Category: Markets
Ethiopia: Energy and infrastructure challenges:Tangible solutions
Contributing to improving Ethiopia’s energy infrastructure; German corporate collaborates with smaller company to implement a viable solution in Africa; creating jobs, providing training and developing local value chains In April 2019 Siemens (Siemens.com) signed a Memorandum of Understanding (MoU) with the Investment Commission of Ethiopia, to address the country’s energy and infrastructure sector challenges, to…
KENYA: U.S. Blacklists Former Kenyan Attorney General Over Corruption Allegations
WASHINGTON — The United States on Monday imposed sanctions on Kenya’s former attorney general, Amos Sitswila Wako, accusing him of involvement in “significant” corruption, according to a statement from U.S. Secretary of State Mike Pompeo. Wako, who was attorney general during Kenya’s rocky transition from one-party rule to democracy, is barred from entering the United…
Somalia: Telecom Sector sustained despite tremendous difficulties
Mogadishu (HAN) November 19, 2019. Regional Security and Stability NEWS. Somalia’s telecom market has been sustained despite tremendous difficulties, reports Research & Markets. The country’s economy has made it difficult to sustain investment in infrastructure, and the Al Shabaab Islamic militant group has on occasion forced the closure of internet services in many areas of…
Kenya offers citizenship in investor push
Kenya is mulling giving citizenship to wealthy investors in a new push to enhance direct foreign investment (FDI) flows, the country’s investment promotion agency said on Wednesday. High net worth investors, whose enterprises are appraised to have high impact on new jobs and exports earnings, will be allowed to automatically apply for citizenship, under the…
Gas pipeline to be constructed between Ethiopia and Djibouti
Djibouti’s Energy Ministry last week signed a deal with Ethiopia for the construction of a 767km gas pipeline between Ethiopia’s eastern Ogadem Basin and an export terminal on the Red Sea. According to Djibouti’s Energy Minister, Yonis Ali Guedi: “It is the most expensive project ever built in the Horn of Africa region.” The total cost for the…
Somalia: Ready for an oil boom?
Nairobi — Last week, amid protests, the Somali government convened a public meeting at Claridge’s hotel in London to begin the long process of opening up southern parts of the nation for offshore oil drilling with support from Spectrum Geo, a Norwegian seismic data processing company. Opposition parties and members of the Upper House say although…
Ethiopia: ECX volume goes down while value goes up
Commodity trading for forex now showing empirical effect The trading performance of the Ethiopian Commodity Exchange (ECX) improved over the first six months of the fiscal year even though the volume of traded goods was below expectations. Their report, which covered the first six months of the fiscal year starting from July 8, 2017, showed…
Kenya lifts China fish ban to boost supply
Kenya has lifted a ban on fish imports following a biting shortage after President Uhuru Kenyatta’s directive against Chinese catch that had flooded the market. The ban was lifted in January, barely three months after the restrictions took effect in November. Mr Kenyatta, in ordering the ban, had said it was inappropriate to bring in…
Sudan produces $4.1 billion of gold in 2018
February 16, 2019 (KHARTOUM) – Sudan’s Ministry of Minerals on Saturday said gold production has reached 93 tons (equivalent to $4 billion) in 2018. The director of the Geological Research Corporation (GRC) Mohamed Abu Fatima said the Ministry of Minerals is facing a challenge of introducing means and policies to control gold exports fully in…
UGANDA TO RAISE FUNDS BY BONDS THROUGH MOBILE PHONES
Ugandans can now purchase government securities through a mobile money platform. This was approved during a cabinet meeting on Monday. The rationale is to reduce over-dependence on commercial banks and institutional investors for funding. The government believes that this would increase savings and investment which would, in turn, increase economic growth. Government security is a bond…
