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Africa Business News

Egypt Tender and Business News

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.

Shortlist Announced for First Ever Africa Architecture Awards

The shortlist of potential winners for the first ever Africa Architecture Awards have just been announced by , which are intended to recognize and reward worthy projects from around the continent and to create a broader awareness of the issues and opportunities inherent in the built environment through dialogue, analysis and critique

African Innovation Foundation Award Winners Announced

The African Innovation Foundation (AIF, www.AfricanInnovation.org) just announced the prize winners for the 6th edition of the coveted Innovation Prize for Africa (IPA, http://InnovationPrizeForAfrica.org). Innovators from Egypt, Uganda and Liberia won the top three awards.

IMF Completes First Review of Egyptian Economic Recovery Program

The International Monetary Fund's (IMF) Executive Board just completed its first review of Egypt's economic reform program, supported by an arrangement under the Extended Fund Facility. The successful completion of that will allow Egypt to access new disbursements of up to SDR 895.48 million, or about US $1.2 billion.

Renewable Water Sources Growing Scarcer in North Africa and Middle East

The United Nations recently issued a warning about water to those living in the Near East and North Africa regions. Their analysis says that the per capita renewable energy availability is around 600 cubic meters per person per year, only 10% of the world average. It is calling for immediate innovation to help solve the problem, something which is getting worse fast because of accelerating climate change.

Two-Tier Implementation for Common ECOWAS Currency Recommended

Taking a page from the EU playbook, the Economic Community of West African States (ECOWAS) is well on its way to introducing a common currency for the region. Former Nigerian President Olusegun Obasanjo strongly recommends ECOWAS should consider a two-track approach to proceed, one for those who are ready now and one for those not yet set up for the new currency.

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