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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- In connection of the thriving financial consequence, hinted to the eruption of the Coronavirus (COVID-19), Stanbic Bank Tanzania has declared deficit assistance for its customers by giving them with a 3-6-months expenditure vacation. It started up in April for the tourism sector and has presently broadened to the Energy, Transport and Small Medium Enterprise (SME) Sector. The drive is part of the bank’s renewed endeavor to finance its clients; by way of providing them with positive models, that will deliver a support from the financial impact of the Coronavirus outburst. Brian Ndadzungira – Stanbic Bank Head of Personal and Business Banking clarified that, the bank acknowledges the significance of its...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- World Bank has ratified a $1 billion loan for Kenya, as a road map to enable the East African nation to finish off a gaping allotment depletion and by extension, to grasp the financial traumas from Coronavirus Novel Coronavirus pandemic. The loan, begun before the health emergency commenced, is the succeeding ever such immediate lending for the budget from the World Bank, after the first was distilled in 2019. “Its approval is timely, since it will help fill the financing gap generated by the severe, ongoing shock to Kenya’s economy,” the World Bank asserted in a statement. The budget deficit has swollen to 8.2% of GDP in the financial year to the end of June, from an initial forecast of under...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The South Africa-based African Business unveiled in a hierarchy of the continent’s lid 250 corporations that, TBL Plc and Vodacom Tanzania Plc are the two extensively expensive companies in the country. At the continental level, TBL Plc has been indexed 75th while Vodacom Plc stance at 98th. The scales, which are founded on corporations demand capitalization at the end March, also positioned the Tanzania Cigarette Company as the 105th most valuable company in Africa while NMB Bank Plc posture on 134th whereas Tanzania Portland Cement Company Limited winds up the list of the country’s five most valuable firms on African Business’ list. TBL Plc’s market value was placed at $1.396 billion (about Sh3.2 trillion)...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- Two Eastern African nations – Kenya and Tanzania are adored to be recorded among sixteen African nations verify to profit from 2Africa – a subsea 4G and 5G internet operation, that will connect them to Europe and the Middle East. It is believed that the project is a 37,000-kilometre project; that consolidates telecommunications corporations constituting China Mobile International, Facebook, MTN GlobalConnect, Orange, Stc, Telecom Egypt, Vodafone, and WIOCC. Apparently, the companies have authorized Alcatel Submarine Networks to assemble the cable. The additional African regions in the project are Madagascar, Mozambique, South Africa, Democratic Republic of Congo, Republic of Congo, Gabon,...