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Southern African Development Community – Time to Open Up

Southern African Development Community – Time to Open Up

For the second time this year, the Heads of State of the Southern African Development Community (SADC) will meet at a regional forum. This meeting is the annual SADC Summit and it will take place in Gaborone, Botswana. The first was an Extraordinary Summit that was held in Harare at the end of April to […]

Buhari Launches Probe Into Alleged Diversion of U.S. $1 Billion Loan for Rail Projects

Buhari Launches Probe Into Alleged Diversion of U.S. $1 Billion Loan for Rail Projects

President Muhammed Buhari Monday in Abuja called for an explanation from the Ministry of Finance on the foreign loans obtained for rail projects but diverted to other purposes. Speaking at the end of a presentation on the Ministry of Transport by the Permanent Secretary, Mohammed Bashar at the Presidential Villa, President Buhari said that it […]

Tanzania-Kenya Highway Upgrade to Boost Trade

Tanzania-Kenya Highway Upgrade to Boost Trade

The upgrade of a key link road between Tanzania and Kenya is underway, raising prospects for enhanced cross-border trade. The expansion of the multimillion-dollar superhighway running from Arusha-Holili in Tanzania to Taveta-Voi in Kenya, is expected to ease the movement of goods from Kenya’s Mombasa port to landlocked countries. The superhighway, which will be implemented […]

Algeria-WTO – Progress of Negotiations Not Remarkable’- Minister

Algeria-WTO – Progress of Negotiations Not Remarkable’- Minister

The process of negotiations between Algeria and the World Trade Organization (WTO) has not remarkably changed, Minister of Trade Bakhti Belaïb stressed Wednesday in Algiers, advocating a “clear vision “on the rights the country must claim. “I have tried in recent weeks to provide an update on this issues (accession of Algeria to the WTO) […]

China Loans Zambia US$29 Million for Infrastructure

China Loans Zambia US$29 Million for Infrastructure

The China Development Bank (CDB) and the Zambia-China Economic & Trade Cooperation Zone (ZCCZ) have signed a loan of 29 million U.S. dollars to improve infrastructure at its Lusaka Park, a senior Chinese bank official has said. The improvement of infrastructure at the ZCCZ was aimed at providing a better development platform for enterprises in […]

Africa Still Remains Underdeveloped

Africa Still Remains Underdeveloped

Having borne the effects of the global credit crunch better than most continents, it is a wonder that Africa still remains dwarfed in terms of tangible economic growth. While most of the countries have continued to record an average growth of five per cent in the gross domestic product, it remains to be seen how […]

The Danger of Land Price Bubble in Ethiopia

The Danger of Land Price Bubble in Ethiopia

Land price bubble (housing bubble) is a response to basic supply and demand. Bubbles generally occur when speculators enter a market where demand is already high and attempt to profit through short-term buying and selling, further driving up demand. Speculative bubbles may also be defined as persistent, systematic and increasing deviations of actual prices from […]

Rwanda Gets US$50 Million for Water Project

Rwanda Gets US$50 Million for Water Project

Rwanda signed two financial agreements in form of grants with the Netherlands worth euro 44.9 million (some $50 million). The money is for supporting Integrated Water Resource Management (IWRM) and to the Netherlands Initiative for Capacity building in Higher Education (NICHE2). The IWRM project will be supported with $34.9million, whereas the NICHE 2 project will […]

Mota-Engil Africa expects flat revenues as it reaches beyond Angola

Mota-Engil Africa expects flat revenues as it reaches beyond Angola

Mota-Engil Africa, the Africa-focused unit of Portugal’s largest builder, said it expected turnover to be flat this year as it continued to diversify away from its traditional home market of Angola. Posting its first annual results since listing in Amsterdam last November, the company said on Monday it had made earnings before interest, tax, depreciation […]

Angola seeks $10bn for infrastructure

Angola seeks $10bn for infrastructure

Angola, Africa’s second-largest oil producer, is seeking to raise up to $10bn from foreign creditors as it attempts to push ahead with key infrastructure projects in the face of severe headwinds triggered by the collapse in crude prices. The southern African nation has slashed its budget for the year by a quarter, or about $15bn, […]

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