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Zanzibar President, Hussein Mwiny, takes side as controversy around airport terminal continues

Published

2 years ago

January 29, 2023

Dubai-based firm, Dnata has gained the support of Zanzibar’s President Hussein Ali Mwiny, in a row over ground handling services at Terminal 3 of Abeid Amani Karume International Airport.

President Mwinyi at the the opening ceremony of duty-free shops during which he stressed that the Dubai firm has all the necessary qualities to serve at the facility.

“The government decided to enter into partnership talks with multinationals — Dnata, Emirates Leisure, and SEGAP — with the aim of cooperating for the provision of quality services which are up to international standards. Dnata is providing the ground handling services and operates the in-house business lounge called Marhaba (at the Terminal),” President Mwinyi said.

Dnata position is hoever being contested by rival firms. In one instance, Mr. Peter Madeleka of the Arusha-based Stalwart Law Chambers, who is the legal representative of Transworld Aviation in the arbitration case in Paris, said he will fly to the French capital in the next couple of days to make a follow up of the matter.

Madeleka is also the firm’s director for legal affairs and investment.

“We were already there for about seven years before the terminal came to existence and our contract does not state and restrict us to only work on other terminals,” said Mr Mohamed Majid, the general manager of Transworld Aviation.

A directive that gave Dnata exclusive access to the contested terminal which was built at a cost of $120 million was issued by the Zanzibar Airports Authority (ZAA) last September.

Related Topics:Featured President Hussein Mwiny Zanzibar

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Moroccan annual inflation rises to 0.8% in November

Published

2 days ago

December 21, 2024

Ifeoluwa Dada

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

VenturesNow

Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

Published

3 days ago

December 20, 2024

Ifeoluwa Dada

According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”