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Africa Finance Corporation expands into Asia with a $140 million Kimchi term loan facility
Africa Finance Corporation the investment-grade infrastructure solutions provider, has announces the closing of its inaugural $140 million Kimchi Term Loan Facility.
Qatar Petroleum announces successful startup of a refinery venture in Egypt
Qatar Petroleum announced the successful start-up of the Egyptian Refining Company (ERC) Refinery project located in Mostorod, north of the Egyptian capital Cairo.
World Bank support Madagascar improve transport connectivity, access to social and economic opportunities
The World Bank approved $140 million in support of Madagascar’s efforts to enhance transport connectivity in selected rural areas and to improve access to social and economic opportunities of communities.
IFC to co-host Africa CEO Forum 2020, support Africa’s economic growth
IFC, a member of the World Bank Group, announced that it will co-host the AFRICA CEO FORUM 2020, the leading international conference dedicated to supporting private sector-led growth on the continent.
African Development Bank Group becomes shareholder in Africa Finance Corporation
Infrastructure solutions provider in Africa, Africa Finance Corporation, today announces that the African Development Bank Group has invested US$50 million in the equity of AFC.
South Africa, Nigeria can complement each other, grow economies together, Trade Minister
With South Africa’s know-how and experience in infrastructure development projects and Nigeria's opportunities in different parts of the chain-value, both countries can complement and learn from each other and grow their economies together.
Africa has grasped the Fourth Industrial Revolution, needs to improve access to finance, skills and inclusive growth, AfDb report
A report compiled by the African Development Bank reveals a continent that is embracing the brave new world of the Fourth Industrial Revolution but needs to improve access to finance, skills and inclusive growth.
USD 30 million European Investment Bank backing for telecom project in Guinea
The European Investment Bank (EIB) confirmed its support to transformational telecom investment across Guinea.
Angola Cables, DE-CIX partner to increase broadband connectivity in Latin America
Angola's fiber optics Internet connectivity provider, Angola Cables, announces a partnership with Germany-based Deutscher Commercial Internet Exchange (DE-CIX).
China gifts EAC 12 cars worth $400,000 for capacity building programmes
The People’s Republic of China has made a commitment to give the East African Community (EAC) 12 cars worth US$400,000 to be used in various capacity building programmes at the Community.
Tizeti partners MainOne to provide unlimited WiFi connectivity in Ghana
Leveraging on the partnership between the companies in Nigeria, Tizeti extends its partnership with MainOne as the company launches in Ghana as GhanaWifi.com.
New Internet Exchange Point in DRC to bring faster and more reliable Internet access in the region
The Internet Society in the Democratic Republic of Congo (DRC) launched a new Internet Exchange Point (IXP) in Lubumbashi to bring faster and more reliable Internet access.
Africa Finance Corporation issues $500m 10-year Eurobond
Africa Finance Corporation has announced the successful issuance of a US$500 million Reg S Only Eurobond for general corporate purposes, maturing in October 2029.
Andela launches first fully remote center in Egypt
Andela, the global technology company that builds distributed engineering teams with Africa's top software engineers today officially launched its operations in Egypt.
African Development Bank approve $115 billion increase in capital, signals strong support
Governors of the AfDB representing shareholders from 80 countries approved a landmark $115 billion increase in capital.
[Nigeria] MainOne, Zenlayer partner to expand connections in and out of West Africa
Zenlayer and MainOne have partnered to greatly expand connectivity between international companies and West Africa.
DOF Subsea secures contracts in Africa
DOF Subsea has secured 2 contracts totaling more than 160 vessel days for Skandi Seven and Skandi Skansen in Africa.
OPEC Fund signs US$85m loan agreements for 4 African countries
The OPEC Fund Director-General Dr Alkhalifa signed a public sector loan agreements totaling US$85m with beneficiary countries Benin, Liberia, Senegal and Sierra Leone.
UNIDO concludes pilot phase of QI4TF e-tool in Tanzania, prepares for global dissemination
The United Nations Industrial Development Organization (UNIDO) concluded a two-day workshop for its pilot phase of Quality Infrastructure for Trade Facilitation (QI4TF) e-tool in Tanzania.
DBSA teams up with BRD to unlock infrastructure investment in Rwanda
The Development Bank of Southern Africa (DBSA) and the Development Bank of Rwanda (BRD) hosted the DBSA Rwanda Investment Summit last week in Kigali as part of promoting infrastructure development in Africa.
[Nigeria] Otakikpo field partners sanction phase two development project and marginal field license renewal
LEKOIL is pleased to announce that the Otakikpo Joint Venture between Green Energy International and LEKOIL (with LEKOIL as Technical Partner) has sanctioned Phase Two of the Otakikpo field development plan.
[Egypt] Afreximbank to roll out quality assurance centres to support compliance with international standards and technical regulations
Recognizing the negative impact on trade for African countries, the Afreximbank has introduced an initiative to tackle non-compliance with international standards and technical regulations.
CMA GCM set to launch product to boost trade between Europe and West African markets
Container transportation and shipping company CMA CGM will launch its new product Guinea Gulf Express (GGX) in complement to the current 6 weekly services by November 5.
[Kenya] JICA port road and bridge project opens up Mombasa’s port to the world
Mombasa is Kenya’s global gateway and plays an important role as the logistics and economic hub for East Africa. With its strategic location, the port and its infrastructure projects are attracting a lot of international investment.
[South Africa] USTDA expands support to Cape Town’s digital and infrastructure advancement
The U.S. Trade and Development Agency (USTDA) announced its growing commitment to support the City of Cape Town’s goal to become the most digitally connected city in Africa.
Africa Finance Corporation CEO appointed Vice Chairman, Aker Energy
Aker Energy and Africa Finance Corporation (AFC) have announced the appointment of Mr. Samaila Zubairu as Vice Chairman of Aker Energy’s Board of Directors.
Middle East, North Africa faces subdued growth, bolder reforms needed to boost private sector, World Bank
Economic growth in the Middle East and North Africa (MENA) region is projected to slow to 0.6% this year compared with 1.2% last year, according to a new World Bank report.
Sudan, Ethiopia agree to establish joint oil pipeline
Sudan and Ethiopia agreed on Friday to establish a joint oil pipeline, to serve the two countries.
[Madagascar] Telma selects Ericsson for next-generation core and radio network upgrade
Ericsson has been selected by Telma, Madagascar, to upgrade its core and radio network, as part of a national next-generation upgrade as it moves towards 5G.
European Union strengthens Senegal partnership with €27.5 million funding
During his visit to Senegal, the Member of the Commission in charge of International Cooperation and Development, Neven Mimica, signed cooperation programmes for a total of €27.5 million.
Global building analytics market to reach $12.6 Billion by 2025, Zion Market Research
Zion Market Research has published a new report titled “Building Analytics Market By Component.
AfDB approves loans of €209 million for expansion of highway that links Kenya’s major economic hubs
The Board of Directors of the African Development Bank Group has approved loans of around €209 million to fund the expansion of a highway that links major economic hubs in Kenya.
UK aid to boost access to finance for Sub-Saharan Africa
The UK Secretary of State for International Development announced a new UK aid package that will help mobilise £500 million in private sector investment and create 50,000 jobs across Sub-Saharan Africa.
USTDA calls for energy project proposals from Sub-Saharan Africa
The U.S. Trade and Development Agency (USTDA) announced a call for initial proposals from project sponsors in sub-Saharan Africa, including U.S. companies working with African project sponsors.
Hapag-Lloyd launches Middle East, India, Africa Express service to offer flexible direct connections
Global shipping company Hapag-Lloyd continues to develop its position in Africa and launches the new MIAX (Middle East-India-Africa Express) service.
[Column] Koketso Lediga: Infrastructure and energy are key to a new economic journey in the Democratic Republic of Congo
The Democratic Republic of Congo (DRC), sub-Saharan Africa’s largest country, is known for being a tough place to do business but also one of unexploited economic potential.
OPEC Fund supports Rwanda’s water and sanitation infrastructure with US$20m loan
The Director-General of the OPEC Fund for International Development (the OPEC Fund) Dr Abdulhamid Alkhalifa has signed a US$20 million loan agreement to support water and sanitation infrastructure in Rwanda.
[South Africa] DBSA delivers pleasing performance despite impact of subdued economy
The DBSA delivered an encouraging set of results for the year ended 31 March 2019, despite the adverse impact of the subdued economy on the demand for infrastructure funding.
Kenya, Ivory Coast named rising stars of global trade
Ivory Coast tops the list as Kenya comes 3rd in the 2019 Standard Chartered Bank Trade20 Index as markets with the greatest potential for future trade growth.
IHG Group signs 10-property deal with Aleph Hospitality to expand presence across Africa
InterContinental Hotels Group (IHG), one of the world’s leading hotel companies, has signed a Master Development Agreement with Aleph Hospitality to develop ten franchise hotels across IHG’s portfolio of brands in midscale and upscale segments.
[Nigeria] NNPC resuscitates Ilorin petroleum depot
The Nigerian National Petroleum Corporation has boosted access of Ilorin, Kwara State, and its environs to petroleum products supply as the corporation’s Group MD, Mallam Mele Kyari, re-commissioned the Ancient City’s NNPC Depot.
AUDA-NEPAD Eastern Africa regional office operationalizes in Kenya
AUDA-NEPAD Eastern Africa regional office has been operationalized in Nairobi, Kenya.
Burundi Revenue Authority-OBR set to contribute to regional trade competitiveness with USD 1 Million grant on IT Infrastructure
TradeMark East Africa officiated the handing over of the MOU signed with the Burundi Revenue Authority (OBR), and the Burundi Ministry of Finance and Economic Development Cooperation.
[Nigeria] Oracle launches cloud centre of excellence in Lagos
Oracle, in collaboration with Redington, a leading value added distributor operating across East, West, French West Africa and Middle East, today launched a Cloud Center of Excellence in Lagos
Philips, Amref Health Africa extend collaboration towards achieving universal health coverage in Africa
Royal Philips and the largest African health organisation Amref Health Africa signed a MoU to extend their joint mission to sustainably transform primary healthcare towards achieving universal health coverage in Africa.
Sasol concludes first local development agreements with communities in Mozambique
After extensive negotiations, Sasol has concluded 2 Local Development Agreements (LDAs) with the communities of Inhassoro and Govuro districts in Inhambane Province, Mozambique.
South Africa business delegation seek for trade and investment opportunities in Angola
A South African business delegation is in Luanda, Angola in search of export market as part of the Outward Trade and Investment Mission.
Africa50 signs agreement with Rwanda Development Board to develop Kigali Innovation City
Rwanda Development Board (RDB) and Africa50 have signed a Joint Development Agreement (JDA) to further the development of the Kigali Innovation City (KIC) project.
Kenya to enhance and expedite cooperation with Japan
The Government of Kenya supports the strengthening of bilateral relations with the Government of Japan.
Innovative leasing deals boost Kenya’s office market, Broll Property
A creative approach to leasing deals is helping innovative landlords offset the challenges of high vacancies in an overstocked Nairobi office market, according to Broll Property Intel’s latest Kenya Office Market Snapshot H1:2019 report.
Voith launches on-site machining and service tools capabilities for Southern Africa
The technology group Voith is strengthening its hydropower service portfolio for Southern Africa.
The expanded Walvis Bay Port to net more tourists in Namibia
With its sand dunes and abundant birdlife, Walvis Bay is already an important centre of tourism activity in Namibia.
Kobo360 raises $30 million in Series A Funding to drive expansion
Kobo360, the digital technology platform disrupting African third-party logistics, has announced the completion of a $20M Series A equity round.
DBN, DBSA pledge $521 million to finance water, transport and electricity in Namibia
The Development Bank of Namibia (DBN) and the Development Bank of Southern Africa (DBSA) have jointly pledged N$8 billion in finance for infrastructure requirements in Namibia
African Development Bank and Ethiopia sign agreement for first phase of Ethiopia–Djibouti transport corridor
The government of Ethiopia and the African Development Bank Group have signed a $98 million grant agreement from the African Development Fund (ADF) to help finance phase one of the Ethiopia–Djibouti Road Transport Corridor Project.
Tanzania enters deal with Chinese firms for construction of modern bridge
Tanzania has signed a deal with Chinese groups China Civil Engineering Construction Corporation and China Railway 15th Bureau Group for the construction of a 3.2 kilometre bridge over parts of Lake Victoria.
Namibia launches the expanded Walvis Bay Port
The President of Namibia officially launched the refurbished harbour on 2 August 2019, together with the Chairperson of the Board the Namibian Port Authority and the Operations Manager of the Southern Africa office of the AfDB.
Millennium Challenge Corporation, Bechtel and Côte d'Ivoire Government launch partnership on infrastructure planning
The U.S. Government's Millennium Challenge Corporation (MCC) ha announced partnership with Bechtel Infrastructure Corporation and Côte d'Ivoire Government, focusing on national infrastructure master planning.
time:matters extends services to Africa
time:matters, a global special speed logistics company, has established a new hub in Brussels and extended its services to Africa.
[Column] Llewellyn le Hané: Public and private partnerships key to Namibian ICT space development
In the spirit of good corporate citizenship, organisations both in the public and private sectors in Namibia have an active role to play when it comes to developing skills.
Teamsters warns South African investors of workers' rights risks At Xpo Logistics
Teamsters Union is warning South African institutional investors regarding the many risks facing investments in one of the world's largest transportation and warehousing companies, XPO Logistics.
[South Africa] Cape Town deploys new innovation to support over 170,000 informal traders
How does a famously cosmopolitan city of nearly four million people from countless nationalities and cultures support its bustling, thriving informal trade sector?
UNDP launches regional stabilization facility for Lake Chad
The United Nations Development Programme (UNDP) has launched the Regional Stabilization Facility for Lake Chad, a multi-million dollar fund to scale up the range of stabilization intervention in areas of Lake Chad Basin.
Engineering insurance to grow with Kenya’s infrastructure projects under Agenda 4, Kenindia
Growth is expected to be seen in the engineering insurance as Kenya embarks on completing its construction and infrastructure projects under the Agenda 4, says Kenindia.
Trane appoints JMG Limited as new distributor in Nigeria for residential and light commercial products
Trane, a global provider of indoor comfort systems, has entered into a new distribution agreement with JMG Limited in Nigeria that will significantly expand and strengthen the distribution capacity of Trane in Nigeria.
FVC, Avaya partner for next-generation digital experiences across Africa
FVC has partnered with Avaya Holdings to help businesses across North, West, East, Centra Africa and Egypt deliver efficient customer experiences with unified communications, collaboration and cloud communications solutions.
Hapag-Lloyd launches new Africa service
Hapag-Lloyd is expanding its African liner services and will offer its MIAX (Middle East-India-Africa Express) service starting in October 2019.
Google introduces Equiano, a subsea cable connecting Africa and Europe
Google has introduced Equiano, a new private subsea cable that will connect Africa with Europe.
African Development Fund improving and impacting lives of millions in Africa, beneficiaries
Established to provide concessional buffer to needy economies on the continent, ADF is not only facilitating rapid roll-out of development projects, but its investments continue to transform and sustain lives, beneficiaries say.
EU invests over €100 million in African economic integration
The European Commission has adopted a set of projects in support of African economic integration, with initiatives worth €101.5 million, to focus on infrastructure, intellectual property rights and improving Africa's climate investment.
Chinese firm, Engo, opens phone manufacturing plant in Uganda
Chinese electronics firm, ENGO, has launched a phone manufacturing plant in Uganda, positioning itself in the country’s industrial sector to locally manufacture and assemble mobile phones, tablets, laptops, and computers.
Africa50 appints Opuiyo Oforiokuma Head of Strategy and Investor Relations
Africa50, the pan-African infrastructure investment platform capitalized by the African Development Bank, has appointed Opuiyo Oforiokuma as Head of Strategy and Investor Relations.
Frogfoot brings broadband FTTH coverage to Protea Glen, Soweto
Frogfoot Networks, a licensed open access fibre network provider, is rolling out fibre infrastructure in Protea Glen, Soweto.
Liquid Telecom connects South Sudan to One Africa broadband network and the world
Liquid Telecom will implement and operate South Sudan’s first fibre broadband network, connecting the country to the “One Africa” broadband network, which is approaching 70,000km across 13 African countries and to the rest of the world.
[Liberia] Financing to upgrade Monrovia water supply system for additional 52,000 users
The World Bank has approved an additional financing of $24.74 million International Development Association (IDA) credit and $5.26 million IDA grant to increase access to piped water supply services in Monrovia.
15 Comesa countries establish road development funds
Fifteen out of 21 countries in the Common market for Eastern and Southern Africa, (COMESA) have established dedicated Road Funds and Road Development Agencies.
African hotel markets experience sound transactional activity, HTI Consulting
Though Africa remains a market where hotel real estate investment is typically dominated by development, increasing transactional activity is providing much needed liquidity.
[Ghana] Smiths Detection to deploy cargo screening technology at Tema Port
Smiths Detection has won a contract with Meridian Port Services Limited (MPS) to provide cargo inspection technology for the major Tema Port Expansion project in Ghana.
Rwanda and China sign $43 million agreement to finance infrastructure
Rwanda and China have signed a $42.8 million agreement to finance the expansion and rehabilitation of 10 km Prince house- Giporoso- Masaka road.
Voith gets contract to manufacture equipment for hydropower plant in Burundi
The technology group, Voith, has won an order to design, manufacture and supply the complete electromechanical equipment for the small hydropower plant Kabu 16 in Burundi.
DBSA commits US$4.9m to Joule Africa’s hydropower project in Sierra Leone
As Joule Africa enters the final stages in developing the Bumbuna II 143 MW hydropower project in Sierra Leone, DBSA has committed US$4.9 million to finance remaining project development activities.
Africa to benefit from OFID's approval of US$580m for operations in developing countries
OFID, the OPEC Fund for International Development, has approved more than US$580 million of new funding to benefit developing countries across the globe, including Africa.
DBSA sees Ghana as key in building Africa’s prosperity
Speaking during the Development bank of South Africa (DBSA) Investment Summit in Ghana, the South African High Commissioner to Ghana stated that South Africa regards Ghana as a strategic partner on the continent.
South Sudan inaugurates European Union-funded bridge in Warrap State
The United Nations World Food Programme (WFP) and the European Union (EU) officially handed over the completed Kwacjok Bridge to the Government of South Sudan that links Lunyaker, Kwacjok and Kangi regions.
[Ethiopia] Ethio telecom, Djibouti telecom to use railway communication fiber for telecom services
Ethio telecom and Djibouti telecom have agreed to use the Ethio-Djibouti Railway, connecting Addis Ababa to the port city of Djibouti, for telecommunication services.
McDermott announces contract agreement for Mozambique LNG development
McDermott International announced that CCS JV, a joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko for the Mozambique Area 1 LNG development.
Afreximbank expresses interest in Brazzaville-Kinshasa Bridge
The African Export-Import Bank is interested in participating in the syndicated facility for the construction of the bridge between Brazzaville and Kinshasa to link the two Congos.
IFC and MIGA invest $460 million in Guinea’s bauxite, rail and port projects
IFC and MIGA, members of the World Bank Group, have announced a $460 million debt and guarantee package to support the sustainable development of the Guinea Alumina Corporation bauxite project.
[Nigeria] West Africa Container Terminal invests in two mobile harbor cranes to sate growing demand
In response to continued volume growth in the Eastern Nigerian market, the West Africa Container Terminal (WACT) located in Onne Port, has invested in two new Mobile Harbor Cranes.
South Sudan launches international gateway to boost telecom sector
South Sudan has launched its maiden International Gateway which will ease call rates and boost internet services offered by its two leading telecom companies.
Mohammed Ahmed appointed Managing Director of APM Terminals Nigeria
Mohammed Ahmed has been appointed as the new Managing Director of APM Terminals Nigeria.
Nigerian Maritime Administration and Safety Agency partners with Port of Antwerp Belgium to grow foreign direct investment
As part of efforts to boost trade in the Nigerian maritime sector, the Nigerian Maritime Administration and Safety Agency (NIMASA) is set to partner with the Port of Antwerp in Belgium.
[Column] Murray Steyn: The network cables that connect Africa to the world
In total, there are 520Gbps of bandwidth capacity over the East and West African intercontinental network cable systems for wholesalers to leverage.
Orange selects ENGIE for operation and maintenance of one of the largest data centers in West Africa
ENGIE has been selected for the operation and maintenance of the Orange Services Group's data center in Abidjan, for a five-year contract that will start early June 2019.
[Uganda] KCCA flags off construction of five roads
The Kampala Capital City Authority (KCCA) has flagged off a new set of roads to two international firms to start construction work.
Acrow Bridge installs 44 bridges as part of modernization of Cameroon’s rural infrastructure
Acrow Bridge, an international bridge engineering company, has installed of the first of 44 bridges provided to the Government of Cameroon as part of Acrow’s financed Comprehensive Bridge Development Program.
PMI and PwH donate USD 430,000 in aid of Mozambique's recovery from Cyclone Idai
Philip Morris International (PMI) and Projects with a Heart Association (PwH) have donated more than USD 430,000 to help Mozambique in the aftermath of the devastating Cyclone Idai.
African Development Fund approves $11.1 million for public finance reforms in Zambia
The African Development Fund approved $11.1 million to support Zambia’s public finance and economic management as part of efforts to restore fiscal stability and improve livelihoods in the middle-income Southern African nation.
World Bank approves $250 million to enhance access to affordable housing finance for Kenyans
The World Bank has approved a $250 million International Bank for Reconstruction and Development (IBRD) loan to enhance access to affordable housing finance for Kenyans.
African ministers adopt “Cairo Declaration” on boosting continent’s Infrastructure
Ministers from 39 African countries have confirmed their commitment to consider strategies for developing smart infrastructure to boost Africa’s continental transformation and integration.
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