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OFID supports health and living standards in Malawi
OFID, the OPEC Fund for International Development has signed a US$12 million public sector loan agreement with Malawi for a project aimed at improving health and living standards for circa 125,000 people.
Mauritania rolls out the welcome mat to investors with new iGuide
Mauritania is serious about “rolling out the welcome mat” to foreign direct investment (FDI) following the launch of an online investment guide in the capital Nouakchott on 22 November.
[Egypt] Shifting public funds from infrastructure to investing in people - World Bank report
Egypt has an opportunity to capitalize on current reforms by enabling more private investment in infrastructure and freeing up public funds for investments in people’s education, health and social protection.
Liquid Telecom to invest $400m in Egyptian network infrastructure
Pan-African telecoms group Liquid Telecom has announced that it is investing 8 billion Egyptian Pounds (USD400m) in Egypt over the next three years.
Senegal's industrial park open for business
Forty kilometers from the capital, Dakar, a new industrial park has opened.
[Gabon] Bolloré Logistics starts operations at new logistics hub
Bolloré Logistics has opened a new logistics hub in Lastourville, Gabon.
Experts weigh in on new strategy for financing Africa's infrastructure
A draft report by the United Nations Economic Commission for Africa (ECA) titled, “Attracting Institutional Investors in Africa’s Infrastructure,” has undergone a thorough review by experts from wide-ranging sectors.
Afreximbank signs MoU with Russian Railways and Russian Export Center
The African Export-Import Bank has signed in Moscow a memorandum of understanding with Russian Railways and the Russian Export Center.
[Column] Bob Koigi: Cementing sustainable African cities agenda
The maxim Africa is the future perhaps rings true now more than ever.
AfDB approves €17.96 million Ring-Road project to improve socio-economic growth in Cameroon
The African Development Bank (AfDB) has approved a €17.96 million loan to the Republic of Cameroon to finance the construction of a Ring-Road Project in the North-West Province of the country.
African countries urged to sign the Luxembourg Protocol
The Chief of Industrialization and Infrastructure at ECA has urged the African countries to sign the Luxembourg Protocol because railways are the key to open and free trade across Africa.
Let us make Africa’s infrastructure competitive, Zimbabwean Minister
Zimbabwe’s Transport and Infrastructural Development and Transport Minister has urged the Africa continent to focus on infrastructure development, to ensure it was competitive enough to make a difference.
Mozambique making economic and social progress, AfDB report
According to the latest African Development Bank (AfDB) Country Result Brief, Mozambique has made significant strides despite an economic slump over the past two years.
[South Africa] Accutrak to Expand Market to Mozambique
Accutrak, a North-West technology company in South Africa is looking forward to expanding its customer base during the Trade and Investment Mission to Mozambique this month.
Netherlands invests $9million to rehabilitate roads in South Sudan
The Kingdom of the Netherlands has invested $9 million to improve smallholder farmers’ access to markets by rehabilitating and maintaining roads in South Sudan.
African Development Fund approves $322 million for road upgrading projects in Burundi and Tanzania
The Boards of Directors of the African Development Bank Group have approved S$322.35 million loans and grant to Burundi and Tanzania.
Sustained investment, exports to grow Uganda economy by over 6 per cent, World Bank
The Ugandan economy rebounded strongly to 6.1 per cent in the 2017-2018 financial year.
Power tariffs, Asian imports take a toll on East Africa cement market, report
The East Africa cement market reached a volume of 14.4 Million tonnes in 2017.
McKinsey shows Africa is world’s next big growth market
A new book by McKinsey confirms that Africa is poised for economic acceleration, akin to the Asian boom.
[Morocco] Alstom welcomes high speed line with modern trains
Alstom will be part of the inauguration of the Tangier-Casablanca high speed line with its very high-speed trains supplied and delivered to the Office National des Chemins de Fer Marocain (ONCF).
AfDB approves $40m equity investment in Africa Infrastructure Investment Fund
The Board of Directors of the African Development Bank has approved its third equity investment of $40m in Africa Infrastructure Investment Fund (AIIF3).
[South Africa] SACS Cable to boost connectivity in Africa via Teraco Data Centres
Teraco has announced that clients currently making use of its data centres in Cape Town and Johannesburg are set to benefit from the cross connection to the South Atlantic Cable System (SACS).
RCS-Communication launches new Ka-Band service in South Sudan
RCS-Communication, an ISP in South Sudan, has established the first site for Avanti’s HYLAS 4 high-speed satellite broadband service in-country.
DP World, Rwanda government unveils East Africa’s first inland dry port hub
Global port operator DP World and the government of Rwanda have setup a state-of-the-art logistics hub, located 20 kilometers from the capital city Kigali.
[South Africa] Industrial parks can be turned into special economic zones, Trade Director
The Director-General of the Department of Trade and Industry (the dti), said that with proper infrastructure, utilities, and management, the twenty-six approved Industrial Parks across South Africa can become Special Economic Zones.
Egypt’s private sector wins big at the Africa Investment Forum
Projects from Egypt’s private sector showed strongly at the just concluded Africa Investment Forum during which transactions close to US$50 billion were promoted by sponsors in three days of Boardroom sessions.
[South Africa] Liquid Telecom extends Microsoft Azure from Cape to Cairo
Liquid Telecom has extended the availability of Microsoft Azure from the Cape to Cairo, continuing its lead in the African cloud revolution.
[Kenya] CBK transfers Khs. 800M from General Reserve Fund to Government Consolidate Fund
The Central Bank of Kenya (CBK) announced that it has transferred to the Government Consolidated Fund Ksh.800 million from CBK’s General Reserve Fund (GRF) as at end FY2017/18.
There are business opportunities in China, South African companies
The South African companies that were exhibiting at the 1st China International Import Expo (CIIE) in Shanghai China last week said that there are business opportunities for South African companies in China.
SGTD implements N4 system in its terminal to boost operations across East Africa
Navis, a provider of operational technologies and services across the shipping supply chain has announced that Société de Gestion du Terminal à Conteneurs de Doraleh has implemented the N4 terminal operating system at its facility.
AfBD, Africa50 to finance Kinshasa - Brazzaville Ink Landmark Bridge Project
On the sidelines of the Africa Investment Forum, the African Development Bank and Africa50 have signed an agreement with the Democratic Republic of Congo and the Republic of Congo to develop and finance the first road-rail bridge project linking their capitals – Kinshasa and Brazzaville.
South Africa’s investment climate is improving, Trade and Industry Minister
The Minister of Trade and Industry, Dr Rob Davies, says foreign investment if targeted and nurtured can drive economic growth and in turn contribute to much needed job creation and economic inclusion for all.
[Column] Sachen Gudka: Why Kenya’s port effectiveness is crucial for growth of industries
It is quite telling that presently, the port of Mombasa is losing a chunk of Rwanda’s business to Dar es Salaam Port.
[Nigeria] ECOWAS Commission restates commitment to strengthening regional customs union
The President of the Commission of the Economic Community of West African States (ECOWAS) Jean-Claude Kassi Brou has restated the commitment of the Commission to strengthening regional Customs union and an infrastructural upgrade that can sustain the renewed integration efforts within the community.
Oracle accelerates digital transformation in South Africa with new innovation hub
Oracle has today announced the opening of an Innovation Hub in Johannesburg, a first for Oracle in Africa that will help drive the adoption of emerging technologies across the country’s corporates, public sector and academia.
Cuban Chamber of Commerce willing to assist SA companies trade with their counterparts
The Cuban Chamber of Commerce has expressed its willingness to assist South African companies and investors who are willing to trade and invest in different sectors of the economy.
[Uganda] AfDB approves Kampala-Jinja Expressway project
The African Development Bank (AfDB) has approved a sovereign loan of US$229.5 million to the Republic of Uganda to finance phase one of the Kampala-Jinja Expressway project.
AMPG eyes development of low cost housing in Nigeria
International real estate investor and developer, Arthur Mackenzy Properties Group (AMPG), is eyeing development opportunities in Nigeria in association with local government bodies and businesses.
[Interview] Raza Hasnani, Head of Infrastructure Investments, Africa50 Fund
The AfDB launched its Room2Run initiative last month which effectively freed up $700m off the bank’s balance sheet. We spoke to Raza Hasnani from Africa50 fund who helped structure the deal.
[Nigeria] MDXI, Asteroid partner to launch West Africa’s carrier-neutral internet exchange
West Africa’s largest data centre provider, MDXI and global IXP platform provider, Asteroid have partnered to launch a carrier-neutral Internet Exchange Point for West Africa.
Intertek to build an IT products’ testing and certification lab in Egypt
Egypt’s ministry of ICT has signed an agreement with Intertek, specialized in inspection, physical tests, and certification.
[Malawi] African Development Bank approves $15m grant for water Supply and sanitation project
The African Development Bank Group has approved a US$15 million grant from the African Development Fund for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people.
OFID signs loan agreements of $80 million with Benin, Niger and China
OFID – the OPEC Fund for International Development – has signed public sector loan agreements totaling more than $80 million. The agreements were signed by OFID Director-General Suleiman J Al-Herbish and ministers from the beneficiary countries.
[Kenya] Tatu City Industrial Park records sustained demand for space
The first phase of Tatu Industrial Park is nearly sold out, as demand for high-quality land for manufacturing, logistics and warehousing in the northern growth corridor of Nairobi increases at a record pace.
AU names Raila Odinga High Rep for Infrastructure Development, Africa
The Chairperson of the African Union Commission, Moussa Faki Mahamat, has appointed Raila Odinga of Kenya as High Representative for Infrastructure Development in Africa.
Angola spent $96 billion on infrastructure in 13 years, data
The Angolan Government invested between US $ 99.5 billion and US $ 99.5 billion between 2002 and 2015 in the construction and reconstruction of roads, bridges, railways, airports, ports, dams, power distribution networks electricity.
Why China attracts Africa
The African Agenda 2063 is a well spelt out strategic framework for the socioeconomic transformation of the continent over the next 50 years. China’s President XI Jinping has characterized china’s development agenda in Africa as a win-win deal for its aspirations to become the global trade leader.
Kenya vision 2030, the geopolitics of financing development
Unveiled a decade ago in June 2008, the Kenya Vision 2030, the country’s development blueprint, has steered Eastern Africa’s largest economy to unprecedented heights. But the future of the blueprint is caught in a geo-political mire on three fronts.
Egypt Aviation Ministry finalizes steps to inaugurate Sphinx Airport
Egypt’s Aviation Ministry has begun finalizing the preparations to open the Sphinx Airport, west of Cairo to become the 33rd Egyptian airport.
DP begins construction of Berbera port in Somaliland
Construction work on the development of the multi-purpose Berbera port in the Republic of Somaliland has started with a special ground-breaking ceremony to mark the occasion.
Kenya’s economy poised to rebound in 2018, World Bank
Kenya’s real gross domestic product (GDP) growth is projected to rise to 5.7% in 2018—up from 4.9% in 2017—and continue to increase steadily to 5.8% in 2019, and 6.0% in 2020, according to the World Bank’s 18th Kenya Economic Update (KEU).
Pangea launches $50,000 ShelterTech 2018 accelerator program in Kenya
Habitat for Humanity’s Terwilliger Center for Innovation in Shelter, BDO EA and Pangea have launched the ShelterTech 2018 program in Kenya.
Dangote calls for deepening of African economy through free trade
Aliko Dangote has in London called for conscious efforts at deepening African regional market by African investors and governments to aid rapid growth and development of the Continent’s economy.
SatADSL and Avanti launch commercial Ka-Band broadband in Africa
Commercial Ka-band broadband services in Sub-Saharan Africa have been launched by SatADSL, bringing cost-effective coverage to communities and businesses.
[SA Business Week] Key sectors appointments and a busy air route
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.
[Tanzania] DCG, TAZARA seal deal to develop a new dry port
The Dar es Salaam Corridor Group (DCG) and the Tanzania-Zambia Railway Authority (TAZARA) have entered into a partnership agreement for the development of a Dry Port at the terminal end of TAZARA in New Kapiri Mposhi, Zambia.
[South Africa] Paul Ssali appointed to Engineers Without Borders BoD
Paul Ssali from global engineering and infrastructure advisory company Aurecon, was recently appointed to the Engineers Without Borders SA’s Board of Directors.
Radisson RED to debut in Abidjan, Ivory Coast
Radisson Hospitality AB, publicly listed on Nasdaq Stockholm, Sweden and part of Radisson Hotel Group, has announced the signing of Radisson RED Hotel Abidjan Plateau, Ivory Coast.
Marriott International reveals expansion plans across Africa
From the Africa Hotel Investment Forum (AHIF) in Nairobi, Kenya, Marriott International today announced rapid expansion plans across Africa. Strong demand for select-service brands and conversion opportunities are driving the momentum of growth for the company, amplified by five new hotel signings.
[Nigeria] NPA, Guangzhou Port Authority in deal to bolster efficiency
The Nigerian Ports Authority (NPA) has entered into an agreement with the Chinese Guangzhou Port Authority to boost the efficiency of port operations in the West African country.
Telecom Egypt acquires 50% of EISCC for $15m
Telecom Egypt announces that its board of directors has approved the acquisition of 50% of its subsidiary Egyptian International Submarine Cable Company at a value of USD 15mn.
[Liberia] AfDB approves $1m to boost private sector in wood industry
The African Development Bank’s Fund for African Private Sector Assistance, has approved a grant of US $1 million to Liberia, to provide technical assistance to its fast-growing wood processing industry.
Blanché Hanstein appointed Aurecon’s new manager for Namibia
Global engineering and infrastructure advisory company Aurecon has appointed Blanché Hanstein as the new Office Manager of its Windhoek Office in Namibia.
ATI, Marsh offer $95 million bank surety for Tanzania rail project
Marsh has provided a $95 million innovative bank surety solution to Yapı Merkezi Construction and Industry Inc., to support the construction of a new high-speed electric railway line in Tanzania.
Aurecon appoints Graça Sim-Sim country manager for Rwanda
Global engineering and infrastructure advisory company Aurecon has appointed Graça Sim-Sim as its Country Manager for Rwanda.
Africa50 names five new independent board members
Africa50 shareholders have approved the expansion of the Board of Directors to include at least half independent directors.
Africa50 inaugurates its headquarters in Casablanca
On Friday, the pan-African infrastructure investment platform, Africa50, inaugurated its headquarters in Casablanca
Orange invests in MainOne’s West Africa submarine cable system
Telecommunication company Orange and MainOne Cable Company have signed an agreement allowing for a major investment by Orange in the West Africa submarine cable system, MainOne.
[South Africa Business Week] Monash South Africa is now AdvTech owned
ADvTECH has announced the acquisition of Monash South Africa (MSA), a leading South African private tertiary education institution with students from more than 50 countries.
ICAEW says remittance income will drive economic growth for Africa
The report, commissioned by ICAEW and produced by partner and forecaster Oxford Economics, provides a snapshot of the region’s economic performance. The regions include; East Africa, West, and Central Africa, Franc Zone, Northern Africa, Southern Africa.
NIB and Afreximbank sign €100 million loan facility
The Nordic Investment Bank (NIB) and the African Export-Import Bank (Afreximbank) have signed a 10-year loan programme of € 100 million to finance various infrastructure projects in African countries.
Comsol and Samsung lead SA into a brave new era of 5G
Comsol Networks, a leading provider of enterprise-grade wireless infrastructure, and Samsung South Africa have lit up Vilakazi Street in Soweto with a live 5G pilot network.
China Mobile International Limited opens South African office
China Mobile International Limited (CMI) has opened a South African office in Johannesburg.
International urbanization experts discuss urban modern law in Kenya
Experts from UN-Habitat, United Nations Economic Commission for Africa, African Union Commission, United Cities and Local Governments of Africa, members of academia, representatives from civil society and local governments met in Nairobi to chart out the process of elaborating a Model Law.
[Ethiopia] UNIDO Director General praises China - Africa cooperation
The Director General of the United Nations Industrial Development Organization (UNIDO), LI Yong, congratulated the Government of Hunan province for its continuous efforts to promote investment in Africa under the Chinese Government’s Belt and Road Initiative.
Angolan reforms to grow Tourism, Hospitality sectors - Wayne Troughton
Angola’s growth prospects are set to rise as the country continues to make strides towards a more positive economic course.
[Egypt] ITFC to implement $3b framework agreements to support Egypt
The International Islamic Trade Finance Corporation has announced the signing of two new Agreements between ITFC & the Government of the Arab Republic of Egypt, initiating the utilization of the 5th Framework agreement.
China Development Bank, Afreximbank sign trade infrastructure deal
China Development Bank has, signed an agreement providing a $500-million facility to the African Export-Import Bank to enable the African trade finance bank support trade enabling infrastructure projects across the continent.
World Bank launches $9 million infrastructure project in Somalia
The Federal Government of Somalia and the World Bank have launched the flagship infrastructure project in Somalia.
PIDG receives £500m from DFID for infrastructure projects
The Private Infrastructure Development Group Ltd, PIDG, has announced that UK’s Department for International Development (DFID) has approved a further tranche of funding of up to £500m for the four-year period, 2018 to 2021.
Power outages in Sub-Saharan Africa cost companies 31% in sales
In Sub-Saharan Africa, countries with unreliable power cost some companies as much as 31 percent in sales, according to a new study released by the Center for Global Development.
MIGA seeks to grow investments and partnerships in Kenya and Rwanda
S.Vijay Iyer, Vice President and Chief Operating Officer of the Multilateral Investment Guarantee Agency, MIGA, the political risk insurance arm of the World Bank Group – is set to visit Kenya and Rwanda.
Angola signs $170 million contract for supply of ten locomotives
Angolan Railways, the consortium of Andrade Gutierrez and Zagope Angola have signed a contract valued at $169.3 million for the supply of 10 diesel locomotives with a capacity to carry seven thousand passengers.
MainOne expands operations to Cote D’Ivoire, unveils $20m investment
MainOne has reiterated its commitment to leading the digital transformation efforts of the Francophone region with an initial investment of $20m on cable landing and data centre projects in Cote D’Ivoire within the next 24 months.
OFID funding supports development in three African countries
OFID, the OPEC Fund for International Development has signed public sector loan agreements totaling to US$37.5 million with Guinea Bissau, Burundi and Uganda to support socio-economic development and living standards in the African continent.
MainOne, Minkels in expansion of largest Tier III+ Data centre in W/A
MainOne and data centre supplier Minkels – part of the publicly traded company Legrand have announced the second phase of the project.
Volkswagen expands engagement in Africa, signs MoU with Ghana, Nigeria
During German Chancellor Angela Merkel’s visit to Africa, Volkswagen signed two memorandums of understanding with the governments of Ghana and Nigeria.
[Kenya] National Construction Week to support govt's big four agenda
Kenya’s second National Construction Week at Kenyatta International Convention Centre from 7-9 November 2018, is set to enhance contribution of the construction industry towards the Big Four Agenda.
Avanti launches operations in South Africa
Avanti Communications, a satellite operator providing Ka-Band satellite data communications services across the UK, Europe, the Middle East and Africa, announces the official launch of its South Africa-based operations as of 29 August 2018.
[Kenya] USTDA expands partnership creating U.S. business opportunities
USTDA’s Director of Congressional and Public Affairs, Thomas R. Hardy, joined President Uhuru Kenyatta of the Republic of Kenya at a round table discussion with U.S. businesses.
OFID extends $37.5 million loan to Guinea Bissau, Burundi and Uganda
OFID, the OPEC Fund for International Development, has signed public sector loan agreements totaling $37.5 million with Guinea Bissau, Burundi and Uganda to support socio-economic development and living standards in the African continent.
Opportunity abounds in African Apart-Hotel sector - experts
While the apartment hotel space is relatively new territory in Africa, with only a handful of significant players, great possibilities exist on the continent.
[Nigeria] Honeywell Group launches investment vehicle, Itanna
Itanna will roll out four-month innovation programmes for tech-enabled Nigerian startups from its newly built Enterprise Factory in Lagos, with its pilot cohort of startups receiving USD $25,000 each in investment from Honeywell Group.
Hapag-Lloyd invests in growing East African market
Multinational German-based transportation company Hapag-Lloyd has continued to focus on the growing market in East Africa.
Kenya and Mediterranean Shipping Company revive National Shipping Line
President Uhuru Kenyatta has witnessed the signing of an MOU between the Ministry of Transport and Infrastructure and the Mediterranean Shipping Company for the revival of the Kenya National Shipping Line.
Nairobi-Addis Ababa road corridor boosts trade in the Horn of Africa
The 895-km highway corridor linking Kenya and Ethiopia has not only eased cross-border traffic between the two countries, but is a major push for economic integration within Africa.
African countries improve in Infrastructure and Economic Stability
African countries have showed strong improvements in Infrastructure and Economic Stability over the last decade.
Kenya Power introduces power clinics to improve service delivery
Power utility company Kenya Power has launched new customer service centers dubbed ‘Power Clinics’ to improve service delivery and enhance customer satisfaction.
Uganda, China agree on road, camera projects worth $2.45bn
President Yoweri Museveni has said that a number of Government of Uganda funded contracts worth $2.4bn have been given to Chinese companies especially on roads and recently security cameras worth $120 million.
Liquid Telecom delivers first Microsoft ExpressRoute within Africa
Liquid Telecom has delivered the first Microsoft ExpressRoute service peering in Africa – offering customers better performance, tighter security and lower latency.
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Making money with cryptocurrencies - here's how, financial expert
Cryptocurrency has become especially popular over the last few years, as this is one of the ways of additional, and for some people an even primary source of income. Everything is straightforward: buy cheaper, sell more expensive. As well as an investment in the common currency... read more