Archive for April, 2010

The Russian giant GAZPROM moved to Djibouti

As part of its diversification strategy and deployment of its international business, the Russian gas giant GAZPROM just moved to Djibouti.

The company is a giant Gazprom energy, her everything is superlative: more than 400,000 employees, the largest company in Russia, the third market capitalization, the largest exporter of gas in the world. Gazprom owns the largest pipeline network in the world (155,000 km), and holds positions in banks, insurance, media, construction and agriculture.
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Economic Recovery for Africa?

The news today brings us two optimistic articles on the African economy. Businessweek reports that “Inflation is slowing across sub- Saharan Africa’s leading economies as bumper crops and stronger currencies help curb prices, enabling South Africa, Nigeria, Kenya and Ghana to extend interest rate cuts into this year.” A new African Development Bank report states that “with a projected overall growth rate of more than four per cent this year and a gross domestic product of just under $1.5 trillion, the continent’s growth is promising.” Read the rest of this entry »

Djibouti Backs off from Proposed Operation Monopoly at Doraleh

The government of Djibouti backed off, last week, from its plans to grant exclusive rights to a private consortium, which would have undertaken the operation of container stuffing and unstuffing inside its own premises, sources disclosed to Fortune.

Spearheaded by a logistic firm, Maersk Djibouti Container Freight Station (MDCFS), these operations were given to this consortium, which opened a specially designated location known in Djibouti as PK 12. This is an area on the outskirts of Djibouti Town, a couple of kilometres from the Doraleh Port. This stirred an uproar in Djibouti and Ethiopia among forwarding companies and led to hundreds of trucks stranded inside the port. Read the rest of this entry »

Feasibility study a second port in Lamu

A Japanese company has won a Government tender to carry out a feasibility study on the proposed construction of a second port in Lamu, which maritime experts hope will position the country as a major transhipment hub.

The company – Japan Port Consultants — is expected to finish negotiations with the government this week to begin the study expected to take about 10 months, according to Transport ministry chief economist and head of planning, Mr Alfred Kitolo. Read the rest of this entry »

Tanzania’s Exim Bank to open branches in Djibouti

The central bank [BoT] has allowed Exim Bank Tanzania to open more subsidiaries outside the country as part of the latter’s expansion plan that will be in Djibouti and Zambia, managing director Sabetha Mwambenja said yesterday in Dar es Salaam.

She made the revelations when announcing the bank’s last year performance, which included an increase of 20.14 per cent of total assets to Sh584 billion from Sh486 billion in 2008. Read the rest of this entry »