In 1931, New York’s Empire State Building became the tallest building in the world and a symbol of America’s place on the world stage after World War II. Few expected, however, that at 381 metres (1,250 feet) high, it would remain the world’s tallest for more than four decades. After it was completed, the Great...
By HARUN MOMANYI Millions of Kenyans live on a shoestring budget. The current rate of inflation is not good for anyone. Even the rich complain about fuel, food and other commodities being pricey. There’s no one who is not directly affected by this. This has resulted in Kenyans having a hand-to-mouth lifestyle. They just work...
THE ancient holy town of Lalibela, perched some 2,500 metres above sea-level in Ethiopia’s northern highlands, boasts some of the clearest night skies imaginable. Ethiopian stargazers dream that the mountains around Lalibela may one day host a world-class observatory to rival the big ones in Chile and Hawaii. And in time Ethiopia hopes to do...
African Business Magazine Western multinationals used cheaper labour in underdeveloped countries to manufacture products that relied on inputs from all over the world and technologies developed in their more expensive labour markets. Studies now suggest these advantages are being lost. Labour is no longer as cheap in many places. In China, for example, lifestyles are...
The capital of Somalia is now open for foreign investment as the city has significantly improved its security and infrastructure issues, according to the mayor of Mogadishu, Yussuf Jimale. Speaking at a welcome event for the Turkish deputy prime minister, Veysi Kaynak, Jimale said he also offered other incentives to member of Somalia’s diaspora, including...
By FRED OLUOCH, The East African Authorities in Mogadishu say that the city is now ready for full scale foreign investment since security and infrastructure have significantly improved, despite some lingering challenges. The Mayor of Mogadishu, Yussuf Hussein Jimale, told The EastAfrican that the city is no longer considered high risk for foreign investors because of...
By Olive Burrows Nairobi — Transport Cabinet Secretary James Macharia says there is no reason direct flights from Mogadishu to Nairobi should affect efforts to realise similar plans between Kenya and the United States. Macharia says before the decision to allow direct flights between Nairobi and Mogadishu was taken, stakeholder awareness was carried out and...
Ethiopian Airlines is exploring plans to fly to Bulawayo, as Africa’s largest carrier expands its footprint on the local market. Ethiopian International Services managing director, Esayas Woldemariam told journalists on Sunday the carrier had set its eyes on Bulawayo. “We are planning to expand to Bulawayo. We are studying our numbers and because we have...
By Ed Cropley and MacDonald Dzirutwe | JOHANNESBURG/HARARE When President Robert Mugabe scrapped the Zimbabwe dollar in 2009, most of his people thought this meant the end of runaway money-printing and hyperinflation that had rendered the currency worthless. They may have been wrong. Adoption of the U.S. dollar and South African rand eight years ago...