Investment in Africa
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In Africa: US promotes security, China does business - Reuters Blogs (blog)

In Africa: US promotes security, China does business - Reuters Blogs (blog) | Investment in Africa | Scoop.it
Reuters Blogs (blog)
In Africa: US promotes security, China does business
Reuters Blogs (blog)
kerry-li4 Secretary of State John Kerry and Chinese Premier Li Keqiang both made high-profile visits to Africa within a week of each other this month.
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Innovation Africa - Exploring power reforms in Africa

More than half of Africa's population lack access to electricity. This highlights one the continent's greatest economic problems. This huge challenge also pr...
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PROVIDING ACCESS TO FINANCE SMEs

Small and medium scale enterprises actively involved in agribusiness and entirely transact their business using the dollar can now access loan facilities fro...
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Etihad Launches Freighter Operations To Uganda's Entebbe

Etihad Launches Freighter Operations To Uganda's Entebbe | Investment in Africa | Scoop.it

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homestrings's curator insight, May 28, 2014 10:05 AM

Etihad Cargo, the freight business of Abu Dhabi’s Etihad Airways, has announced the launch of a new weekly flight to the Ugandan city of Entebbe, starting from May 26, 2014.

The direct cargo service will operate every Monday using an Airbus A330-200F freighter, with a capacity of 64 metric tonnes, Etihad said in a statement.

The service is expected to carry large quantities of electronics and textiles to Entebbe, with the return flight primarily loaded with perishable goods for the Gulf region and Europe.

Kevin Knight, Etihad Airways’ chief Strategy and Planning officer, said: “Uganda is an important market for Etihad Cargo, and the new Abu Dhabi-Entebbe freighter service will allow us to capitalise on the strong import and export demand to and from East Africa.

“In addition, whilst we expect to see strong onward trade flows over our Abu Dhabi cargo hub to destinations across the Middle East, subcontinent and Europe, ultimately this service will further strengthen the trade ties between the UAE and Uganda.”

Etihad Cargo, which offers services to 103 destinations internationally, recently announced that it carried 127,821 tonnes of freight and mail in the first quarter of this year, up 26 per cent from the previous year. Revenues during the period reached $243 million.

The cargo operator currently has a fleet of nine freighters, consisting of three Airbus A330-200F, three Boeing B777F, and three Boeing 747F. It will take delivery of one new freighter, an Airbus A330-200F, next month.

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South Korea loans Mozambique US$124 million


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homestrings's curator insight, May 30, 2014 6:05 AM

The South Korea Export-Import Bank has provided Mozambique with two loans worth US$124 million to build a road and landfill sites, Mozambican daily newspaper Notícias reported.

According to the newspaper, the two loan agreements include one for US$75.441 million for construction of National Road Number 104 (EN104), which links Nampula and Nametil, in Nampula province and another for US$48.621 million for construction of landfill sites in Maputo and Matola.

The two loans have a maturity of 40 years, including a 15-year grace period and an interest rate of 0.01 percent.

The project to build EN104 covers a distance of 74 kilometres between the city of Nampula and the town of Namitil, which will now be paved. It is expected to improve conditions of travel for the population as well as for goods to and from the neighbouring districts of Angoche and Moma, which are potential producers of agricultural goods, heavy sands and titanium.

The landfill project involves building a modern facility to process solid urban waste that will serve the cities of Maputo and Matola, with an estimated capacity of 1,400 tons per day.

Yim Seong-Hyeog, vice president of the South Korea Export-Import Bank said as the loan agreements were signed that the first project funded by South Korea in Mozambique was construction of the Quelimane Central Hospital in 2008 and that so far South Korea had provided Mozambique with subsidised loans totalling US$318 million for eight projects.

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Access to financial services

http://ec.europa.eu/employment_social/spsi/events_en.htm Millions of EU citizens do not have access to a basic bank account, a form of financial exclusion wh...
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IFC Africa Leasing Facility

In the majority of African countries high interest rates and prohibitive collateral requirements prevent most micro, small and medium enterprises (MSMEs) fro...
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WCF supports business development opportunities in East Africa

WCF supports business development opportunities in East Africa | Investment in Africa | Scoop.it

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homestrings's curator insight, May 28, 2014 9:50 AM

Chambers of commerce from across East Africa and their business members are being offered an opportunity to develop trade and commercial ties at a Global Trade Forum set to take place in Kampala on 18 June.

Supporting the event, ICC World Chambers Federation (WCF) will convene a special roundtable session and hold a meeting of the WCF Executive Committee one day before the Forum. The WCF roundtable will feature chamber leaders from East Africa who will present the challenges and opportunities of their organizations in their respective countries.

“Helping our Africa chamber colleagues benefit from the global network is a key part of the World Chambers Federation’s three-year strategy,” said WCF Chair Peter Mihok. “This event in Kampala is just the first of several actions planned for the region.”

Organized by the Uganda National Chamber of Commerce, the Global Trade Forum will offer a chance for participants to foster institutional connections with their peers from around the world.

As well as an extensive B2B business matching programme, the event will also provide international chamber and business delegates with a platform to engage with high-level decision makers on the region’s wide range of trade and investment opportunities.

A keynote address will be made by Maria Kwanuka, Minister of Finance, Planning and Economic Development, with other speakers including Allen Kagina, Commissioner General, Uganda Revenue Authority (on the East African Community Customs Union); Frank Sebbowa, Executive Director, Uganda Investment Authority; and Richard Sezibera, Secretray General, East African Community (EAC).

Olive Kigongo, President, Uganda National Chamber of Commerce who also serves as Vice-Chair of the East Africa Business Council said that chambers in East Africa have much to benefit from developing their partnerships with chambers worldwide. “The Forum will help create new business opportunities and influence public policies across the EAC business community, improving the business environment and also helping chambers better understand the important value-added services that they provide in achieving economic development in their communities,” she said.

- See more at: http://www.iccwbo.org/News/Articles/2014/WCF-supports-business-development-opportunities-in-East-Africa/#sthash.pJOyeBYo.dpuf

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Investing in East Africa: the Diaspora Investment Symposium

Investing in East Africa: the Diaspora Investment Symposium | Investment in Africa | Scoop.it

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homestrings's curator insight, May 30, 2014 2:57 AM

Homestrings and DMA are delighted to announce that Investing in East Africa - the latest in our series of events aimed at directing capital from the Diaspora into investable projects from across Africa - will be held in central London, on Friday 4th July 2014.

Due to FCA regulations, the event is reserved only for members of the Homestrings investment platform. If you don't already hold an active login, you can easily setup yours now, and best of all it's free!

Read more: https://www.homestrings.com/news-and-analysis/2014/may/28/investing-in-east-africa-the-diaspora-investment-symposium/#.U4grrXKSz0s

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Rwanda gets $76m for entrepreneurship

Rwanda gets $76m for entrepreneurship | Investment in Africa | Scoop.it

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homestrings's curator insight, May 20, 2014 10:09 AM

KIGALI, Rwanda - The Africa Development Bank (AfDB) is lending Rwanda $76 million ( about Rwf52 billion) to support the government’s policy reforms aimed at promoting inclusive growth and accelerating poverty reduction.

A centerpiece of all this the Skills, Employment and Entrepreneurship Program II (SEEP 2).

According to a statement by the Ministry of Finance and Economic Planning, the Second Sector budget support signing took place at the AfDB headquarters in Tunis recently.

The signing was presided over by Rwanda Government’s Chief Economist Leonard Rugwabiza Minega.

“AfDB’s support directly contributes to Rwanda’s competitiveness, inclusive growth and poverty reduction,” Ndoumbe Lobe, the bank’s acting Vice-President for Operations (Water, Agriculture, Human Development, Governance, and Natural Resources Departments) said.

Rugwabiza said, “The government appreciates this timely support which will boost its efforts towards the implementation of the Economic Development and Poverty Reduction Strategy (EDPRS 2).”

Rwanda has made considerable progress in developing skills and a growing workforce that meets the demands of the labour market, as well as underpinning job creation for young people.

AfDB said SEEP 2 is expected to specifically consolidate, sustain achievements and scale-up reforms supporting skills and entrepreneurship development started under SEEP 1.

“This support will go towards promoting entrepreneurship in Rwanda not only through reducing the cost of doing business but also the risk of doing business,” Rugwabiza said.

SEEP 2 will benefit youth, women and micro, small and medium enterprises (MSMEs).

About 40% of all registered entrepreneurs are women and they make up 52% of the population.

According to an AfDB statement, the youth comprise of 39% of the population. 

SMEs account for over 92.6% of private-sector establishments and employ the majority of the population.

Lobe said Rwanda still experiences skills gap as well as low labour productivity which affects private sector growth and competitiveness and therefore the average skills deficit is at about 40%.