The African Finance Corporation, a Nigeria-based multilateral institution focusing on African infrastructure investments, just announced that the Republic of Malawi has joined AFC as only the second Southern African member country.
Somalia and Djibouti have announced a conference for the telecom operators of Somalia, Djibouti Telecom, and Government in Mogadishu by 2018 March to discuss their collaboration in the Djibouti African Regional Express (DARE) project.
As a part of the African Union (AU) initiative, the International Air Transport Association (IATA) has announced the launching of the Single African Air Transport Market (SAATM) with the goal of opening up Africa's skies and improving intra-African air connectivity.
Sweden has announced its investment of over SEK 800 million to the 'Strategy for Sweden'’s regional development cooperation in sub-Saharan Africa.
According to a new report by Baker McKenzie and Silk Road Associates, China's Belt and Road Initiative (BRI) is increasing BRI-related projects with up to US $350 billion over the next five years. Kenya, Tanzania, Ethiopia, Djibouti and Egypt are among the major African economies which may benefit from this substantial investment.
After a four-day official visit by H.E. Abdi Ashur Hassan, Somalia's Minister of Post, Telecommunications and Technology, to Djibouti, the Somali minister and H.E. Abadi Youssouf Sougeh, Djibouti's counterpart, have issued a joint statement on plans for cooperation between the two countries on telecom issues.
On August 1, China celebrated two major milestones in its history. The first was the 90th birthday of its People’s Liberation Army. The second was the opening of its first foreign base anywhere.
The Food and Agriculture Organization (FAO) and the African Development Bank (AfDB) have begun a new major collaboration initiative to help transform precarious situations in the desert part of Africa into developmental opportunities. It is called the 'Desert to Power program', and will be deployed to 11 countries including Sudan.
Africa Finance Corporation (AFC), a major pan-African multilateral development finance institution and project developer focuses on infrastructure, just added Kenya as its 15th member nation.
A new competition was just launched to find and support providers of innovative and scalable financial products and services that improve the lives of poor people in rural areas of Africa.
Djibouti will soon be launching a new project to bring the benefits of electricity to approximately 100,000 people (equivalent to 14,000 of its poorest households). This is thanks to the Washington, D.C.-based World Bank's latest project funding.
As the 2017 annual meetings of the African Development Bank (AfDB) are being held in Ahmedabad, India, from May 22-26, Dr. Akinwumi Adesina, AfDB's President, reflects on the parallel paths of and strong ties between India and Africa.
The Danish government is sending a detachment consisting of a Challenger aircraft to monitor shipping traffic in the Indian Ocean and along the Horn of Africa.
Multilateral development banks (MDBs) leaders have agreed to deepen their collaboration to encourage private sector investment in vital infrastructure needed to support sustainable and inclusive economic growth throughout the world.
To help the tiny but strategically-located state of Djibouti find ways to expand and support job growth especially among the poor, an integrated national plan called 'Vision Djibouti 2035" defines a detailed investment plan for the country. It aims to change the country into a major logistics and commercial hub for the Horn of Africa.
Djibouti, on the Horn of Africa at the shipping gateway to the Middle East, may be tiny but is turning into one of the most valuable investment locations in the world. And with $12 billion of Chinese investment alone pouring into this country of 900,000 citizens, no wonder it is being referred to as 'the Dubai of Africa'.
On any given Sunday afternoon in the capital of Ethiopia, Yemeni émigré men in their fifties and sixties show up at a traditional Yemeni-styled mafrajroom clutching bundles of green, leafy stalks: khat. Chewing its leaves is a part of culture and tradition, but with its psychotropic qualities it is questioned by many as to whether it should be outlawed.
China-backed Silkroad International Bank, is now open for business in Djibouti. It is the first Chinese-funded enterprise to receive a banking license in all of Africa, and is also the first joint venture bank in Djibouti.
A congress billed as the world’s largest ever to focus on the environment has opened to warnings that our planet is at a “tipping point” but also with expressions of hope that governments, civil society and big business are learning to work together.
Can African farmers feed the world?. Apparently the answer is “yes.” Bold as it may sound, this statement is based on specific facts: Africa is home to 60-65 per cent of the world’s uncultivated arable land and 10 per cent of renewable freshwater resources, and it has registered a 160 per cent increase in agricultural output over the past 30 years.
As countries in Eastern Africa have pressed hard for economic expansion, debt has gone up rapidly in recent years. According to a just-issued UNCTAD Economic Development in Africa report, "Debt Dynamics and Development Finance in Africa", however, the debt at this point is still manageable when balanced against any risks associated with the debt.
United Nations leaders said today that much more needs to be done to prevent further suffering, strengthen resilience and preserve livelihoods in the wake of El Niño's devastating effects worldwide. Africa was the worst hit, with 40 million of the estimated 60 million affected globally residing in East and Southern Africa.
The United Nations will undertake a major review of progress made in the world’s 48 Least Developed Countries (LDCs) later this month.
Imagine a world without the media, where we have no verified information about what’s going on around us. Where everything is hearsay and gossip, where there are no trusted sources of information. It would be hard to operate in a world like that: to make decisions about what to do about the things that affect our lives.
SWIFT data shows a double digit growth of RMB adoption by financial institutions established in all regions. In February 2016, 1,131 banks were using the RMB for payments with mainland China and Hong Kong, representing 37% of all institutions exchanging payments with mainland China and Hong Kong across all currencies.