Archive for July, 2010

World Bank Boosts Support for Poverty Reduction and Power Access in Djibouti

(HornTrade) -  Efforts by the Government of Djibouti to accelerate poverty reduction in the poorest areas of its capital and to expand access to electricity for poor people received further support from the World Bank on July 28 with additional grant financing of $8.9 million.
“The Republic of Djibouti and the World Bank signed additional financing agreements for the Power Access and Diversification Project (US$6.00 million) and Djibouti’s Urban Poverty Reduction Project (US$ 2.9 million). Ambassador Robleh Olhaye Oudine, representing the Government of Djibouti, and Read the rest of this entry »

COMESA Yellow Card: A Reliable System of Insurance

(HornTrade) – Founded in 1986, the COMESA Yellow Card is a regional system of auto insurance covering all member countries. The insurance risk is still relevant. Both the strategic importance of cross-border transport and the volume of heavy truck movements pose the challenge of balancing the flow and safety of traffic on the international corridor.

Border trade occupies an increasingly prominent place in the national economy. For the port of Djibouti became the natural outlet of Ethiopia in recent years. Result: transit operations are a large component of port operations in the country. Transit Ethiopia amounted to 77.4% of traffic from the port of Djibouti in 2009. And the movements of Ethiopian trucks totaled 206,842 trips during the past year. Read the rest of this entry »

Djibouti Container Terminal Doraleh(DCT): Horn of Africa, a new service for Maersk Line

(HornTrade) – Beginning at the Port of Tanjung Pelepas Malaysia and making a maiden voyage to commemorate the opening of a new service called “Horn of Africa (Horn of Africa), Maersk Line, the container ship Maersk docked Tuesday  at the Container Terminal Doraleh.

From the port of Jebel Ali in Dubai, the behemoth has unloaded some 328 containers at Container Terminal at the Port of Djibouti, to pick up remaining 305 before weighing anchor on the same day for Jeddah in Saudi Arabia. Read the rest of this entry »

European Bank halts financing Ethiopia’s controversial power project

(HornTrade) — As protests from various green campaigners grew to stop the Gibe III hydroelectric dam project in Ethiopia, the European Investment Bank (EIB) said it has dropped the funding environmental and social impact studies for the project.

However, the European Bank said – it stopped funding the studies due to the alternative financing and not because of the “results of these preliminary studies”.
Read the rest of this entry »

East Africa in drive to develop neglected drylands

(HornTrade) - A broad initiative to develop East Africa’s drylands — where living conditions are among the toughest on the planet — was launched Friday by renowned US economist Jeffrey Sachs and regional bodies.

“Under the Drylands Initiative, thousands of pastoralists who have historically been neglected will benefit from animal production, infrastructure, health, education, and business projects,” said a statement. Read the rest of this entry »

Uganda remains best investment destination in East African region

(HornTrade) – The World Investment Report has again ranked Uganda the leading investment destination in East Africa for the fourth year running. The WIR report prepared by the United Nations Conference on Trade and Development (UNCTAD) simultaneously released globally; indicated that in the year 2009, Uganda’s Foreign Direct Investment was $799 million (Shs1.79 trillion) up from the $787 million (Shs1.45 trillion) recorded the previous year. Read the rest of this entry »

KOICA (Korea) to Bring Solar Power to Developing Nations

(HornTrade) – Korea International Cooperation Agency (KOICA) has begun its assistance of solar photovoltaic (PV) projects in the developing nations of Mongolia, Bangladesh, Ethiopia and Djibouti.
The official in KOICA’s climate change division revealed in late June that Daegu City Gas, Daesung Global Network, Green Asia, Dongshin Engineering & Consultants had concluded two-year contracts with Bangladesh, Ethiopia, Mongolia and Djibouti. “The PV project will take off from Ethiopia and Mongolia by the second half of this year at the earliest and proceed gradually to other countries.” Read the rest of this entry »

Ethiopia power exports to Sudan, Djibouti and Kenya – Officials

(HornTrade) — Ethiopia says it will begin selling hydropower-generated electricity to neighboring Sudan starting next September drawing the East African nation closer to its dream of exporting electricity across the region.
According to Ethiopian Electric and Power Corporation (EEPCo) officials, some three power plants including Gilgel Gibe II, which is under repair after tunnel collapse in January, are expected to run in full capacity at the end of the current rainy season.
Read the rest of this entry »

Eassy to go live on Friday

(HornTrade) – The Eassy fibre optic cable will go live on Friday, marking the completion of its construction, which started in Maputo, Mozambique in December 2009.

Eassy is the third fibre optic cable in Kenya, with Teams and Seacom optic cables having been completed last year.

The cable will be formally handed over to the West Indian Ocean Cable Company (WIOCC) board by the Alcatel sub-marine networks, who were the sub-contractors, on Wednesday next week in Nairobi. Read the rest of this entry »

Africa Oil to raise up to C$20 mln in private placement

(Reuters) – Canadian oil and gas company Africa Oil Corp said it would raise up to C$20 million through a private placement of its common shares, partly to fund its exploration projects in East Africa.

The company, which has oil and gas interests in Somalia, Ethiopia and Kenya, said it will sell up to 20 million common shares at C$1 apiece.
Read the rest of this entry »