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Africa Business News

Egypt Tender and Business News

Siemens Gamesa Secures Largest Contract in Egypt

Spanish wind energy company Siemens Gamesa Renewable Energy has been selected to install 125 of its G97-2.1MW turbines (total capacity of 262.5 MW) at the Egyptian wind farm Gulf of Suez, of Ras Ghareb Wind Energy SA.

Egypt Keeps Journalist in Pretrial Detention for Over a Year

Egyptian journalist Mahmoud Hussein was arrested on December 22, 2016, with charges of "incitement against state institutions and broadcasting false news with the aim of spreading chaos". On December 22, 2017, he was still in pretrial detention without proper due prorcess.

ITFC and Africa-Export Import Bank Bring Major Funding to Expand African Exports

The Saudi Arabia-based International Islamic Trade Finance Corporation (ITFC), and the Africa-Export Import Bank (Afreximbank) (Afreximbank.com) have signed off on an agreement with US$100 Million and a EUR 50 Million Murabaha agreement, for facilitating and financing exports amongst African countries and between Africa and the rest of the world.

Honoris United Universities to Establish Branch in Cairo

UK-headquartered Honoris United Universities (www.Honoris.net), the first private pan-African higher education platform, announced that it has signed an MOU with the Egyptian Ministry of Higher Education to establish a branch in the capital city of Cairo.

5 African Economies Show High Promise for Belt and Road Investments

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.

IMF Says Egypt's Tough Fiscal Reforms Are Paying Off

After Egypt's economy faced rising imbalances leading to high public debt, a widening current account deficit, and declining official reserves, the country was pushed to launch a major reform program in November 2016. According to a new review from the International Monetary Fund, those reforms are now beginning to pay of.

Egypt and U.S. Partner on Workforce Skills Education Program

Egypt's Ministry of Education and Technical Education (MOETE) and the U.S. Agency for International Development (USAID) held a workshop this week to highlight Workforce Improvement and Skills Enhancement (WISE) project’s efforts to link Egyptian students with the workforce and private sector jobs.

Report on Africa Airline Seat Capacity Shows Major Drop

According to a report from Valencia, Spain, based ForwardKeys on airline capacity in Africa, Lagos, Nigeria in particular is showing a significant seat capacity decline in 2017. According to a spokesperson from AviaDev, a major airline route development conference in Africa, this comes directly from the difficulty in bringing revenues back out of the country in 2016.

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