| Africatime
Sunday 26 March 2017
(Agence Ecofin 03/22/17)
(Agence Ecofin) - Le patron du premier groupe privé algérien Cevital, Issad Rebrab, a annoncé le 21 mars que son entreprise est à la recherche de banques pour accompagner son projet d’implantation d’usines de trituration d’oléagineux et de raffinage du sucre en Ethiopie, pour un investissement de 360 millions de dollars. « Au total, nous aurons besoin de 360 millions de dollars juste en Éthiopie, sans compter la plateforme logistique au port de Djibouti. », a-t-il déclaré lors d’un forum tenu à Genève, indiquant que l’export se fera grâce à la ligne ferroviaire entre Addis- Abeba et Djibouti, inaugurée récemment. M. Rebrab, qui s’exprimait aux côtés du ministre éthiopien des Affaires étrangères, Workneh Gebeyehu, et...
(Bloomberg 03/20/17)
Ethiopian regional officials are demanding that foreign cement producers including Dangote Cement Plc hand control of some parts of their businesses to groups of unemployed youths. The Nigerian company, controlled by Africa’s richest man, Aliko Dangote, and others such as Saudi billionaire Mohammed al-Amoudi’s Derba MIDROC Cement Plc, should allow the youth to run their pumice mines, according to a draft contract drawn up by Oromia state’s East Shewa Zone administration this month. Pumice is an additive used in cement manufacturing and its extraction is overseen by local bureaucrats, rather than Ethiopia’s central government. “The youth have to get the advantage from the resource, and side-by-side the companies must get advantage from this resource,” Yohan Tesso, head of East Shewa’s...
(Agence Ecofin 03/20/17)
At the Africa CEO Forum which opened this morning in Geneva, AFD Group – in partnership with the European Union – unveiled the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on–grid and off-grid renewable energy production in Africa. In order to meet Africa’s constantly increasing energy requirements, support must be provided for mass development of the renewable energy technologies – especially solar energy – that will play such a key role over the coming years,...
(Voice of America 03/18/17)
Each year, the University of Southern California hosts the African Global Economic and Development Summit, bringing delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Visa issues are not uncommon for people traveling from African nations. During her prior three summits, Mary Flowers saw a high percentage of her attendees unable to attain visas. "Usually we get 40 percent that get...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations...
(AFP (eng) 03/13/17)
The Addis Ababa tramway is one of the few examples of urban public transport infrastructure in a continent where public transport system is severally constrained. But 14 months after it was inaugurated, the tramway is struggling to match user expectations. Problems with the design of the route, abnormally fast wear and tear resulting in breakdowns and delays has not unblocked the streets of the Ethiopian capital. And despite offering a slightly advantageous tariff on long journeys, the network of constantly overloaded private minibuses still remains the only option for majority of the inhabitants.
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh,...
(Agence Ecofin 03/10/17)
Last Wednesday, the World Bank announced it would provide more than $1.6 billion to Ethiopia, Kenya, Nigeria, Somalia, Southern Sudan and Yemen to fight hunger. More than 20 million people are to benefit from the facility. “Our first priority is to work with partners to make sure that families have access to food and water. We are working towards a financial package of more than $1.6 billion to build social protection systems, strengthen economic reliance, and maintain service delivery to...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of...
(Bloomberg 03/03/17)
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise...
(Dw-World 02/27/17)
The World Mobile Congress gets underway in Barcelona on Monday and one highlight is the reported relaunch of the Nokia 3310. In parts of Africa, simpler phones are coveted because they are robust and cheap. Melaketsehay Melese, a 33 year old resident of Addis Ababa, capital of Ethiopia, is known among friends and colleagues for being tech savvy. With his two jobs, as graphic designer and computer programmer, he's familiar with all the latest gadgets. He's often to be seen...
(AfricaNews 02/23/17)
The Ethiopian Prime Minister, Hailemariam Desalegn, has stated that his country was looking to work with the new United States government particularly in the area of trade and investment. He was speaking during a visit by a US delegation led by Republican Senator, Jim Inhofe, to Addis Ababa on Wednesday, the state-owned Ethiopia News Agency reports. The Premier said despite cordial relations between Washington and Addis, there was the need to boost trade and investment cooperation in general and the...
(Bloomberg 02/23/17)
Ethiopia may finance a road linking it with South Sudan’s largest oilfields, allowing the war-torn country to sell its neighbor fuel produced at a planned new refinery, a South Sudanese official said. The plan for a road linking the Paloch oilfields in South Sudan’s Upper Nile region with Malakal city and western Ethiopia is among the memoranda of understanding President Salva Kiir is due to sign this week during a visit to Ethiopia, according to Mayik Ayii Deng, a minister...
(The Ethiopian Herald 02/23/17)
Prime Minister Hailemariam Dessalegn said Ethiopia and Djibouti would expand joint infrastructural development activities that ensure mutual benefits. The Premier made the remark on Monday while holding talks with Djibouti's Minister of Economy and Finance Ilyas Moussa Dawaleh. The two sides exchanged views on the joint protection of the Ethio-Djibouti railway line and the planned oil pipeline. Maintaining Ethio-Djibouti asphalt road that links the two countries was also among the issues the parties conferred. Djibouti Economy Minister also handed over the message of President Ismail Omar Guelleh to Prime Minister Hailemariam Dessalegn. In the message to the prime minister, President Guelleh expressed his desire
(The Ethiopian Herald 02/22/17)
Ethiopia's ties with Gulf countries is gaining momentum Ethiopia and the United Arab Emirates (UAE) are desirous of strengthening their bilateral ties in economic and investment frontiers. Special Advisor to Ethiopian Prime Minister Amb. Berhane Gebre-Christos and UAE's Deputy Prime Minister and Minister of Presidential Affairs Sheikh Mansour bin Zayed Al Nahyan held talks on ways of enhancing the Ethio-UAE bilateral ties on Monday at the sidelines of the International Defense Exhibition and Conference (IDEX) being held in Abu Dhabi,...
(Xinhuanet 02/22/17)
Africa Energy Indaba, the continent's premier energy event, kicked off in Johannesburg on Monday with the aim of finding solutions to the continent's energy future. The three-day conference is being attended by the governments' representatives, business and funders. The meeting seeks to unleash the continent's potential by coming up with an energy mix to develop Africa. Dr. Garth Strachan, Deputy Director General and Head of Gas Industrialization Unit in South Africa's Department of Trade and Industry said the recent discoveries...
(Voice of America 02/15/17)
Ethiopia opened its Gibe III dam in December 2016 in the lower Omo Valley as part of a large project that includes sugar and cotton plantations, as well as dams. Water started collecting in a reservoir behind the dam in 2015, preventing it from flowing downstream to Lake Turkana in neighboring Kenya. Human Rights Watch says little is being done by either government to mitigate the impact and that as the plantations are developed, even more water will be diverted...
(AFP (eng) 02/15/17)
Sub-Saharan Africa, where more than a half billion people live without electricity, trails the world in government policies that promote sustainable energy, according to a new World Bank report Wednesday. Much of the rest of the world, however, has made strides toward making energy broadly available, developing renewable power sources and increasing efficiency, the inaugural Regulatory Indicators for Sustainable Energy report said. In a survey of 111 countries, the World Bank found that through 2015 nearly 80 percent had begun...
(Standard Digital 02/09/17)
Hundreds of business and political personalities yesterday attended a German-African economic summit in Nairobi, where German Minister for Economic Cooperation and Development Gerd Mueller talked about his “Marshall Plan” for Africa. The plan is “with Africa, not for Africa,” Mueller (pictured) said, stressing that it would be based on cooperation between equals rather than the principles of traditional development aid. The plan, which Mueller presented to the German parliament’s development committee on Wednesday, is based on fair trade conditions, investment...
(Xinhuanet 02/08/17)
Ethiopia's parliament on Tuesday approved a 250-million-U.S.-dollar loan agreement made with China's Export-Import (Exim) Bank to finance major infrastructure construction in the country. The loan agreement, already approved by the Ethiopian House of Peoples' Representatives, the lower house, would finance supply and construction of 400-kv power transmission projects of Genale Dawa III-Yirgalem II-Wolayita Sodo II-Hawassa II in the southern part of Ethiopia. The agreement, signed in December in China, is composed of two major parts: 195 million dollars for building the transmission line and the remaining about 54 million dollars for undertaking major substation parts of the project.

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