Washington, DC — IFC, a member of the World Bank Group, today announced an advisory services agreement with Chase Bank Kenya aimed at increasing access to finance for small and medium enterprises in Kenya, especially for women entrepreneurs. IFC will provide advisory services over 15 months to help Chase Bank build its capacity to provide...
Djibouti ( IGAD) – The ISTVS Governing Council membership comprises of three representatives from IGAD (including the IGAD director of Agriculture and Environment Division, director of ICPALD, founding institution (Terra Nuova), representatives of the Vice-Chancellors of partner universities (Makerere University, University of Nairobi, Mekelle University), chair of IGAD Partners Forum, representatives of the private sector (dryland...
By Mohamed Osman and Abdelkarim A. Hassan Private sector investment is paramount to development programs in fragile countries and is essential to stimulate economic growth and to create employment opportunities. Nevertheless, these fragile countries such as Somalia face major challenges in accessing finances and investments due to political instability, mass corruption, poor infrastructure, weak institutions,...
By Dinfin Mulupi East Africa’s shopping landscape is slowly changing with the construction of multi-million dollar centres in prominent cities. Many projects are being developed by investment firms and private equity funds eager to cash in on the region’s burgeoning consumer markets. In Nairobi, London-based private equity firm Actis is set to open its $250m Garden...
By Stuart Williams Istanbul (AFP) – Turkish Airlines is aiming to double its passenger numbers in less than a decade with the help of an ambitious planned new airport near Istanbul, championed by President Recep Tayyip Erdogan, the CEO of the fast-growing flag-carrier said. Chief executive Temel Kotil also said Turkish Airlines’ growth strategy did...
Djibouti – “The first objective for the creation of this national carrier is to have an indispensable tool for international influence and promotion of our country’s visibility,” Djibouti’s Foreign Minister Mahmoud Ali Youssouf said in a press statement. He explained that the project’s second objective is economic growth and development of air traffic. “Creation of...
By Bjorn Lomborg There are plenty of things, which those of us lucky enough to live in the industrialised world take for granted; running water and flush toilets are among the most basic of these. 2.5 billion – almost half the developing world – lack even a basic latrine and one billion have to resort...
By Thomas Heath Thriving businesses — and the profits, jobs, dividends and philanthropy that accompany them — build productive societies. Matthew Davis is trying to do just that in Africa. The physicist-turned-entrepreneur runs a small, Washington-based investment firm that is channeling money into African businesses, hoping to scale companies, instill the profit motive and create...
Djibouti ( AFP) – China is negotiating a military base in the strategic port of Djibouti, the president said, raising the prospect of US and Chinese bases side-by-side in the tiny Horn of Africa nation. “Discussions are ongoing,” President Ismail Omar Guelleh said in an interview in Djibouti, adding that Beijing’s presence would be “welcome”....
By JEAN-PIERRE AFADHALI Rwanda’s financial sector is becoming vulnerable to cyber security threats and fraud as the segment expands use of electronic payment system. National Bank of Rwanda (BNR) has warned that local banking sector is also prone to cyber fraud. According to official data, the country has lost Rwf257 million to cyber attacks and other...