Djibouti to sell minority stake in state-owned telco

DJIBOUTI – The government of Djibouti has launched a tender process to partly privatise state-owned carrier Djibouti Telecom, part of a plan to modernise the economy and revamp government firms. “The state will offer a minority and significant portion of its shareholding to a first-rate strategic partner,” the government said in a statement after a cabinet meeting to approve the plan. The telco, one of the last state-owned national monopolies on the continent, has about 410,000 mobile subscribers, according to 2019 World Bank data. It was not known how much…

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African Development Fund backs Ethiopia-Djibouti electricity trade with US$83.6m in grants

DJIBOUTI – The Board of Directors of the African Development Bank Group (AfDB), has approved two grants worth US$83.6 million to boost cross-border trade in electricity between Ethiopia and Djibouti and to deepen integration in the Horn of Africa sub-region. The funds comprise a US$69.65 million grant to Ethiopia and the second grant of US$13.93 million to Djibouti, both sourced from the African Development Fund, the African Development Bank’s concessional financing window. The Ethiopia-Djibouti Second Power Interconnection project will entail the construction of nearly 300 km of interconnector line, 170…

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Kenya’s Geothermal Development Company expands its technical muscle in Africa

KENYA – The Geothermal Development Company (GDC) is committed to building the capacity of geothermal practitioners in Africa as part of its South-to-South solutions strategy. The Company announced this strategy when it received 20 fellows, staff of Djibouti Geothermal Energy Development Authority (ODDEG) who are in Kenya training at GDC’s iconic Menengai Geothermal Project. The fellows are undergoing training in nine key specialized areas in geothermal resource development including drilling operations, environmental sciences, geophysics, geology, and geochemistry. The 29 days training has been funded by the Bundesanstalt fur Geowissenschaften and Rohstoffe…

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IFC and East Africa Bank unveils US$5m trade finance guarantee to support businesses in Djibouti

DJIBOUTI – The International Finance Corporation (IFC), a member of the World Bank Group, has announced a US$5 million trade finance guarantee facility to Djibouti- based East Africa Bank (EAB) to help local companies engage in cross-border trade. The support is a vital engine of economic growth that has been strained by the COVID-19 pandemic, IFC’s trade finance facility guarantee of up to US$5 million under its Global Trade Finance Program (GTFP) will help EAB provide financing to importers and exporters in Djibouti, supporting the local economy and helping maintain…

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Radisson Hotel Group partners with Salaam Properties to debut in Djibouti

DJIBOUTI – Radisson Hotel Group has announced the signing of Radisson Hotel Djibouti, marking the Group’s entry into the country and brings its East African portfolio to 18 hotels and over 2,700 rooms in operation and under development, strengthening its strategic position in the region. This new signing further underscores the Group’ presence as the hotel company active in the most countries on the African continent with close to 100 hotels in operation and under development. The new-build 144-room hotel, scheduled to open in 2024, will comprise not only of…

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East Africa Bank of Djibouti partners with IFC to strengthen its risk and credit framework

DJIBOUTI – The International Finance Corporation, (IFC), part of World Bank Group and Djibouti-based East Africa Bank (EAB), have signed a partnership to help EAB better mitigate financial risks which have been amplified by the COVID-19 pandemic and improve its sustainability. Under the agreement, IFC will help EAB strengthen its risk, trade, and credit management framework and capacities in line with international best practices to ensure it achieves sustainable growth considering the adverse impact of the COVID-19 pandemic on the world economy. EAB is a fully Shariah-compliant bank with seven…

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Djibouti unveils wind-powered desalination plant

DJIBOUTI – French group Eiffage, via its subsidiary Eiffage genie civil, in partnership with Tedagua, a Spanish company specialising in water treatment and a subsidiary of the Cobra group, have constructed a wind powered solar desalination plant in Djibouti. The plant will improve the supply of drinking water in this country in the Horn of Africa, which faces persistent water stress. The seawater desalination plant was inaugurated on March 14th, 2021 by Djibouti’s president, Ismaïl Omar Guelleh. The plant is powered by a nearby wind farm and is one of…

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Power producer KenGen wins US$6.5m tender to drill geothermal wells in Djibouti

DJIBOUTI – Kenya Electricity Generating Company PLC (KenGen) has won yet another international contract to drill three geothermal wells in Djibouti. The geothermal power producer has signed US$6.48 million contract with Office Djiboutien De Development De lenergie Geothermique at a ceremony, in Galla Le Koma, Djibouti which was attended by Kenya’s Energy Cabinet Secretary, Hon. Charles Keter, and KenGen Managing Director & Chief Executive Officer, Rebecca Miano. Speaking during the event, Keter pointed out that African nations shared the common aspiration of delivering electricity to their people. “Although energy access policies have continued…

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Ethiopian Airlines, Djibouti Port & Free Zones Authority to introduce freight transport service

DJIBOUTI – Ethiopian Airlines and the Djibouti Ports and Free Zones Authority (DPFZA) have agreed to launch a freight transport service, which aims to transport more than 400,000 tonnes of goods, mainly from China to Africa, according to African Aerospace. The agreement will help the Ethiopian Airlines to double its existing cargo service. The investment agreement between Great Horn Investment Holding and China Merchants was signed in late 2020. The project represents the final stage in the implementation of the Port-Park-City concept – the full integration of ports, industrial parks, and…

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Accor signs three properties in Djibouti, grows Africa portfolio

DJIBOUTI – Global augmented hospitality group, Accor is expanding its footprint in Africa after signing a management agreement with Kamak Investment to manage its first properties in Djibouti. As part of its ongoing development strategy to expand its presence in sub-Saharan Africa, Accor is setting foot for the first time in Djibouti, with the launch of three hotels under three different brands, namely Pullman Living, Novotel and MGallery. The group is partnering with Kamaj Investments. Initially created as a real estate agency the founder, Houssein Mahamdoud Robleh diversified his business…

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