In Kenya, the Energy and Petroleum Regulatory Authority announces the reduction of fuel prices. Uganda still faces foot-and-mouth disease as the Democratic Republic of Congo (DRC) signs a new mining contract with Chinese investors. Flashback on the events that marked regional news.
The weakening of the dollar has helped reduce prices at the pump.
The Energy and Petroleum Regulatory Authority (Epra) has reduced the price of petrol by 7.21 shillings per litre, diesel by 5.09 shillings and kerosene by 4.49 shillings. Fuel prices drop below 200 shillings. This means that in Nairobi, petrol will retail at a maximum of Sh199.15 per litre, while diesel and kerosene will retail at Sh190.38 and Sh188.74 respectively.
This decline is due to the appreciation of the shilling against the US dollar. The weakening of the dollar has helped reduce prices at the pump. The shilling has risen further this month, raising the prospect of even lower fuel prices at the next revision. The new prices will be in effect until April 14. This decline, coupled with a drop in food prices, has helped to stabilize inflation in recent months. Fuel plays a major role in the cost of living, as it is used in a wide range of sectors, including transport, power generation and agriculture. Thus, inflation fell to 6.3% in February, according to the Kenya National Bureau of Statistics. This is the lowest annual inflation since March 2022, reports Business Daily.
DRC: signature of a mega mining contract worth 7 billion USD
The renegotiated mining contract between the Congolese government and the Chinese Enterprise Group (GEC) was initialed this Thursday, March 14, 2024 in the presence of Head of State Félix Tshisekedi. The amendment to the initial contract increases the investment in infrastructure from 3.2 to 7 billion USD. “ This represents the construction of more or less 5,000 km of roads », Specified Alexis Gisaro, Minister of State, Minister of Infrastructure and Public Works.
A first disbursement of more than 700 million USD is planned for emergency road works in the city of Kinshasa and some roads of national interest. In a month, road construction work will be launched in Kinshasa, Greater Equator, Kasaï Oriental, Haut-Lomami and Lualaba, report our colleagues from the radio Okapi.
This amendment also establishes the participation of the Congolese government in the capital of SICOHYDRO of Busanga at the rate of 40%. This is the ratification of the fifth amendment to the mining contract between the DRC and the Chinese Enterprise Group (GEC) since April 2008.
Towards the escalation of tensions between Kigali and Kinshasha?
Rwandan President Paul Kagame says he is ready to meet his counterpart from the Democratic Republic of Congo (DRC) to discuss the crisis raging in the east of the country, reports the regional press without specifying the circumstances or the places and date of the meeting. the organization of these meetings.
This announcement was made by the Angolan Minister of Foreign Relations, Tete Antonio, on the sidelines of Kagame’s visit to Luanda. Tete Antonio speaks of a development after the meeting between the two leaders. “Rwanda and the DRC have agreed in principle to hold this meeting, the ministerial delegations of the two parties working in this direction”, reveal our colleagues from the newspaper The East African.
The amendment to the initial contract increases the investment in infrastructure from 3.2 to 7 billion USD.
As a reminder, Angolan President João Lourenço mediates on behalf of the African Union. The mediation efforts arise from the need to address the recent escalation of conflicts in eastern DRC. The DRC has accused Rwanda of supporting the M23 rebels, an accusation rejected by Kigali. The rebel group that resurfaced in late 2021 has sparked unprecedented conflicts and humanitarian crises.
Tanzania, a trading partner of India
Trade between the two countries reached a record high of USD 6.4 billion in the 2022-2023 financial year. “ Our bilateral trade is expected to exceed $7 billion this fiscal year said Mr. Manoj Verma, Head of the Indian High Commission in Tanzania during his speech at the Tanzania/India Business Forum.
For this financial year, the value of trade between the two countries has already exceeded 5.7 billion USD. This is the result of the favorable investment agreements between the two countries. India remains the leading destination for Tanzanian exports as 98% of Tanzanian products enjoy duty-free access to the Indian market. On the other hand, India is among the top five investors in Tanzania with an investment worth $3.93 billion. Indian investments cover key sectors such as health, education, mining and agribusiness.
With the project to create an Indian industrial park, investments are expected to increase considerably. Indian companies have already expressed interest in maximizing investments in pharmaceuticals, agribusiness, infrastructure and automobiles. To facilitate trade, the two countries want to promote bilateral trade in local currencies – Indian rupee and Tanzanian shilling – via the creation of special accounts. Which will encourage Indian and Tanzanian banks and companies to boost trade transactions, concludes The Citizen.
Uganda: foot and mouth disease still rages
Thousands of jobs and livelihoods are at risk following a ban on meat marketing in the Ugandan capital. The measure was taken to stem the spread of a deadly epizootic: foot-and-mouth disease. However, the measure is not scrupulously followed in Kampala. More than 30 districts in the cattle corridors are still under quarantine due to the same disease, but municipal authorities reject the ban on meat sales. “People should continue to eat meat, but we encourage meatpackers to ensure animals are tested before they are slaughtered. »
More than 30 districts in the cattle corridors are still under quarantine.
The President of the Uganda Veterinary Association (UVA), Dr Daniel Kasibule calls for compliance with preventive measures. For him, those who violate quarantine in Kampala are breaking the law on animal diseases. The Animal Diseases Act gives the prerogatives to the Commissioner of Animal Husbandry and Entomology to prohibit in any place the slaughter of cattle for food purposes and the sale of meat or carcasses for the purpose of preventing the spread of diseases. diseases, notes The Daily Monitor.
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