South Africa's President Pledges Economic Revival and Inclusion of the poor Drew Mcgee Jul 19, 2024 Facebook X (Twitter) WhatsApp Copy link South African President Cyril Ramaphosa delivers a policy speech to the new parliament, outlining plans to revive the economy President Cyril Ramaphosa has pledged to revive South Africa's struggling economy and ensure prosperity reaches all citizens. In his first policy speech to the new parliament, Ramaphosa outlined plans to resuscitate factories and farms, build infrastructure, and seize opportunities in green energy. Following the African National Congress's (ANC) loss of its ruling majority in May, the party now leads a coalition government with the main opposition, the Democratic Alliance (DA). Ramaphosa's speech highlighted a commitment to transform the nation into a "construction site" with extensive development of roads, bridges, houses, schools, hospitals, clinics, and power lines. Acknowledging South Africa's economic stagnation over the past 15 years, Ramaphosa emphasized the need to address high unemployment, poverty, and inequality. He stressed the importance of inclusive growth, using the term "inclusive" 18 times to signal his dedication to economic justice. Key policies for the next five years include pursuing macroeconomic strategies to support growth , stabilizing the national debt, overhauling the freight rail network, training youth in digital skills, and investing in renewable energy projects. Ramaphosa highlighted a significant pipeline of renewable energy projects, representing over 22,500 megawatts. Ramaphosa and DA leader John Steenhuisen emphasized the coalition government's determination to work in the interests of all South Africans, with Ramaphosa dubbing the partnership a "cooperation nation." By focusing on infrastructure development, digital skills, and renewable energy, Ramaphosa aims to set South Africa on a path to economic recovery and inclusivity. Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline . Related Posts Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline .

Manchester United appoint Portuguese Ruben Amorim as head coach Serge Kabongo Nov 1, 2024 Facebook X (Twitter) WhatsApp Copy link Ruben Amorim named new Manchester United manager Portuguese Ruben Amorim has become the new head coach of the English football club Manchester United, the team’s press service reported. The club noted that he will join the team on November 11 and will work until June 2027 with an option to extend the contract for another year, provided that the tasks set for the club are fulfilled On October 28 of this year, Manchester United dismissed head coach Erik ten Hag, with whom the Red Devils showed their worst result in the English championship since 1990, finishing only in eighth place. His assistant Ruud van Nistelrooy was appointed acting coach after the departure of the Dutch specialist. Amorim is 39 years old, he played for such Portuguese clubs as Benfica, and Braga. As a coach, he worked in Braga and Sporting. He became the winner of the Portuguese Champion title twice and won the Portuguese League Cup four times. Kenyan Federation Elections Sammy Owino Pledges to Eradicate Corruption in Kenyan Football English Premier League Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal AFCON Build_Ups Uganda Allocates Shs350 Billion for CHAN 2025 Preparations English Premier League Ipswich Captain Faces Backlash After Declining Rainbow Armband Related Posts Sammy Owino Pledges to Eradicate Corruption in Kenyan Football Kenyan Federation Elections . Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal English Premier League . Uganda Allocates Shs350 Billion for CHAN 2025 Preparations AFCON Build_Ups . Ipswich Captain Faces Backlash After Declining Rainbow Armband English Premier League .

Asake to Headline O2 Arena for Second Time louis Buyisiwe Jul 24, 2024 Facebook X (Twitter) WhatsApp Copy link Nigerian singer Asake Famous Nigerian singer Asake is set to perform at the London O2 Arena for the second time. The singer made this announcement in an Instagram post on Tuesday, expressing his excitement about the upcoming event. Asake, who is currently on his ‘Lungu Boy World Tour,’ will be performing at the 20,000-capacity auditorium on September 21. Sharing the flyer, he wrote, “I’m super excited to announce that my tour ‘Lungu Boy World Tour’ is coming to a city near you. London Lungu BY is Active @theo2london Saturday 21st September.” According to DAILY POST, Asake’s tour, which began in Portimao, Portugal on June 20 , will conclude on October 6 in Gold Coast, Australia. Last year, Asake delivered a sold-out performance at the O2 Arena, showcasing his immense popularity and talent. Fans are eagerly anticipating another electrifying performance from the Nigerian artist, whose dynamic presence and captivating music continue to resonate with audiences worldwide. Related Posts Alikiba Surpasses 200 Million Boomplay Streams, Joining Bongo Flava's Elite Read More Tanzania Afrobeat Celebrities Wizkid’s Morayo Makes Billboard 200 Debut with Emotional Tribute Read More Nigeria | African Music Ruger and Victony Set to Light Up Kigali’s BK Arena This December Read More Rwanda | African Music Bishop Mbonyintege Condemns Comedians Impersonating Clergy Read More Rwanda | Comedy

Kenya Aviation Workers Threaten Strike Over Proposed Deal with India’s Adani Group Griffith Sarah Aug 13, 2024 Facebook X (Twitter) WhatsApp Copy link Jomo Kenyatta International Airport Kenya’s aviation sector faces potential turmoil as the Kenya Aviation Workers Union (KAWU) has announced plans for a strike starting next Monday. The union, representing airport workers, is protesting a proposed deal with India’s Adani Airport Holdings to develop Jomo Kenyatta International Airport (JKIA), the country’s largest aviation hub. KAWU claims that the agreement, which was unveiled last month, threatens to result in job losses and the introduction of non-Kenyan workers into the workforce. The union has issued a seven-day strike notice, demanding that the government cancel what it has termed the "unlawful intended sale of JKIA to Adani Airport Holdings." The Kenyan government, however, has clarified that the airport is not for sale. It has stated that no final decision has been made regarding the proposed public-private partnership intended to upgrade JKIA. Despite these assurances, KAWU remains firm in its stance, with Secretary General Moss Ndiema stating that the union will only reconsider industrial action if the deal with Adani Airport Holdings is completely abandoned. The proposed strike poses a significant risk to the operations of Kenya Airways, the national carrier, which could face major disruptions if the industrial action goes ahead. Adani Group, the Indian conglomerate involved, has yet to comment on the situation. Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline . Related Posts Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline .

AFCON 2025: Super Eagles Need One Point to Secure Qualification Prince Jean Nov 12, 2024 Facebook X (Twitter) WhatsApp Copy link Super Eagles prepare for a decisive AFCON 2025 qualifier against Benin Republic, needing just one point to secure their place in the tournament. Credit:gettyimages Nigeria's Super Eagles are set to face Benin Republic's Cheetahs in an AFCON 2025 qualifier on Thursday at 8 p.m. The match will be held at the Felix Houphouet Boigny Stadium in Abidjan, Ivory Coast. Nigeria enters the game following a ruling on October 26 by CAF’s disciplinary committee, which awarded them three points and three goals after their previous qualifier against Libya was abandoned. The Nigerian team had been detained at Al-Abraq Airport for over 18 hours before the second leg match with the Libyan side. Benin Republic comes into this game after a 2-1 loss to Rwanda. The last encounter between Nigeria and Benin was in September at the Godswill Akpabio International Stadium, Uyo, where Nigeria won 3-0, with Ademola Lookman scoring twice and Victor Osimhen adding another goal. Super Eagles caretaker coach, Augustine Eguavoen, has announced a 23-man squad for the qualifiers against Benin on Thursday and Rwanda on Monday in Uyo. Striker Victor Osimhen returns to the team after missing the last match due to injury. Nigeria currently leads AFCON qualifier Group D with 10 points from four matches, followed by Benin Republic with six points. Rwanda holds five points, while Libya is at the bottom with one point. Nigeria needs just one point from their remaining matches against Benin and Rwanda to secure a place in AFCON 2025 in Morocco. Isa Saleh, co-founder of Borno Junior League, believes the match will be tough but expects Nigeria to win and maintain their lead in Group D , highlighting the team's strong recent form. Former TTC Football Academy coach, Emmanuel Brown, is also confident in Nigeria's chances despite the home support Benin is expected to have in Ivory Coast. Brown praised the Super Eagles' attack, featuring Osimhen, Victor Boniface, and Lookman, and predicted a 2-1 victory for Nigeria. Kenyan Federation Elections Sammy Owino Pledges to Eradicate Corruption in Kenyan Football English Premier League Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal AFCON Build_Ups Uganda Allocates Shs350 Billion for CHAN 2025 Preparations English Premier League Ipswich Captain Faces Backlash After Declining Rainbow Armband Related Posts Sammy Owino Pledges to Eradicate Corruption in Kenyan Football Kenyan Federation Elections . Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal English Premier League . Uganda Allocates Shs350 Billion for CHAN 2025 Preparations AFCON Build_Ups . Ipswich Captain Faces Backlash After Declining Rainbow Armband English Premier League .

Miss Rwanda Muheto Could Face 1 Year and 8 Months in Prison Prince Jean Oct 31, 2024 Facebook X (Twitter) WhatsApp Copy link Miss Rwanda 2022, Nshuti Muheto Divine, attends her bail hearing at the Kicukiro Primary Court on 31 October 2024, where she faces charges related to driving offences and property damage. Instagram/@igihe On 31 October 2024, Miss Rwanda 2022, Nshuti Muheto Divine, appeared before the Kicukiro Primary Court for a bail hearing regarding charges filed by the prosecution, including driving under the influence, driving without a valid licence, causing property damage, and allegedly fleeing the scene after an accident. Represented by a team of three defence lawyers, Muheto admitted to the charges except for the accusation of fleeing the scene. During her statement, she acknowledged driving while intoxicated, lacking a valid driver’s licence, and causing an accident but denied attempting to escape. The prosecution presented its case, stating that Muheto was drinking at the 'Atelier du Vin' bar until midnight before driving home. Due to her lack of driving experience and high alcohol level, she reportedly collided with an electric pole and a tree. After the incident, witnesses claim she initially left the scene but returned shortly after to retrieve her phone, at which point the police had already arrived. According to the prosecution, she then denied being the driver. The prosecution highlighted that this was not Muheto’s first offence, noting a previous incident on 23 September 2024, after which she was counselled and expressed remorse. The prosecution urged the court to convict her on all three charges. Evidence showed her blood alcohol concentration was 4.00, significantly above the legal limit of 0.8. Defence Statement and Request for Leniency In her defence, Muheto stated, “I admit to driving under the influence, driving without a licence, and causing an accident, but I deny fleeing the scene.” She clarified that after the accident, she only moved aside due to the crowd but remained nearby and awaited the police. One of her lawyers argued that Muheto has shown remorse and cooperated with the authorities. He further stated that she held a provisional driver’s licence and was familiar with road regulations but had failed to obtain a permanent one. He emphasised that the pole and tree she struck were still intact, and if she had intended to flee, she would have left immediately after the accident, given she had access to a vehicle. Prosecution Seeks a Sentence of 1 Year and 8 Months The prosecution requested a cumulative sentence based on each charge: 1. Driving under the influence: 6 months in prison and a fine of RWF 180,000. 2. Driving without a valid licence: 2 months in prison and a fine of RWF 10,000. 3. Fleeing after causing an accident: 1 year in prison and a fine of RWF 30,000. Altogether, the recommended sentence amounts to 1 year and 8 months of imprisonment and a total fine of RWF 220,000. Muheto’s defence lawyer requested leniency, emphasising her remorse and cooperation. He asked the court to consider a monetary penalty in place of imprisonment. In her closing statement, Muheto appealed to the court, saying, “During my time in detention, I have reflected and learned. I ask for forgiveness for my actions and assure the court that this will never happen again.” Legal Context: Concurrent and Consecutive Sentencing Under Rwandan law, concurrent and consecutive sentencing are applied differently based on the nature of the offences. Concurrent sentencing ( mbonezamugambi ) applies when a single act results in multiple offences; in this case, only the longest sentence is applied. Consecutive sentencing (mbonezabyaha) applies when multiple acts result in separate offences, leading to a cumulative sentence. For cumulative sentences, the total sentence cannot exceed twice the maximum term of the most severe offence. For example, if someone faces sentences of 15, 10, and 8 years, the maximum term imposed cannot exceed 30 years (double the highest single offence, which is 15 years). Related Posts Alikiba Surpasses 200 Million Boomplay Streams, Joining Bongo Flava's Elite Read More Tanzania Afrobeat Celebrities Wizkid’s Morayo Makes Billboard 200 Debut with Emotional Tribute Read More Nigeria | African Music Ruger and Victony Set to Light Up Kigali’s BK Arena This December Read More Rwanda | African Music Bishop Mbonyintege Condemns Comedians Impersonating Clergy Read More Rwanda | Comedy

Bnxn’s Electrifying Kigali Debut: A Night of Hits and Unforgettable Vibes Prince Jean Nov 24, 2024 Facebook X (Twitter) WhatsApp Copy link Bnxn captivates Kigali fans during his first-ever concert in Rwanda, showcasing hits like 'Finesse' and 'Gwagwalada' at Camp Kigali. Nigerian singer Daniel Etiese Benson, popularly known as Bnxn, delighted fans during his debut concert in Rwanda. The event took place on Saturday, November 23, 2024, at the Kigali Conference and Exhibition Village (KCEV), also known as Camp Kigali. The concert, part of the annual "Friends of Amstel Experience" event, featured several other artists, including Kenny K-Shot, Mistaek, Bruce The 1st, ET, Nillan, and more. The show began with Symphony Band, performing songs like "Respect" and "Ide." They were followed by Shema Qusay Diaby, known as QD, who performed tracks like “Teta.” Rising star ET Ndahigwa sang hits such as "Coconut" and "Standard." Nillan entertained the audience with fan-favorites like “Credit Card,” a collaboration with Mistaek, and “Sober.” Bruce The 1st also wowed fans with tracks like “Ku Mihanda,” a duet with Juno Kizigenza, and “Bwe Bwe,” performed with Ish Kevin, Kenny K-Shot, and Bulldogg. Mistaek kept the energy high with songs like “Ku Cyaro” and “Ndi kwikora.” Kenny K-Shot, despite recently recovering from illness, performed crowd-pleasers such as “Intare,” “Kantona,” and “Tequila.” When Bnxn finally took the stage, fans welcomed him with overwhelming excitement. He performed his biggest hits, including "Ole" (with Qing Madi), "Finesse" (with Pheelz), "Gwagwalada" (with Kizz Daniel and Seyi Vibez), "Propeller" (with JAE5 and Dave), "Bae Bae," and "Cold Outside" (with Timaya). During his performance, he repeatedly expressed his love for Kigali , saying, “Kigali, I love you!” He sang using playback. Bnxn’s rise to fame began after being discovered by Nigerian music legend 2Baba. In October 2021, he launched his career with the EP "Sorry I'm Late." His collaboration with Pheelz on "Finesse" in March 2022 and the hit "Propeller" in July 2022 solidified his popularity globally. Related Posts Alikiba Surpasses 200 Million Boomplay Streams, Joining Bongo Flava's Elite Read More Tanzania Afrobeat Celebrities Wizkid’s Morayo Makes Billboard 200 Debut with Emotional Tribute Read More Nigeria | African Music Ruger and Victony Set to Light Up Kigali’s BK Arena This December Read More Rwanda | African Music Bishop Mbonyintege Condemns Comedians Impersonating Clergy Read More Rwanda | Comedy

Millen Magese to Lead Prestigious Panel at Samia Fashion Festival Prince Jean Nov 28, 2024 Facebook X (Twitter) WhatsApp Copy link Millen Magese, appointed as Chief Judge for the Samia Fashion Festival, aims to elevate Tanzanian fashion on the global stage. Model Millen Magese has been named Chief Judge for the Samia Fashion Festival, scheduled for November 30, 2024, in Zanzibar. Expressing her honor, Magese stated, “This is a historic moment that celebrates not only fashion but also our heritage.” She emphasized that the "Samia Attire" symbolizes leadership, respect, and modesty, aiming to make it a national and global emblem of Tanzanian pride. The judging panel includes actor and comedian Idris Sultan, designer Khadija Mwanamboka, politician and former beauty queen Jokate Mwegelo, fashion designer Martin Kadinda, community leader and former Miss Tanzania Faraja Nyalandu, and Miss Tanzania winner Nancy Sumari. The festival, organized by Mwanamboka, aims to unite designers and creatives to support children living with HIV/AIDS and cancer. Sultan highlighted the significance of empowering women leaders, noting, “President Samia is a remarkable example of women’s leadership, and this event reflects her vision for the cultural and creative sectors.” Magese urged Tanzanians to support President Samia’s initiatives to promote culture and advance the fashion and beauty industries. The Samia Fashion Festival aspires to position Tanzania as a global fashion industry player while honoring President Samia Suluhu Hassan's legacy. The event is expected to make a lasting impact on Tanzanian fashion and culture. Related Posts Alikiba Surpasses 200 Million Boomplay Streams, Joining Bongo Flava's Elite Read More Tanzania Afrobeat Celebrities Wizkid’s Morayo Makes Billboard 200 Debut with Emotional Tribute Read More Nigeria | African Music Ruger and Victony Set to Light Up Kigali’s BK Arena This December Read More Rwanda | African Music Bishop Mbonyintege Condemns Comedians Impersonating Clergy Read More Rwanda | Comedy

Benzema: Player More Deserving of Ballon d'Or Than Rodri Prince Jean Oct 30, 2024 Facebook X (Twitter) WhatsApp Copy link Karim Benzema in an interview, expressing his support for Vinicius Jr. as the rightful winner of the 2024 Ballon d'Or, following the award ceremony in Paris. Credit:gettyimages Al-Ittihad forward Karim Benzema has publicly supported Vinicius Jr. for the 2024 Ballon d’Or, stating the Brazilian winger was more deserving of the award than the actual winner, Rodri of Manchester City. Despite finishing as runner-up, Vinicius and several Real Madrid teammates expressed their dissent by not attending the award ceremony held in Paris. In an interview with El Chiringuito TV , Benzema shared his conversation with a disheartened Vinicius, emphasizing that although he respects Rodri's skills, he believes Vinicius had a more impactful performance worthy of the accolade. Kenyan Federation Elections Sammy Owino Pledges to Eradicate Corruption in Kenyan Football English Premier League Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal AFCON Build_Ups Uganda Allocates Shs350 Billion for CHAN 2025 Preparations English Premier League Ipswich Captain Faces Backlash After Declining Rainbow Armband Related Posts Sammy Owino Pledges to Eradicate Corruption in Kenyan Football Kenyan Federation Elections . Amorim Calls for Bravery as Manchester United Prepares to Face Arsenal English Premier League . Uganda Allocates Shs350 Billion for CHAN 2025 Preparations AFCON Build_Ups . Ipswich Captain Faces Backlash After Declining Rainbow Armband English Premier League .

R. Kelly’s Daughter Shares Allegations of Childhood Abuse Prince Jean Oct 14, 2024 Facebook X (Twitter) WhatsApp Copy link R. Kelly’s Daughter Alleges Childhood Sexual Abuse. Credit:gettyimages Joann Kelly, daughter of the well-known American singer R. Kelly, has come forward with allegations of childhood sexual abuse by her father. In a revealing two-part documentary series titled "Karma: A Daughter's Journey" on the TVEI Streaming Network, Joann shares that she first confided in her mother, Drea, about the abuse in 2009. Now 26 years old, Joann chose not to discuss specific details of the alleged abuse but asserted in the documentary that her father's recent jail sentences are justified. She expressed a deep emotional conflict and reluctance to accept the reality of the abuse initially, emphasizing the profound impact it had on her life and identity. “I was too scared to tell anybody. I was too scared to tell my mom. I really feel like that one millisecond completely just changed my whole life, who I was as a person and the light I used to carry," Joann disclosed in the documentary. Following her disclosure to her mother, Joann and her siblings ceased visits to their father’s residence, marking a significant turning point in their relationship with him. She admits to struggling significantly with the aftermath of the revelations. In response to the documentary, Jennifer Bonjean, R. Kelly’s lawyer, issued a statement denying the allegations. R. Kelly was sentenced in February 2023 to 20 years in prison for charges of child pornography and enticement, which will run concurrently with a 30-year sentence from a separate 2022 New York case involving similar offenses. Related Posts Alikiba Surpasses 200 Million Boomplay Streams, Joining Bongo Flava's Elite Read More Tanzania Afrobeat Celebrities Wizkid’s Morayo Makes Billboard 200 Debut with Emotional Tribute Read More Nigeria | African Music Ruger and Victony Set to Light Up Kigali’s BK Arena This December Read More Rwanda | African Music Bishop Mbonyintege Condemns Comedians Impersonating Clergy Read More Rwanda | Comedy

Without Urgent Global Aid, Thousands Could Die from Hunger, Disease, and Floods in Sudan, IOM Warns Ayize claire Aug 13, 2024 Facebook X (Twitter) WhatsApp Copy link Displaced children in Sudan wait in line to receive food aid. The International Organization for Migration (IOM) has issued a stark warning, urging the global community to intensify its support for Sudan as the country grapples with the world's largest displacement crisis. With conflict, hunger, disease, and floods threatening millions, the IOM has cautioned that inaction could result in tens of thousands of preventable deaths. According to Mohamed Refaat, the head of IOM’s Sudan mission, the organization has only received 21% of the funding required to deliver essential aid to the Sudanese population. The lack of adequate support has left millions vulnerable as the humanitarian situation continues to deteriorate. "The international community is not doing enough," Refaat emphasized during a recent briefing. He warned that without an immediate, massive, and coordinated global response, the crisis could escalate, leading to a catastrophic loss of life. Sudan's crisis, which began with a conflict in April 2023, has resulted in widespread ethnic violence and famine-like conditions across the nation. The IOM reports that one in five Sudanese has been displaced, with 10.7 million people internally displaced and an additional 2.3 million fleeing across borders. The IOM's urgent call to action highlights the critical need for international cooperation and increased donations to prevent further tragedy in Sudan. Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline . Related Posts Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline .

African Development Bank Approves $1 Billion Loan for South Africa's Transnet Ayize claire Jul 21, 2024 Facebook X (Twitter) WhatsApp Copy link A Transnet locomotive arrives as people wave South African flags during a ceremony, marking a significant moment for the logistics company The African Development Bank (AfDB) has approved a $1 billion loan for South Africa's Transnet to support the struggling logistics firm's recovery plan, the bank and company announced on Thursday. State-owned Transnet has faced challenges in providing adequate freight rail and port services due to equipment shortages and maintenance backlogs from years of under-investment. This has affected commodity exports and sectors such as manufacturing and retail, weakening Africa's most advanced economy. The 25-year loan, fully guaranteed by the South African government , will fund the first phase of Transnet's ZAR 152.8 billion ($8.1 billion) five-year capital investment plan. This plan aims to enhance the company's existing capacity before expanding key segments of the transport value chain. Transnet, with debts of 130 billion rand, reported a loss of 1.6 billion rand for the six months ending September 30, driven by declining rail, port, and pipeline volumes and higher costs. Freight volumes have dropped to 150 million metric tons in the 2022/23 financial year from 226 million tons in 2017/18. Transnet's recovery plan, announced in October 2023, aims to restore freight volumes and return the company to profitability within 18 months. The turnaround strategy includes splitting the freight rail subsidiary into an infrastructure management company and an operating unit, reducing port backlogs, and reopening parts of its rail network to private operators after a failed attempt two years ago. Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline . Related Posts Business and Industry Thika Cloth Mills Boosts Kenya’s Cotton Industry . Banking and Finance Northern Senators debated Tax Reform Bills aimed at easing tax burdens, boosting local revenue . Samsung Galaxy Z Samsung's Galaxy Z Fold 6, Z Flip 6, Watch 7, Watch Ultra, Buds 3, and Buds 3 Pro Debut at Unpacked Event . Energy and Commodities This is What will happen to those who breach Eskom meter upgrade deadline .