East Africa: Kenya’s Big Oil Find – Things Will Never Be the Same Again

(Horntrade) – Ever since independence, Kenya has been looking wistfully around Africa at the vast natural resources which have blessed (or cursed) so many African countries.

There was no gold in Kenya, no oil, no platinum or tanzanite or diamonds, and few other minerals. Plenty of tea and coffee, and a landscape and history with an inexorable pull on tourists, but none of these were huge, easy money-spinners.

Despite (or perhaps because of) this, Kenya turned itself into one of the strongest economies in Africa, indisputably East Africa’s economic powerhouse. Read the rest of this entry »

Ethiopia sells off seven state firms, to offer more

(HornTrade) -  * Eyes privatisation of another 40 firms

* Rules out airlines, telecoms and banks

Ethiopia has accepted bids worth 2.1 billion birr ($121 million) for seven state-owned firms, part of a plan to privatise dozens of corporations in the next three years, it said on Thursday.

The Horn of Africa nation, whose state-dominated economy ranks among the fastest growing in the world, aims to sell around 40 enterprises, including several large farms, a winery and a big hotel. Read the rest of this entry »

East Africa: Region Advised to Share Oil Infrastructure

(Horntrade) – East African countries have been urged to design common oil and gas infrastructure to take advantage of economies of scale and avoid wasteful duplication of facilities.

Industry players at this week’s Oil, Gas and Energy Week in Nairobi said individually the countries are too small to economically justify putting up certain petroleum infrastructure. Because of oil and gas finds in the region, global energy players are calling Eastern Africa the new frontier for petroleum exploration with production expected to come on stream in the next few years. Read the rest of this entry »

Djibouti: Connect to Learn expands in collaboration with Ericsson

(HornTrade) – Djibouti Telecom signed Thursday with Mr. Anders B. Lindblad, Head of the Middle East Telecommunications Company Swedish Ericsson, a memorandum of understanding providing students and schoolchildren in Djibouti, through the program “Connect to Learn”, access to quality education using the technology of the information and Communication Technology (ICT).

Five high schools, two technical schools, will benefit initially from this innovative program which must be spread over two years.
Read the rest of this entry »

Ethiopia and Djibouti gold exploration produces promising results

(HornTrade) – Exploration drilling activities at development mining company Stratex International’s East African tenements are indicating significant widths of low-grade gold mineralisation.

The company is currently active on a number of sites in Turkey, Ethiopia and Djibouti, and is focusing on the development of its assets in East and West Africa, and, in particular, its Blackrock gold project, in Ethiopia. Read the rest of this entry »

Djibouti: DT signs accord with Level 3 for internet services

(HornTrade) – Djibouti’s national fixed and mobile operator Djibouti Telecom (DT) has reportedly signed an accord with US-based broadband services provider Level 3 Communications to provide ‘an internet network’ in the country. The move forms part of a plan to make the Horn of Africa nation an ‘indispensable hub of telecommunications in the region,’ its managing director Abdurahman Mohamed Hassan told reporters on Monday. No further details are available at this time. Read the rest of this entry »

Ethio-Sudan transmission line completed

(HornTrade) – The Ethiopian Electric Power Corporation (EEPCo) has completed the construction of a power transmission line that connects the Ethiopian power grid to Sudan.

The 296km long, 230kV line, will enable Ethiopia to export 100MW of electricity to Sudan, making Khartoum the second beneficiary after Djibouti which imports 35MW of electricity. By 2016, Ethiopia will also export 400MW of power to Kenya. Read the rest of this entry »

Billion-barrel oil field draws Canadian company to Somalian desert

(HornTrade) – Lots of crude is a major incentive, but al-Qaeda presence a serious drawback in Puntland.

The prospect of plentiful crude oil has lured one Canadian company to northern Somalia’s hard-to-reach desert—and al-Qaeda isn’t happy about it. Bloomberg reported that Vancouver-based Africa Oil Corp.

plans to invest $50 million to drill two wells in northern Somalia’s semi-autonomous Puntland region, which is home to the al-Qaeda-linked al-Shabaab militia. The first well, to be completed in March, will be the first drilled in Somalia in more than 20 years. Read the rest of this entry »

South Sudan Oil Transit to Resume, Lamu Project will continue

(HornTrade) – The South Sudan Chief Negotiator to Addis Ababa talks and Secretary General of the Sudan People Liberation Movement (SPLM) Mr. Pagan Amum last week in a press conference held at the SPLM Southern Sector have disclosed that they reached two agreements with Sudan Government. “We have agreed on border demarcation and rights of residence for the citizens of the two states but the oil negotiation were touched” Amum continued.

He said that even when South Sudan resume oil transit through Sudan port, still the project of building new pipeline through the port of the Kenya and Djibouti will continue. Read the rest of this entry »

Djibouti Port to invite bids for Doraleh Container Terminal expansion

(HornTrade) – $300 million project will double Doraleh’s capacity to 3 million TEU

The Port of Djibouti, a major port in the Gulf of Aden, will look to invite bids for the expansion of the Doraleh Container Terminal, partly-owned by DP World, in the fourth quarter, according to the Port and Free Zone Authority.

The terminal’s annual capacity will be doubled to around 3 million TEU following the completion of a US$300 million development project in 2015, Aboubaker Omar Hadi, chief executive officer of the authority, told Bloomberg. Read the rest of this entry »