Archive for August, 2009

China makes inroads into East Africa, gets road contract without bids

ADDIS ABABA – China continues to make inroads into Africa, as it bagged yet another major order for building an 80-km expressway in Ethiopia. The order was given without any bidding as the construction of the six-lane expressway would be financed through a Chinese soft loan worth over $700 million.

China’s state infrastructure major, China Road and Bridge Corporation (CRBC), has signed an agreement to construct a new expressway connecting Ethiopia’s capital to another city in the centre of the country, Nazreth. Read the rest of this entry »

Ethiopia: Sky Bus imports more buses

Addis Ababa, Ethiopia (The Reporter) — Sky Bus S.C., the first modern public transport company, this week imported six modern buses. The 45-seat buses cost more than two million birr each.

In January this year, Sky Bus launched public transport services to six major regional towns — Bahir Dar, Gondar, Harrar, Dire Dawa, Awassa and Jimma. Read the rest of this entry »

Kenya to build Africa’s biggest windfarm

A 300 megawatt windfarm, coined the Lake Turkana Wind Power Project, is being developed in Kenya. A total of 365 wind turbines are slated for installation.

To date, only North African countries such as Morocco, Tunisia and Egypt have harnessed wind power for commercial purposes on any meaningful scale on the continent.
Read the rest of this entry »

Chalice to Complete African Gold Merger, Steps Up Exploration at Zara Gold Project

Chalice Gold Mines Limited (ASX: CHN; “Chalice”) will open a fresh chapter in its history as an African-focused gold exploration and development company this week following receipt of final Court approval of its merger with fellow Perth-based junior, Sub Sahara Resources.

The merger will now be implemented by the issue of Chalice shares to Sub-Sahara shareholders and is scheduled to be fully completed by 2 September 2009 following the de-listing of Sub-Sahara shares from ASX on 14 August 2009. Read the rest of this entry »

Djibouti to increase salt output

Salt production expected to significantly rise by June 2010 in the East African country

Salt Investment SA’s new salt plant in Djibouti, eastern Africa, is expected to start production by June 2010.

Salt Investment is at present building a plant in Lake Assal, between the cities of Tadjoura and Yoboki, and is looking to export.

Italian firm Sace buys African Trade Insurance Agency for $10m

ATI has its head office in Kenya and its current members are Burundi, the Democratic Republic of Congo, Djibouti, Eritrea, Kenya, Madagascar, Malawi, Rwanda, Tanzania, Uganda and Zambia..

Sace’s investment will support ATI in fostering sustainable growth in Africa and ATI will strengthen Sace’s support for Italian ?exporters and investors.

Sace COO Raoul Ascari says the investment is “another step forward” in bolstering the company’s presence in sub-Saharan Africa. Read the rest of this entry »

DP World Doraleh achieves stringent ISO 28000: 2007 security certification

Lloyd’s Register has certified DP World Doraleh fully compliant with the stringent ISO 28000: 2007 security standard.

DP World delivers throughput of more than 20 million TEU for first half of 2009 Jebel Ali announces installation of next-generation security system DP World to open new terminal in Vietnam October 1, 2009
DP World extends commitment to Port Botany with 15-year leaseJebel Ali voted Best Seaport and Container Terminal at 2009 Mela Awards Read the rest of this entry »

Ethiopian Telecommunications Corporation gets record profits

Addis Ababa, August 11, 2009 — The Ethiopian Telecommunication Corporation (ETC) has amassed a huge gross profit of 3.5 billion Br, a whopping 62.5pc of its gross revenue, of nearly 5.7 billion Br. The monopolistic corporation has not only milked more money out of its existing clients, the previous fiscal year has seen the number of new clients grow by 2.3 million, according to a report it released.

The increase occurred across all categories. Its operational and administrative expenses for the year were 2.11 billion Br, according to the report, which accorded it a net income after tax of 2.4 billion Br.

There are still more land line customers but mobile phones are gaining rapidly. Fixed lines have approximately 900 million subscribers while mobile phones have a little over four million. Rural radio transmitters are still in use by some customers, approximately 14,000 still use the service.

The company’s client base has grown by 80pc during the previous fiscal year.

ETC has enjoyed a leap in the number of users to its various services. Mobile phone users have passed the four million mark. The Code Device Multiple Access-Wireless Local Loop (CDMA-WLL) and mobile users both recorded 108pc growth passing the 70,000 and four million mark, respectively. It has enjoyed lower, but still significant, growths in multi-media and rural communication clients, and international roaming partners, as well as in the coverage of school-net, woreda-net, agri-net.

The corporation says that it has boosted internet capacity by 155mbps through microwave connection to Djibouti and by the same amount through fibre optic connection to Sudan. It also says that it has made reductions in the rate it charged for internet, mobile GSM and fixed broadband internet services, although that was far from making a dent on its mammoth profit.

ETC is continuing the expansion of its services at its own pace in the monopolized Ethiopian market. It has reported that nine projects of its Next Generation Networking (NGN) would be completed and ready for use by January 2010. These projects began in September 2008-09 with an outlay of 1.5 billion Br paid out of its own coffers. These projects include GSM mobile, CDMA-WLL, optical fibre transmission, and next generation call centres, which are at various levels of completion.

The first part of the GSM project has enabled the creation of a core network that can handle 5.6 million customers and stations that can handle 2.3 million customers. The second and third phases will bring into the fold additional 2.7 million customers in 749 towns. The first and second phases of the optical fibre transmission project will install nearly 11,000Km of fibre and the third phase will link them to international lines.

ETC plans to cover 90pc of the country with its services using the NGN projects. “These turn-key projects are supervised by the Corporation supported by the consultancy of Chinese telecom experts to provide world-class telecommunications service” Abdurahim Ahmed, corporate communications head of ETC.

ETC has prided itself on excellence for having topped its performances in earlier years. It holds that it is contributing significantly to turning Ethiopia into a middle income country over the next 20 years.

Source: Addis Fortune

Flydubai to start Djibouti service from Sept 1

Flydubai, Dubai’s first low cost airline, is set to expand its network in Africa with the announcement of flights to Djibouti from September 1.

The new service will operate three times a week, on Tuesdays, Thursdays and Sundays. Read the rest of this entry »

AfDB sees commitments almost doubling to $11bn

5th August 2009

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The African Development Bank (AfDB) has seen its commitments almost double since last year due to the global financial crisis, the head of the bank, Donald Kaberuka, said on Wednesday.

The bank expects to loan some $11-billion this year from $5,8-billion previously, he said.

“This is in budget support operations, infrastructure projects, trade finance and liquidity programmes,” he said.

Kaberuka gave the example of Botswana, which has long been one of Africa’s best performing economies, but has had to borrow from the bank to mitigate against the crisis. Read the rest of this entry »