DP World in $330m Africa plan

(Horntrade) – DP World and the government of Djibouti plan to spend US$330 million (Dh1.21 billion) tripling the size of a port and buying more handling equipment.

The expansion will take Doraleh Container Terminal’s capacity from an estimated 800,000 containers this year to 3 million by 2014, Aboubaker Omar Hadi, the chairman of Djibouti’s Ports and Free Zones Authority, said yesterday. Read the rest of this entry »

Ethio-Djibouti electric power interconnection project inaugurated

(HornTrade) – The 283km long Ethio-Djibouti electric power transmission project inaugurated on Wednesday.

The 230-kV power transmission line would enable Djibouti to import 35-megawatt of electricity from Ethiopia. Ethiopia in return would obtain up to $1.5 million a month from the power export. Read the rest of this entry »

Ethiopia and Djibouti to Sign Electricity Export Agreement this Week

(Horntrade) – A high-level delegation from the government and the Ethiopian Electric Power Corporation (EEPCO) is expected to travel to Djibiouti to sign an agreement on Wednesday, October 5, 2011 that will make electricity export to Djibiouti, operating on a trial basis for the past few months, official and binding.

Ethiopia has been exporting electricity to Djibouti since the end of May, charging 70 dollar cents for a kilowatt hour (KWh). Ethiopia has been exporting 100GWh with the aim to supply uninterrupted 200mw to Djibouti. Read the rest of this entry »

Djibouti: Mineral Industry Overview

(HornTrade) – In 2009, the small East African country of Djibouti was a producer of perlite, salt, and such construction materials as basalt (table 1). Djibouti’s production and consumption of minerals were not globally significant.

Production

Salt production started on a semi-industrial scale at Lake Assal in 1998. Production increased from 2004 to 2008 because of the resumption of demand from Ethiopia. Production had nearly ceased in 2004 because of a 53% tariff that Ethiopia imposed in October 2003 on salt imports from Djibouti. Perlite mining started in 2009. Read the rest of this entry »

Ethiopia Sells Bonds to Finance Africa’s Biggest Power Plant

(HornTrade) – Sept. 29 (Bloomberg) — Ethiopia plans to offer more bonds to finance Africa’s biggest power plant after selling 7 billion birr ($408 million) of debt domestically over the past six months, Communications Minister Bereket Simon said.

The sale will contribute to the 80 billion birr needed to finish the 5,250-megawatt Grand Ethiopian Renaissance Dam on the Blue Nile River, Bereket said in an interview on Sept. 27. The country isn’t raising funds from foreigners in a bid to demonstrate its economic resurgence, he said. Read the rest of this entry »

Stratex International Acquires 49.9% Shareholding in Rift Resources to Provide Exposure to Ethiopian Potash

(HornTrade) – Stratex International plc, the AIM-quoted exploration and development company focussed on gold and base metals in Turkey and East Africa, announces it has acquired a 49.9% holding in newly-formed potash-focused exploration company Rift Resources plc (‘Rift Resources’) after ongoing exploration in the Afar region of Ethiopia has highlighted the prospectivity for the commodity.

Highlights

·        New 500 sq kmpotash licence in the prospective Afar region of Ethiopia – licence to be assigned to newly-formed company Rift Resources

·        Rift Resources aims to increase its exposure to potash and other industrial minerals in Ethiopia and the wider region with a view to listing in due course Read the rest of this entry »

Djibouti is getting its first 3G wireless network

(HornTrade) – Djibouti Telecom has partnered with Ericsson to enhance its 2G network and introduce a 3G network. The carrier will be able to offer mobile broadband services.

DT will introduce advanced roaming capabilities and automatic device configuration (ADC), which is a complete solution for automatic mobile device management within Djibouti Telecom’s mobile network. Also new are ring-back tones.

“We have grown rapidly as a company and in order to maintain the momentum and build on it we have chosen Ericsson as a partner to assist us in improving our services,” said Abdourahman Mohamed Hassan, CEO of DT. “We are proud to be the first to bring 3G connectivity and mobile broadband services to the country and with the help of Ericsson’s technology and capabilities we can ensure that this will significantly enhance the experience for our customers.” Read the rest of this entry »

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 »