The European Union has earmarked 15 Million Euros to Support Uganda’s beef sector. The money is meant to finance the development of market oriented and environmentally sustainable beef industry in Uganda. The money will be channeled through the Ministry of Agriculture Animal Industry and Fisheries to finance a five year beef project whose objective is […]
Category: East Africa News
New Lipa Na M-PESA Cash Back Promotion launched
Safaricom launched a new customer reward campaign dubbed Lipa Na M-PESA Cash Back Promotion on Monday. The promotion is set to boost the usage of the Lipa Na M-PESA for retail purchases and will run for the next two months. Customers who will meet their weekly target will receive monetary amounts ranging from Ksh 5 […]
Djibouti’s Ports heavily reliant on Ethiopia
When Djibouti makes international headlines, it is usually in connection with the many superpowers that have built military bases on its shore. France, the United States, China, Italy and Japan all have a major military presence in the tiny East African nation. But for Djibouti’s government, there is another major power that is even more […]
Ethiopian Airlines expands to Argentina
Ethiopian Airlines launched its inaugural trip from Addis Ababa to Buenos Aires, Argentina, on Wednesday with an all-female crew. The flag carrier will fly five times a week between the two capitals. The Buenos Aires route increases the airline’s destinations in the Americas to six. Ethiopian flies to Washington, New York, and Los Angeles in […]
Ethiopia building transport hub using its airline and expansive road network
Ethiopia, with its outstanding airlines, Ethiopian, Ethio-Djibouti railroad and other trans-boundary roads, is becoming transport hub of Africa. Being home to various international and regional organizations, the country has positioned itself as a strategic destination [point] in the map of world transportation service. And the Ethiopian is also aspiring to be the leading airlines in […]
Kenya: Increase in hotel bed space outstrips demand
Nairobi hotels recorded their lowest occupancy in a rating of 14 African cities last year as new establishments boosted Kenya’s total bed space even as the number of tourists arrivals rose compared to the previous year, according to industry researcher HTI Consulting. Nairobi’s occupancy performance was the weakest of the 14 cities assessed with a […]
South African giant, Shoprite swoops in as Kenyan retailers falter
South Africa’s retail chain, Shoprite Holdings, plans to take advantage of disarray in Kenya’s grocery sector to open its first stores in the major East African market this year. Two of Kenya’s three top retailers – Uchumi Supermarkets and former regional giant, Nakumatt – are failing, opening the door to chains such as Shoprite and […]
Rwanda’s trade deficit reduced by improved mineral exports
Rwanda’s trade deficit reduced by 21.7 per cent in 2017 due to improved international prices that boosted revenues collected from the country’s exports. This represents a fall in Rwanda’s negative balance from $1.6 billion in 2016 to $1.27 billion in 2017. This is according to the Monetary and Police Policy and Financial Stability report launched […]
Demand for Tanzania’s T-Bills increases as interest rates rise
Tanzania has seen higher appetite for government securities, with the Treasury bills auction held last week recording oversubscription. The Bank of Tanzania had offered Tsh170 billion ($75.173 million) in T-bills, comprising Tsh169 billion ($74.731 million) on the competitive window and Tsh1 billion ($440,000) as non-competitive. The 35-day paper received bids worth Tsh1 billion ($440,000); the […]
Eurobond prospectus lays bare Kenya’s debt problems
Kenya could spend more than 80 per cent — $1.6 billion — of the proceeds of its $2 billion Eurobond issued three weeks ago to retire syndicated loans contracted in the past two years. This puts the country in a vicious cycle of rolling over external debt by using new loans to retire maturing ones. […]