Sunday, June 23, 2024

Ethiopian Airlines warns travelers of growing fraudster activity

The management of Ethiopian Airlines cautioned passengers to be mindful of the increasing activities of scammers posting fake travel information online.

A press release signed by the General Manager, Ethiopian Airlines Nigeria, explained that there has been a recent increase in the activities of scammers who post fake promotions and payment platforms in Nigeria for different airlines.  This necessitates a notice to travelers and the public to beware of being taken by surprise.

The press release stated that the management of Ethiopian Airlines is appealing to the public to always crosscheck the website and payment advice sent to them as many travelers are falling victim to these scammers.

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It also stated that it had come to their notice that scammers and hackers were setting up fake websites with similar names to theirs to deceive passengers.

The release firmly stated that Ethiopian Airlines will not call anyone for payment or ask passengers to pay into any account and that passengers should crosscheck all links before making payments.

(Nigerian Tribune)

Akobo Minerals enters mandate agreement with an international loan organizer

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The Scandinavia-based Ethiopian gold exploration and boutique mining company, Akobo Minerals, has signed a mandate letter with an international debt arranger for a contemplated loan of up to USD eight million.

The contemplated loan is expected to provide Akobo with sufficient funding to complete its mining development at its Segele project and start production in the first quarter of 2023.

Pursuant to the mandate letter, the intention is to complete all conditions precedent, including a customary due diligence, site visit, and agreement on relevant documentation, prior to entering into the final loan agreement.

Further, it is expected that Akobo will grant the lender warrants representing two percent of its equity, with a strike price equal to Akobo’s share price on the mandate letter signing date, where such warrants will vest immediately.

The mandate letter is not a binding loan agreement and there can be no guarantees that a final loan agreement will be entered into and/or that the loan will be funded to Akobo, the company pointed out.


4,765 trucks carrying relief supplies entered Ethiopia’s Tigray region since April: UNHCR

The United Nations High Commissioner for Refugees (UNHCR) said a total of 4,765 trucks carrying relief supplies have entered Ethiopia’s conflict-hit Tigray region since April.

The UNHCR, in its latest Ethiopia emergency situation update posted on Wednesday, said that since the resumption of humanitarian convoys into the Tigray region in April, 4,765 trucks carrying relief supplies have entered the region, including more than 60 trucks from the UNHCR.

It warned that the shortage of fuel remains a critical bottleneck to sustaining relief operations in Tigray, hindering the onward distribution of relief supplies from Mekelle, the regional capital of Tigray, to other areas.

The UN refugee agency said the humanitarian situation across northern Ethiopia continues to seriously impact refugees, the internally displaced and host communities.

Meanwhile, the UNHCR said health services have resumed in the Mai Aini and Adi Harush refugee camps, predominantly hosting Eritrean refugees, with the support of UNHCR providing fuel for ambulances to facilitate the referral of emergency cases to Shire and other referral hospitals. After ten months, healthcare workers were paid for the first time.

(People’s daily online)

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Catholic Church urges citizens, government to bring peace

Catholic bishops in Ethiopia pleaded that the people and the government should work hard to bring about security for its people. They also stated that the deteriorating of the security situation in the country is leading to the shutdown churches and forcing more priests and nuns to flee. The bishops reiterated that the insecurity had also made it difficult for the church to effectively carry out its pastoral work in many parishes.

“The church is facing a great challenge, especially the lack of peace in our country. Many of our parishes share the challenge. Priests and sisters have fled their monasteries and the number of closed chapels and monasteries is increasing,” Cardinal Surafel Berhaneyesus, chairman of the Ethiopian bishops’ conference, said in late July.

Cardinal Surafel said the Church is ready to provide urgent assistance for people affected by the drought, while urging stakeholders to do the same. The church is also ready to provide support for the realization of the planned national dialogue, according to the Cardinal.



Safaricom to lose Sh1.5 bln in new tariff deal

Safaricom stands to lose an estimated Sh1.5 billion annually after it reached an agreement with the Communications Authority of Kenya to cut mobile termination rates (MTR) from the current Sh0.99 per minute to Sh0.58 per minute.

MTRs are the charges levied by a mobile service provider on other operators for terminating their voice calls on its grid.

Safaricom is the major beneficiary of the MTRs due to its leading market share in the voice business, with the telco recording a net gain of Sh3.8 billion from its rivals Airtel Kenya, Telkom Kenya, and Equitel in the year ended June 2021 under the current tariff.

The new proposed rate, to be affected for one year starting this month, will cut Safaricom’s net income from the charges by 41 percent, to about Sh2.2 billion, while rivals will save on what they have been paying to the Nairobi Securities Exchange-listed firm.

Safaricom’s earnings from the charges were to fall by a much steeper margin based on the earlier move by CA to cut MTR to Sh0.12 per minute effective at the beginning of this year.


Cost of flour in Kenya set to increase as subsidy ends next week

Consumers are staring at expensive flour as the subsidy program is expected to come to an end next week.

The government, in an agreement with millers, agreed in July that the subsidy program was to end after a month. This is despite President Uhuru Kenyatta’s announcement that the program would continue indefinitely.

The subsidy program was started to ease the price of flour that had shot to a historic high of Sh210 on the back of a shortage of maize. The prices have so far dropped to Sh100, but the flour is hardly found in shops.

“The program was to run for a month from the contract that we had with the government. It is coming to an end next week,” said Rajan Shah, chief executive of Capwell Industries.

Naivas supermarket chief commercial officer, Willy Kimani, said supplies have improved but they sell out as soon as they are stocked.

At least 65 percent of our orders have been coming in from the 100 percent order we were getting because of a shortage that exists in the market,” said Kimani.


Rising food, energy prices push inflation

Ugandan households continue to face strong headwinds from soaring living costs after the latest Consumer Price Index (CPI) figures showed a fresh rise in inflation in July.

The prospect of headline inflation hitting double figures looms large after the Uganda Bureau of Statistics (Ubos) revealed on Friday that the headline CPI rate rose from 6.8 percent in June to 7.9 percent in July.

Record prices for fuel and the soaring cost of food continue to show that inflation, which is broad-based, risks becoming sticky. Households continued to come under growing pressure from rising prices at the fuel pumps, as witnessed in the jump in fuel inflation to 56.1 percent from 45.9 percent in June.

Annual transportation inflation rose to 4.6 percent in July, up from 1.7 percent in June, as did motorcycle fares, which jumped from 3.2 percent in June to 18.8 percent in July.

The central bank has previously responded to the current inflationary pressures by raising its policy rate in May and June by one percentage point apiece.


South Sudan cries foul as Kenya levies import duty fees on goods

The South Sudan National Chamber of Commerce on Thursday demanded a reduction of import duty fees levied by Kenya on goods imported into Africa’s youngest nation.

Kenyan authorities recently moved all imports from Mombasa port to Nairobi, with an additional cost of USD 1,600 for each container.

With the new fees, it now costs more than USD 7,000 to bring in a container from Nairobi to Juba.

Ladu Lukak, Deputy Chairperson of the Chamber, said this are the major factors contributing to rising commodity prices.

“The train between Mombasa and Nairobi cost USD 1,400 and we want to transit from Mombasa port to Juba and that is what we requested but it has not materialized,” Lukak told reporters in Juba on Thursday. “Transport costs USD 6,000 and also 1500 for a container and 200 for parking fees which adds up to over USD 9000.”

Lukak also blamed soaring prices in the market on the introduction of a USD 70 digital security tag fee on all vehicles coming into the country by the Ministry of Interior.

 (Sudan’s post)

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