Leading multinational logistics company DP World is determined to transform Somaliland Port city of Berbera into a major maritime, industrial, and logistics hub in the Horn of Africa, especially for Ethiopian transit cargo. DP World who in partnership with the government of Somaliland opened a new container terminal at Berbera Port, with work underway to […]
Huawei plans to invest US$150 million in digital talent development over the next five years. This program is expected to benefit another 3 million youth. “Today we are announcing Huawei’s Seeds for the Future Program 2.0. As part of our commitment to continuously developing talent, we will invest US$150 million in this program over the […]
Conakry, Guinea July 2021 – Vista Bank Group (‘Vista’) has closed the deal to acquire BNP Paribas’ majority interest in La Banque Internationale pour le Commerce et l’Industrie de la Guinée (BICIGUI) in Guinea. The acquisition adds to Vista’s existing banking operations in Guinea, in addition to its banks in Burkina Faso, Sierra Leone and The Gambia. BICIGUI is […]
Development Kampala, June 14, 2021 – Total E&P Uganda, has signed Conditional Letters of Award for the main surface facilities Engineering, Procurement, Supply, Construction and Commissioning (EPSCC) as well as five (5) drilling packages for the Tilenga project located in Nwoya and Buliisa Districts. The letters are with respect to: 1. A Consortium comprising CB&I […]
Kampala, 01 June 2021: RUBiS Energy Uganda has officially launched into the market following the successful acquisitions of Kobil and Delta. These acquisitions saw RUBiS Energy Uganda become a leading oil and gas company in the Ugandan oil industry with a market network of 54 stations countrywide. According to Mr. Jean-Christian Bergeron, the Group Managing […]
Wednesday, June 2, 2021: Ministers of infrastructure have called on regional States to scale up programmes to upgrade and maintain infrastructure and facilities, adopt, and implement COMESA transit instruments to improve transport corridors’ efficiency. In their 12th joint meeting conducted virtually, today, June 2, 2021, the ministers responsible for transport, energy and Information, Communication Technology […]
Abidjan, May 31, 2021 – The Board of Directors of the African Development Bank Group has approved $84.22 million in loans and grants to electrify nearly 80,000 rural households in south Rwanda. The project will advance the country’s goal of universal electrification and benefit small businesses and youth. The funds comprise a loan of $36.77 […]
Dar es Salaam, 27 May 2021 – The African Development Bank Group and the Government of Tanzania have signed loan agreements totaling $140 million to finance the construction of the 50-megawatt Malagarasi hydropower plant in Western Tanzania. The agreements cover a $120 million sovereign loan from the Bank and $20 million from the Africa Growing Together Fund (AGTF), administered by the […]
Despite high abundant water levels of relief and appropriate terrain, Uganda, Tanzania and all of Central Africa do not produce electricity, they suffer from drinking and municipal water, and their irrigation of agricultural land is inadequate. The two researcher Vojna and Xhevair Ngjeqari from Vienna University of Technology in Austria and Polis University in Albania have […]
Abidjan, 19 May 2021 – The African Development Bank and the Government of Uganda have signed two financing agreements totaling around $348 million for the improvement of road transport in Uganda. The first is a $276 million financing agreement for the Kampala City Roads Rehabilitation Project; and the second, valued at $71.8 million, is for upgrading the Kabale-Lake […]
KAMPALA, May 14, 2021 – The President of Burundi Evariste Ndayishimiye has hailed Ugandan investors for working hard and invited them to invest and trade with Burundi. President Ndayishimiye made the remarks after a tour of the new state-of-the-art Picfare Industries plant in Kampala Industrial and Business Park, Namanve, where he was showed products ranging […]
Akim Daouda, Uche Orji, and Mamadou Mbaye, LIBREVILLE/ABUJA/DJIBOUTI – On May 18, African heads of state, European leaders, and representatives of international institutions will gather in Paris for a summit on financing African economies. As heads of African sovereign wealth funds (SWFs), we strongly believe that mobilizing national resources – and using them to attract […]
Paris, 17 May 2021 – The African Development Bank Group and the European Bank for Reconstruction and Development (EBRD) on Monday signed a memorandum of understanding to promote sustainable private sector development in Africa. The memorandum of understanding will help catalyse new sources of financing to help bridge the $2.5 trillion annual financing gap for development […]