Donation Amount. Min £2

East Africa

DAR ES SALAAM - In a significant move to bolster investments in key economic sectors, CRDB Bank and the African Export-Import Bank (Afreximbank) have entered into a strategic partnership. The collaboration was formalized with the signing of a $115 million facility agreement at the Intra-African Trade Fair (IATF) 2023 in Cairo, Egypt, today.

This new agreement earmarks $110 million for the parent company of CRDB Bank and an additional $5 million for its subsidiary in Burundi. The funds are intended to enhance investments across various sectors, including agriculture, oil and gas, and trade. This development represents a transition from mere transactional interactions to a strategic alliance that aims to promote shared growth and prosperity.

The deal comes on the heels of a productive period for CRDB Bank. Just last month, the bank secured a substantial $150 million facility agreement with Intesa Sanpaolo (OTC:ISNPY) and Investec Bank. Additionally, it successfully raised Sh171.82 billion from Green Bond sales, signaling strong market confidence in its operations and future prospects.

During discussions at the IATF 2023 Diaspora Day, Abdulmajid Nsekela, CEO of CRDB Bank Group, underscored Tanzania's welcoming environment for diaspora investments. He pointed out opportunities in the agriculture, infrastructure, health, and real estate sectors, specifically mentioning the Fumba Town project as an example.

Underlining this commitment to engaging with the diaspora, Nsekela highlighted policy amendments by the Tanzanian Central Bank that now allow diaspora members to open bank accounts and invest in their home country more easily. He also noted the establishment of the Diaspora Digital Hub (DDH), which is supported by CRDB Bank with an investment of Sh100 Million.

CRDB Bank has made concerted efforts to encourage diaspora investment through various services such as loans and advisory offerings. It has integrated its digital banking systems, including 'SimBanking,' 'Internet banking,' and TemboCard, with its Tanzanite Account to facilitate these investments. Moreover, the bank collaborates with leading remittance partners like Western Union (NYSE:WU), World Remit, Ria, and Upesi to streamline financial transactions for the diaspora community.

This series of strategic initiatives and partnerships underscores CRDB Bank's commitment to fostering investment within Tanzania and throughout Africa. With these developments, CRDB Bank is positioning itself as a key player in driving economic growth and facilitating cross-border trade on the continent.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

 
CRDB Bank and Afreximbank sign $115 million investment deal, Editor Pollock Monda, Investing.com
Azimio leader Raila Odinga and President William Ruto  PHOTO  VOA/PCS
 

Azimio Principal Raila Odinga claims that the government-to-government oil deal that President Wiliam Ruto signed with Saudi companies was corrupt.

In his dossier, the Azimio premier accused Ruto of disguising the deal as a government project to help Kenyan Companies, Gulf Energy, Galana Oil Kenya Ltd, and Oryx Energies Kenya Limited, evade taxes. 

''We now know that the characterisation of this deal as G-to-G was meant to shield the three Kenyan companies from paying 30 percent corporate tax,'" the former Prime Minister stated while addressing the media. 

According to Raila, the companies contracted in the oil deals bought the product and sold it at an inflated price.

''This shady business model is being deployed by all the companies retained in the Ruto deal. They buy at low prices, delay in discharging, then ask to be allowed to offload at higher prices, and the cost is passed to consumers,'' Raila alleged.

The Ministry of Energy and Petroleum was also alleged to have changed billing months to allow the oil companies to quote higher prices. 

Further, the importing companies delayed the delivery and offloading dates to maximize prices which he termed as inflated. Kenyans, in the end, bore the brunt of the deal as they purchased fuel at exorbitant prices. 

Raila also attributed the deal as the main cause of a diplomatic tiff and broken trade agreements with neighbouring landlocked countries such as Uganda. The neighbouring country, which depended on Kenya for fuel imports, recently enacted a law barring Kenyan companies from importing oil on its behalf. 

''It is shrouded in deep secrecy. To date, only two documents have been made public; that is the Master Framework Agreement with petroleum trading entities and the Open Tender System modified agreement with marketers," he further stated.

The formula used to nominate the three companies in the oil deal, according to Raila, was also questionable since it was shrouded in secrecy.  

''Nobody knows how Gulf Energy, Galana Oil Kenya Ltd, and Oryx Energies Kenya Limited got nominated to handle local logistics. But the hand-picked distributors are selling oil to us at almost twice the price from bulk suppliers,'' Raila further claimed, accusing Ruto of corruption. 

He thus demanded the government revert to an open tender system to give a fair chance to all suppliers and publish the details of the oil deal to prove innocence. 

Early this year, the Kenyan government entered into an import agreement with the governments of the United Arab Emirates and Saudi Arabia.

In the deal, state-owned Oil companies were nominated to import fuel in what Ruto said was to help the shilling stabilize by weighing more options. By Levi Onyinkwa, Kenyans.co.ke

 

JUBA – South Sudan President Salva Kiir Mayardit has dismissed the country’s Inspector-General of Police Gen. Majak Akec Balok in a surprise move that comes amidst rumors of a coup attempt.

The president in his decree read out on the state-owned South Sudan Broadcasting Corporation (SSBC) on Tuesday night did not cite any official reason for the decision.

However, it comes just days after reports of unrest within the presidential guards, also known as Tiger Battalion, and the national security service (NSS), with sources claiming that around 27 officers from both security agencies were arrested.

Gen. Balok was appointed to the position in February 2018, having previously served as the director-general of nationality, passport, and immigration.

President Kiir has also appointed Lt. Gen. Atem Marol Biar as the new Inspector-General of Police. The new police chief was previously the Director General of the interior ministry’s Directorate of Civil Registry, Nationality Passports, and Immigration.

The dismissal of Gen. Balok and the appointment of Gen. Biar are the latest in a series of changes to South Sudan’s security sector.

These changes come as the country continues to grapple with political instability and violence, and as rumors of a coup attempt continue to swirl. - Sudans Post

The Ministry of Interior and National Administration has revoked a gazette notice that recently announced an increase in charges for key government services after widespread public outcry.

In a statement on Tuesday evening, Interior CS Kithure Kindiki said the notice that sought to impose higher charges on the application for birth certificates, identity cards (IDs) and passports had been revoked to allow for more public participation.

"It is notified for information of the general public that Kenya Gazette Notice No. 15239 of 2023, 15240 of 2023, 15241 of 2023 and 15242 of 2023 in the Special Issue of the Kenya Gazette Vol. CXXV-No.239 dated November 7, 2023 published by the Cabinet Secretary for Interior relating to upward revision of charges, fees and levies for various services provided by the State Department for Immigration and Citizen Services has been revoked to allow more public participation on the matter," Kindiki stated.

The CS also gazetted proposed charges for the same services set to take effect on January 1, 2024.

While most of the proposed charges remain the same, the CS announced that plans to introduce a Ksh1,000 fee for first-time ID applications had been reviewed following widespread uproar from members of the public. In the new proposal, Kenyans will now pay Ksh300 to acquire IDs. The service was previously offered at no cost.

Kindiki further noted that the government would meet the costs of Kenyans who demonstrate inability to raise the proposed fees.

"On the particular issue of acquisition of National Identity Cards by previously not registered citizens, the Government shall defray the costs of the revised charges, fees and levies through a waiver for indigent Kenyans who demonstrate inability to pay," the CS stated.

In the new proposal, Kenyans seeking to replace their lost IDs will part with Ksh1,000 and not Ksh2,000 indicated in the revoked notice.

The intended revised charges, fees and levies, Kindiki said, were informed by the need for Kenya’s self-reliance in financing the national budget, "to wean the country from unsustainable debt that poses grave threats to our sovereignty and the dignity of future generations." 

"The new intended charges, fees and levies have been adjusted to accommodate views of the public already received following the publication of the revoked Gazette Notices," he added.

Consequently, the CS directed the State Department for Immigration and Citizen Services to conduct and complete public participation not later than December 10, 2023.

Passports

The proposed charges on passports remain the same as contained in the revoked gazette notice.

Kenyans will pay Ksh7,500 for an ordinary passport (34 pages), up from Ksh4,500.

A 50-page passport will cost Ksh9,500 up from Ksh6,000 while a 66-page passport will cost Ksh12,500 up from Ksh7,500.

Work permit fees for foreigners also remain the same.

A work permit for investors Class G will cost Ksh250,000 up from Ksh100,000 while a work permit for investors Class D will be Ksh500,000 up from Ksh200,000.

Foreigners will also have to pay Ksh30,000 work permit processing fees, up from Ksh10,000.

New birth certificate applications will cost Ksh200 from Ksh50. Application fees for death certificates have also quadrupled to Ksh200 as announced in the previous gazette notice while amendment fees for both birth and death certificates have increased by Ksh870 to Ksh1,000.  

The High Court had last week suspended the revoked notice pending the hearing and determination of a case lodged by a Nakuru Doctor Magari Gikenyi challenging the legality of the newly imposed fees. By , K24 Digital

Demonstrators outside the Royal Courts of Justice, central London in 2022. File pic

Robert Jenrick has vowed the government will do "whatever it takes" to implement its Rwanda deportation plan - following Suella Braverman's sacking as home secretary.

The immigration minister - who kept his job in Monday's dramatic reshuffle - said the government's plan "must" go through, "no ifs, no buts". 

However, the policy faces a make-or-break decision on Wednesday when the Supreme Court will rule on whether the plans are lawful.

Speaking to The Daily Telegraph during a visit to Bulgaria, just hours after Ms Braverman's sacking, he said: "Be assured that as a prudent government, we have been thinking through what further steps we could take.

"I worked closely with the former home secretary on various options. But at the heart of this is the deep conviction that you have to inject deterrence into the system. 

"We must ensure the Rwanda policy succeeds before the next general election. No ifs, no buts, we will do whatever it takes to ensure that happens."

Mr Jenrick did, however, concede that the government would struggle to achieve its goal of stopping small boat crossings in the English Channel if their plans to send asylum seekers to Rwanda were deemed unlawful.

 

Asked whether the boats could be stopped without the Rwanda policy, Mr Jenrick replied: "No."

The deal - signed by Ms Braverman's predecessor Priti Patel, but later championed by the now former home secretary - would see some asylum seekers sent to Rwanda to claim asylum there.

Suella Braverman laughs during her visit to Kigali, Rwanda
Image:Suella Braverman during a tour of a migrant housing facility in Rwanda in March

Last month, the Home Office challenged a Court of Appeal ruling from June that the multimillion-pound deal was unlawful.

The Illegal Migration Act brought into law the government's policy of sending some asylum seekers to Rwanda, but because of the legal wrangling, no deportation flights having taken place.

The first planned flight to Rwanda in June 2022 was grounded minutes before take-off following a ruling by a judge at the European Court of Human Rights in Strasbourg.

As a result, Mr Jenrick has not removed the possibility of the UK's exit from the European Convention on Human Rights - a move which Prime Minister Rishi Sunak has repeatedly refused to rule out. By SKY News

About IEA Media Ltd

Informer East Africa is a UK based diaspora Newspaper. It is a unique platform connecting East Africans at home and abroad through news dissemination. It is a forum to learn together, grow together and get entertained at the same time.

To advertise events or products, get in touch by info [at] informereastafrica [dot] com or call +447957636854.
If you have an issue or a story, get in touch with the editor through editor[at] informereastafrica [dot] com or call +447886544135.

We also accept donations from our supporters. Please click on "donate". Your donations will go along way in supporting the newspaper.

Get in touch

Our Offices

London, UK
+44 7886 544135
editor (@) informereastafrica.com
Slough, UK
+44 7957 636854
info (@) informereastafrica.com

Latest News

International Committee of the Red Cross calls Israel-Lebanon cease-fire 'encouraging' step

International Commit...

'The ceasefire must be upheld and enforced across all levels of command to ensure much-needed respit...

China State Bank Shouldn’t Back East African Crude Oil Pipeline

China State Bank Sho...

Planned Fossil Fuel Project Threatens Human Rights, Drives Climate Change Oil drilling pipes at the...

New airport in Gauteng ‘to be funded by private sector’

New airport in Gaute...

With the new airport, government said they will partner with the private sector to boost the Sedibe...

 Courts orders IEBC and State to place beacons in all 47 counties

Courts orders IEBC a...

Environment and Land Court judge Lucas Leperes Naikuni (third right) during a site visit at a site...

For Advertisement

Big Reach

Informer East Africa is one platform for all people. It is a platform where you find so many professionals under one umbrella serving the African communities together.

Very Flexible

We exist to inform you, hear from you and connect you with what is happening around you. We do this professionally and timely as we endeavour to capture all that you should never miss. Informer East Africa is simply news for right now and the future.

Quality News

We only bring to you news that is verified, checked and follows strict journalistic guidelines and standards. We believe in 1. Objective coverage, 2. Impartiality and 3. Fair play.

Banner & Video Ads

A banner & video advertisement from our sponsors will show up every once in a while. It keeps us and our writers coffee replenished.