Category: Market Bazaar

Ethiopian Airlines plans on the transshipment of around 600,000 t of fresh and dry goods per year at the Addis Ababa airport in Ethiopia. Unitechnik was commissioned with planning the necessary air cargo terminal as well as implementation of the intralogistics. The new air cargo facility is comparable in size to five soccer fields and...

By Ronald Ssekandi, Yuan Qing KAMPALA, (Xinhua) – Beatrice Nassanga owns a chain of pharmacies in Kampala, Uganda’s capital. Over the years her clients have turned cashless and embraced the mobile money technology. When clients or patients turn up at her pharmacies, they purchase drugs by sending a short mobile message (SMS) to her phone,...

By O’Brien Kimani The National Treasury has ruled out intervening to stop further slide of the Kenyan shilling. Cabinet secretary Henry Rotich says the weakening of currencies is a global trend occasioned by the strengthening dollar. The Kenyan shilling, which was quoted at a mean of 95.35 to the dollar Thursday, has lost close to...

By  Xola Potelwa Pressure is building on the Central Bank of Kenya to increase borrowing costs this year as a weakening currency erodes returns on local debt, a drought hinders food production and Islamist militant attacks deter tourists. While the central bank will probably keep the key lending rate at 8.5 percent on Wednesday, according...

Addis – Ababa- Ethiopia’s indigenous grain teff is garnering global interest as a new super food, while Ethiopia’s government tries to ensure local prices don’t rocket for Ethiopians. Every six days a week an Ethiopian Airlines flight departs Addis Ababa for Washington in the US with a fresh batch of 3,000 injera on board. This...

(CNN) Nigeria is set to be the first African country with an economy larger than $1 trillion, according to the latest projections from the U.S. Department of Agriculture. Africa’s most populous nation, which recently held peaceful elections, revamped its gross domestic product data in 2014 and pulled ahead of South Africa to become the continent’s...

Nairobi, (Reuters) – Kenya’s economic growth slowed to 5.3 percent in 2014 from 5.7 percent in the previous year, hurt by a contraction in tourism and weaker agricultural output, a cabinet minister said on Wednesday. East Africa’s biggest economy has struggled with challenges that have hurt its key foreign exchange earners, including periodic droughts that...

Nairobi – Kenya tops the list of African countries with ease of access to financial services — thanks to its high uptake of mobile money — placing the country ahead of economic giants such as South Africa, Nigeria and Ghana, fresh data from the World Bank shows. The Global Findex Database 2014 said 75 per...

Addis Ababa — That growth has been fueled in part by the lure of tax breaks for exporters. But the government has also leveraged loans provided by the World Bank to shore up the nation’s infrastructure. Designed to be Africa’s largest hydroelectric dam, the Grand Ethiopian Renaissance Dam is under construction as a means to...

Addis  Ababa- The International Finance Cooperation (IFC), member of the World Bank Group, announced it will lend up to 90 million Euros to Afriflora Group, a large-scale rose grower and distributor based in Ethiopia. In a statement it issued, IFC said that the funding will support Afriflora’s plan to expand production by 60 per cent,...