Posts Tagged ‘Djibouti’

Uganda remains best investment destination in East African region

(HornTrade) – The World Investment Report has again ranked Uganda the leading investment destination in East Africa for the fourth year running. The WIR report prepared by the United Nations Conference on Trade and Development (UNCTAD) simultaneously released globally; indicated that in the year 2009, Uganda’s Foreign Direct Investment was $799 million (Shs1.79 trillion) up from the $787 million (Shs1.45 trillion) recorded the previous year. Read the rest of this entry »

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 »

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 »

Ethiopia, Djibouti Customs to Share Port Database

(HornTrade) – Revenue and Customs Authority of Ethiopia (RCuA) is going interface its database with Djibouti Customs Office, reports Capital. This is meant to better manage and control incoming and outgoing goods of the country, according to the news report.

The authority negotiated with their counterpart of Djibouti and reached an agreement to interface their database to supply detailed information about incoming and outgoing goods in Ethiopia, according to sources at the authority. Read the rest of this entry »

Horn of Africa To Receive EUR20 Million Aid Package For Drought

(HornTrade) – The European Commission adopted Wednesday a € 20 million humanitarian financial package to support 12 million people affected by drought in Djibouti, Eritrea, Ethiopia, Kenya, Somalia and Uganda. This funding will help efforts to develop the populations’ resilience to drought and adapt to climate change.

The Greater Horn of Africa has been severely affected by recurrent and persistent manmade and natural hazards, leaving populations highly vulnerable to drought, human and livestock disease outbreaks, and to a lesser extent Read the rest of this entry »

Djibouti, IMF strengthening policies to deal with economic challenges

(HornTrade) – A mission from the International Monetary Fund (IMF) visited Djibouti from June 2-9, 2010 to discuss progress under the Extended Credit Facility (ECF), which replaced the Poverty Reduction and Growth Facility (PRGF) approved in September 2008. Mr. Carlo Sdralevich, IMF Mission Chief for Djibouti, issued the following statement today:
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Djibouti: Shoura Bank Inaugurated

(HornTrade) – The new premises of the Shoura Bank was inaugurated today, the 20th of  June 2010.

The Shoura Bank, which is a new Islamic financial institution, belongs to the holding Egyptian Shoura. It occurs particularly in the areas of trade, agriculture, industry, real estate, tourism and the medical field.

The doors open Shoura Djibouti Bank is part of the national authorities’ policy of more open banking market to different segments of the population of Djibouti. Read the rest of this entry »

DP World extends the port of Maputo deal to 2033

(HornTrade) – DP World has reached an agreement with the government of Mozambique to extend the Dubai company’s concession for the port of Maputo until 2033, with an option to operate it for a further 10 years.

The concession will replace an earlier 10-year agreement under which DP World was to have operated the terminal between 2008 and 2018 and will help the port operator to continue its coverage in the fast-growing Africa region. Read the rest of this entry »

Ethiopia: a billion Euros worth of fuel in the past 11 months

(HornTrade) -  Ethiopia imported one billion Euros worth of fuel in the past 11 months, which shows the country’s ever rising fuel consumption, APA learns here on Monday.

The Ethiopian Petroleum Enterprise said that the rise in fuel consumption has been witnessed due to the rapid economic growth of the country.
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