By Jason Mcgee-Abe Omantel has announced that it will build a cable system linking Oman to Puntland, Somaliland and Ethiopia. The Gulf to America (G2A) system will offer connectivity from the Middle East to emerging markets in East Africa, and aims to support the growing demand for cloud services and applications. It is scheduled for...
By John Aglionb As big African airlines are grounded in heavy losses, Ethiopian Airlines continues to spread its wings. An aggressive expansion strategy has helped the state-owned carrier transform itself from a competent regional player to the continent’s leading carrier in just five years. In a region where most airlines are struggling to break even...
By Mbatau wa Ngai The economic benefits to be derived from intra-Africa trade are so huge that Kenyan and Nigerian leaders ideally require no persuasion to set the ball rolling. A good place to start may be placing before the Japanese-Africa Trade and Investment Conference scheduled to be held later this year in Nairobi proposals...
After decades of economic and political instability, Somalia’s central bank governor says he wants the country to mint its first currency since the 1980’s. As Grace Pascoe reports he hopes it will help rebuild an economy emerging from tears of chaos at the hands of Islamist and clan militias. See Video: Can a new currency...
NAIVASHA, Kenya, (Xinhua) — The Kenyan government has announced plans to hasten the rollout of the special economic zones (SEZ) as part of efforts to increase the country’s exports. Industry, Investment and Trade Cabinet Secretary Adan Mohamed said increasing investor confidence will herald a new dawn in industrial and trade investments in the country and...
(CNN) – With the headquarters of the African Union located in Ethiopia’s capital city, as well as an award-winning airline and a rapidly-growing economy, Addis Ababa is increasingly recognized as a political and economic hub in Africa. Now, with its rich cultural and artistic heritage, a new generation of Ethiopians are trying to put Addis...
NAIROBI — State-owned National Bank of Kenya (NBK) said its Chinese yuan clearing house which was launched in Nairobi last year will help to boost Sino-Kenya trade. NBK’s Managing Director Munir Ahmed told Xinhua in Nairobi that the clearing house will make it easier for Kenyan businessmen to access the Chinese currency. “It is now...
The fastest shrinking and growing economies in 2016 WORLD GDP is forecast to grow by 2.7% in 2016, according to the Economist Intelligence Unit (in 2015 the economy is estimated to have expanded by 2.4%). This moderate outlook reflects the fact growth is still lacklustre in the euro area, Japan and emerging market economies as...
By William Davison Ethiopia said it will abandon a development plan for the capital, Addis Ababa, and surrounding areas of Oromia state after almost two months of protests. Opposition by the ethnic Oromo party in the Horn of Africa nation’s ruling coalition means the end of the integrated master plan, Communications Minister Getachew Reda said....
Mobile money selling points in Kigali, established by the various operators in the country. PHOTO | CYRIL NDEGEYA By Jean-Pierre Afadhali Rwanda is increasingly adopting mobile financial services at a faster pace, a development which makes it competitive in the other economies in the region. In recent years, Kenya and Tanzania have been applauded as mobile...