• Use of electronic cards to make payments is gaining momentum in the country with data for the 11 months to November 2012 showing a 73.3 per cent increase.

     However, in a reflection of Kenyans aversion to credit, a majority of the deals were through debit cards unlike in other economies where credit cards are the norm. In its latest update, Central Bank says shoppers spent Sh98.25 billion by November paying for goods through Point-of-Sale (POS) machines against Sh56.69 billion spent in 2011. 

  • Jamaica has finally opened up the application process that will eventually lead to the granting of casino licences, but investors first have to prove that they have the capacity to deliver up to 2,000 rooms in an integrated development plan.

    In return, the Jamaican Government offers the promise of "exclusivity" to winning bidders, which is essentially a buffer zone within which no competing casino can be developed.

     

  • ALREADY impacted by a weak domestic economy, financial institutions have been rocked by two debt exchange programmes since the start of the year, but are resolute in finding new income streams to alleviate the fallout from government paper.

    Firms in February agreed to sacrifice billions of dollars in earnings to participate in the National Debt Exchange (NDX), and not long after some were called to write off more revenues in another swap of Government of Jamaica securities for new bonds with lower coupon rates and longer tenures.

  • DESPITE global economic turbulence and the poor performance of many European countries, Namibia’s mining industry experienced recovery in 2012.

    The mining sector contributed 11.5 percent to GDP in 2012, with mineral exports accounting for more than 55 percent of all foreign exchange earnings.

    This was an increase from 8.2 percent of GDP in 2011, making the contribution of mining to GDP in 2012 the highest recorded since 2007.

  • Southern African Development Community (SADC) countries, which fall under the Common Monetary Area (CMA), will this July pilot an integrated payment and settlement system that once adopted will help the regional block lower transaction costs and improve efficiency.

     

  • Allow me to comment on a few issues were raised in Dr. Kisamba Mugrwa’s article entitled ‘Agricultural extension services: Lessons for Uganda’, that appeared in the New Vision’s Harvest Money magazine pull out of Tuesday April 16th 2013 that need further deliberation including whether we really have leant any lessons and to  what extent have we put these lessons to use to benefit our peasant farmers. 

  • The objective of development is to meet the needs and aspirations of the people. Humanity has the capacity and potential to meet these needs in a sustainable manner, without exploiting or deteriorating its natural resources.

     

    We have to meet our needs without compromising the needs of the future generation. This is the basic principle behind sustainable development.

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