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Kenya Railways Dismisses Comparisons Between SGR and Morocco, Ethiopia Projects

rail

Kenya Railways Corporation (KR) has come to the defence of the construction of the Standard Gauge Railway following concerns over the cost compared to other railway projects in the continent. The Corporation Managing Director Atanus Maina says the Standard Gauge Railway (SGR) is built based on the needs of the country which is to primarily ease the moving goods to ...

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Egypt: Medicines Price Increase Comes Into Effect

MED

Health minister Ahmed Emad said the cabinet approved decision to raise prices for 3,000 medicines; as of Thursday. This is the second wave of increasing medicines prices in less than one year. In May 2016, the cabinet decided to raise the medicines prices, less than EGP 30, up to 20%. The increase will reach up to 15% for local medicines ...

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Egypt: Naguib Sawiris Egypt’s Biggest Billionaire Gainer in 2016 – Forbes

egypt

Egyptian business tycoon Naguib Sawiris was Egypt’s biggest billionaire gainer in 2016, according to a report issued by Forbes. The net worth of Naguib’s fortune increased $700 million to reach $3.7 billion. He became Africa’s seventh-richest person after he occupied the 10th position in the previous year. In December 2016, Naguib announced that he would be stepping down as CEO ...

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Algeria: Focus On Sub-Contracting in 2017

contract

“The year 2017 will be that of subcontracting,” Industry and Mines Minister Abdeslam Bouchouareb said Thursday in Setif. The minister also recalled the numerous incentives included in 2017 Finance Act to investors in the subcontracting sector. Paying an inspection visit to a tire production unit under construction in Setif industrial zone, the minister stressed that this unit with a production ...

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Algeria: Second Production Unit of Ain El Kebira Cement Plant Commissioned

cement

Minister of Industry and Mining Abdesslam Bouchouareb has inaugurated, Thursday in Setif, the second production unit of the cement plant of Ain El Kebira (SCAEK), coming under the Algerian public industrial cement group (GICA). According to the explanations given to the minister, this unit, which has a production capacity of 2 million tonnes per year, will allow Algeria to reach ...

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Egyptian Pound Trades Around 18 Per Dollar in Banks

pound

Egyptian pound remained steady at around 18 per dollar in most banks on Sunday. The dollar was sold at the Al Ahli Bank, Banque du Caire and the Central Bank of Egypt at EGP 18.11, while it was bought at EGP 17.86 in all three banks. The rates at Banque Misr stood at EGP 18.1 for selling and EGP 17.85 ...

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Egypt’s Foreign Debt Increase 185 Percent in Three Months

egypt

Egypt’s foreign debt jumped 185% from July to September 2016, according to the monthly report of the Central Bank of Egypt (CBE) on Thursday. The debt amount increased to USD 2.46 bn during the past fiscal year, from USD 863 bn in the previous fiscal year. The three months of July to September witnessed an increase of USD 60 bn ...

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Egypt’s Foreign Debt Increase 185 Percent in Three Months

egypt

Egypt’s foreign debt jumped 185% from July to September 2016, according to the monthly report of the Central Bank of Egypt (CBE) on Thursday. The debt amount increased to USD 2.46 bn during the past fiscal year, from USD 863 bn in the previous fiscal year. The three months of July to September witnessed an increase of USD 60 bn ...

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Algeria: Petroleum Products – Naftal Ambitions to Consolidate Position By 2030

petrol

The National Company for the Marketing and Distribution of Petroleum Products (Naftal) on Monday unveiled the main lines of its development plan which extends until 2030 to strengthen its position in the domestic market. Outlined during a meeting attended by its CEO Hocine Rizou, and CEO of its parent company Sonatrach, Amine Mazouzi, Naftal mainly eyes national autonomy in fuel ...

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Ethiopia: Algerians Keen to Invest

ethiopia

Algerian investors are desirous of tapping the enabling investment climate which Ethiopia has created. This was so said during Ethio-Algerian Business Forum co-organized by the Ethiopian Embassy in Algeria and Oran City Chamber of Commerce and Sectoral Associations. Head of Mission of Ethiopian Embassy in Algeria Ambassador Solomon Abebe on the occasion briefed participants on the investment potentials of the ...

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