Browsing Tag

investment

DP World Commits $3 Billion to Transform African Ports by 2029

(Bloomberg) -- DP World has earmarked $3 billion for new port infrastructure in Africa over the coming 3-5 years, aiming to tap into a growing market driven by the rising demand for essential mineral exports.“Logistics and supply chain expenses are exorbitant across Africa compared to other regions,” said Mohammed Akoojee, the CEO and managing director for sub-Saharan Africa at DP World, during a Bloomberg Television interview. The firm is expanding operations in Dar es Salaam, Tanzania and recently evaluated harbors in…

Somali Prime Minister Engages in South Korea-Africa Summit to Boost Investment and Enhance Security

Seoul (AX) - Somali Prime Minister Hamse Abdi Barre, along with his posse, popped over to the South Korea-Africa summit in Seoul, which kicked off on Tuesday. With folks from 48 African nations, the summit delves into heavy hitters like climate issues, grub shortages, and health woes. President Yoon Suk Yeol rolled out the red carpet with a jaw-dropping pledge of billions in fresh aid and investments for Africa, aiming to crank up trade connections. This afternoon, Prime Minister Barre will hit the stage to chat up…

Somali Foreign Minister solicits investments from China and Arab Nations to boost vital industries

In Beijing, Somalia's Foreign Minister encouraged Chinese and Arab investment in key sectors like animal husbandry, agriculture, fisheries, and renewable energy. He emphasized the strong historical and trade ties between China and the Arab world, highlighting Somalia's role as the first East African country to establish diplomatic relations with China. The Minister stressed the importance of cooperation to achieve economic benefits and reiterated Somalia's support for the One China policy. He also condemned Ethiopia's…

Kenya Boosts Investment in AfDB and African Multilateral Lenders with $100 Million Injection

President William Ruto delivered a speech at the opening of the 59th Annual Meetings of the African Development Bank Group and the African Development Fund in Nairobi on May 29, 2024. Kenya plans to increase its stakes in three vital African financial institutions by $100 million to show support for efforts to address the continent's issues. President Ruto announced the additional investment during the AfDB annual meetings in Nairobi, stating that the money will also benefit the Afrexim Bank and the Trade and Development…

Empowering African Nations: Encouraging Private Sector Investment in Higher Education

African nations are advised to seek private sector partnerships to fund higher education Experts urge African countries to attract private investments for tertiary education and skill development for the youth. At a recent event in Nairobi, former Tanzanian President stressed the importance of government support in attracting private capital for education. To build a solid tertiary education system, experts recommend investing in early learning, primary, and secondary education to create a skilled workforce. The African…

Boost private sector investment in tertiary education across African countries

NAIROBI, Kenya - Assembled experts at an African Development Bank conference in Kenya recommended that African countries step up efforts to attract private sector funding to improve tertiary education, equipping the continent's youth with the necessary skills. During a panel at the Bank's 2024 Annual Meetings in Nairobi, the experts emphasized the need for a strong commitment to ensure private sector investments in education yield positive returns. Former Tanzanian President Jakaya Kikwete, who chairs the Global Partnership…

Empowering Somalia: Diaspora Investment Forum Igniting Economic Growth in Mogadishu

In Mogadishu, the Somali Diaspora Investment Forum kicked off to explore the diaspora's impact on the nation's economic growth. Hosted by the International Bank of Somalia and arranged by the Ministry of Foreign Affairs in collaboration with the Department of Diaspora Communities, the event attracted government officials, business leaders, and representatives from the community. Minister Ahmed Moallim Fiqi underscored the crucial role of the Somali diaspora, which contributes around $2 billion yearly in remittances—making…

Strengthening Trade and Investment Ties: Kenya and Somalia Pledge to Boost Bilateral Relations.

Kenya and Somalia recently pledged to strengthen their ties and boost trade and investment to improve their economies. During a meeting between Deputy President Rigathi Gachagua and Somalia's Prime Minister Hamza Abdi Barre in Nairobi, the two countries discussed cracking down on cartels and promoting fair trade practices for mutual benefit.The visit followed the third Session of the Joint Commission of Cooperation (JCC) held in Nairobi from May 3 to 5, 2024. Prime Cabinet Secretary Musalia Mudavadi stated that both leaders…

Africa: a petition demanding investment in

Gilles Yabi, last week you launched a petition calling for the improvement of health systems in West Africa and you also organized on Wednesday 15 March a virtual roundtable discussion on how health structures work. Why this focus on health right now?…

investment boom in gold mines

This is one of the effects of Sudan's return to the international scene, mining companies flock there to invest in gold and copper in particular. On June 17, the government granted nine mining concessions, eight for gold and one for copper. Companies from all over the world can now invest without worries since the lifting of US sanctions.…

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