The story of Kenya’s borrowing spree since 2013 has been a potpourri of secretive deals, lopsided contracts and massive loans whose use raises more questions than answers. Revelations that the government plans to borrow $97.5 billion to settle two other syndicated loans maturing next year have once again turned the...
Kenya’s borrowing remains manageable, its treasury secretary said, looking to quash concerns after the International Monetary Fund raised its assessment of the country’s risk of debt distress to moderate. The East African nation’s nominal debt-to-gross domestic product is still sustainable at 55 percent, far lower than the IMF’s upper threshold...
Ethiopia has overtaken Dubai as a conduit for long-haul passengers to Africa, highlighting the success of the state airline's expansion drive and the reforms of its new prime minister. Travel consultancy Forward-keys said on Wednesday Addis Ababa airport had increased the number of international transfer passengers to sub-Saharan Africa for...
Germany on Wednesday provided a 62.98-million-euro fund for Zambia's development projects for 2019-2020, according to a release later on the same day. The fund aims to support financial governance, civil societies, decentralization and renewable energy utilization and capacity building, among other projects. "The negotiations focused on ongoing and future programs in...
A group of 30 Chinese entrepreneurs on Wednesday concluded their three-day trip to Uganda to look for business opportunities. Uganda has held several Chinese investment forums with the aim of persuading the Asian country that it is among the best investment destinations in Africa. Uganda Investment Authority (UIA), a state agency...
Cash strapped South African national carrier says it needs a capital injection of $540 million from December to sustain operations into 2019. South African Airways (SAA) made the revelation during a parliamentary presentation over the state of its affairs. The airline which relies heavily on government guarantees has not generated a...
Tanzanian President John Magufuli, who has faced threats in recent weeks from Western donors to cut off aid in response to human rights concerns, said on Tuesday he prefers assistance from China, as Beijing imposes fewer conditions. “The thing that makes you happy about their aid is that it is...
Ethiopian and Chinese businesses on Tuesday expressed high hopes that an Africa-China business forum scheduled to be held in Ethiopia from Dec. 3 to 5 would further deepen ties between Chinese and African businesses. Ethiopia's capital Addis Ababa will host the high-level forum next week as some 41 Chinese companies...
China has offered Cameroon $3 million (FCFA 1.8bn) humanitarian assistance to the thousands of people displaced by the two-year long crisis in the English speaking Northwest and Southwest regions where armed separatists are pushing for a secession. The state-owned bilingual daily, the Cameroon Tribune, reported on Monday that an agreement for...
Ethiopian Airlines has announced plans to start domestic operation in Mozambique from December, reaching eight cities in the first phase. In a press release, the airline said the eight Mozambican cities are: the capital Maputo, the central Tete, Manica, Beira, Chimoio, Quelimane, and the northern Nampula, the port city of...