Ethiopia’s largest bank loses $40 million after a technical glitch triggered withdrawals frenzy
The bank has not said how much was withdrawn, but Abe told reporters that half a million transactions were made during the glitch. A local newspaper reported that 2.4 billion Ethiopian birr ($42 million) was lost.
Nigerian court denies Biafra separatist leader Nnamdi Kanu, arrested in Kenya in 2017, bail
Kanu, a British citizen who leads the banned Indigenous People of Biafra (IPOB) movement, disappeared from Nigeria after skipping bail in 2017. He was arrested in Kenya in 2021 and charged in Nigeria with terrorism.
ATMIS assures Mogadishu its committed to ‘seamless’ transfer of mandate to Somali Security Forces
As part of the transition process, ATMIS withdrew 5,000 troops from Somalia and handed over 13 military bases to the SSF during the first and second phases of the drawdown last year. The third phase, targeting 4,000 troops, is scheduled to be completed by end June this year.
News of KCB Group plan to offload National Bank of Kenya spurs jump in shares on Nairobi Securities exchange
KCB has also acquired banks in other markets in the region in recent years, including an 85 per cent stake in Trust Merchant Bank in the Democratic of the Congo completed in late 2022, which has put further pressure on its own reserves.
Ramadhan: Algeria television stations’ advertising frenzy elicits state rebuke for ‘immoral content’
After meeting with station directors on Sunday, Algerian Communications Minister Mohamed Lagab accused networks of not respecting ethical and professional lines, calling their programmatic choices “out of keeping with the social traditions of our society and especially the sacredness of the month of Ramadhan.”
Pirates arrested off Somali coast shipped to India for trial and sentencing, Indian official says
India has deployed at least a dozen warships in the Gulf of Aden and the northern Arabian Sea since December, which enables it to assist vessels east of the Red Sea, where the navies of several countries, including the United States, are trying to secure shipping routes under attack from Yemen’s Houthi militants.
Year-over-year: South Africa’s inflation uptick makes case for delayed rate cuts
The South African Reserve Bank, which targets inflation of between 3 per cent and 6 per cent, will announce a monetary policy decision next week.
Detained Congolese journalist Bujakera walks to freedom after state prosecutor withdrew appeal
Bujakera was arrested in September on suspicion of spreading false information about the killing of a prominent opposition politician in an article published by Jeune Afrique, the French news magazine has said. The prosecutor in the case earlier this month had asked the court in Kinshasa to sentence Bujakera to 20 years in prison.
Financially hamstrung Al Shabaab protect Somali pirates in Indian Ocean for a cut of the loot
The deal could provide al-Shabaab with critical funds after the Somali government clamped down on its other illegal money sources and froze its bank accounts. The terrorists also are suspected of negotiating with pirates and Houthi rebels to acquire weapons.
Why environment in Uganda is decaying, collapsing despite vast pool of knowledge and awareness
In Uganda the political leaders are pursuing development assisted by countries that prefer grass (oil palm and sugarcane) to natural forests. The 10,000 hectares of natural forests of Kalangala Island of Lake Victoria have been felled and sold as timber.
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