The EveningBrew: A quick summary of business around the continent today

COMPANY NEWS



Eskom South Africa

Interesting times for South Africa public utility company, Eskom: yesterday, it denied claims it had been unfair to some its customers. Today, media reports allege Eskom will publish a ‘sanitised’ power utility report

First Bank Nigeria

Laurels for First Bank Nigeria (FBN): for the sixth time in a row, the bank was announced the most valuable banking brand in Nigeria, by The Banker magazine, of the Financial Times and Brand Finance, London, which conducts the annual award for the Top 500 Banking Brands in the world.

KCB Bank Rwanda

Restructuring- Maurice Toroitich, managing director of KCB Bank, said the bank is carrying out an ‘internal reorganisation’. This could see about 27 staff lose their jobs, according to a report in Rwanda The New Times.

Fidelity and MTN in Ghana

Mobile Banking is about to get easier in Ghana- a Fidelity Bank and MTN partnership promises to make it easier for Ghanaians to access and perform banking operations using their mobile phones.

Orange South Africa

Orange South Africa is certainly sure Africa is rising. The company’s commercial director for Africa, Yannick Decaux, said they were looking for acquisition opportunities in Africa, and talking to everyone.

Ethiopian Airline Trapped Funds

Chief Executive Officer of Ethiopia Airlines, Tewolde Gebremariam, told Reuters that $220 million of the airline’s money is trapped in Nigeria and Egypt.

CHARTS OF THE DAY



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POWER SECTOR INVESTMENTS



Nuclear Energy Proposals for Kenya

Kenya’s nuclear sector has been attracting several investors, China, Russia, South Korea, Slovakia and now France. Michel Sapin, the Economy and Finance minister for France, said his country was ready to support the construction of Kenyan nuclear plants. And the French just might beat the others to it, as they are proposing to offer both technical and financial support to help Kenya actualize its dream of building Africa biggest nuclear plant from 2022.

INSURANCE



Insurance in Kenya

Policyholder Compensation Fund (PCF), the equivalent of Kenya Deposit Insurance Corporation the deposit insurer for commercial banks, has capped the ‘‘amount payable as compensation on any one claim for all classes of insurance shall be capped at Sh250,000 until further notice’’.

PHOTO OF THE DAY

Residents of Ntuzuma collect water from a truck after cuts in water supply were made due to persistent drought conditions, in Durban, South Africa, January 22, 2017. REUTERS/Rogan Ward