As Nigeria celebrates Democracy Day on May 29, the presidency has reeled out what the Muhammadu Buhari administration has achieved in the last three years it has been in power. Mr Buhari was elected into office under the platform of All Progressives Congress (APC) after defeating then incumbent President Goodluck Jonathan of the Peoples Democratic…
Details Ethiopia’s state-run telecoms monopoly has agreed to allow some local firms to provide internet services through its infrastructure, a move seen as spurring competition and expanding the data market, officials said. Ethio Telecom has more than 16 million subscribers of internet services in the country of over 100 million people. It generated over 27.7 billion…
Details Construction arrangements are underway to kick start the Berbera Port expansion project. The port development is tripartite agreement between the United Arab Emirates (UAE), Ethiopia and the Government of Somaliland. Ali Ismail Mohamed, Head of Port Operations with the UAE based DP World Group Visited the Port of Berbera which is located 154 km out of the capital Hargeisa. On…
Details International donors have pledged $1.71 billion (1.45 billion euros) to support The Gambia’s democratic transition. The pledge was made at an international donors’ conference hosted by the EU and The Gambia on Tuesday. The conference was aimed at strengthening The Gambia’s democracy and development under President Adama Barrow, who came to power in January 2017,…
Details Rwanda will be soon be home to a hub for financial technology (Fintech), boosting start-ups in the sector. As part of this effort, a French Fintechfirm is in the process of setting up shop in Rwanda, The New Times has learnt. Joelle Durieux, the Chief Executive Officer of Finance Innovation, a French-based cluster for innovation…
Details As East Africa’s oil producers race to meet their production targets, funding and infrastructural development hurdles threaten to delay the projects. Uganda, for instance, has been forced to rethink its early oil production date of 2020, after it became evident that the refinery at Hoima, which is expected to serve the domestic and neighbouring markets,…
Details The ministers of trade from the ECOWAS sub-region have moved to strengthen economic integration among member states by urging them to adopt and present a common position based on regional instruments at the African Continental Free Trade Area (AfCFTA) negotiations. The ministers reached this position during the regional meeting in Abuja, to deliberate on trade…
Details Africa’s telecommunication giant MTN is said to start selling about a third of its Ghanaian unit worth $754 million representing 35 percent of the $2 billion next week in an initial public offering. This will be 10 times larger than the West African nations previous biggest-ever share sale, according to a Bloomberg report. Based on…
Details Kenya Association of Manufactures, KAM has partnered with Electricity distributor, Kenya Power in investing US $15m in a power stabilization project in Nyanza and Western Kenya. The project will involve the installation of additional transformers and repair of existing sub stations to curb power outages that have affected power supply in the regions. Kenya Power managing director Ken…
Details Mozambique has signed an MOU agreement with GLAE, Great Lakes Africa Energy to construct a 250Mw gas-fired electricity generating power plant that will cost US $400m. The MoU agreement which was as a result of Mozambique’s Rovuma Basin domestic gas tender, the results of which were announced in January 2017 was signed by Mozambique’s Minister…
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