News Archive

The East African CommunitThe East African Communit

DRC: Regional Business Council press EAC to fast track admission of DRC into bloc

The East African Community has been urged to speed up the admission of the Democratic Republic of Congo into the regional bloc ...

Kenya: Plans for a nuclear power plant revealed

Kenya is set to build a USD 5 billion nuclear power plant with an initial capacity of 1GW in Tana River County over the next ...

Zambia: New diamond processing plant adds value to industry

Mutinta Jewellery has announced the opening of a USD 3.2 million diamonds and gemstone processing plant that will create about ...

Morocco: USD 12.8 billion recovery plan to rescue economy

King Mohammed VI has announced that USD 12.8 billion will be injected into the national economy as Morocco seeks to recover from ...

Mozambique: AFDB signs USD 20 billion Mozambique LNG loan

The African Development Bank has signed a USD 400 million loan to co-finance Mozambique's LNG Area 1 Project which is ranked as ...

Rwanda: African Development Bank commits USD 98 million for COVID-19 response

The AfDB has approved a USD 98 million loan to strengthen Rwanda's health system to contain the spread of COVID-19, safeguard ...

East Africa: Home grown multinationals gain firm foothold in region

The EAC Common Market has opened a window for cross-border expansion, nurturing home-grown multinationals with financial ...

Algeria: New plan to revive economy, reduce dependence on oil

Algeria plans to launch a new economic plan to reduce reliance on oil and gas and give the private sector a greater role by ...

Nigeria: E-commerce start-up to include financial services to its supply chain services

TradeDepot, which connects international brands to small businesses in Africa has raised USD 10 million in a new round of funding ...

Africa: Joint tech front set up in fight against pandemic

African countries have rolled out the Africa Communications Information Platform to gather user-generated survey data and ...

East/Southern Africa: World Bank provides USD 425 million for infrastructure financing

The World Bank has approved USD 425 million to support the Regional Infrastructure Financing Facility project which aims to ...

Tanzania: New lower middle income status improves nation’s creditworthiness

Tanzania’s access to international credit markets has been boosted after attaining the World Bank’s new minimum gross ...

East Africa: Region braces for another locust invasion in the face of a pandemic

A third outbreak of desert locusts, with billions of the destructive insects is about to hatch and threaten food supplies in a ...

Ethiopia: AfDB approves grant for Ethiopia-Sudan railway study

The African Development Bank has approved a USD 1.2 million grant to Ethiopia’s government to finance a two-year feasibility ...

Rwanda: USD 315 billion fund planned for Covid-19 recovery

Local businesses have been invited to apply for funding under the Economic Recovery Fund, a two-year facility established by the ...

Uganda: Coffee sales rise despite pandemic

Uganda coffee exports have continued to surge despite the coronavirus pandemic with April figures showing an increase of 18 ...