The 25 wealthiest dynasties on the planet control $1.4 trillion (Shs15 Quadrillion). The numbers are mind-boggling: $70,000 (Shs258.8 million) per minute, $4 million (Shs15.7 billion) per hour, $100 million (Shs369.8 billion) per day. That’s how quickly the fortune of the Waltons, the clan behind Walmart Inc., has been growing since
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A US company involved in the cultivation and processing of marijuana has announced plans to cross-list on the Nairobi Securities Exchange (NSE), putting to test Kenya’s resolve to maintain the drug on the list of banned narcotics amid legislative pressure to legalise it, Business Daily reports. The firm, Bangi Inc.,
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Investigations by the anti-graft agency into a controversial trip by Siaya MCAs to Uganda took a shocking twist after it emerged that a dead member was listed among those who travelled to Jinja, Uganda, in February. It had been alleged that 41 members of the County Assembly stage-managed the trip.
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The cash-strapped Zimbabwean government said on Tuesday that it will amend its laws to allow industrial production and export of cannabis (marijuana) in a desperate effort to boost its foreign currency earnings, Business Day reports. Information minister Monica Mutsvangwa said the country is looking to make cannabis exports a top
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Amazon founder and CEO Jeff Bezos sold over 530,000 Amazon shares in the first two days of August for $990 million (UShs3.6 trillion). After taxes, he will net an estimated $750 million (UShs2.76 trillion) in cash from the sales. The sales on August 1 and 2 followed $1.4 billion (after-tax)
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The Next Einstein Forum (NEF) today announced its third Class of NEF Fellows, 25 strong scientists, all under 42 years, whose research and innovations are contributing to solve Africa's and the world's most pressing challenges. "I am excited to announce the 3rd class of NEF Fellows for two reasons. The
Read MoreEnergy Generation has launched the Business & Energy School, the first school in West Africa to train tomorrow's African leaders in the fields of energy, technological innovation and entrepreneurship. A customized and innovative entrepreneurial training Through the BE School, Energy Generation wishes to offer an outstanding training available directly on
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Zimbabwe’s Econet Wireless Ltd. will shut its African pay-TV unit due to the country’s economic condition and shortage of foreign currency, group Chief Executive Officer Douglas Mboweni said. “We regret to announce the discontinuation of Kwese TV Satellite Service with effect from Aug. 5,” Mboweni said in a statement Sunday.
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Zimbabwe’s finance minister responded to the country’s worsening economic crisis last week by blacking out inflation statistics for the next six months, boosting the price of the little power that’s available five-fold and admitting what the International Monetary Fund told him in April: the economy will contract for the first
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The border between the city of Goma in the Democratic Republic of Congo and the Rwandan city of Gisenyi has been closed to stop the spread of Ebola, witnesses have told the BBC. It comes a day after a second person died of the virus in Goma, which is home
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