South Sudan News

Across Africa, 3 in 4 countries improve business environment

Across Africa, 3 in 4 countries improve business environment (Infographic)

Almost three-quarters of African countries saw an improvement in their business environments in 2016, according to the Doing Business 2017 report published in October by the World Bank.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa

Ethiopia and Djibouti have launched the first fully electrified cross-border railway line in Africa.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Real GDP Growth Rates (2007 - 2017) of Countries in Africa (Interactive Map & Chart)

Visualizations of Real GDP Growth Rates of Countries in Africa (Interactive Map & Chart) from 2007 – 2017.

Konza Tech City

Kenya's $50 billion megaprojects (Photos)

Konza Tech City – The much-hyped Konza Tech City – or “Silicon Savannah” – is hoped to be a world-class hub of entrepreneurship. The $15 billion site, set in 5,000 acres to the south of Nairobi, will accommodate almost 200,000 people, complete with universities, research facilities, and IT centers.

Kenya vs. Tanzania: The race to build Sub-Saharan Africa's largest port. Credit: bbc.com

Kenya vs. Tanzania: The race to build Sub-Saharan Africa's largest port

Kenya and Tanzania have long competed to have the most important port in East Africa and their rivalry is about to become more intense as they compete for the region’s business.

Kenya signs $5.42B railway extension deal with Chinese firm

Kenya signs $5.42B railway extension deal with Chinese firm

Kenya recently signed a multi-billion dollar agreement with China Communications Construction Company (CCCC) to extend the country’s rail network, adding to a swathe of infrastructure deals in Africa won by Chinese firms.

Flight attendants serve beverages aboard an Ethiopian Airlines 787 Dreamliner on a flight to Jomo Kenyatta International Airport.

Intra-African travel is about to become easier, safer and more open

Intra-African travel — which is critical to unlocking the region’s tourism potential — is set to become easier, safer and more open.

African economies to grow by 4.4% in 2016

African economies to grow by 4.4% in 2016, up from 3.7% in 2015

Africa will record a 4.4 percent economic growth this year, up from 3.7 percent in 2015 buoyed by increasing domestic demand and improved investment in infrastructure, the United Nations has predicated.

Africa's Prospects - Macro Environment, Business, Consumer and Retail Outlook Indicators. Credit: nielsen.com

Africa's Prospects - Macro Environment, Business, Consumer and Retail Outlook Indicators (Infographics & Report): Nielsen

Africa’s rise in prominence is part of an overall global trend that has seen a shift in economic opportunity from the developed to the developing world. In fact, 6 out of the 10 fastest growing economies in the world are in Africa.

Addis Ababa, Ethiopia. Ethiopia is predicted to be Africa’s fastest growing economy in 2015

Africa outperforms global economy despite downward revisions

Africa continues to outperform other world regions despite falling commodity prices and rising conflict in 2015, according to revised GDP figures forecasted by the International Monetary Fund (IMF) accessed via Analyse Africa.

Ben Kruger, Co-CEO, Standard Bank

Standard Bank opens Ethiopia office to cater to fast growing economy

Standard Bank Group has opened a representative office in Ethiopia.

Here are 17 facts about Africa you might not know

Here are 17 facts about Africa you might not know

Here are some key facts and figures, courtesy of the Indo Asian News Service (IANS), about a continent that is not only one of the fastest growing regions of the world but one that is economically, culturally and linguistically diverse.

Nancy Kacungira, New Anchor, KTN

Why I cannot tell 'the African story': Nancy Kacungira, News Anchor, KTN (Infographic)

Ugandan TV journalist Nancy Kacungira has won the first BBC World News Komla Dumor Award for Africa-based journalists.

Compelling investment markets in Africa. Credit: sc.com

Compelling investment markets in Africa - Inside Riscura's Bright Africa 2015 Report: Debbie O’Hanlon, Senior Analyst, RisCura (Infographics)

Africa is not a single investment destination with a single set of standardized risk factors and homogenous potential for reward.

Starwood will be opening the Four Points by Sheraton Oran in November, marking the entry of the brand into Algeria

Starwood Hotels accelerates growth in Africa with seven new deals

Company to expand Africa portfolio by over 50% in the next five years entering new markets and introducing more brands.

Kenyan & South Sudan begin work on fiber optic cable

Kenya & South Sudan begin work on fiber optic cable

Kenya and South Sudan have commenced work on the fibre optic cable that will connect the two countries within the next two years, to enhance communication and cross-border trade.

DHL is investing about $50M in Sub-Saharan Africa to tap emerging middle class

DHL is investing about $50M in Sub-Saharan Africa to tap emerging middle class

Deutsche Post AG’s DHL unit is investing about $50 million in sub-Saharan Africa as rising household incomes help spur demand for express and freight deliveries.

Modderfontein development, South Africa

Africa's megaprojects: 326 billion reasons Africa is on the move (Photos, Infographic & Video)

When the new, expanded Suez Canal was inaugurated on August 6, the world marveled at the endeavor and single-mindedness that had born — and bored — 72 kilometers of new waterways through the Egyptian earth.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank to focus on developing mobile banking business

Kenya’s Equity Bank aims to double profits from its foreign markets in east Africa and increase users of its mobile banking service to boost earnings, its chief executive said on Tuesday.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank starts mobile money service Equitel to challenge Safaricom

Kenya’s Equity Bank said it would press ahead with offering mobile phone transfer services, stepping up competition to telecoms firm Safaricom’s money transfer product.

Kenyan Millionaire Numbers Seen Rising at Double Global Pace

Kenyan Millionaire Numbers Seen Rising at Double Global Pace

The number of U.S.-dollar millionaires in Kenya will grow at more than double the global rate over the next decade as the economy expands, according to Africa’s biggest lender.

Azeb Asnake, CEO, Ethiopian Electric Power (EEPCo)

Ethiopia eyes extra 12,000 MW in power projects by 2020: Azeb Asnake, CEO, Ethiopian Electric Power (EEPCo)

Ethiopia plans to launch hydropower dams and other renewable energy projects over the five years to 2020 that will add an additional 12,000 megawatts of electricity upon completion, a senior official said on Monday.

A customer conducts a mobile money transfer via M-PESA inside the Safaricom mobile phone care center in the central business district of Kenya's capital, Nairobi. REUTERS/Thomas Mukoya

Kenya's KCB signs up 1.8 million mobile banking customers in 3 months

Kenya’s biggest bank by assets, KCB, has signed up 1.8 million customers for its mobile phone-based service since it was launched in March and is on target for 10 million users within a year from now, its chief financial officer said.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank to expand to the DRC via acquisition in first step outside East Africa

Kenya’s Equity Bank Group plans to expand its operations into the Democratic Republic of Congo by acquiring a 79 percent stake in ProCredit Bank Congo, its chief executive officer said on Tuesday.

Ethiopia to step up role as regional clean power exporter

Ethiopia to step up role as regional clean power exporter

Ethiopia plans to begin exporting renewable energy to a broader range of neighboring nations by 2018 as part of a cross-border effort to meet regional energy demand and limit increases in climate-changing emissions.

James Mwangi, CEO, Equity Bank

Kenya's Equity Bank plans 10-nation Africa expansion, says CEO James Mwangi

Kenya’s Equity Bank plans to enter 10 more African countries in the next decade, in addition to the five it already serves, by building operations from scratch or acquiring existing lenders, its chief executive said on Wednesday.

Diageo's Baileys Original Irish Cream - Could Africa be the motor for Baileys' future growth?

Diageo: Could Africa Be The Motor For Growth?

Diageo is a leading alcoholic beverage manufacturer, producing world famous brands such as Johnnie Walker, Smirnoff, Baileys, and Guinness.

Marek Zmyslowski, Managing Director, Jovago

Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)

Marek Zmyslowski is the CEO and Managing Director of Lagos-based Jovago. Jovago is an online marketplace that connects travellers across Africa with hotels. Jovago enables customers to secure hotel rooms through an online platform that is faster, cheaper, and easier than the alternative of making a phone call.

Kenya’s Konza Techno City, a new tech hub 60km southeast of Nairobi, will be the biggest ICT park in East Africa.

Connected East Africa: Kenya leads, East Africa follows

Earlier this month, the great and the good of the Nairobi ICT sector made their annual pilgrimage to the Kenyan coast to discuss the events of the last year and put in place plans for the next.

Ilyas Dawaleh was a businessman before be entered politics and rose to become Djibouti’s Minister of Economy and Finance. Antonie Robertson / The National

Ilyas Dawaleh: The man who wants to make Djibouti the next Dubai

Ilyas Dawaleh has an ambition: he wants to make his country the Dubai of Africa, and he is getting plenty of help from the UAE to help him achieve that.

South Sudan plans to lay fiber optic cables within two years

South Sudan plans to lay fiber optic cables within two years

South Sudan plans to lay a fiber optic cable to bring broadband Internet to its citizens in the next two years, its minister for telecommunications and postal services said.

Ethiopian Airlines in talks to set up national carriers in Nigeria, Uganda, South Sudan & the DRC

Ethiopian Airlines in talks to set up national carriers in Nigeria, Uganda, South Sudan & the DRC

Ethiopian Airlines Enterprise, East Africa’s biggest carrier by revenue, is considering proposals to help set up national airlines in Nigeria and three other countries to expand its operations on the continent.

Nairobi, Kenya

From frontier market to emerging market: Kenya's economic rise

Kenya is moving from a frontier market to an emerging market, and is beginning to attract investment from all over the world. The future of Kenya’s business environment is looking increasingly bright as the national economy continues to grow at an enviable pace.

Joshua Oigara, CEO, KCB

Kenya's KCB sees growth from new M-PESA-based mobile phone accounts, says CEO Joshua Oigara

Kenya’s largest lender KCB has launched a new service that allows depositors to open mobile phone-based accounts, which it’s CEO said could make up to nearly a third of its business in two years.

AfricInvest

AfricInvest to exit its investment in Kenyan Insurance Company UAP Holdings

AfricInvest, a leading pan-African SME-focused private equity firm, is pleased to announce that its AfricInvest Fund II (“AFII”) and AfricInvest Financial Sector (“AFS”) Fund, along with two other investors, Aureos Africa Fund (managed by Abraaj) and Swedfund, entered into an agreement to sell their 37.3% collective stake in UAP Holdings Limited (“UAP”) to Old Mutual Holdings, a wholly-owned subsidiary of Old Mutual plc (“Old Mutual”) for KES 14.2 billion (approximately USD155.5 million).

Fiber Optic Cable

Kenya & South Sudan sign fiber optic cable memorandum

The governments of Kenya and South Sudan have signed an MoU regarding the laying of fibre optic cables to South Sudan’s capital city, Juba, according to Capital FM.

Julian Roberts, CEO of Old Mutual

Old Mutual Spends Bulk of Africa War Chest on UAP Stake in Kenya

Old Mutual Plc (OML), which earmarked 4.3 billion rand ($374 million) for acquisitions in Africa, increased its stake in Kenya’s UAP Holdings Ltd., meaning that the insurer has now spent more than half of that war chest.

Chris Kirubi, Chairman of Centum Investment Company

Kenya's Centum to sell insurance firm stake to Old Mutual

Kenya’s Centum Investment Company said it had agreed to sell its 13.75 percent stake in regional insurance firm UAP Holdings to Anglo-South African financial services company Old Mutual.

River Dam

Ethiopia's $1.8B Gilgel Gibe III dam project could start power generation by June

A much-delayed $1.8 billion dam project under construction along Ethiopia’s Omo river could begin generating power by June and be fully operational by early 2016, an official said on Thursday.

Paul Muthaura, Acting CEO, Kenya's Capital Markets Authority

East Africa Targets Cross-Border Debt Sales to Fund New Railways

The East African Community plans to allow bond sales across four markets in the bloc as investors look to fund projects such as railways that will link up the region.

Africa

The IMF Says The World's In A Mess - But Not Africa

The IMF’s latest World Economic Outlook makes sobering reading for most of the world.