Economy News and Updates | Africa.

  • Siemens Seeks to Close Ethiopia’s energy infrastructure gap by installing a solar-hybrid plant, supplying reliable, sustainable and affordable electricity to the FruitBox farm as well as to the surrounding communities.
  • The Competition Authority of Kenya (CAK) will assume powers to punish big companies for delay or non-payments for goods and services supplied by the small businesses if MPs approve proposed legal changes.
  • Local industrialists have claimed that the importation of rival products, high cost of electricity and imported raw materials and operating below capacity were hampering their competitiveness on local and continental markets.
  • Trade and Development Bank is seeking entry into Ghana as a first step to reaching other countries in West Africa to support the subregion’s economic development and trade agenda.
  • The Egyptian General Petroleum Corporation (EGPC) formed a new committee to valuate the assets offered by the Ministry of Public Enterprise Sector to settle the debts owed by the ministry’s subsidiary companies to the EGPC.
  • Sudan said it would receive a $305 million loan from an Arab fund to help tackle the country’s worsening economic crisis led by soaring food prices and foreign currency shortage.
  • Air India is set to resume direct flights between Mumbai and Nairobi on November 27 following a two-month delay. India’s national carrier is scheduled to fly four times a week between Nairobi and Mumbai and will cut travel time from between 10 and 11 hours to six hours.