Archive for November, 2010

Ethiopia: Rail on the Way

(HornTrade) – The Ethiopian Railway Corporation (ERC) has given the 18 companies, which have won the bid for the design, survey, and supervision of four railway tracks, five months to deliver the first two.

Projected to cost around 180 million Br, the design of a total of 1,833.6km of railway was awarded to 18 companies at the end of September 2010. Consultants of Category III and above were approached by ERC months ago to express interest for the projects which comprise a total of 18 lots.

Those which had shown interest were evaluated on its similar experience over the past 10 years, professional staff, annual turnover of the last five years, and available facilities. Read the rest of this entry »

Djibouti: A new paradise for banks

(HornTrade) – The number of banks is growing. But BCI-MR still retains 60% market share. After opening in Djibouti in October, a subsidiary of the Warka Bank for Investment and Finance of Iraq, a private bank based in Tanzania is the Exim Bank (Djibouti), while the Central Bank of Djibouti negotiates the arrival of a Russian institution. The banking market seems quite limited and busy to handle such an influx of banks. Thus, the Exim Bank (Djibouti) can not be expected to take large market share. Because even if Tanzania and Djibouti are part of the Common Market for Eastern & Southern Africa (Comesa), the two countries have very little trade between them. Read the rest of this entry »

Africa-China:Once again, Africa is in love

(HornTrade)- Recently, the Chinese government own companies has been tapping the African markets and swindling their natural resources. While, they are promising the Africans so much here and there just like any super-power before them: the Soviet Union, the U.S. and Europe.

Yet a lot of African Politicians and some Scholars are still excited and satisfied – simply, China is building Soccer or football Stadiums, Convention Centers and Theatres for the African countries; instead of assisting them build science and technology schools, their energy-dams, modernizing their agricultures, and restoring their dead factories. Read the rest of this entry »

Ethiopia: First Wind Power Plant

(HornTrade) – The first wind turbine of the first wind farm project in Ethiopia has been erected in Ashegoda, some thirty kilometer from Mekelle, the capital city of the Tigray Regional State.

The 120 megawatt of wind energy is scheduled to be completed in February 2013, and the first phase of the wind farm, which is 30 megawatt, is expected to be completed by June 2011.

The wind farm is contracted to Vergnet Groupe by the Ethiopian Electric Power Corporation (EEPCo) and financed by the French bank BNP Paribas through soft loan. The loan of approximately 210 million euro was facilitated by the Agence France de Development. Read the rest of this entry »

Djibouti: SCINET installed in the African port of Djibouti, an assembly of mini-plants in containers

(HornTrade) – Through the agreement with Factoring & Management, SCINET install the new plant near the port’s container terminal in Djibouti is located in a strategic zone between the Red Sea and Gulf of Aden. The plant will assemble mini-plants in the models of basic necessities such as water purification and desalination of water, dry food, egg production, clothing, footwear, steel nail production, tire retreading, Sheeting for Roofing, ceilings and walls, Injected Polypropylene Housewares, Pressed Melamine Items (Glasses, plates, cups, spoons), plastic bags and packaging, dairy products, natural rubber latex products, etc.
Read the rest of this entry »

Kenya: Ports Authority moves to decongest Mombasa port

(HornTrade) – The Kenya Ports Authority (KPA) will be constructing a new berth as a measure of minimizing delays at the port of Mombasa.

According to the corporate development manager Mwanamaka Mabruki the current berths numbers 16, 17 and 18 can not handle more than 2 ships at a go as modern ships are bigger and wider.

To further ease congestion a new dry port will be constructed in Voi where the corporation owns in excess of 100 acres to cater to containers and car shipments.

According to managing director Ndiwa Muli the 3-hour distance from Mombasa to Voi will form the nucleus for the special economic zones situated along the Mombasa – Nairobi highway. Read the rest of this entry »

Kenya: South African Firms Invade Internet Market

(HornTrade) – Will MTN finally set up as a mobile service operator in Kenya after several years of failed attempts?

That’s the million-dollar question after the data unit of South Africa’s biggest mobile operator took control of a local internet service provider, UUNET, by buying a majority stake. The firm has since rebranded to MTN Business Kenya, to reflect its principal shareholders.

The MTN management said the mobile business was not in its initial plan, but did not rule out the possibility. “I’m not aware of such plans,” said Ms Angela Gahagan, the managing executive of MTN Business Africa, when they official unveiled the company’s brand in Nairobi. “However, the group is always looking for opportunities for growth.” Read the rest of this entry »

Ethiopia: Top ten importers of Ethiopian goods

(HornTrade) – Sudan is the second highest African importer of Ethiopian products says the country’s export performance report for 2009/2010 has indicated.

Despite long–running conflict and political unrest, Somalia –another neighbour of Ethiopia – is leading importer of on the continent.

Over the 2009/2010 financial year, Somalia imported goods worth $172 million, while Sudan follows, buying $115 million of mainly agricultural products from Ethiopia.

The new report released by Access Capital, a local firm engaged in research and various investment activities in the country revealed that the destination of Ethiopia’s exports has seen a ‘rapid shift’, with some long-standing markets being replaced by unexpected new destinations. Read the rest of this entry »