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30-10-2014 23:52:00 | by: Administrator | hits: 4507242 | Tags:

Rwanda and India Exim Bank ink $81 million deal to fund TVET
25-05-2017 | 16:33:44
The government of Rwanda and India Export Import Bank have signed a financing agreement worth $ 81 Million to support the establishment of integrated Technical Vocational Educational and Training (TVET) system.
Uganda and Tanzania sign oil pipeline agreement
25-05-2017 | 13:45:28
President Museveni and President Magufuli have signed the East African Crude Oil Pipe Line Agreement(EACOP) as an expression of intent to go ahead with the construction of the1400km oil pipe line from Hoima to Tanga port.
[Column] Flora Mutahi: How impactful is our ‘inclusivity’?
24-05-2017 | 15:18:35
Presently, there are 145,000 millionaires in the continent with a combined wealth of $800 billion.according to the Africa Wealth Report which also states that there will be 36% more millionaires by the year 2020.
World Bank Group supports public private dialogue to spur economic recovery in Somalia
24-05-2017 | 13:05:18
The Somali government and high level business actors have endorsed a Public-Private Cooperation Agreement to Accelerate Somalia’s Economic Recovery.
New phase for Hub and Spokes trade initiative which aids Africa
24-05-2017 | 08:07:15
An innovative trade initiative which is expanding opportunities for business, employment and prosperity in African, Caribbean and Pacific countries will be extended to February 2019.
Commonwealth African countries to discuss priorities for reviving world trade
22-05-2017 | 11:24:41
Amid an unprecedented global trade slowdown, African policy-makers, negotiators and trade analysts will meet on 25-26 May 2017 in Mauritius to discuss priorities for reviving world trade and strengthening their trading capacity.
Swaziland and FAO sign $19 million five year country programming framework
22-05-2017 | 10:24:00
Food and Agriculture Organization of the United Nations (FAO) and the Kingdom of Swaziland have signed a five-year $19 million Country Programming Framework (CPF).
Afreximbank's financing to Nigeria tops $35 billion
19-05-2017 | 16:53:40
The African Export-Import Bank (Afreximbank) has disbursed more than $35 billion in trade and project financing to Nigerian public and private entities since its inception to support the country's economic and trade growth, Bank President Dr. Benedict Oramah has said.
[Nigeria] Lagos state government partners with MainOne on free WiFi project
15-05-2017 | 13:54:56
The Lagos State Government has launched a free public Wi-Fi project at parks and gardens in Lagos in partnership with MainOne.
Niger and the ECA in partnership to promote the use of ICTs in West Africa
15-05-2017 | 10:07:53
The Economic Commission for Africa’s Sub-Regional Office for West Africa and the National Assembly of Niger have established a partnership framework to organize a Forum on Information and Communication Technologies (ICTs) in the Economic Community of West African States (ECOWAS) region.
International Finance Corporation invests in Africa local currency bond fund to support capital markets
12-05-2017 | 11:32:00
IFC, a member of the World Bank Group, has announced that it is investing $20 million in debt in the African Local Currency Bond Fund (ALCB Fund Ltd.) to help develop local currency capital markets in Africa.
[Column] Bob Koigi: Pause and reflect on role of inputs in breaking hunger cycle
12-05-2017 | 08:48:46
On average Kenya imported around 500,000 metric tons of fertilizer each year to sate growing demand by farmers both large and small scale, emerging as the second largest fertilizer market in Africa after South Africa in overall tonnage.
ATI supported $4 billion worth of trade and investments in 2016 with call for increased participation
12-05-2017 | 08:10:54
The African Trade Insurance Agency (ATI) held its 17th Annual General Meeting with sustained commodity price decline and current geopolitical uncertainties taking centre stage.
Kenya seeks trade pact with UK post brexit
11-05-2017 | 16:57:43
Kenya’s President Uhuru Kenyatta has met Prime Minister Theresa May and sought a pact to guarantee Kenyan exports accessed the UK market on a duty-free quota-free basis after the country exits from the European Union.
African Development Bank approves $226.5m loan to boost economic governance and competitiveness in Namibia
11-05-2017 | 10:04:00
The Board of Directors of the African Development Bank has approved a loan of US$ 226.5 million (ZAR 3 billion) to finance the Namibia Economic Governance and Competitiveness Support Program.
Governments and investors meet to discuss Africa FDI flows in the wake of global economic uncertainty
10-05-2017 | 16:30:35
At a Roundtable event in Nairobi, Ministers from across Africa sat together with investors and the private sector to determine how best to tackle the investment and credit risk hurdles in order to make African risks bankable.
Sierra Leone bets on newly constructed Murray Town Jetty to tackle maritime threats
10-05-2017 | 16:10:46
Sierra Leone has officially unveiled a new purpose- built Murray Town Jetty which it is counting on to tackle the maritime industry’s greatest threats including unregulated fishing and smuggling.
[South Africa] Johannesburg Chamber of Commerce and Industry signs export, import and investment MOU with China Trade Council
09-05-2017 | 16:28:00
The Johannesburg Chamber of Commerce and Industry and the China Council for the Promotion of International Trade have signed a Memorandum of Understanding (MoU) to enhance liaison and cooperation in the fields of export, import, investment, business information
Egyptian President Al-Sisi allocates EGP100m to Labour Emergency Fund
08-05-2017 | 11:42:49
President Abdel-Fattah Al-Sisi announced Sunday that the government will allocate EGP 100m from the Tahya Misr Fund to the Labour Emergency Fund to support factories, projects, and workers, on the occasion of Labour Day.
World Bank resumes budget support to Malawi
05-05-2017 | 12:47:00
The World Bank Board of Executive Directors has approved an $80 million credit to the Malawi Government for general budget support. This is the first budget support financing approved by the World Bank for Malawi in four years.
Partnership between SAP SE and German Government Boosts Digital Skills Development in Developing Countries
04-05-2017 | 11:14:28
By the end of 2016 SAP SE and Germany's Federal Ministry for Economic Cooperation and Development (BMZ) signed a historic agreement to strengthen tech entrepreneurship in developing countries under the BMZ's Make-IT initiative.
South Africa ranked among top countries for foreign direct investment in Africa
04-05-2017 | 10:00:00
South Africa has made a comeback in the 2017 A.T. Kearney Foreign Direct Investment (FDI) Confidence Index, and has been ranked as the fourth most attractive investment destination in Africa according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.
Kenyan President gives vote of confidence for the Huduma Card in driving financial inclusion
03-05-2017 | 10:56:54
The Kenyan Government has provided a vote of confidence in the implementation of the Huduma Card in the country, and its role in driving financial inclusion.
Philips Partners with Kenyan Government and the UN to Advance the African Healthcare Agenda
02-05-2017 | 10:26:00
Royal Philips today announced its full support for a new Government of Kenya and United Nations (UN) initiative aimed at strengthening primary and community healthcare in Africa.
EAC partner states undertaking reforms in implementing the Common Market Protocol, Scorecard
27-04-2017 | 11:08:49
The East African Community Partner States have undertaken a number of reforms over the past four years to facilitate implementation of the EAC Common Market Protocol, this is according to the East African Common Market Scorecard.
South African Competition Commission in a precedent setting excessive pricing case
25-04-2017 | 08:33:45
The South African Competition Commission has referred a supplier of the main ingredient in bricks used in the construction of affordable housing to the Competition Tribunal for charging excessive prices.
[Nigeria] Zaria College of Aviation to procure 20 aircraft from Government
25-04-2017 | 08:24:00
The federal government is to buy 20 aircraft to equip Nigeria College of Aviation Technology (NCAT) Zaria and make it a centre of excellence.
More than two million Liberians register to vote in October elections, almost half women
17-04-2017 | 10:51:00
Approximately 2.1 million Liberians have registered to vote in the upcoming October 2017 presidential and legislative elections, according to provisional results.
Kenyan-born Lucy Gichuhi claims Australian senate seat
14-04-2017 | 11:06:02
Family First will regain its Senate seat after Kenyan-born Lucy Gichuhi won a special count of the South Australian ballot papers.
[Nigeria] President Buhari appoints 24 new heads of government agencies
14-04-2017 | 10:40:07
President Muhammadu Buhari yesterday appointed 24 persons to head federal government agencies. A statement announcing the appointments which are to take immediate effect was signed by the Director of Press in the Office of the Secretary to the Government of the Federation (OSGF), Bolaji Adebiyi.
[Uganda] Electronic Single Window to cut 30 per cent cost for traders
13-04-2017 | 15:16:33
An additional 16 government agencies involved in clearing international trade documents will be linked to the Uganda Electronic Single Window (ESW) as phase two of the system commences.
Gabon in $150 million project to strengthen statistical system
13-04-2017 | 14:59:26
The World Bank Board of Executive Directors has approved an International Bank for Reconstruction and Development (IBRD) loan of $50 million equivalent to strengthen Gabon’s statistical system.
Nigeria Re-Elected 45th time as Chair, UN Peacekeeping Committee
13-04-2017 | 13:28:00
Nigeria has been re-elected, for the 45th time, to chair the UN Special Committee on Peacekeeping Operations, regarded as UN's most strategic committee, the News Agency of Nigeria reports.
[Zimbabwe] Government and WFP in five year plan to build country’s resilience and end hunger
12-04-2017 | 13:17:00
The World Food Programme (WFP), together with the Government of Zimbabwe, launched a five-year plan today to build resilience, end hunger and boost nutrition in country.
Kenya, Qatar sign pact on tourism cooperation
12-04-2017 | 06:30:00
Kenya and the rich Persian Gulf nation of Qatar have signed agreements of cooperation on tourism, education and culture as part of activities marking the Emir of Qatar’s State Visit to East Africa’s economic powerhouse.
Italian investors to explore investment opportunities in Zambia
10-04-2017 | 14:29:39
Italian Deputy Minister of Foreign Affairs and International Cooperation Mr, Mario Giro with a team of NGOs and Investors are expected in Zambia in September, 2017 to come and explore investment opportunities in the country.
Kenya to merge functions of key financial regulatory bodies
10-04-2017 | 07:56:18
The Kenyan cabinet has approved the draft Financial Services Authority Bill 2016 which will merge the functions of four financial regulatory bodies.
Benin’s economic and financial reform program receives $151 million boost from IMF
10-04-2017 | 07:41:23
The Executive Board of the International Monetary Fund (IMF) has approved a three-year arrangement under the Extended Credit Facility (ECF) for Benin for an amount of $ 151.03 million, or 90 percent of Benin’s quota to support the country’s economic and financial reform program.
80 Moroccan companies break ground in Rwanda at the Africa Business Connect 2017
07-04-2017 | 16:27:01
Over 500 high-level delegates from Morocco and Rwanda gathered in Rwanda for the African Business Connect 2017 which has seen the signing of key agreements including between the National Federation of Electricity and Renewable energy and private developers within the renewable energy sector in Rwanda.
Kenya and Seychelles agree to collaborate on fisheries, aviation and maritime security
07-04-2017 | 16:18:09
Kenya and Seychelles have agreed to collaborate in areas of fisheries, livestock, marine security and aviation among others following Seychelles President Danny Faure visit to Kenya.
[Egypt] Government mulls setting up integrated databases for Egyptian expatriates
07-04-2017 | 16:10:27
Egyptian Minister of Communications and Information Technology Yasser ElKady has held talks with his Immigration and Egyptian Expatriate Affairs counterpart Nabila Makram, on the significance of using and integrating ICTs to serve Egypt's nationals abroad.
Kenya set to establish Nairobi Metropolitan Area Transport Authority to end traffic jam
07-04-2017 | 13:35:00
The Kenyan cabinet has approved the creation of the Nairobi Metropolitan AreaTransport Authority, key to removing the capital’s traffic gridlock and unlocking its vast economic potential.
[Madagascar] Government faces ILO complaint over 43 sacked dockworkers
04-04-2017 | 14:46:50
The Government of Madagascar faces an International Labour Organization (ILO) complaint over its treatment of 43 dockworkers who were sacked for joining a union.
Prompt Payment Report to assist in sector regulation, Kenya Association of Manufacturers says
28-03-2017 | 13:56:16
A report commissioned by the Kenya Association of Manufacturers in partnership with Suppliers Association of Kenya and Retail Trade Association of Kenya, Retrak has been hailed as key in assisting the sector in regulation.
[Ghana] AfDB co-organizes workshop on Actualizing Mini-grid Policy and Advancing Universal Energy Access
28-03-2017 | 09:44:55
The AfDB in partnership with the Government of Ghana through the Ministry of Energy, the Energy Commission and other partners, organized a two-day workshop under the title “Actualizing Mini-grid Policy and Advancing Universal Energy Access in Ghana” on March 23-24, 2017 in Accra.
African tax authorities equipped with tools to deal with transfer pricing issues
23-03-2017 | 11:04:00
The African Minerals Development Centre (AMDC) together with the Minerals and Energy for Development Alliance (MEfDA) and the World Bank, has delivered the first of two regional workshops on transfer pricing in Africa’s mineral sector.
Burundi Joins Afreximbank as participating state
22-03-2017 | 12:25:07
Burundi has acceded to the Agreement for the Establishment of the African Export-Import Bank (Afreximbank), making it a participating state of the continental trade finance bank.
[Kenya] Ban on plastic bags will cut jobs and affect livelihoods, Kenya Association of Manufacturers
21-03-2017 | 06:25:16
Kenya Association of Manufacturers (KAM) has stated that local manufacturers were not consulted on the impending ban of plastic bags following the ban to use, manufacture and import all plastic bags.
Afreximbank and TDB close $500 million syndicated loan facility for Kenya
21-03-2017 | 06:16:42
The Trade Development Bank (TDB), formerly known as PTA Bank, and the African Export-Import Bank (Afreximbank) have closed a $500 million dual-tranche syndicated loan facility for the Government of Kenya which acted through the country’s National Treasury.
World Bank Group announces record $57 Billion for Sub Saharan Africa
20-03-2017 | 13:01:23
Following a meeting with G20 finance ministers and central bank governors, World Bank Group President Jim Yong Kim today announced a record $57 billion in financing for Sub-Saharan African countries over the next three fiscal years.
Nigerian Government commends Dangote Cement self-sufficiency feat
20-03-2017 | 10:00:00
The Federal Government has officially confirmed that Nigeria has attained self-sufficiency in the production of cement and is now an exporter of the commodity, ascribing the feat to Dangote Cement which spearheaded the backward integration policy introduced by the government.
Government reviving Kenya National Shipping Line to tap $3 billion potential
15-03-2017 | 15:02:00
The Government has announced plans to revive the Kenya National Shipping Line that has the potential to contribute $3 billion into the country’s economy annually.
Africa Progress Panel Report on Electrifying calls on governments to bridge continent’s energy deficit
14-03-2017 | 06:47:00
Former UN Secretary-General, Kofi Annan, and the President of the African Development Bank, Akinwumi Adesina, have called on African Governments and their partners to do everything possible to close the continent’s huge energy gap.
[Rwanda] Peat power project to reach three quarters of population with no electricity
13-03-2017 | 16:13:29
A $350 million deal to finance an 80 megawatt (MW) peat to power project in Rwanda, which will improve access to electricity for the three quarters of the country's population that is currently off the grid, has reached financial close.
Algeria signs $43 million deal with European Union to develop renewable energy and modernize public finance
13-03-2017 | 16:02:10
At the high level EU-Algeria Association Council taking place in Brussels, the EU and Algeria signed a €40 million package to support Algeria diversify its economy and improve business climate through measures ranging from the development of renewable energy to modernisation of public finances.
[Nigeria] Dangote Salt, NAFDAC collaborate to sanitize food market
13-03-2017 | 13:02:00
The management of Dangote Salt and the National Agency for Food and Drugs Administration and Control (NAFDAC) () have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders.
[Column] Ehiedu Iweriebor: Liberated Africa: Pathways to self transformational development
13-03-2017 | 12:49:00
In the period since independence in the 1950s, Africa has undergone profound social, cultural, economic and political changes. Some inherited and historically rootless colonialist political and social systems have collapsed, been transcended and reconstituted.
South African government prioritizes creation of vibrant export culture to increase capability and capacity
09-03-2017 | 12:16:00
The Department of Trade and Industry in partnership with Tshwane Economic Development Agency (TEDA) hosted the Exporter Development Training in Pretoria. The purpose of the training was to prepare small medium enterprises (SMEs) for the successful expansion of their businesses into international markets.
Nigeria economic growth at lowest level in fifteen years on oil pipelines vandalism
08-03-2017 | 14:36:00
The National Bureau of Statistics (NBS) stated that Nigeria's real GDP growth contracted to -1.30% (year-on-year) in the fourth quarter of 2016.
New entrepreneurship curriculum to help Nigeria industrialize
08-03-2017 | 14:30:00
A new United Nations Industrial Development Organization (UNIDO) project will develop an entrepreneurship curriculum for senior secondary schools in Nigeria.
Sub Saharan Africa lags in policy changes, affecting private sector growth, Economic Freedom Index
08-03-2017 | 11:53:00
Heritage Foundation released its 2017 Economic Freedom report in February revealing that Sub-Saharan African (SSA) countries are distributed primarily within the lower ranks of economic freedom.
Tunisia set to join COMESA in October
08-03-2017 | 05:51:00
Tunisia is preparing to sign the COMESA Treaty during the next COMESA Summit in October 2017. The signature will herald the admission of Tunisia to the regional economic community as its 20th member State.
Exim Bank grants Cameroon $93.50 million for construction of transmission lines
06-03-2017 | 10:27:08
Export – Import Bank of India has committed $93.50 million to the government of Cameroon for construction of the 225 kV Nkongsamba - Bafoussam and Yaounde – Abong Mbang Transmission Line.
[Kenya] President signs into law Anti Money Laundering bill
06-03-2017 | 07:25:24
President Uhuru Kenyatta has signed amendments to the Proceeds of Crime and Anti-Money Laundering (Amendment) Bill 2017, a tough legislation aimed at combating economic crimes, into law.
Research advocates for new approach to youth employment training strategies in Africa
03-03-2017 | 16:10:07
Innovative research released by The MasterCard Foundation is making the case for a new approach to youth employment training strategies in Africa. Invisible Lives: Understanding Youth Livelihoods in Ghana and Uganda sheds light on the working lives of African youth.
Zambia calls for increased international cooperation to achieve sustainable transportation
03-03-2017 | 16:01:20
Zambia has called for increased international cooperation to achieve sustainable transportation at national and regional level.
Zimbabwe state enterprise reforms programme receives $4 million boost from Africa Development Bank
03-03-2017 | 15:50:00
Africa Development Bank Group Director General (DG), Southern Africa Regional Development and Business Delivery Office, Tonia Kandiero, and Zimbabwe’s Finance and Economic Development Minister, P.A. Chinamasa, signed a grant agreement on the Institutional support for State enterprise reform and delivery project (ISERDP) for a total amount of $4 million
Improving conditions for people and businesses in Africa cities key to growth, study
03-03-2017 | 13:56:00
Africa’s cities are growing in population – adding the size of another Nigeria to cities by 2025 – so have a critical role to play in their countries’ economic growth, says a new World Bank report.
[Column] Ehiedu Iweriebor: Africa challenges to Africa development
03-03-2017 | 11:22:19
The parlous story of African economic and social development since independence best expressed in the failure to achieve the autonomous capacity for self-actuated development and in particular to create conditions of national and continental modern mass production and prosperity is well known and need not be repeated.
South Africa set to launch one stop shop to address regulatory inefficiencies
02-03-2017 | 16:30:16
South Africa has announced it is set to launch the Invest South Africa One Stop Shop to provide strategic guidance, reduce regulatory inefficiencies, and reduce red tape for all investors looking to invest in South Africa.
[Rwanda] Economy to remain buoyant in 2017, Central Bank
02-03-2017 | 09:09:53
Rwanda’s economy is expected to remain stable and resilient in 2017 despite the downside risks registered in 2016.
[Kenya] Drought pushes inflation to highest levels since 2016
01-03-2017 | 06:48:00
February has seen Kenya’s inflation climb to its highest since 2016 as the effects of the ongoing drought continues to pile pressure on the cost of food according to recently released data from the Kenya Bureau of Standards.
Standard and Poor’s maintains Zambia’s ‘B/B’ Ratings, negative outlook
28-02-2017 | 15:29:00
Rating agency Standard and Poor’s says the Zambian government’s financing position remains very tight, with access to external debt markets and available domestic capacity both limited.
Uganda taxman rolls out trade facilitation programmes to ease cost of doing business
28-02-2017 | 08:13:10
The Uganda Revenue Authority (URA) has launched three customs trade facilitation programmes that will improve the ease of doing business in Uganda and the East African Community, and also promote trade and investment.
[Ghana] Securities and Exchange Commission tightens industry regulations
24-02-2017 | 13:30:00
The Securities and Exchange Commission (SEC) is in the process of unveiling higher standards for the securities industry in keeping up with the latest international development and to ensure the growth of the sector.
Common Market for Eastern and Southern Africa pushes for alternative dispute resolution to safeguard integration
24-02-2017 | 06:45:00
The Common Market for Eastern and Southern Africa (Comesa) is working towards improving investment opportunities in the region by offering better protection to the business community against any violations relating to the regional integration agenda.
Cameroon targets 1,615 kilometers of new roads by year end
23-02-2017 | 15:28:07
In the financial year 2017-2018, the Cameroon government has pledged to surface a total of 1,615 km of new roads, the Minister of Public Works, Emmanuel Nganou Djoumessi, announced.
[Column] Ndiritu Muriithi: Is Kenya’s informal sector getting sophisticated?
21-02-2017 | 10:31:00
A surprisingly large number of small businesses in Kenya are in the manufacturing industry. Out of the 700,000 micro enterprises captured in the Medium, Small and Medium Enterprises Report 2016 published by the Kenya National Bureau of Statistics, 175,000 or 12 per cent are in manufacturing.
[South Africa] National Empowerment Fund to be incorporated into Industrial Development Corporation to guarantee funding for black entrepreneurs
15-02-2017 | 13:21:11
In a landmark breakthrough for South Africa’s quest for inclusive growth and radical economic transformation, the Ministers of Trade and Industry and of Economic Development announced in Cape Town that the National Empowerment Fund (NEF) will become a wholly-owned subsidiary of the Industrial Development Corporation (IDC) in order to meet the considerable demand for funding by black entrepreneurs.
Kenya floats 12 year bond to fund infrastructure
10-02-2017 | 06:27:15
Kenya has floated treasury bond worth $288 million to fund infrastructure projects coming two weeks after it cancelled a similar bid, Central Bank has said.
Kenya Revenue Authority set for system upgrade to curb tax evasion
09-02-2017 | 15:44:17
Kenya’s taxman the Kenya Revenue Authority is replacing the tax collecting platform Simba System and replacing it with a modern integrated customs management system as it cracks the whip on tax evasion.
Ethiopia set to receive $250 million loan from China after parliamentary approval
08-02-2017 | 16:22:00
Ethiopia's parliament has approved a $250 million loan agreement made with China's Export-Import (Exim) Bank to finance major infrastructure construction in the country.
[Kenya] IFC and Capital Markets Authority train company directors on corporate governance
07-02-2017 | 12:20:00
IFC, a member of the World Bank Group, and Kenya’s Capital Markets Authority have announced a training program to familiarize directors and issuers with the Code of Corporate Governance Practices for Issuers of Securities to the Public.
World Bank and government of South Sudan launch first public private partnership initiative in the country
06-02-2017 | 15:12:00
The World Bank Group and the Government of Sudan have launched Sudan’s first Public-Private Partnership (PPP) initiative. Through a grant from the Public-Private Infrastructure Advisory Facility (PPIAF), the PPP Support Program aims to strengthen the policy and regulatory environment for PPPs in Sudan.
[Uganda] Private sector gets government- backed fund to grow their businesses
06-02-2017 | 08:30:00
The Ugandan private sector now has a chance to access over $20 million Skills Development Fund to grow their businesses.
Britam Asset Managers project Kenya’s economy to grow at 5.6 percent
03-02-2017 | 15:45:00
Kenya’s economy is expected to grow between 5 and 5.6 percent in 2017, supported by increased government spending and resilient performance in transport, trade and tourism.