economy

ECA to scale up assistance on poverty, vulnerability reduction – etbaba.com

African policymakers have recommended strategic policy mandates for the United Nations Economic Commission for Africa (ECA) to support member States in tackling poverty and vulnerability for the COVID-19 recovery and delivering a resilient future for all. In the face of interlocking global crises, they issued their recommendations on 18 November after the fourth session of …

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UN agency establishes $30 billion debt sustainability fund for Africa – etbaba.com

The United Nations Economic Commission for Africa (UNECA) announces at COP 26 it is establishing a Liquidity and Sustainability Facility (LSF) that could reach $30 billion to support sovereign African Eurobond liquidity and ensure debt sustainability. The United Nations Economic Commission for Africa (ECA) announced the establishment of The Liquidity and Sustainability Facility (LSF) that …

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Eastern African sub-region to grow 4.9 percent in 2021 – etbaba.com

A new report produced by the African Development Bank says the Eastern African sub-region’s economy will grow by 4.9 percent in 2021. “The region’s economic growth is expected to recover to an average of 4.1 percent in 2021 and further to 4.9 percent and 5.6 percent in 2022 and 2023 respectively, from the 0.4 percent …

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Eastern Africa experts discuss COVID-19 economic impacts in Kigali – etbaba.com

Experts assembled in Kigali, Rwanda to reflect on COVID-19 economic impacts and resilience experiences at the sub-continental 25th meeting of the intergovernmental committee of senior offcials and experts in Eastern Africa. Opened this morning under the theme, “Strengthening resilience for strong recovery and attracting investments to foster economic diversification and long term growth in Eastern …

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Andela Announces $200 million investment led by SoftBank – etbaba.com

Andela, the global network for remote engineering talent, today announced $200 million in Series E financing that values the company at $1.5 billion. The round was led by Softbank Vision Fund 2* with participation from new investor Whale Rock and existing investors including Generation Investment Management, Chan Zuckerberg Initiative, and Spark Capital. Lydia Jett, Founding …

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Djibouti based investors to establish abattoir in Ethiopia – etbaba.com

In a bid to best exploit & add value to the untapped massive livestock resource in Ethiopia, Djibouti based investors from different African countries have made a three days investment visit deciding to establish state of the art abattoir. When the new abattor goes operational, the processing plant will have an initial processing capacity of …

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Morocco to establish $3.7 billion fertilizer factory in Dire Dawa, Ethiopia – etbaba.com

Ethiopian gas and Moroccan phosphoric acid natural resources, the Government of Ethiopia signed a Joint Development Agreement with OCP Group, a Moroccan State-Owned phosphate rock miner, phosphoric acid manufacturer and phosphate fertilizer producer to implement a fertilizer project in Dire Dawa. The project will have an initial estimated investment of approximately $2.4 billion during the …

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