Category: Markets
Kenya to Remain with AU Mission in Somalia Amid Tensions
NAIROBI – Kenya’s president has said his forces will remain part of the African Union Mission in Somalia and leave the country when it’s secure and stable. The president’s statement came at a time Kenya’s forces are facing hostility in parts of Somalia for their support of the Jubaland administration, which the Somali government has…
Tigray New Highway Connecting Tadjourah Port of Djibouti
Djibouti (HAN) November 14, 2019. Regional Infrastructure and Financial Investments in the Horn of Africa. Opinion By. TO. The Tadjourah-Balho-Mekele road, a new highway connecting the new Tadjourah port of Djibouti to the small town of Balho in Tigray, Ethiopia was inaugurated very quietly without too much funfair on Wednesday, November 6, 2019. The 120 km long…
Kenya woos oil importers in bid to reclaim business lost to Tanzania
Kenya hopes to regain its petroleum export market after cutting pipeline tariffs by 50 per cent, a development that sets up stiff competition with Tanzania. Nairobi, which had lost about 30 per cent of its petroleum export market to Dar es Salaam, is also stepping up its crackdown on fuel adulteration and smuggling, a growing…
German investors losing interest in East Africa
The confidence of German companies in East Africa has shrunk significantly, a development that could have a negative impact on foreign direct investments. A survey by the Delegation of German Industry and Commerce for Eastern Africa shows the business expectations of German companies over the next 12 months has declined, with Tanzania having the lowest…
Ethiopia: Govt Marks First Sunflower Import in Bid to Diversify Oil Market
By Elias Tegegne Three million litres of sunflower oil will be imported The sunflower oil was chosen to diversify the supply of cooking oil in the market by the government following controversies involving palm oil’s harmful effect on the health of individuals, according to Dejenu T. Mariam, deputy manager of the sales division of the…
Kenya’s Sidian Bank receives $20m loan from Dutch lender
Kenyan lender Sidian Bank has received a $20 million loan to support its growth strategy as it seeks to break into tier 2 status by 2022. The 5-year loan secured from the Dutch Entrepreneurial Development Bank (FMO) is intended to support the bank’s growth plans that includes increasing lending to SME clients and private-owned business…
Kenyan police arrest two Ugandans with fake US currency
Police in Kenya’s coastal county Mombasa are holding two Ugandans who were nabbed with fake US currency. Tindeyebwa Godfrey and Tayebwa Evans were arrested with $94,100 (Ksh9.41 million) in fake currency. The foreigners were apprehended at Punda Milia Paradise Apartment in Shanzu, Kisauni Sub-County. A Mercedes Benz belonging to the two suspects was also confiscated…
Kenyan university student sues Equity Bank over song
A Kenyan university student has sued Equity Bank for promoting its business using a song he claims he composed. Mr Eric Obiero Nyadida has urged the High Court to prohibit the bank from using the song to advertise its Wings to Fly education sponsorship project for bright but needy children. Mr Obiero was prosecuted at…
Somalia to launch first oil licensing round in December
MOGADISHU (HAN) November 5, 2019. Regional Security and Stability NEWS By Wendell Roelf . Somalia is planning to launch its first ever oil and gas licensing round in December, its oil minister said on Tuesday, as the frontier market looks to attract new investment after decades of civil strife. At least three mortar bombs were…
Kenya is stepping up its citizens’ digital security
A new data protection law in Kenya is setting a high standard for the rest of the continent. As the country looks to engender more safeguards in the collection, handling and sharing of data, Kenya’s president Uhuru Kenyatta has approved legislation which complies with the European Union’s General Data Protection Regulation. The new law outlines restrictions on…
