Browsing: Egypt

Football fans await the thrill, but what does the competition offer to businesses, football clubs and players, organizers, and the Cameroonian government?

Cameroon has already invested almost US$4 billion in infrastructure. Two new stadia, roads, and modern infrastructure have been built to connect the six stadia that the event will be held. The other four stadia have also been renovated.

The investment has offered short-term employment opportunities to local engineers and labourers, especially the youth, in a country where 40 per cent of the population lives below the poverty line. …

According to the United Nations, water transports approximately 80 per cent of the total international trade volume. The Suez Canal has cemented its importance in the world.

The waterway transports approximately 12 per cent of global trade. 7 per cent of the world’s oil passes through the connection between the Mediterranean Sea and the Red Sea.

The canal began operations in 1869. It has been a source of foreign exchange and national pride for Egypt. It brings about US$6 billion to the country every year. In 2021, 1.27 billion tonnes of cargo were shipped through the canal. …

China actively honours its commitment to making vaccines a global public good. At the time when Chinese vaccines had just reached the market and domestic supply was tight, China began to supply vaccines to Africa in support of its battle against the pandemic.
By November 2021, China had provided over 1.7 billion doses of Covid-19 vaccine to more than 110 countries and organizations, including 50 African countries and the AU Commission, and is striving to provide an aggregate total of two billion doses by the end of 2021.
In addition, it donated US$100 million to COVAX, which aims at ensuring all countries have access to a safe, effective vaccine.…

In 1991, Ethiopia was among the poorest in the world having endured a devastating famine and civil war in the 1980s and by 2020 it was one of the fastest-growing economies in the world averaging 9.9 per cent of broad-based growth per year.
The GERD will help secure the future water supply not only in the Nile Basin but in the entire region, thereby curbing the occurrence of severe drought and famine.
The flow of the River Nile has been nothing but winding, peacefully meandering its way downstream, oblivious of the decade-old tension that besieges its much-needed waters.
Egypt, Sudan and Ethiopia are neighbours that have been embroiled in a row over the construction of the Grand Ethiopian Renaissance Dam (GERD) by Ethiopia on the Blue Nile causing a diplomatic standoff among the countries.
Being the longest river in Africa, the Nile bears paramount significance across several African nations that …

In June, the Voice of America reported that a bomb had gone off at a market in Tigray at about 1 pm, right when the market would be at its busiest time. At least 43 people were killed and dozens of others wounded.

This was June 22, a day after Ethiopia held its sixth national elections and a fortnight from the commencement of the second filling of the GERD.

Will fighting in Tigray deter Ethiopia’s GERD plans?…

• Morocco’s car sales exceeded 160,000 units in 2021 and creating over 220,000 direct jobs
• The auto industry is also set to contribute as much as 24% to the Moroccan GDP by 2022
• Despite the consequences of the COVID-19 crisis, the industry has gradually recovered this year, selling around 400,000 cars to Europe

Morocco has surpassed South Africa as the biggest exporter of passenger cars on the continent with $7 billion (MAD 65.1 billion) exports made in the car industry at the end of 2018.

New data indicates that the country’s automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.

According to several international experts, Morocco’s auto industry is set to contribute as much as 24% to the Moroccan GDP by 2022.

As of 2021, new passenger vehicles (PCs) recorded an increase of +10.77% with 115,611 units sold, transforming …

• Egypt’s automotive industry is one of the sectors benefiting from the wider economic uplift.
• New vehicle sales in Egypt have recently surged to more than 200,000 units per year, with around half of this figure assembled locally, the whitepaper found.
• The country is home to one of Africa’s largest vehicle fleets with around six million vehicles on the country’s roads, the majority of which are passenger cars (approximately 4.6 million).

A boom in Egypt’s automotive parts industry is being fueled by a burgeoning population, vehicle sales growth and government moves to combat auto emissions, according to a new report highlighting the sector.

The combination of these factors, against a backdrop of post-pandemic economic growth, has accelerated the Egyptian market for car spare parts, accessories, and vehicle components, which is now worth between $1-2 bn, German consultants Africon GmbH say.

This is despite Egypt’s crisis with international companies with whom they …

Barely three months since Tanzania’s incumbent president Samia Suluhu Hassan made a public announcement of her intention to regain investor confidence, the efforts are already bearing fruits.

The president recently said ‘…investors view the country as having an unpredictable investment climate, hostile tax collection, and bureaucracy all of which are scaring investors away.’ As such, she pledged to change the status quo.

“The sixth phase government will take an uncompromising approach on this, and we will start with the blueprint for the improvement of Tanzania’s business climate…” the president announced.

Against the backdrop of the work that has already been done by her government to regain investor confidence a major global financial firm, EFG Hermes, an Egyptian financial services company, has doubled its investment in the country.

Earlier in August, the firm doubled its purchase of CRDB Bank shares, Tanzania’s leading bank in terms of market share. According to a …

The unemployment rate in Egypt recorded 7.3 percent of the total labour force during the second quarter of 2021 according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

In the first quarter of 2021, Egypt’s unemployment rate was at 7.4 percent which marked a 0.1 decrease and a 2.3 percent decrease during the same period in 2020. According to CAPMAS, Egypt’s labour force in Q2 was estimated to be 29.115 million individuals in comparison to 29.284 million individuals in the first quarter which was a decrease of 0.6 percent.

In urban areas, the labour force is estimated to be around 12.981 million persons while in rural areas it is estimated to be 16.134 million persons. The total number of females was recorded as 4.882 million individuals.

According to Egypt’s statistics body, the decline is due to the decrease in both the number of workers and the unemployed as …

Egypt-China ongoing cooperation hits $1.8 billion according to Egypt’s Ministry of International Cooperation.

According to a press statement from the ministry, the cooperation is directed towards the execution of several development projects across various sectors such as education, electricity, technical education, health and agriculture.

Egypt has carried out over 1,100 training programs with China over a period of four years which has benefited over 4,000 government officials. This is in addition to 25 training programs in high priority fields which benefited government units in the fields of health, water resources, population and agriculture.

Egypt’s Minister of International Cooperation Rania Al-Mashat said that the ministry is keen on enhancing the exchange of knowledge, technical assistance and expertise within the framework of its international partnerships with multilateral and bilateral development partners while supporting the country’s vision in building human capacity.

The ministry is working towards advancing economic cooperation with bilateral and multilateral …