AGP Executive Report
Last update: 6 hours agoRed Sea Security: Djibouti, Ethiopia, Somalia and Yemen met in Nairobi to boost maritime law enforcement, focusing on faster information-sharing and coordination against piracy, smuggling and illegal fishing—amid wider disruptions from the Strait of Hormuz. Piracy Update: The IMO says six vessels are now held by pirates/armed groups in the Gulf of Aden, with more than 90 seafarers captive after the Aug. 20 hijacking of the tanker Seamull (Sibu 1), urging immediate release. Energy Costs for the Region: Morocco’s oil and gas import bill rose by $2.2bn between March and August 2026 due to the Hormuz crisis; Djibouti recorded about $1bn in higher fuel costs. Power Infrastructure: Ethiopia’s Koysha Hydroelectric Project needs an extra €500m to finish; GERD supplied 52% of national electricity in 2018, and Koysha is 77% complete with completion targeted for 2027. Islamic Finance Push: An interview highlights Ethiopia, Kenya and Tanzania as strong candidates for interest-free banking growth, citing mobile-money reach and demand for Shariah-compliant products. Agribusiness Exports: Ethiopia is targeting global banana exports with a quality push and new financing/market-access efforts, including expanding beyond current destinations like Djibouti and Somalia.
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