By MARTIN MWITA Slowing global growth is set to hit foreign direct investments inflows into the country this year, the Central Bank governor Patrick Njoroge warned yesterday. He said subdued global growth, projected to expand 3.1 per cent this year, and the faltering China economy has created uncertainty in the global markets, hurting growth. That...
JOHANNESBURG, South Africa, — Facebook is accelerating its efforts to bring internet connectivity to the four billion people around the world who are not yet online, with the goal of contributing to prosperity, progress and development around the globe. The company’s Connectivity Lab has reached a major milestone in this ambition with the first full-scale test...
TANZANIA (eTN) – Looking ahead to the forthcoming Africa Travel Association (ATA) Annual World Tourism Conference in Rwanda later this year, airlines flying within and outside the African continent are counted as the leading key partners to African tourism growth. In collaboration with the Rwanda Development Board, the 41st ATA Congress is designed to set...
JOHANNESBURG, South Africa, — According to EY’s 2016 Africa attractiveness program 2016, Staying the course, despite a relative slow down, Sub-Saharan Africa remains one of the fastest growing regions in the world. This is reflected in the foreign direct investment (FDI) levels in 2015, where FDI project numbers increased by seven percent. Although, the capital value...
By ALY KHAN SATCHU The IMF released its World Economic Outlook last week. The IMF stated in the outlook report: ”Growth projections were revised down substantially in sub-Saharan Africa, reflecting challenging macroeconomic conditions in its largest economies, which are adjusting to lower commodity revenues. In Nigeria, economic activity is now projected to contract in 2016,...
Under the project, Ethiopia could export 10M cubic meters of LNG to China each year FILE PHOTO By Addis Getachew ADDIS ABABA , Ethiopia says physical work on a massive $4 billion cooperative natural gas project between Ethiopia, Djibouti, and China will soon be launched. The announcement was made Thursday by Ethiopian Foreign Minister Tedros Adhanom...
Addis Ababa.The Ethiopian Airlines, the national carrier has signed a Memorandum of Understanding (MoU) with Aerosud Holdings to establish a joint venture Aerospace Manufacturing company in Ethiopia. Aerosud is expected to manufacture and supply various aircraft parts to Boeing, Airbus and other Aerospace companies, Ethiopian announced. At the signing ceremony, CEO of Ethiopian, Tewolde Gebremariam...
A view of the Nairobi skyline. PHOTO | SALATON NJAU By VICTOR JUMA Kenyan cities are tipped to register the highest growth rates in consumer spending over the next 15 years, outpacing the Nigeria, South Africa and Cameroon metropolises. Research firm Euromonitor International in a new report covering 24 cities projects that consumer expenditure in Kisumu...
KIGALI Rwanda (Xinhua) — The African Union Commission (AUC) has urged African leaders and policy makers to speed up the Continental Free Trade Area (CFTA) negotiations and meet the 2017 deadline. Fatima Haram Acyl, AU Commissioner for trade and industry, made the call on Thursday during the ongoing 27th African Union (AU) Summit in Rwanda’s...
By Rick Rowden The research department of the International Monetary Fund dropped a political bombshell last month. The furor was set off by the publication of an article — “Neoliberalism: Oversold?” — that sparked a near-panic among advocates of free market policies and celebrations among their critics. The piece concluded that, over the past 30...