The Port of Djibouti has been ranked as the top container port in Africa and 61st globally by the World Bank and IHS Markit’s latest global Container Port Performance Index. The recognition comes amid Djibouti’s US$15 billion investment plan for ports and infrastructure development, as the East...
Kenya’s economy is set to return to growth in 2021 following a projected contraction this year due to the COVID-19 pandemic, the World Bank has found. The report said that the coronavirus crisis would cause a 1-1.5% contraction in East Africa’s largest economy, pushing 2 million...
Mauritius has been ranked as the highest performing African economy in the World Bank Group’s latest Doing Business report, but Nigeria came out as one of the most improved nations in the 2020 edition. The annual research looks at 190 nations and evaluates the business environment...
Kenya Electricity Generating Company (KenGen) and a Chinese firm have signed a deal with Ethiopian Electric Power (EEP) to develop a geothermal power project in Ethiopia. The Kenyan electricity firm will be responsible for drilling at the project, along with Shandong Kerui Oilfield Service Group. The...
Rwanda has been named the best country in Africa for doing business by the 2019 World Bank Ease of Doing Business report, in conjunction with Africa.com. The East African nation’s economy is expanding on par with the fastest in Africa, with an average annual growth rate...
Zimbabwe’s Finance Minister Mthuli Ncube has revealed that the country aims to clear US$2 billion in arrears with the World Bank and African Development Bank (AfDB) in the next 12 months. Ncube said in an interview with Reuters that its arrears clearance programme has secured the...