Ethiopia's Shipping Company Plans Rapid Maritime Fleet Expansion
The Ethiopian Shipping and Logistics Services Enterprise (ESL), known commercially as Ethiopian Shipping Lines, is mulling a rapid expansion of its maritime fleet with the addition of six new bulk [...]
African, Asian Development Banks Sign US $1bn Agreement
The African Development Bank (AfDB) and the Asian Development Bank (ADB) have signed a US $1bn exchange exposure agreement (EEA) to enhance AfDB's capital base on the sidelines of the [...]Airtel Revenues Grow by 7.5% in East Africa Amid Currency Devaluations
The strength of the Kenyan shilling over the year has positively impacted Airtel Africa's growth rates and revenue in the East African market, coupled by a rising customer base in [...]
Uganda-Tanzania Oil Pipeline Faces Funding Hitches
Climate activists opposed to the East African Crude Oil Pipeline (EACOP) have pressured six western banks to cease their funding pledges to the project, complicating its development. Now equity is [...]Exclusive: JPMorgan CEO Jamie Dimon Speaks on Africa's Growth Potential
Mid this month, JPMorgan Chase, the largest bank in the United States with more than $4.2 trillion in assets, marked a strategic expansion into Sub-Saharan Africa by opening representative offices [...]
Kenya's Economic Growth to Slow Down to 5.0% in 2024, 2025- IMF
Kenya's economic growth, as measured by Real GDP growth, will slow down from 5.6% in 2023 to 5.0% in 2024 and 2025 respectively, the International Monetary Fund has predicted in [...]Africa Calls for US$ 120bn Development Fund, Reforms in Global Financial Structures
Africa is pushing for an additional US$15bn in funding for the International Development Association, after The World Bank and its donors said they would replenish the IDA with US$105 billion, [...]China, AU, SADC Call for an End to Sanctions on Zimbabwe on Anti Sanctions Day
China, the African Union, and the Southern African Development Community (SADC) have supported Zimbabwe's call for an end to sanctions, which they say have stifled the country's, and the region's, [...]Africa's Financial Markets Expand in 2024 on Economic Recovery Absa Group Survey
Africa’s financial markets have expanded at the fastest pace since 2017 due to the overall recovery of economies bouncing back from global shocks, according to a survey by Absa Group. [...]US Approves $458mn Grant to Zambia as Race for Raw Materials Heats Up
Zambia and the United States (US) have signed a $491mn Zambia Farm-to-Market Compact to boost economic growth in the latter, in what is the latest in a series of deals [...]Uganda's Parliament Rejects Proposal to Merge Tax Appeals Tribunal with Other Tribunals
Uganda's legislature, which is currently considering bills that rationalise government operations, has rejected a proposal to merge all tribunals into a single entity. “The framers of the 1995 Constitution were [...]Canada to Reduce Immigration Significantly' For the Next Two Years-PM Trudeau
Ottawa, Canada, has said that it will reduce immigration into the country significantly' for the next two years, Prime Minister Justin Trudeau said on Thursday while announcing the Canada's 2025-2027 [...]
