By The East African Two tankers carrying the maiden consignment of petroleum products directly imported by Uganda will dock at the Mombasa port next week, marking an end to the monopoly long enjoyed by Kenya oil marketers. The imports are part of a negotiated deal between Uganda National Oil Company (Unoc) and Vitol Bahrain that

Cargo trucks queue as the Process of removing Private Equipment and Idle Containers which have overstayed at the Port of Mombasa, Kenya By The East African Mombasa port bypassed its main Eastern African competitors, Djibouti and Dar es Salaam, in the latest World Bank global ports index over ship delays and non-tariff barriers. According to

U.S. Dollar and Japan Yen notes are seen in this June 22, 2017 illustration photo. Reuters/Thomas White By Reuters The dollar was steady on Monday ahead of a fresh U.S. inflation reading that will likely influence the interest rate outlook, while the yen languished near the 160 level, drawing verbal warnings from Japanese authorities as

A section of the East African Crude Oil Pipeline on the Ugandan side. Photo/Pool By The East African More than a year since Chinese financiers and the developers of the East African Crude Oil Pipeline (Eacop) entered negotiations to bankroll the project’s debt, a massive hole remains in the financing structure as the loans amounting

South Korean President Yoon Suk Yeol speaks during the 2024 Korea-Africa Summit in Goyang, South Korea on June 4, 2024.Credit Photo/Reuters By The East African South Korea is dangling market reorientation and technological expertise to gain access to African countries, joining a list of global powers wanting a slice of the continent’s resources. But at

By Reuters Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow further, mines minister Mamadou Sangafowa Coulibaly said on Thursday. Ivory Coast, the world’s top cocoa producer, is seeking to develop its long-neglected mining sector to diversify its sources of income. Gold

Photo taken on Nov. 30, 2023 shows the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria. (Xinhua/He Canling) By Xinhua News Agency OPEC has made the latest decisions to “achieve and sustain a stable oil market, and to provide long-term guidance and transparency for the market, and in line with

Chinese President Xi Jinping shakes hands with Bahrain’s King Hamad bin Isa Al Khalifa in Beijing, capital of China, May 31, 2024. Xi held talks with Hamad at the Great Hall of the People in Beijing on Friday. Hamad, who is in China on a state visit, attended the opening ceremony of the 10th ministerial

Zhang Jinlong, chairman of the UK Chinese Business Association, speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the

By Reuters Africa’s economic growth is set to accelerate to 3.7% this year and 4.3% next from 3.1% in 2023, African Development Bank (AfDB) President Akinwumi Adesina said on Wednesday, expressing hope that the bank can boost infrastructure investment with IMF help. “African economies are experiencing great resilience despite the challenges posed by climate change,