-based Tullow Oil which has exploration and oil fields in Turkana, Northern Kenya. (Read full article here) (http://bit.ly/2SM8yLM)



* Tanzania said on Wednesday that it had awarded licences for the construction of a mineral smeltery and two gold refineries to Chinese firms, as part of government efforts to generate more revenues from the nation’s mining industry. (Read full article here) (http://bit.ly/2JYi8Ze)

* Tanzania will sell neighbouring Kenya one million tons of maize and flour within a year to help curb a food shortage. (Read full article here) (http://bit.ly/2MoaUj5)



* Mbeki is spearheading the political, economic and security integration of the countries in the Horn of Africa. (Read full article here) (http://bit.ly/2OogAMw)

* AIDS Healthcare Foundation today praised leaders at the World Bank for quickly committing USD 300 million in aid to the Democratic Republic of Congo for its efforts to contain and eliminate an outbreak of Ebola in that country that has claimed nearly 1,700 lives. (Read full article here) (https://bwnews.pr/2YqoPrg)