6 African Business August/September 2019
Business Intelligence News
US imposes travel restrictions on Nigerians for ‘undermining democracy’
The US Department of State has imposed visa restrictions on unnamed Nigerians who it alleges were “responsible for, or complicit in, undermining democracy” in the 2019 elections. “These individuals have operated with impunity at the expense of the Nigerian people and undermined democratic principles and human rights,” said a statement from the department, emphasising that the actions were specific to certain individuals “and not directed at the Nigerian people or the newly elected government.”
Ethio Telecom earned 36.3bn Ethiopian birr ($1.26bn) during the last financial year
Ethio Telecom’s earnings rise by 7%
Ethio Telecom earned 36.3bn Ethiopian birr ($1.26bn) in revenue during the last fi nancial year, a rise of 7%. The government is considering privatising the company as it looks to open up the economy to foreign investors. The chance to compete in the long-closed telecommunications sector is coveted by international operators.
World Bank supports fight against Ebola in DRC
The World Bank is to provide $300m in grants and credits to support the fi ght against Ebola in the Democratic Republic of Congo. The lender said that the support would cover around half of a response plan being discussed between the DRC government and an international consortium.