COPENHAGEN, Aug 9 (Reuters) - A.P. Moller Holding, which controls Danish shipping giant A.P. Moller-Maersk, said Wednesday it has launched a new fund that will invest in infrastructure in Africa. The fund, which was launched with pension funds PKA, PensionDanmark and Medical Doctors' Pension Fund, has received commitments of $550 million and aims to raise $1 billion. The … [Read more...]
Somalia Appeals To UN Court in Maritime Spat With Kenya
By Mohamed Sheikh Nor (Bloomberg) Somalia, which has mainland Africa’s longest coastline, plans to pursue its case in a maritime dispute with Kenya at the International Court of Justice next week, Information Minister Mohamed Abdi Maareeye said. The Horn of African nation is trying to capitalize on its natural resources as it seeks to rebuild an economy decimated by … [Read more...]
Kenya’s Mombasa Port Sacks 27 Strike Leaders
By Joseph Akwiri MOMBASA, July 4 (Reuters) - East Africa's biggest port in the Kenyan city of Mombasa said on Saturday it had dismissed 27 workers it believed were behind a strike this week that paralysed operations for two days and cost the port at least $2 million. Over 2,000 workers went on strike on Wednesday and Thursday in protest against higher deductions for the … [Read more...]
Tanzania Dreams Big With Major Port Project
By Edith Honan BAGAMOYO, Tanzania, March 15 (Reuters) - In its heyday, Bagamayo was a gateway to the heart of Africa for colonisers, with trade goods surging in from the Indian Ocean, and timber, ivory and countless slaves exported from the east coast harbour. Then Bagamoyo, which looks out towards the island of Zanzibar, fell on lean times for more than a century. Now … [Read more...]
Maersk Targets Africa Port Accords After Winning Ivory Coast Bid
By Mike Cohen (Bloomberg) -- A.P. Moeller-Maersk A/S, owner of the world’s largest container line, aims to win more African port contracts after a group to which it belongs was selected to build and run a container terminal in Ivory Coast. Maersk has operations in more than 40 African nations and generates about 10 percent of its sales in and around the continent. … [Read more...]
Djibouti to Raise $5.9 Billion From Investors for Port Infrastructure
By Maria Levitov (Bloomberg) -- Djibouti is in talks with India, China, Brazil, Russia, and Arab investors to finance infrastructure projects worth $5.9 billion, the head of the country’s ports authority said. The Horn of Africa nation, which is seeking to become a middle-income nation by 2035, plans to develop rail links, ports, and oil and gas pipelines, … [Read more...]
Kenya Goes Big…Massive New Port Will Cost Two-Thirds of Gross Domestic Product
Kenya, East Africa’s largest economy, is moving to spend $25 billion on a second port, a crude pipeline and roads that will open up export routes in a region luring investors with oil and gas discoveries. The Kenyan government has agreed with oil-rich South Sudan to build a 2,000-kilometer (1,243-mile) pipeline to the northern Kenyan coastal town of Lamu. Early-stage … [Read more...]