Posts Tagged ‘Kenya’

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 »

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 »

East African nations to challenge colonial Nile treaty

(HornTrade) — Under the 1929 accord, which still stands in international law, none of the other nine countries in the Nile basin can tap the river’s bounty without Cairo’s permission.

And because 95 per cent of Egypt’s water supplies come from the world’s longest river, that approval has rarely been given despite soaring demand for water across Africa.

Now Ethiopia, Kenya, Uganda, Rwanda and Tanzania have agreed a new pact to share the Nile’s waters more fairly and removes Egypt’s veto.
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Geothermal Companies Vie for African Development Contracts

(HornTrade) - East Africa — East Africa is famous for its national parks like the Serengeti, the continent’s highest mountain Kilimanjaro, and its exceptional safaris, but now it’s being celebrated by energy companies for its geothermal resources.

Most of Africa’s geothermal resources are located in its Rift Valley, one of the geologic wonders of the world.  The Rift Valley spans roughly 3,700 miles (6,000 kilometers) across East Africa and runs through Kenya, Ethiopia, Djibouti, Eritrea, Tanzania, Uganda, and Zambia.  It’s here that geologists observe firsthand how continents break apart and draw hot magma toward the surface. Scientists Read the rest of this entry »

EXIM (Export and Import) Bank of India in the East African region

(HornTrade) – Ethiopia and EXIM (Export and Import) Bank of India signed agreement here on Tuesday enabling to set up a representative office of EXIM Bank in Addis Ababa.

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Kenyan Government Investigates Possible Pirate Ties to Real Estate Boom

Some estimates say pirates collected more than $100 million in ransoms in last two years alone

(HornTrade) – Real estate prices in Kenya’s capital have doubled, even tripled, in the past few years, and the government wants to know why.  Investigators are looking into possible ties to Somali pirates. Volatile, lawless Somalia, where, last year, the International Maritime Bureau says pirates hijacked 47 ships and kidnapped 867 crewmembers. Read the rest of this entry »

East Africa’s Hydrocarbons: Rising Interest, Growing Business Opportunities

Smaller exploration companies take a chance on East Africa’s under-explored areas, but Tullow’s successful exploration in Uganda is now drawing big oil firms to the region. Even if missing out on oil finds, Kenya still stands to benefit from the sector’s development.

Global Pacific and Partner’s East Africa Petroleum Week in Nairobi on 11 and 12 May 2010 was well attended: Tullow’s exploration success in Uganda has put East Africa, previously marginal territory, on the map and there is clearly rising interest in the region: One speaker it interests in Kenya commented that East Africa has ‘excellent hydrocarbons potential … and we are keen to lock up acreage positions before the industry starts recognising the potential.’ Read the rest of this entry »

Congress, USTR Kirk Celebrate First Decade of African Trade Law

A landmark piece of trade legislation celebrated its 10th birthday on Capitol Hill May 12 with a party, a cake and a large group of proud supporters.

U.S. Trade Representative (USTR) Ron Kirk presided at a ceremony heralding the 10th anniversary of the enactment of the African Growth and Opportunity Act (AGOA) trade preference program. In attendance were several past and Read the rest of this entry »