Monthly Archives: August 2019

Qatar to build new port in Somalia

Via: Al Jazeera

Qatar plans to build a new seaport at Somalia’s Hobyo, a potentially strategic investment in an area of East Africa fiercely contested by Gulf rivals. Hobyo, in the central region of Mudug, is an important Somali port owing to its proximity to the Bab-el-Mandeb Strait, which is one of the most important sea crossing points in the world, with the potential for access to international markets. The small but wealthy Gulf state has looked to strengthen ties with Somalia, donating a fleet of 68 armoured vehicles this year and airlifting Mogadishu’s mayor to Doha for emergency medical treatment last month after an ultimately fatal attack by al-Shabab. Somalia refused to take sides after Saudi Arabia and its allies imposed a political, trade and transport boycott on Qatar in mid-2017 over accusations that it supports armed groups, a charge Doha denies.

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African Development Bank signed grant for the implementation of free trade agreement

Via: Public

The African Development Bank Group on Monday signed a $4.8 million institutional support grant to the African Union (AU) for implementation of the African Continental Free Trade Area (AfCFTA). The agreeement is a bold project that will integrate the economy of 55 states boost the infraestructure and intra-african trade. The agreement is the largest in the world, with a total GDP of 2,5 trilion dollars.

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