Djibouti has agreed to a proposal made by Ethiopia to acquire a share of its port, though the size of the stake is unclear.
To finalize the deal with Djibouti, Ethiopia is agreeing to trade shares in its major firms, including Ethiopian Airlines. More than 95% of Ethiopia’s import and export trade passes through Djibouti’s Port.

Nigeria’s leather industry has the potential to generate over 600 million dollars annually but after a collapse of the manufacturing sector in the 90s, entrepreneurs are struggling to source materials for their products.

Femi Olayebi, founder of FemiHandbags and the annual Leather Fair is providing a platform for designers and other industry players to showcase their work and discuss the challenges facing the industry with the aim of improving quality and growing exports.


Djibouti lies more than 2,500 miles from Sri Lanka but the East African country faces a predicament similar to what its peer across the sea confronted last year: It has borrowed more money from China than it can pay back.

In both countries, the money went to infrastructure projects under the aegis of China’s Belt and Road Initiative. Sri Lanka racked up more than $8 billion worth of debt to Chinese sovereign-backed banks at interest rates as high as 7 percent, reaching a level too high to service. With nearly all its revenue going toward debt repayment, last year Sri Lanka resorted to signing over a 70 percent stake and a 99-year lease to the new Chinese-built port at Hambantota.


The Universal Postal Union (UPU), an agency of the United Nations has officially rolled out a digital financial service project targeted to reach around 800,000 people across Africa, Asia, and the Pacific under its Financial Inclusion Technical Assistance Facility (FITAF) in 2019.

This was born out of a need to reduce the number of people still unbanked around the globe, with data showing 31% of adults are not financially included in the world economy. Data also shows that Africa, contributes 17 % to the total number of unbanked adults around the world, with Asia and Pacific accounting for 38% of unbanked adults.

Towards providing financial inclusion for these unbanked adults, UPU would first launch this programme in Benin, Côte d Ivoire, Ghana, Rwanda, while also focusing on the digitalization of postal financial services.

Bishar A. Hussein, UPU Director General, while speaking at a panel session during UNCTAD’s Africa eCommerce Week in Nairobi, said the UPU was “acting concretely to develop digital finance through the Post on the ground, to the benefit of the under-served population and businesses.”

“We are building partnerships with international donors and the private sector to support the Posts in their digital journey,” added the Director-General.


The World Bank has approved a $20m package to support Djibouti in eliminating slums and improving living conditions for people in urban areas of the East African country.


The World Bank announced today new support for 6,000 potential youth and women entrepreneurs, as part of Djibouti’s efforts to promote entrepreneurship as an engine of growth and job creation. With a US$15 million credit from IDA, the World Bank’s fund for the poorest countries, the project will encourage new entrepreneurs with a combination of […]