Kampala — The African Development Bank (ADB) board of directors has approved the institution's borrowing programme for 2017, for an amount of $8.4 billion (Shsh30.4 trillion).   The money will be raised from capital markets in African countries by issuing bonds in local currency to finance development projects.   Due to existing large infrastructure deficits, African governments are in need of funds to finance various.... Read more »

Posted on : Thursday , 5th January 2017

Nairobi — The Sh2.4 billion ultra-modern national library complex on Ngong road, Nairobi is set to be opened in 2017, with 65 percent of the works completed on the 5 storey building.   Vision 2030 Delivery Secretariat, Director General, Dr. Julius Muia, says the library will offer a comprehensive national reference service to all sectors of the economy and contribute to literacy development and research.   With a sitting.... Read more »

Posted on : Thursday , 5th January 2017

Officials from the firm hired to supervise works on the expansion of Kigali city roads have committed to finish in time to avoid prolonged inconveniences to road users and also ensure quality work.   The roads expansion project is set to cover about 54 kilometres, mainly targeting expanding roads to a dual carriage way with two lanes on each side.   Chinese firm, China Road Bridge Corporation, has been contracted to do the.... Read more »

Posted on : Thursday , 5th January 2017

Ethiopia officially began its two-year term as a non-permanent member of the United Nations Security Council (UNSC) January 02, 2017.   The new UN Secretary-General Antonio Guterres also began his duties as the 9th Secretary-General the same day and he did so with a strong appeal for peace in 2017.   Ethiopia together with other members of the Council would do everything it can to respond to Guterres' appeal for peace and.... Read more »

Posted on : Thursday , 5th January 2017

The construction sector plays a pivotal role in accelerating economic growth. Its roles in the expansion of infrastructural facilities such as roads, schools, hospitals, residential houses, among others, can be mentioned.   The growth of infrastructural facilitate by itself is part of development. As a stimulant for growth, it creates an up and downward linkages so as to create value chains. It generates job opportunities for hundreds of.... Read more »

Posted on : Wednesday , 4th January 2017

The decision by government to shelve plans to contract private firms to carry-out pre-shipment inspection for goods destined to Rwanda has raised concern from the business community, especially importers. The exercise was previously being conducted by Société Générale de Surveillance (SGS) a Switzerland-based firm under the Imports Products Conformity Assessment to Standards (IPCA) scheme from mid-2014 till the.... Read more »

Posted on : Tuesday , 3rd January 2017

This will be the year of the railway - perhaps mimicking 1899, when the current railway reached Nairobi.   By then, the railway was Colonial Kenya's most expensive project. Today, the new standard gauge railway is still the country's most expensive infrastructural project.   A historical transport masterpiece in the region, SGR has encountered numerous challenges like her predecessor, the metre gauge line that is more than a.... Read more »

Posted on : Tuesday , 3rd January 2017

A new World Bank funded project promises improved living conditions for refugees camped across five states in Ethiopia.   The Bank offered 100 million USD to implement "Development Response to Displacement Impact Project (DRDIP) in the Horn of Africa."   Speaking at project launching event in Semera, Afar State, Livestock and Fisheries Minister Dr. Misrak Mekonnen said the projects are believed to increase the benefit of.... Read more »

Posted on : Tuesday , 3rd January 2017

The Ministry of Industry announced that the construction of four agro- industrial parks projects would be launched soon in Tigray, Amhara, Oromia and SNNP States.   Speaking at stakeholders' consultative meeting on the implementation and resource mobilization for agro-industrial parks expansion project here Friday, Integrated Agro- Industrial Parks Project Marketing and Economic Analyst Moges Mesfin said the project is part of the.... Read more »

Posted on : Tuesday , 3rd January 2017

Office of the National Council for the Coordination of Public Participation for the Construction of the Grand Ethiopian Renaissance Dam (GERD) said it has successfully accomplished its goal of mobilizing the public towards the construction of the dam.   Office Deputy Director Tagel Kenubih said the office had managed to mobilize Ethiopians home and abroad for massive purchase of bonds over the last fiscal year (2015-16).   The.... Read more »

Posted on : Tuesday , 3rd January 2017

In the past few years, Rwanda has risen to become among the leading foreign direct investment (FDI) destinations in the Great Lakes, and even beyond.   This is particularly true when one considers a number of the biggest international hotel chains which have recently opened their doors: Kigali Radisson Blu, Serena, Park Inn, Sheraton, Zinc, Protea, and Golden Tulip among others.   All these hotel brands are establishing in Rwanda.... Read more »

Posted on : Monday , 2nd January 2017

The National Bank of Rwanda is in the final stages of licensing a Kenyan bank, Commercial Bank of Africa (CBA), to operate in the country as a micro-finance institution.   According to central bank governor John Rwangombwa, they are in the final stages of approving the bank's operations in the country.   Following the licensing and clearance, the bank is likely to begin operations in 2017, further increasing the number of financial.... Read more »

Posted on : Monday , 2nd January 2017