Kenya is the latest country to become a member of Africa Finance Corporation (AFC), a leading pan-African multilateral development finance institution and project developer.
Economic Commission for Africa and Africa Development Bank have are furthering discussions on ongoing and new major areas of cooperation between the two institutions.
Kenyan food is set to be safer than ever after the European Union made available state-of-the art equipment that will enable national food control authorities to test the quality and safety of a wide range of food products.
Kenya’s national carrier, Kenya Airways has confirmed it has received the government’s support to the restructuring efforts.
On June 19, 2017, ROSATOM State Atomic Energy Corporation and the Ministry of Science and Technology of Ethiopia signed the Memorandum of Understanding on cooperation in peaceful uses of atomic energy.
Uganda and China have signed a Memorandum of Understanding three proposed investment projects ranging from trade, agriculture and transport.
Intraregional seed trade is set for a boost following the introduction of seed labels and certificates to be utilized by seed companies for large consignment crossing the borders.
The U.S. Chamber of Commerce’s U.S.-Africa Business Center has released its Investor Confidence Indicator for Africa (ICIFA). The tool is created to support business investment and government policy decision making on the continent.
Tunisia receives $500 million credit facility to improve business environment and ease access to finance
The World Bank Board has approved the Business Environment and Entrepreneurship development policy loan to support the Tunisian government's continued efforts to promote stronger and more inclusive growth.
[Column] Bob Koigi: Awakening the giant: How Ethiopia overtook Kenya to become East Africa’s economic power house
Kenya has traditionally held the enviable position of being the East African economic behemoth. But tables have now turned, and in a dramatic way.
Egypt’s parliament has approved on Wednesday the maritime borders deal between Egypt and Saudi Arabia.
President Uhuru Kenyatta has recommended that betting, lotteries and gaming activities should be taxed at the rate of 35 percent.
The Ethiopian Immigration and Nationality Affairs main Department in collaboration with Ethiopian Airlines are set to unveil e visa service for international visitors to Ethiopia.
[Kenya] KAM champions manufacturing agenda for industrial growth and job creation ahead of national elections
As part of its endeavour to grow the economy through industrialization, Kenya Association of Manufacturers is engaging political leaders during the pre-election period with the aim of sharpening the focus on the economic agenda of this country in their political party manifestos.
Gabon President Ali Bongo Ondimba has said that his government has created a network of 20 marine protected areas in Gabon, consisting of nine marine parks and 11 aquatic reserves covering 26% of Gabon's territorial waters.
The Nigerian Content Development and Monitoring Board and Dangote Group, have commenced collaborations towards ensuring maximum utilisation of local capacities in the construction of the company’s 650,000 barrels per day refinery.
Lack of education and mismatched skills remain major obstacles to Africa’s development agenda, African Union
The African Union Commission cautions that the future of Africa’s economic growth and the future of millions of Africans, is in jeopardy, if the underlying issues that hinder development are not adequately addressed.
During the Africa Energy Forum, the U.S. Trade and Development Agency signed a grant aimed at increasing electricity access in Zambia.
The Board of Directors of the African Development Bank Group (AfDB) has approved a €5 million equity participation in Investisseur & Partenaire pour le Développement 2 (IPDEV.2), to support Small Growing Businesses (SGBs) in Sub-Saharan Africa.
President Ali Bongo Ondimba announced on Monday, in a speech delivered at the United Nations headquarters, that his government has created a network of 20 marine protected areas in Gabon.
Afreximbank and Development Bank of Belarus agree on a $150 million facility for Belarus Africa trade
Development Bank of Belarus has signed an agreement to provide a $150 million credit facility to the African Export-Import Bank (Afreximbank) for the financing of the acquisition of goods from Belarus by African entities.
The private sector has presented a report card that gives a thumbs-up to the Kenyan government’s performance in creating the right environment for business.
COMESA and the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) have signed a Memorandum of Understanding to deepen collaboration in combating money laundering and terrorist and proliferation financing.
Reinforcing its commitment to Africa, Oracle has opened a new office in Abuja that will focus exclusively on driving cloud adoption across Nigeria’s Public Sector.
South Africa is fostering closer trade relations with Mozambique to accelerate and strengthen economic and trade relations to boost growth and add value to both countries, Minister of Trade and Industry, Dr Rob Davies said.
With its total trade topping $1 trillion in 2016, Africa is increasingly moving to the centre stage of global trade, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), has said.
The Executive Board of the International Monetary Fund (IMF) has approved a three-year arrangement under the Extended Credit Facility (ECF) for Sierra Leone for $224.2 million in support of the authorities’ economic development efforts.
From the US to Thailand, the Caribbean and Kenya, this past month alone has seen countries across the world hit by devastating encounters with flooding.
The Federal Government on Thursday in Abuja inaugurated an implementation committee to facilitate the establishment of the proposed Information Communication Technology (ICT) University of Nigeria.
In a single round of voting last Friday, the United Nations General Assembly elected Côte d’Ivoire, Equatorial Guinea, Kuwait, Peru and Poland as non-permanent members of the Security Council for the next two years.
Telecel is set to expand its network coverage and launch LTE following a government brokered $200 million finance deal.
For any economy to attract investments, it must be able to earn and maintain investor trust. Local and foreign investors gain confidence to trade in a business environment that guarantees a stable and predictable macroeconomic framework for businesses.
MSC and San Pedro Port have signed a 35-year concession agreement for the expansion of the San Pedro Container Terminal (“TCSP”) in Côte d’Ivoire in the presence of H. E. Mr Amadou Gon Coulibaly, Prime Minister of Côte d’Ivoire.
Internet Society and Commission of the African Union launch Internet Infrastructure Security Guidelines for Africa
The Internet Society and the African Union Commission unveiled a new set of Internet Infrastructure Security Guidelines for Africa during the African Internet Summit, taking place in Nairobi 30 May-2 June.
Most Nigerians observed yesterday that democracy has proved to be the best system of government for the country, despite its challenges.
Switzerland has transferred approximately $4million to Tunisia, in response to a request for mutual legal assistance.
Cooperation among Africa’s development financial institutions (DFIs) is crucial for the achievement of the industrialisation of the continent, the African Export-Import Bank has said.
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.
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.
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.
The Somali government and high level business actors have endorsed a Public-Private Cooperation Agreement to Accelerate Somalia’s Economic Recovery.
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.
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.
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).
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.
The Lagos State Government has launched a free public Wi-Fi project at parks and gardens in Lagos in partnership with MainOne.
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
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.
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
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’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 $226.5m loan to boost economic governance and competitiveness in Namibia
The Board of Directors of the African Development Bank has approved a loan of US$ 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
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 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
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
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.
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
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 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.
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.
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.
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.
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.
The federal government is to buy 20 aircraft to equip Nigeria College of Aviation Technology (NCAT) Zaria and make it a centre of excellence.
Approximately 2.1 million Liberians have registered to vote in the upcoming October 2017 presidential and legislative elections, according to provisional results.
Family First will regain its Senate seat after Kenyan-born Lucy Gichuhi won a special count of the South Australian ballot papers.
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.
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.
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 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.
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 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 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.
The Kenyan cabinet has approved the draft Financial Services Authority Bill 2016 which will merge the functions of four financial regulatory bodies.
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.
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 have agreed to collaborate in areas of fisheries, livestock, marine security and aviation among others following Seychelles President Danny Faure visit to Kenya.
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.
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.
The Government of Madagascar faces an International Labour Organization (ILO) complaint over its treatment of 43 dockworkers who were sacked for joining a union.
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
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.
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 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
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.
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.
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.
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.
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
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.
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
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.
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.
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
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.
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.
A new United Nations Industrial Development Organization (UNIDO) project will develop an entrepreneurship curriculum for senior secondary schools in Nigeria.
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 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.
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.