Press Release The International Monetary Fund (IMF) on February 5, 2015 launched a multi-donor trust fund to deliver capacity development in Somalia. The Somalia Trust Fund aims at improving macroeconomic institutions, policies, and data systems and will provide over nine (9) million dollars worth of technical assistance and training to Somalia over the next three years....
African business forum- Not so long ago, doing business in Africa was regarded a tortuous process at best and downright impossible at worst. Everything, it seemed, conspired to stop you conducting your business with any measure of ease. No longer. The latest World Bank Doing Business report says that African countries are now among the...
Mogadishu ( Xinhua) – The thought and convenience of shopping at 10:00 p.m. in Somalia was until recently a distant dream to many shoppers in Mogadishu, but the emergence of the first of a kind supermarket is turning this dream into a reality. In over two decades of political turmoil and war, Mogadishu was a...
By GEORGE NGIGI The Kenyan economy is set to grow by six per cent this year, riding on infrastructure developments and low oil prices, the World Bank said on Thursday. However, the Bretton Woods institution warned of over-reliance on government spending in driving the economy. Economists at the bank said further drops in oil prices to...
By Mark Schoeman The leaders of the African continent declared their resolve to follow through on their ‘Agenda 2063’ vision at the 24th African Union (AU) Summit held in Addis Ababa, Ethiopia last month. The Agenda was envisaged in 2013 to provide a vision and strategic framework for achieving African development over the next 50...
NEW YORK (AP) — Americans may just be getting used to mobile pay, but consumers in many African countries have been paying with their phones for years. Now payment processors Visa and MasterCard want to get a slice of that market, and are launching card services aimed at Africa’s growing mobile payment industry. VISA CARD...
By Johnny Magdaleno For the last three weeks, Ali Eishe has been scrambling to find a way to send money to his nieces and nephews in Somalia. From his home in Columbus, Ohio – host to the second-largest Somali population in the US — he sends up to $200 a month. The money comes from his...
By BROOK ABDU Tekleberhan Ambaye Construction Plc (TACON) has completed the construction of its first out-of-country contract of Berbera International Airport terminal and 12Km perimeter fence at a cost of 80 million Birr in Somaliland gaining a profit of only three million Br. The construction, which began a year ago, was finalized in a joint...
By EDWIN OKOTH Professor Njuguna Ndung’u will not be the Central Bank of Kenya governor from midnight, as the question of who will succeed him remains unanswered. Prof Ndung’u’s tenure ends after seven years at one of Kenya’s most powerful offices. His term has been characterised by huge expectations, most of which are largely unmet,...
The rise of e-commerce on the African continent is changing the face of the traditional consumer, and brands need to adapt their business models and strategies in order to remain relevant amongst consumers and avoid a drop in market share. African consumers are increasingly searching online platforms with commercial intent, which include querying prices of...