East Africa economic news

Kenya, U.S. Sign Pacts to Deepen Bilateral Relations As Obama Lands in Nairobi

A new agreement has been signed between Kenya and the United States increasing Visa validity period for Kenyans travelling to the US to five years. This will be welcome news to students, temporary visitors, business people and tourists travelling to the US as they have been hitherto restricted to a one year visa period. The …

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African textile sector welcomes US trade agreement extension

Follow us on Twitter: @GoAfricaNetwork The US government has granted a long-term extension to a major US-Africa trade programme on 29 June, a move welcomed by African textile and apparel manufacturers. President Obama signed into law a bill reauthorising the African Growth and Opportunity Act (Agoa) for another 10 years. Since 2001, the non-reciprocal trade …

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Ethiopian Airlines to buy six Dreamliners (787)

Follow us on Twitter: @GoAfricaNetwork Ethiopian Airlines is set to buy six more 787-8 Dreamliner aircraft after striking a deal with Boeing at the Paris Air Show. The order was previously attributed to an unidentified customer on Boeing’s orders and deliveries website. we will keep investing heavily in technologically advanced and modern airplanes The Dreamliners …

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After 26 countries signed $1 trillion free-trade plan, AU heads of state now want to double the deal

Follow us On Twitter: @GoAfricaNetwork AFRICAN NATIONS are taking steps toward creating a free-trade zone with a combined size of $2 trillion, as heads of state meet in Johannesburg this week. This comes after a potentially historic deal was signed in Egypt this week that created a common market that would span half the continent from Cairo …

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Tazania’s natural gas reserves now stand at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast.

Follow us on Twitter: @GoAfricaNetwork Tazania’s current natural gas reserves now stand at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast. According to the East African nation’s energy minister, George Simbachawene, natural gas resources discovered in the country increased by  18 percent to 55.08 tcf in April 2015, …

Tazania’s natural gas reserves now stand at about 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast. Read More »

Maersk, owner of world’s largest container liner, targets Nigeria and Kenya ports in Africa expansion push

Follow us On Twitter: @GoAfricaNetwork A.P. Moeller-Maersk A/S, owner of the world’s largest shipping container line, is seeking to win contracts to build and upgrade ports in Nigeria and Kenya as the Danish company expands its African operations. Maersk is awaiting a final sign-off on a contract to help build a new port in Badagry in …

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General Electric to Invest 10 Billion in Africa, Tragets Nigeria Rail Sector

Follow us on Twitter: @GoAfricaNetwork General Electric (GE), a 123-year old American Conglomerate with operations in 130 countries around the world, is gearing up to further exploit the economic potentials inherent in sub-Saharan African markets, especially Nigeria and Ethiopia. At the ongoing World Economic Forum (WEF) on Africa, GE said it would increase its capital …

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Africa’s Top 20 most connected countries by user numbers

Follow us on Twitter: @GoAfricaNetwork According to worldometers.info, the population within South Africa sits at just over 53 million individuals. To add to the figures, Nigeria currently has over 183 million individuals populating its city’s. Africa has always been viewed as a continent that isn’t very connected in terms of internet speeds and the number …

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Alternatives to project finance in Africa

Follow us on Twitter: @GoAfricaNetwork The challenges of this financing are magnified in sub-Saharan Africa, as there is a paucity of projects that meet the high-water mark required by most investment banks. Basic requirements include experienced and credit-worthy sponsors, healthy financial ratios and forecasts, exhaustive technical due diligence, and a stable and cohesive political and …

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Cargo drones in Africa: Going the last mile?

Follow us on Twitter: @GoAfricaNetwork Drones are a controversial topic when it comes to national security. However cargo drones, with their potential applications for last mile delivery in remote areas and humanitarian emergency situations, are tipped to be an exciting area of innovation for Africa. But who is behind the push for cargo drones in …

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