News

IMF agrees to US$123 million credit facility for Niger.

12-24-2011 | 05:56:28
The International Monetary Fund has reached a preliminary agreement with Niger on a $123 million extended credit facility program, IMF chief Christine ...

Tanzania secures Sh434 billion from AfDB and World Bank.

12-22-2011 | 08:34:40
Two multilateral institutions, the African Development Bank and the World Bank have given Tanzania $255.2 million (Sh434 billion) to help support ...

Shell shuts Nigerian oil platform after leak.

12-22-2011 | 08:22:42
Royal Dutch Shell is shutting down its 200,000 barrels per day (bpd) Bonga oilfield off the Nigerian coast after a leak occurred while loading a ...

China rail company signs US$1.2 billion Ethiopia project.

12-22-2011 | 08:20:31
A subsidiary of China Railway Construction Corp Ltd has signed an agreement with Ethiopia Railway Co to cooperate on a $1.19 billion rail project ...

GTI Microfinance bank board approves N150 million raise in share capital

12-22-2011 | 08:11:12
The board of directors of GTI Microfinance bank limited has approved an increase in share capital from N50 million to N150 million for a state license. ...

Sudan to invite bids to run six new oil, gas blocks.

12-21-2011 | 11:43:55
Sudan will invite bids from firms to operate in six new oil and gas blocks early next year, the oil minister has said, as the country moves to compensate ...

UNESCO organized safety training for East African journalists.

12-21-2011 | 11:35:37
UNESCO’s International Programme for the Development of Communication (IPDC) sponsored an inaugural safety and protection training workshop for East ...

Libya awards oil supply in 2012 to major traders.

12-21-2011 | 11:27:03
Libya has agreed to supply four major European trading houses with crude oil in 2012, a senior National Oil Corporation (NOC) source told Reuters ...

AfDB co-financing to CIF projects could top US$600 million in 2012.

12-21-2011 | 11:02:49
The AfDB's Clean Technology Fund (CTF) pipeline for 2012 includes concentrated solar power (CSP) projects in Kom Ombo, Egypt and Ouarzazate, Morocco. ...

Ugandan cocoa exports projected to rise next year.

12-21-2011 | 10:55:37
Uganda is projecting a 12 per cent jump in its cocoa exports in the 2011/2012 (Oct-Sep) season compared with the last season, as newly planted trees ...

Nigeria to stop cement importation in 2012.

12-21-2011 | 10:45:28
President Goodluck Jonathan has set out plans to stop the importation of cement by the first quarter of 2012 as Lafarge begins production of 2.5 million ...

Oil firms to participate in Sudan oil dispute talks.

12-21-2011 | 10:42:39
Sudan and newly independent South Sudan have agreed to include international oil companies in talks to resolve a dispute over how much the new African ...

Kenya's new port project takes off in 2012.

12-21-2011 | 10:29:01
A Kenyan port project linking three countries will start next year, Prime Minister Raila Odinga said.The Lamu-Southern Sudan-Ethiopia Transport Corridor, ...

NSE eyes opportunities in N800 trillion ETF market

12-21-2011 | 10:08:54
The Nigerian Stock Exchange, NSE, said it has put machineries in motion to harness the opportunities inherent in the Exchange Traded Fund, ETF, market, ...

UBA customer deposits down 55% as clients eye higher-yielding investments

12-21-2011 | 09:55:14
United Bank of Africa (UBA) customer deposits have dropped by more than half as customers withdrew their savings from the lender to seek higher-yielding ...

AfDB co-financing to CTF projects could top US$600 million in 2012.

12-21-2011 | 08:34:13
The AfDB's Clean Technology Fund (CTF) pipeline for 2012 includes concentrated solar power (CSP) projects in Kom Ombo, Egypt and Ouarzazate, Morocco. ...

Developing nations should boost economic defences: IMF

12-20-2011 | 11:57:27
The director of the International Monetary Fund Christine Lagarde urged developing countries on Monday to shore up their defences, especially foreign ...

AfDB finances US$107.4 million Transport Infrastructure Project in the Gambia.

12-20-2011 | 11:46:05
The Board of Directors of the African Development Bank (AfDB) Group approved, on 16 December, funding of U.S.$ 107.4 million for the construction ...

US opens market for french beans exports from Kenya

12-20-2011 | 11:44:30
The US has allowed Kenya to start exporting french beans into its market following five years of intense lobbying by fresh produce growers, opening ...

Zambian Breweries completes US$70 million rights offer

12-20-2011 | 11:40:33
Zambian Breweries Plc has successfully completed its Rights Offer aimed at raising US$70 million from the capital market.Company corporate affairs ...