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.
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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 »

Djibouti: Djibouti banks would like to rate the Ethiopian birr

(Horntrade) – The banking center of Djibouti would like to contribute more substantially to the international trade of Ethiopia. But unlike the Djibouti franc, fully convertible and pegged to the dollar, the Ethiopian birr is highly regulated. Djibouti has a solution.

At the initiative of BICMR (Bank of Industry and Commerce Red Sea), a discussion was opened up recently between the Bank of Djibouti and the Central Bank of Ethiopia in order to remove the obstacles faced by traders in the transfer of cons-dollar values of their holdings in Birr. These barriers are a major hindrance to the development of regional trade.
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Africa: Air France is Increasing the Number of Flights

(HornTrade) – In Africa, Air France is adding a new destination to its network. Bata, in Equatorial Guinea, will be served twice weekly via Malabo by A319 Dedicate (subject to infrastructure compatibility), and there will be daily flights to Malabo.

Air France is increasing the number of flights to Pointe Noire in the Republic of Congo (5 weekly flights) and to Libreville (5 weekly frequencies subject to authorization from the Gabonese authorities).  Read the rest of this entry »

Djibouti: Djibouti Telecom teams up with Telecom Italia Sparkle for IP POP

(HornTrade) – Fixed line operator Djibouti Telecom and Telecom Italia Sparkle, the international wholesale arm of Telecom Italia, yesterday announced their top-tier IP Point of Presence (POP) is now available in the capital, Djibouti City. The new POP has been established for the development of IP services in East and South Africa. The pair hope to use the new link to provide cost effective, high quality and secure global IP connectivity to TLC operators, ISPs and service providers that are connected to Djibouti through existing and upcoming cable systems such as Read the rest of this entry »

Africa’s young business leaders to meet in Ethiopia

(HornTrade) – Africa’s emerging leaders in business will converge next month in the Ethiopian capital to discuss investment opportunities and challenges facing the continent in global trade.

The meeting, first of its kind, will be held in Addis Ababa and will be attended by approximately 200 young businessmen and women.

Some of the young business leaders expected at the invitation-only meeting are Kenya’s Titus Gitau, Director of MEA Fertilizers, Arthur Mutambara, Deputy Prime Minister of Zimbabwe; Khumo Shuenyane, Head of M&A for MTN, the cellular giant; Ngozi Edozien, Head of West Africa at Actis, one of the largest Private Equity firms in Africa, Amara Konneh, Minister for Planning and Economic Affairs (Liberia) and Alex Okosi, Head of MTV Africa. Read the rest of this entry »

France-Ethiopia: Ethiopian, AFD sign 30 mln euro loan agreement

(HornTrade) - The Ethiopian Airlines and the Agence Francaise de Development (AFD) signed a loan agreement of 30 million euro at the Ethiopian Airlines Headquarters on Friday.

The agreement is aimed at financing the expansion and upgrading of Ethiopian Airlines training academy with the state-of the-art infrastructure and facilities. The agreement covers a 15 year term loan, part of which is confessional.

Tewolde Gebre Mariam, Designate Chief Executive Officer (CEO) of the airlines and Didier Grebert, AFD Regional Manager for Ethiopia, Sudan and Somalia signed the agreement.
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