ABIDJAN, Ivory Coast, — The details of the “Desert to Power Initiative” have been outlined as part of the Paris Agreement climate change talks at COP24 in Katowice, Poland this week. Energy poverty in Africa is estimated to cost the continent 2-4 % GDP annually, according to the African Development Bank (AfDB) which is leading...
Ethiopian Airlines and the European Union Delegation to Ethiopia signed a letter of intent to establish Ethio-European International Business School (EEIBS). The letter was signed by H.E. Ambassador Johan Borgstam, Head of the European Union Delegation to Ethiopia and Mr. Tewolde GebreMariam, Group CEO of Ethiopian Airlines on December 04, 2018 at the Airline’s Headquarters....
(Reuters) – U.S.-based aid agency Mercy Corps has appointed consultancy IFAAS to help launch an Islamic microfinance business in Ethiopia, aiming to offer interest-free products to local communities, the firms said in a joint statement. Mercy Corps, one of the largest humanitarian organizations delivering aid to conflict zones including Syria, hopes Islamic finance can support...
By Tiisetso Motsoeneng, Nomvelo Chalumbira, Wendell Roelf JOHANNESBURG (Reuters) – Armed with low-cost operating models, three South African digital banks are betting on aggressive pricing and data analytics to attract tech-savvy, price-conscious consumers when they launch next year in a rare challenge to the old guard. It will be first time the $30 billion industry...
NEW YORK (Reuters) – Debt among non-financial corporations across the globe rose to a record high of $75 trillion in the second quarter, driven mostly by China and the United States, the Institute of International Finance said in a report. “China’s corporate sector has some of the highest debt levels in the world,” the report,...
LONDON/MOSCOW (Reuters) – The impoverished state of Central African Republic landed a windfall on Tuesday, at least on paper, when Russian state bank VTB reported it had lent the country $12 billion — but the bank then said it was a clerical error and there was no such loan. The loan was mentioned in a...
By KENNEDY KIMANTHI The Sustainable Blue Economy Conference, co-hosted by Kenya, Canada and Japan, is currently underway in Nairobi. Kenya is leveraging on the high-level global event to harness and revamp its blue economy. NATIONAL DEBATE The “blue economy” concept refers to the use of seas, oceans and lakes and their resources for sustainable economic...
By Abdul Ahmed III Peace is not an absence of war, it is a virtue, a state of mind, a disposition for benevolence, confidence, justice. Baruch Spinoza For the last several weeks, people of the Horn of Africa, have been engaged in debates about new bold ideas of reform presented by the new populist, energetic...
The East African The Kenya Civil Aviation Authority (KCAA) is investigating three local airlines for operating miraa (khat) cargo business on the Nairobi-Somalia route. This comes barely a few months after the regulator directed that only cargo-configured aircraft can transport goods. KCAA director-general Gilbert Kibe told the Business Daily that the three airlines are being...
DUBAI (Reuters) – Global ports operator DP World DPW.DI believes international trade tensions such as those between the United States and China will make 2019 challenging but not unmanageable, its chairman said on Sunday. The Dubai government-controlled ports operator cautioned in August about geopolitical risks and changes in trade policies as first-half profit fell 2.1...