(Reuters) – Adani Energy Solutions (ADAI.NS), said on Saturday that Kenya’s cancellation of a $736 million transmission line project did not require it to make any regulatory disclosure under Indian stock exchange rules as it was within its ordinary course of business. It said it was responding to a request for clarification from the Bombay Stock...
By Mohamed Mukhtar Ibrahim, former Minister of Petroleum and Minerals in Somalia As Somalia embarks on its journey towards oil and gas production, developing expertise in contract negotiation, resource management, environmental monitoring, and fiscal regulation is crucial to effectively managing and regulating this sector. Between October 2022 and September 2024, companies including Coastline Exploration, Liberty...
By Dr. Hassan A. Hussein Introduction Oil is a basic commodity linked to nearly all human activities, and its price volatility has a significant negative impact on economic growth and money supply. The recent oil price fluctuations due to ongoing wars—Russia-Ukraine, Gaza, Lebanon, as well as Houthi attacks on oil tankers—have led to global economic...
In the late 1970s, after being abandoned by the Soviet Union, the Somali dictator Siyad Barre sought new patrons in the West. Soon American weapons were pouring in and his government was borrowing heavily. Many of those loans were still outstanding in 1991, when Barre’s regime collapsed and the country fell apart. The debt sat...
Chinese investors, who have significantly contributed to Ethiopia’s economy with investments totaling approximately $5 billion across more than 2,000 projects, are increasingly relocating their operations to neighboring countries such as Kenya, Uganda, and Tanzania. This trend is attributed to a multitude of challenges that have arisen in Ethiopia, prompting concerns from both the Chinese Embassy...
ADDIS ABABA (Xinhua) – The Chinese-built Ethiopia-Djibouti railway on Monday began transporting livestock from central Ethiopia to ports in Djibouti, according to the Ethio-Djibouti Standard Gauge Railway Share Company (EDR). Takele Uma, chief executive officer of the EDR, in a statement issued Monday, lauded the move, emphasizing that it will further diversify and maximize the...
NAIROBI, (Xinhua) — Chinese green vehicle technology is boosting the adoption of e-mobility in Africa, experts said Friday. Warren Ondanje, managing director of the Africa E-mobility Alliance, said in Nairobi, the capital of Kenya, that Chinese e-vehicle manufacturers have positioned themselves as key partners for the growing number of e-mobility startups on the continent. “Chinese...
LUSAKA, (Xinhua) — The 11th Common Market for Eastern and Southern Africa (COMESA) Annual Research Forum opened on Tuesday, with a focus on emerging issues in regional integration. The forum, held virtually under the theme “Fostering Economic Integration and Inclusivity in COMESA through Value Addition, Green Investments, and Tourism,” has brought together about 100 participants...
NAIROBI, (Reuters) – Workers at Kenya’s main international airport began a strike on Wednesday against an Indian company seeking to lease it, blowing plastic trumpets and scuffling with police in a protest that caused cancellations and delays for hundreds of passengers. Dozens of workers at Nairobi’s Jomo Kenyatta International Airport chanted “Adani must go”, referring to a proposed deal...
NAIROBI/BEIJING, (Reuters) – China stopped short of providing the debt relief sought by many African countries this week, but pledged 360 billion yuan ($50.7 billion) over three years in credit lines and investments. The Forum for China-Africa Cooperation (FOCAC) launched in 2000 took on an enhanced role after the 2013 inception of President Xi Jinping’s Belt and...