Ethiopia’s government says it is considering significant economic reforms as part of an effort to ease the country’s foreign currency shortage.
Tanzania’s National Bank of Commerce has been fined 1 billion Tanzanian shillings (US$435,000) after failing to establish its own data centre.
Kenya has sold its first export of crude oil to a Chinese state-owned petroleum multinational firm.
The World Bank says Tanzania’s economy grew by 5.2 percent in 2018, contradicting the country’s finance minister who told parliament last year that growth stood at 7 percent.
Last year, the geopolitical landscape in the Horn of Africa was turned on its head with the signing of a peace deal between long-time war enemies, Eritrea and Ethiopia. The peace agreement sent a ripple effect throughout the entire peninsula
Ethiopian prime minister Abiy Ahmed has defended his reform policy and issued a strong warning to anyone interested in toppling his government following a coup attempt in the Amhara region.
Tanzania and Zambia have settled plans to build a $1.5 billion oil pipeline between the two countries, according to Tanzania’s energy minister.
Kenya President Uhuru Kenyatta has announced the country will introduce a new generation of banknotes in an effort to curb corruption.
Keyna has requested a loan of $750 million from the World Bank to fund housing, agriculture and other development projects.
Tanzania has refused to authorise the publication of a report by the International Monetary Fund (IMF) that criticises the government’s policies and their impact upon the economy.