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.
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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.
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Port of Djibouti maintains its progress according to the latest Economic Bulletin (IBE)

(HornTrade) – The last newsletter published quarterly by the Economic Department under the Ministry of Finance reports that the International Port of Djibouti, contrary to popular belief, has maintained his progress over the years.

According to IBE, the port has performed well with growth of 25.33% as incoming.

The port reported as 10,101,128 tons landed in 2009 against 8,059,273 tonnes in 2008.

The dry cargo imports totaled 7,831, 854 tons in 2009, representing an annual increase of 35.63%. Read the rest of this entry »

Ethiopia: Expansion of the Electric Power Service in Jijjiga and Degehabur Towns

(HornTrade) - Ethiopia and OPEC Fund for International Development (OFID) signed a loan agreement amounting to 20 million USD.

According to a press release the Ministry of Foreign Affairs sent to WIC, the agreement was signed in Vienna, Austria on 6 July 2010.

The fund will be utilized to expand electric power service in Jijjiga and Degehabur towns. Read the rest of this entry »

Petronas May Begin Ethiopian Gas Exports in 2015

(HornTrade) – Petroliam Nasional Bhd., Malaysia’s state-owned oil company, may begin exporting natural gas from Ethiopia in five years, when production starts at a plant it is building in the country, a Mines Ministry official said.

Fields being developed by Petronas in Ethiopia contain as much as 4 trillion cubic feet of gas, Eshetu Chala, senior economist at the Addis Ababa-based ministry, said in an interview yesterday in Kampala, Uganda. Annual production figures have yet to be determined, he said.
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Stratex: Gold opportunities in Ethiopia and Djibouti in the Horn of Africa

(HornTrade) – Gold and base metals play Stratex International awaits potentially encouraging drilling results from Turkey and sees possibly much larger rewards in Ethiopia.

Steered by chief executive officer Bob Foster, Stratex, which expects its first production from Turkey in late 2011, has also positioned itself to exploit what it argues are long-neglected gold opportunities in Ethiopia and Djibouti in the Horn of Africa, a region now attracting growing mining interest. Chip samples from one prospect, Magenta, have shown low-grade intersections of 0.1 to 0.5 grammes of gold per tonne of ore, though one 0.6 metre sample shows 16.75 grammes a tonne. Read the rest of this entry »

Travel and Tourism – Djibouti

(HornTrade) – Djibouti’s growing reputation is becoming internationally recognised. The country is gaining particular attention for its free trade zone, which is located in one of the world’s busiest sea lanes. The country enjoys full stability and security in contrast to the current adverse security conditions currently being experienced in other African countries. Djibouti benefits from a strategic location which enables the country to act as a bridge between Africa, Europe and the Middle East. The country… Read the rest of this entry »

Djibouti one of the countries which has the more indirect taxes

(HornTrade) – The African Economic Outlook report, officially launched in Addis Ababa, the Ethiopian capital, Monday, showed countries without minerals and oil were more effective in tax collection.

However, the expansion of the tax systems remains subjects to changes in the international markets such as the recent economic downturn.

‘In these countries, it is the more politically demanding types of taxes – personal and corporate income taxes together with value-added Tax – that have been driving the slow increase in tax shares,’ the report said. Read the rest of this entry »