COMESA has recruited and deployed 14 Trade Information Officers to facilitate cross border trade along the eastern border of the Democratic Republic of Congo.
Incubator for Integration and Development in East Africa launched to support citizens and partners of integration
The Incubator for Integration and Development in East Africa (IIDEA) developed as a joint initiative between the EAC Secretariat, Regional Dialogue Committee (RDC), and GIZ has been launched.
The African Development Bank has approved a $1million African Private Sector Assistance Fund (FAPA) grant to the Government of Mozambique to finance the Nacala Corridor Business Linkages Technical Assistance Project.
Djibouti has unveiled the Doraleh Multipurpose Port (DMP), the country’s latest mega project.
African Property Group is launching eight new websites in emerging African nations that will allow the populations to search for properties, using their computers or mobile phones.
The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa.
Bolloré Logistics Nigeria has been handling a warehouse management contract to run Unilever Nigeria Plc.’s 16,290 sqm warehouse since September 2016.
The World Bank has launched collateral registry in Sierra Leone, an innovative financial tool that will allow smaller businesses to use movable assets like machinery to access loans, helping them grow.
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.
Civil Aviation technical experts from the COMESA region have agreed on the implementation of the regional Seamless Upper Airspace project.
[Nigeria] MainOne launches plan to become largest internet hub in West Africa with Open-Connect Service
Following the partnership of MainOne’s Data Center company with the Nigerian Internet Exchange to improve national transit traffic in Nigeria, the company has announced a new interconnect service for carriers.
GE in $575 million agreement with Ministry of Transportation and Egyptian National Railways to transform rail infrastructure
General Electric has announced that it has signed a deal worth $575 million meant to transform Egyptian rail transport.
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.
[South Africa] DBSA secures $200m loan from Standard Chartered for key infrastructure projects in Africa
Standard Chartered Bank has signed a $200 million term loan to the Development Bank of Southern Africa, DBSA.
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.
IFC, a member of the World Bank Group, today announced an investment of $4.5 million in the Medical Credit Fund, part of the PharmAccess Group, to increase access to quality healthcare in Africa.
ECOWAS Member States to agree on regional investment climate scorecard to unlock investment in West Africa
The Economic Community of West African States (ECOWAS) and the World Bank Group will co-host the ECOWAS Investment Climate Scorecard Roundtable in Lagos, Nigeria.
Ethiopia and the world's newest nation South Sudan are to develop joint infrastructure development projects that would help create regional economic interconnection.
[Nigeria] 371, 000 Internally Displaced Persons to benefit from Dangote Foundation’s donation in Borno
Africa’s foremost businessman, Aliko Dangote has donated food items worth more than N200 million to the people of Borno state.
The African Export-Import Bank will explore ways to support the development of the cotton value chain across the West Africa region.
The Department of Trade and Industry (the dti) and the United Nations Development Programme (UNDP) have partnered to implement trade and regional industrialization programmes.
The International Institute of Tropical Agriculture expands research investment with 205.5 hectare research farm in Nigeria
As the International Institute of Tropical Agriculture (IITA) marks its 50th anniversary, the Institute today inaugurated a new research station in Ago-Owu in Osun state, Nigeria.
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.
[Column] Brett Parker: How homegrown innovation is solving many of Africa's most pressing challenges
By now, I am convinced that you have heard of M-Pesa, the popular and often-cited mobile banking system that has become Africa's innovation calling card.
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.
Kenya Association of Manufacturers has launched its Technical and Vocational Education and Training (TVET) programme in Mombasa as part of the organization’s goal to bridge the skills gap in the country.
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.
On Saturday 10th June, the debt review industry will be holding it’s breath to see who the big winners in this year’s Annual Debt Review Awards will be.
Nineteen coastal countries stretching from Senegal to Angola have started working together in a joint effort at fighting crime at sea.
Huawei, a leading global Information and Communications Technology (ICT) solutions provider, announced recently that the railway operational communications network it built for Kenya's Mombasa-Nairobi rail project was put into commercial use.
The World Bank approved has approved $150 million International Development Association credit for Transport Sector Improvement Project (TSIP) in Ghana.
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.
Nigerian National Petroleum Corporation Group Managing Director, Dr. Maikanti Baru, has said that the corporation’s recently re-commissioned Mosimi and Kano depots have impacted positively on highways across the country.
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.
IOX Cable and Alcatel Submarine Networks to build first open cable connecting Mauritius and Rodrigues Island to South Africa and India
IOX Cable Ltd, a Mauritius-based company, and Alcatel Submarine Networks , part of Nokia, have signed a turnkey agreement for the deployment of the IOX Cable System.
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.
[South Africa] Anchor Private Clients picks InvestCloud to offer communication solutions to its customers
InvestCloud Inc., a global FinTech firm, has been appointed by Anchor Private Clients, the private client division of JSE-listed Anchor Group, to provide digital client communication and client reporting solutions.
Kenya has replaced the over a century railway line with a new state of the art standard gauge railway which will ease transport and boost trade across the region.
General Electric healthcare in West Africa and Central Africa has equipped and launched Nigeria’s first breast and gynecology center with state of the art medical machinery, in Lagos.
Public and private sector leaders from across Sierra Leone and beyond met yesterday in Freetown to discuss ideas, initiatives and partnerships that can spur private investment.
Governments across East Africa are set to change transportation and trade development by investing in the expansion and rehabilitation of existing roads, the creation of new road links between key cities and cross-border connections
West African region, much like their easterly neighbours, is experiencing a surge in port development projects which will greatly expand, modernise and link shipping infrastructure across the region over the course of the next five years.
The World Bank has approved an $81 million International Development Association (IDA)* credit to support Rwanda’s transport sector.
The AfDB alone has recently unveiled a $12 billion electrification investment plan, in support of its ‘New Deal on Energy for Africa’ which envisages universal access to electricity for the whole continent by 2025.
Djibouti has unveiled a 690 hectare Doraleh Multipurpose Port, the country’s largest mega project. The new port infrastructure is equipped with ultra-modern facilities that can accommodate 100,000 DWT vessels.
International Finance Corporation has collaborated with the Senegalese Institute of Administrators (ISA), to host the Administrator’s Forum, with a focus on the sustainability of family-owned businesses.
Senegal is counting on a new Dkar Bus Rapid Transit pilot project to reduce by half the average rush hour in-vehicle travel time by public transport.
Africa Logistics Properties (ALP) has begun construction of Kenya's first modern grade-A logistics and distribution warehousing complex at Tatu Industrial Park.
Trade efficiency systems in Zanzibar are expected to become efficient with the launch of an NTB monitoring and electronic certificate of origin systems by the Zanzibar National Chamber of Commerce Industry and Agriculture (ZNCCIA).
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.
Hughes Network Systems, LLCthe global leader in broadband satellite solutions and services has announced that its JUPITER System has been selected to bring high-performance connectivity throughout the Sub-Saharan Africa.
The Mobilitas-AGS group’s new multimodal logistics platform in Gauteng province, South Africa has officially been delivered.
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.
The African Development Bank (AfDB) has provided a roadmap to the growth of agriculture in African countries with a plan to inject nearly US $2.4 billion every year for 10 years to build roads, irrigation infrastructure and storage facilities within Africa to attract high-value investors.
Vodacom, in partnership with Huawei, have successfully completed the launch of Africa’s first live NarrowBand IoT (NB-IoT) site which is fully compliant with the standardised 3rd Generation Partnership Project(3GPP) NB-IoT specifications.
International Finance Corporation, a member of the World Bank Group, Google Inc., Convergence Partners, and Mitsui & Co. have agreed to invest up to $100 million in CSquared, a partnership focused on deploying wholesale, carrier-neutral, open-access fiber optic networks across Sub-Saharan Africa.
[Ghana] GE and Ministry of Health in partnership to give Greater Accra Ridge Regional Hospital facelift
GE, the world’s Digital Industrial Company has partnered with the Ghana Ministry of Health and Bouygues Batimat International with the support of the US Government to overhaul the Greater Accra Ridge Regional Hospital in the Ridge District of Accra, Ghana.
Islamic body on private sector development and China-Africa Development Fund ink deal to boost infrastructure in Africa
The Islamic Corporation for the Development of the Private Sector, the private sector arm of Islamic Development Bank (IDB) Group and China-Africa Development Fund, CADFund, a Beijing-based private equity firm and subsidiary of the China Development Bank which focuses on Africa have signed a historic agreement.
[South Africa] $2million Vulindlela Heights Industrial Park unveiled as part of government radical economic transformation
Government’s radical economic transformation received a boost with the launch of the Vulindlela Heights Industrial Park in Mthatha, Eastern Cape.
[Nigeria] Infrastructure summit calls for bolder action from private sector to reduce Africa's infrastructure deficit
Africa's premier infrastructure summit has opened in Abuja, Nigeria. Andrew Alli, President and CEO of AFC, said: "In 2014 we held our inaugural African infrastructure summit, bringing together our expertise, knowledge and experience in infrastructure financing.
TerraPay, the world's first mobile payments switch, has received the Frost & Sullivan Visionary Innovation Leadership Award for international remittances in Sub-Saharan Africa.
Global trade enabler DP World has celebrated its 30-year port concession for the management and development of a multipurpose port project at Berbera, Republic of Somaliland which started on 2 March 2017.
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.
A gravel road snaking through an open swath of land outside Ndola in Masaiti has no distinct name, but as one completes its 10-kilometre stretch, one name becomes clear – Dangote.
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.
Africa’s leading freight logistics chain Transnet has been on an expansion binge and is expected to set up shop in eight more African countries including Kenya, Liberia, Ghana, Nigeria, DR Congo, Senegal, Togo and Benin.
[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
The Standards Organisation of Nigeria (SON) on Sunday inaugurated its Seme border office with assurance to intensify efforts at checking influx of substandard products into the country through land borders.
The World Bank's Board of Executive Directors has approved a $ 200 million International Development Association (IDA) credit under the IDA17 Scale-up Facility for Zambia to improve selected rural roads in six of Zambia’s ten provinces. Government will finance the remaining four provinces.
African leaders must build a new more 'human economy' to tackle inequality and poverty, Oxfam has said ahead of the World Economic Forum (WEF) on Africa. The meeting will bring political and business leaders together from across the continent to discuss how to achieve inclusive growth.
Sappi Southern Africa, a subsidiary of Sappi Limited, the world’s largest manufacturer of dissolving wood pulp (DWP), has selected Kuehne + Nagel as its preferred partner for seafreight order management.
According to EY’s latest Africa Attractiveness report, heightened geopolitical uncertainty and “multispeed” growth across Africa present a mixed FDI picture for the continent.
The African Export-Import Bank (Afreximbank) has granted a $300-million financing facility to the National Bank of Egypt (NBE) to support Egypt’s industrialisation efforts.
Artisan Training Institute (ATI), a leading technical skills training organization and the MasterCard Foundation have partnered to launch a program that will bolster the capacity of Training, Vocational, and Educational Training institutions (TVETs) to provide quality education to young people in South Africa’s artisanal and skilled trades sectors.
Bolloré Transport & Logistics Ivory Coast has launched public water transport vehicles in the Ebrié Lagoon. Six water buses, which will be operated by Société de Transport Lagunaire (STL)
Construction of new and modern cross border market facilities worth $2.2 million has commenced in Rusizi at the border of Rwanda and Democratic Republic of Congo (DRC), following the ground breaking ceremony. Hon. Francois Kanimba, the Minister for Trade, Industry and East African Affairs (MINEACOM) presided over the event.
In support of Rwanda’s Sustainable Development Goals, the Mastercard Center for Inclusive Growth has confirmed its commitment to a grant of up to $1 million over three years to support the growth of small business owners in Rwanda.
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.
To better serve the growing power and grid reliability needs in Africa, GE’s Distributed Power announced that it has recently signed an agreement with Clarke Energy to serve as GE’s distributor of Jenbacher gas engines for six additional countries in Africa, including Cote d’Ivoire, Democratic Republic of Congo, Ghana, Kenya, Morocco and Rwanda
American President Lines, APL, a US international shipping company has stated that it is resuming operations at the coastal port of Sudan after a 20 years’ hiatus.
[Angola] AfDB country support strategy focuses on Agricultural Transformation, Infrastructure Development in the next five years
The Board of Directors of the African Development Bank Group (AfDB) has approved the Bank’s Angola Country Strategy Paper (CSP) to guide its interventions in the country in the next five years, focusing on Inclusive growth through agricultural transformation and supporting sustainable infrastructure development.
Given the long history of drought in this continent, I believe that it is time we stop viewing it as an exogenous shock and more as a structural problem that we can address with our own abundant resources.
In order to increase the operational capacity of Abidjan’s container terminal, four new gantry cranes (RTG) were put into service. These new modern equipment will help improve the port of Abidjan development.
Nigeria based logistics and distribution firm Courier Plus has opened a Nairobi branch as it mulls expanding to other countries in the region to sate the growing demand for logistical services.
TradeMark East Africa has proposed the need to adapt its engagement in Burundi by investing in projects that strengthen new export potential value chains, enhance cross border trade and increase the country’s participation in the regional market.
MTN and Huawei have partnered to bring the first LTE Licensed Assisted Access (LAA) network in Africa. LTE LAA is an evolution of the LTE-Unlicensed mobile technology, which enables LTE to utilise unlicensed spectrum to significantly enhance network capacity.
Angola Cables completes system connecting Africa and the Americas to create new route for Internet traffic
Taking a step closer to completing a valuable new route for the global telecommunications sector, Angola Cables today announced the completion of the marine survey for the South Atlantic Cable System (SACS), as well as the start of cable loading on the Angolan side of SACS.
The African Development Bank Group (AfDB) Director-General for the West African Region, Janvier Litse visited the Republic of Benin from 10 to 12 April 2017 as part of a dialogue mission with the country's authorities.
AfDB provides $10.61m supplementary loan to rehabilitate and expand electricity distribution networks in Juba, South Sudan
The Board of Directors of the African Development Bank Group (AfDB) approved an African Development Fund (ADF) supplementary loan of US $14.57 million to rehabilitate and expand the distribution networks in Juba, South Sudan.
Africa has a bright future ahead of it. Productivity and growth will improve as African economies continue to place more emphasis on services and manufacturing, pursue commodity production, and achieve quick gains in agriculture and light industry.
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.
Ethiopia, China and the United Nations Industrial Development Organization (UNIDO) have agreed to strengthen collaboration on investment promotion, industrial parks development – including the Adam Industrial Park – and the upgrade of technical and vocational education and training.
Despite being the fastest growing sub-region of the continent with an economic growth rate of 6.7 per cent, second in the world to East Asia, East Africa is lagging behind in terms of its structural transformation.
Notwithstanding the negative growth recorded in 2016, the real estate sector is expected to grow at an average rate of 5.39 per cent between 2017-2020.
Two weeks to the opening of the Abuja airport runway to traffic, the Minister of State, Aviation Sen. Sirika Hadi Sirika, has said the runway is 75 percent completed.