KAMPALA, January 25, 2023: Uganda’s oil industry registered another key milestone on January 24, 2022, with the launch of the spudding (commencement of drilling of the oil wells) for the Kingfisher oil field. CNOOC Uganda Limited operates the Kingfisher field on behalf of the Joint Venture Partners TotalEnergies E&P and Uganda National Oil Company (UNOC). […]
Samuel Nabwiiso Intra-regional trade within the East African Community (EAC) has registered an upward trajectory, standing at USD10.17 billion by the end of September 2022. The intra-EAC trade, accounting for imports and exports in the 7 EAC Partner States, grew from 13% in 2019 at a value of USD 7.1 billion to 15 % in […]
The Government of China has granted an opportunity for exporters in Ethiopia to export duty-free some 1,644 types of products to China. The duty-free export privilege given to Ethiopia by the Chinese government doesn’t require Ethiopia to reciprocate or allow any Chinese products imported duty free to Ethiopia, according to Ethiopia’s Ministry of Trade and […]
The Executive Board of the International Monetary Fund (IMF) has completed the fourth review of the Extended Credit Facility (ECF) arrangement for Somalia. The Board’s decision now enables the immediate disbursement of US$ 8.9 million, bringing Somalia’s total disbursement under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) to US$ 393.2 million. […]
The African Development Bank and several partners will hold a forum in Kigali, Rwanda on 14 December 2022 to unveil the newly launched African Pharmaceutical Technology Foundation (APTF). The forum will take place during the 2nd International Conference on Public Health in Africa which started on December 12 and runs until 15th. In June this year, the […]
The Sustainable Development Fund for Africa (SEFA) has approved a $10 million grant that will add 50MW of geothermal energy to Ethiopia’s power system. The Tulu Moye Geothermal Operations PLC (TMGO) project entails developing and operating a 50MW power plant in Ethiopia under a build-own-operate transfer structure. The programme provides for the second phase of an […]
Canada-based 4th Resource has been awarded the reconnaissance license for a geothermal project in Ethiopia, the first license to be awarded under the 2019 geothermal regulations. 4th Resource announced on Tuesday that it had been awarded a geothermal reconnaissance license by the Ministry of Mines of the Federal Democratic Republic of Ethiopia (FDRE). “This is […]
Ethiopia’s envoy to the United States says American investors need to explore opportunities in the energy and agriculture sectors which are flourishing in his country. Dr. Seleshi Bekele Awulachew who is the Ambassador Extraordinary and Plenipotentiary of Ethiopia to the USA speaking in Los Angeles extolled the benefits of doing business in Ethiopia. He said multiple […]
Prime Minister Abiy Ahmed announced the Ethiopia’s digital economy registering an encouraging result in the economic and social sphere of the country. The prime minister said that Ethiopia has been working to connect people to the internet service and improving its quality in the past four years in a speech he made at the 17th […]
African states have been challenged to set up innovative and inclusive institutions capable of designing and implementing effective industrial policies and processes that will advance socio-economic transformation. A joint Statement of the AUC, AUDA-NEPAD, UNIDO, UNECA on the occasion of the Africa Industrialization Day indicated that the prolonged effects of the COVID-19 pandemic, the pressing […]
The private sector has been challenged to move beyond policy and advocacy towards increased levels of entrepreneurship. Various participants at the “Industrializing the SADC Region: Sharing Strides, Drawbacks and Impact” event convened by the African Union Southern Africa Regional Office (AU-SARO) as part of the activities of the Africa Industrialization Week 2022 commemorative held in […]
Victoria Motors Uganda Ltd and EnviroServ have Commissioned the first fleet of 34 trucks that will be collecting and transporting oil waste from the Tilenga Region of the Albertine Graben. The Oil waste will be transported to EnviroServ Oil Waste Management Plant at Nyamasoga in Hoima District. Açcording to Dickson Mwesigwa, the Victoria Motors Uganda […]
Seventy percent of the Us Dollars 967.7 million Somalia budget approved by the cabinet on Tuesday will be provided by donors. This is an increase of Us Dollars 50 million from the 2022 budget. The Somalia cabinet sitting on Tuesday and chaired by Prime Minister Hamza Abdi Barre approved the budget for the 2023 fiscal […]