Business

Two Kenya Airways cabin crew members have been arrested on suspicion of trying to smuggle drugs out of the Jomo Kenyatta International Airport in the capital, Nairobi.

Mauritius has been ranked the topmost country on the continent in the latest World Bank ease of doing Business report. The country occupied the 25th position out of 190 countries.

Zimbabwe will soon have a new private airline to be called the Zimbabwe Airways which should bring some relief to the country.

Samsung Electronics logged a record profit of $10.0 billion for the third quarter and announced a sweeping reshuffle of its top management on Tuesday, seeking to maintain its lead while its heir is in prison.

Shoprite Holdings is in talks to open its first stores in Kenya by filling retail space left empty by the struggling Nakumatt Holdings chain.

Nigeria’s Justice Minister Abubakar Malami, has said that the country recently recovered $85 million of stolen assets from the UK. He claimed the money is linked to the Malabu scandal, a major case of alleged bribery involving oil giants Shell and ENI.The Malabu scandal is one of the biggest corruption cases to hit Nigeria’s oil industry. Investigators in Nigeria and in Italy claim that $1.1bn – which was paid to the government by international oil companies in 2006 – never made it into the national coffers.

The Board of Directors of the African Development Bank (AfDB) has approved a line of credit (LOC) of US$ 3 million (synthetic local currency equivalent) to Union Trust Bank Sierra Leone.

Giant soft-drink producer, Coca-Cola on Tuesday said it would be investing $90 million in Kenya to expand its products for a three year period.

Leaders of the West African sub-region have decided to speed up efforts at institutionalizing a common currency for bloc after meeting in Niamey, Niger.

The government of Ghana is beginning the auction of its 2.5 billion dollar energy bond on Tuesday.