Kenya bets on rail transforming East Africa, makes biggest ever investment
Africa might be a century behind the Western curve, but visionary leaders are starting to make the same bets which transformed the world’s dominant economies.
Addis Ababa
Obama on curse of corruption – annually costs Kenya 250 000 jobs, SA 1.5m?
United States President Barack Obama pulled no punches on Sunday when he criticised Kenya’s corruption, inequality and tribalism before a packed audience of about 6,000 people.
Zimbabwe’s Mugabe, 90, becomes African Union chairman
Ninety-year-old Zimbabwe President Robert Mugabe, one of Africa’s most divisive figures, ascended to the rotating chairmanship of the African Union on Friday, casting a shadow over the continental body’s relations with the West.
Delta, US’s biggest airine to continent, cuts West Africa flights by 20%
Delta Air Lines Inc., carrier with the most service to Africa, is cutting flights to Accra, Ghana, as the Ebola outbreak damps travel demand.
Development lenders pledge $8 billion to Horn of Africa
Global development lenders, including the World Bank, African Development Bank and European Union, pledged more than $8 billion on Monday to boost economic growth and reduce poverty in eight countries in the Horn of Africa
Ethiopia should consider currency devaluation, says World Bank
By Aaron Maasho ADDIS ABABA (Reuters) – Ethiopia should consider devaluing its currency to boost exports as they are mostly unprocessed products and need to stay competitive on price, a World Bank economist said on Tuesday. Ethiopia, whose main exports are coffee, horticultural products, oilseeds and livestock, has operated a carefully managed floating exchange rate … Read more
African tech start-ups dream of Silicon Savannah
By Helen Nyambura-Mwaura JOHANNESBURG (Reuters) – Young techies hunched over laptops in small offices across Africa want to create their own versions of California’s Silicon Valley and some are beginning to attract investors prepared to take a risk in the hope of high returns. One such start-up, a South African social photography app called Over, … Read more
Visa pushes for more access to barely-tapped Ethiopia
By Richard Lough ADDIS ABABA (Reuters) – Visa Inc., which is piloting Ethiopia’s first international debit card, is seeking to persuade the government to ease tight restrictions on banks in an effort to boost the use of electronic payments. Ethiopia has one of Africa’s fastest-growing economies but few people in the Horn of Africa nation … Read more
Ethiopia pushes retail door ajar To Foreigners
By Richard Lough ADDIS ABABA (Reuters) – Ethiopia has pushed the door ajar for foreign retailers keen to enter the fast-growing market of 90 million people, welcoming them as managers but keeping the state in control. It is a tantalising, if limited, offer for firms such as Walmart of the United States and Kenya’s Nakumatt … Read more
China signs deals with Ethiopia as Premier starts Africa tour
By Aaron Maasho ADDIS ABABA (Reuters) – China signed a raft of agreements with Ethiopia on Sunday as Premier Li Keqiang arrived for the first leg of his four-nation Africa tour aimed at shoring up burgeoning Sino-Africa ties that saw their trade top $200 billion last year. This is Li’s first visit to Africa since he became premier last year, and follows a trip to the continent … Read more