As African leaders gather for the 38th African Union (AU) Summit, the call for a visa-free continent has taken center stage. The AUC and the African Development Bank (AfDB) have jointly urged African governments to accelerate the removal of visa restrictions that continue to hinder regional integration, trade, and economic development. Speaking at the High-Level...
By Mohamed Abdiwahid Abdullahi A nation, with a long history of conflict, political instability, and economic trials, Somalia stands on the threshold of a transformative opportunity: oil exploration. With prospects of having vast untapped hydrocarbon reserves, both off and onshore, the east African nation could leverage its natural resources to propel economic growth and stability....
ADDIS ABABA (Xinhua) — The Ethio-Djibouti Standard Gauge Railway Share Company (EDR) is making good progress, boosting its capacity for carrying export and import goods, EDR Chief Executive Officer Takele Uma disclosed Thursday. “With the addition of more locomotives and wagons, we are now able to serve even more areas, expanding from Indode and Adama...
In the remote village of Tum, located 4,650 feet above sea level and just 20 to 30 kilometers from Ethiopia’s border with South Sudan, Meskerem Tadesse’s life has been transformed. A mother of four, Meskerem once spent hours every day on tasks made harder by the lack of electricity. She gathered firewood daily to cook...
Ethiopia’s public debt has reached a total of $68.86 billion by June 2024, according to the Ministry of Finance’s recently released Public Sector Debt Portfolio AnalysisNo. 25. This figure represents 32.9% of the nation’s GDP, marking a decline from 57.2% in 2019, signaling progress in managing debt levels. However, the report highlights ongoing challenges that demand...
KIAMBU, Kenya (AP) — Turn into Tatu City on the outskirts of Kenya’s capital, Nairobi, and it feels like entering a different world. Even the country’s most reckless drivers are transformed, slowing to a crawl and not tossing trash out the window — thanks to surveillance cameras and rigorously enforced penalties for speeding and littering. For the...
NAIROBI/ABU DHABI (Reuters) – Kenya has started discussions with the United Arab Emirates to secure financing to complete a regional railway, President William Ruto said, after China cut infrastructure funding to the project. The railway connecting the Kenyan port of Mombasa with landlocked neighbours, as part of China’s Belt and Road Initiative, ended in the...
LONDON (Reuters) – Some World Bank staff have criticised an assessment of Ethiopia’s finances conducted with the International Monetary Fund, questioning whether the analysis that underpins the country’s debt restructuring may be “faulty”. In an internal paper seen by Reuters, World Bank consultant Brian Pinto and its chief economist Indermit Gill assess the Debt Sustainability...
By Abdiqani Haji Abdi The Lasanod war, concluded a year ago as part of the broader SSC conflict, marked a defining moment for Somaliland, both politically and economically. One of its most devastating outcomes was the loss of the critical trade corridor through Lasanod, a lifeline that historically supported up to 75% of Somaliland’s bulk...
By Mohamed Olad Hassan, VOA Washington — In a landmark event for Somalia, President Hassan Sheikh Mohamud on Thursday officially launched the “New Mogadishu” development initiative, a transformative project that aims to reshape the capital’s economic landscape. The initiative includes construction of a modern airport, a port and a key economic zone, all focused on fostering...