(AfDB) - The African Development Bank’s Board of Directors has approved a $60m loan to Elnefeidi Group Holding Company to help finance its long-term agriculture and food expansion programme.
Malawi will soon add 46 MW of clean energy to the local power supply. Thanks to the US$67 million investment into the country’s solar projects recently concluded. The first phase of the project is expected for completion in March 2020.
(Ecofin Agency) - The European Union announced it is investing an additional €30 million in the AfricaConnect project designed to build a high-capacity Internet network for research and education networks across Africa.
(AfDB ) - The Economic Community of West African States (ECOWAS) has endorsed the candidacy of African Development Bank President Akinwumi Adesina for a second term at the helm of the institution.
(Ecofin Agency) - Construction of the Lagos-Abidjan corridor, the deal which was signed since March 2014, will start by 2022. The good news was announced by AfDB Chairman, Akinwumi Adesina, on the sidelines of the 56th Ordinary Session of the ECOWAS Authority of Heads of State and Government held Saturday in Abuja.
(Ecofin Agency) - Between 2000 and 2018, Rwanda’s economy grew by an average of 8%, the Finance Minister, Uzziel Ndagijimana (pictured), announced during the 17th National Dialogue held on 19 and 20 December 2019, in Kigali.
(Ecofin Agency) - Ethiopia is starting the year 2020 on a good note. The businessman Mohammed al-Amoudi announced he is investing 4 billion birr (about $126 million) to build a huge and modern edible oil processing plant in the country. The first stone was laid on Dec 28 in Addis Ababa in the presence of the City Mayor Takele Uma, local media reported.
This year’s 1-54 art fair in London was a real delight. Galleries from across Africa and the diaspora showcased art from the four corners of the continent including artists from Angola, Benin, Ethiopia, Kenya, Namibia, Nigeria, Senegal and Zimbabwe.
Nigerians in the Diaspora gathered recently in Geneva to celebrate their country’s independence day. The occasion was the 59th Independence Anniversary of Nigeria organised by Nigerian in Diaspora Organisation (NIDO) aimed to foster stronger ties between them, the diplomatic and business communities in Geneva, Switzerland.
The Document would promote and ensure the adoption of gender sensitive and responsive approaches towards engendering plans and programmes, in such a way that men and women have equal access and control of productive resources and facilities to bridge gender gaps.
In a drop by with the President of the United States Donald J. Trump, held in the Roosevelt Room of the White House on 15 October, the Director General of the Universal Postal Union Bishar A. Hussein proudly displayed the letter revoking the United States’ decision to withdraw from the UN specialized agency for postal matters.
At an extraordinary shareholders’ meeting recently held in Abidjan, Governors of the African Development Bank, representing shareholders from 80 countries, approved a landmark $115 billion increase in capital for the continent’s foremost financial institution.
Peeved with the negative perception of Africa by the outside world, Chairman, Aliko Dangote Foundation (Dangote.com), Aliko Dangote, on Monday, September 23, 2019 made a philanthropic donation of $20 million to The Africa Center in New York, United States of America towards reversing the trend.
Giselle Rufer, the Swiss creator of the unique women’s wrist watch DELANCE has unveiled a new fantastic collection christened OCEANE in June during the WIntrade week in London, and also in Switzerland at Hotel Baur au Lac, Zurich on 8 September on Luxury Day where luxury products were on display; among them were silk scarf, watches, jewelries, perfumes
The Nigeria’s President, Mr. Muhammadu Buhari has told the country that the “blight of corruption is fighting back.” This is contained in his address delivered on 1st October to mark the 59th Anniversary of the country’s independence.
Africa Oil Week (www.Africa-OilWeek.com) will be the place for major national roadshows in the oil & gas sphere. This year 30 ministries are taking part with over 20 making presentation. This is the best chance to get insider knowledge on key opportunities, legislation changes, bidding rounds and more – direct from the companies and government intimately involved in leading them.
The AU–EU–UN Tripartite Taskforce on the Situation of Stranded Migrants and Refugees in Libya met this morning in New York in the margins of the high-level General Debate of the 74th session of the UN General Assembly.
The AU Office convened a Media Orientation workshop on Africa’s industrialization on 25th to 26th September 2019 to enable the media report competently on industrialization.
ANGOLA – The President of Angola, Mr. João Lourenço has expressed the efforts being made by his country to demine the remaining minefields in the country to enable acceleration of the economic development of the country.
The African Development Bank (AfDB) is on a five-day consultative mission to the Commission of the Economic Community of West African States (ECOWAS) in preparation for the West Africa Regional Integration Strategy Paper (RISP) 2020 – 2025.
(Ecofin Agency) - Senegal is expected to achieve a 6% growth this year, the International Monetary Fund announced this week stressing that the figure should accelerate from 2022 thanks to the start of commercial production of hydrocarbons.
Between 2020 and 2021, the West African country’s GDP is expected to grow by 7% driven by private investment, and inflation is forecasted to remain low in the mid-term. However, the current account deficit is first expected to increase until 2021, as a result of imports needed for the construction of hydrocarbon projects, before declining once oil and gas production and exports begin.
As part of a 3-year program supported by the Policy Coordination Instrument (PCI), IMF wants to assist Senegalese authorities in the implementation of a “sustainable and transparent governance framework for newly-discovered hydrocarbon resources.” Let’s note the country is currently in the middle of a corruption scandal over the illegal allocation of two oil and gas fields to businessman Franck Timis by Aliou Sall, President Macky Sall’s brother.
Moutiou Adjibi Nourou
(Ecofin Agency) - Japan’s car company Toyota will soon set up a car assembly plant in Côte d’Ivoire. This is the purpose of an agreement the company signed on August 29 in Yokohama, Japan, with the Ivorian government.
African business leaders are less optimistic about the strength of the global economy and their organisations’ ability to grow revenues in both the short and medium term than they were a year ago. A quarter of African CEOs (25%) believe that the global economy will decline over the next 12 months.
Nestlé announced yesterday the 3 start-ups winners of the Nestlé Research and Development (R&D) Sub-Saharan Africa innovation challenge. They are SHOPIT, EXPORTUNITY and WAKULIMA from South Africa, Benin and Tanzania respectively.