SOUTH AFRICA AND SWAZILAND SET FOR 150KM RAIL CONSTRUCTION LINK

SOUTH AFRICA AND SWAZILAND SET FOR 150KM RAIL CONSTRUCTION LINK

Swazi rail construction to connect both South Africa and Swaziland railway which will create approximately 3000 and 6500 jobs for both countries. The project which is a 150km Swazi rail link is expected to link Lothair in South Africa to Sidvokodvo in Swaziland whereby modernizing two existing lines in both countries. Preparation are underway after the feasibility studies of the Swazi rail link is complete. Transnet Rail Freight Chief Executive Officer, Ravi Nair; ”The feasibility phase is complete and…

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Safest Bank in Kenya – Stanbic Bank

Safest Bank in Kenya – Stanbic Bank

Stanbic Bank have outshined its competitors as it was recently announced as the safest bank in Kenya. Global Finance, an International Financial Publication have ranked Stanbic bank as the safest bank in Kenya. Every year, Global Finance uses  ratings from global ratings agencies like Moody’s, Standard & Poor’s and Fitch to rank the world’s safest banks. These global ratings agencies on the other hand, usually rate the banks based on evaluations of long-term foreign-currency. The…

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CONTAINER TERMINAL SET TO BE BUILD IN MOMBASA PORT BY KPA

CONTAINER TERMINAL SET TO BE BUILD IN MOMBASA PORT BY KPA

Mombasa port to get second container terminal after data showed by KPA of 11.9% growth in the first six month of 2017. The container terminal which is expected to cost US $339.2m will be constructed by the Kenya port authority (KPA) in Mombasa port of the country. The fund is a loan that was collected by the KPA from the Japanese government in other to construct the terminal which is the second container terminal in Mombasa…

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LAGOS STATE SET TO PROVIDE 20,000 HOUSING UNIT BY 2018

LAGOS STATE SET TO PROVIDE 20,000 HOUSING UNIT BY 2018

Housing sector set to have 20,000 housing unit by the lagos state government in 2018. The lagos state Government has announced plans to unveil its plans to have up to 20,000 housing unit by 2018 which is expected to boost the state housing sector. The state government is expected to continue the public-private partnership to provide decent and affordable housing for all. They are opened to new ideas, technology and methods which will provide an enabling…

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US$120M BONNY-BODO ROAD PROJECT GROUND BREAKING CEREMONY

US$120M BONNY-BODO ROAD PROJECT GROUND BREAKING CEREMONY

Nigeria vice president and some high profile individuals flag-off the bonny-bodo road project in bonny island. Bonny local government and bodo city which are both located in Rivers state, Nigeria will finally have a road project which has been abandon for over 40 years to be constructed after the ground breaking ceremony was held yesterday with the vice president of the country, Prof. Yemi Osinbajo and most notable personality in attendance. The project which is…

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PREFABRICATION HOUSES LAUNCH IN SOUTH AFRICA

PREFABRICATION HOUSES LAUNCH IN SOUTH AFRICA

South Africa to get a prefabrication house by CMIG Drawin that is expected to help the local resident in Gauteng. Chinese firm China Minsheng Drawin Technology Group (CMIG Drawin) has announced plans to launch a prefabrication house project in south Africa that is expected to introduce a signature construction technology that will benefit the Africa continent. The group is expected to build up to 18,000 affordable homes which include public leasing houses and commercial properties, plus…

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ALIKO DANGOTE CRITICIZES PRESIDENT OF TANZANIA OVER POLICIES

ALIKO DANGOTE CRITICIZES PRESIDENT OF TANZANIA OVER POLICIES

Foreign Investors stress worry over the recently signed government policy requesting a free 16% ownership in all foreign owned businesses President of Dangote Industries, Mr. Aliko Dangote expressed his frustration over the enacted law, stressing that Mr. John Magufuli (President of Tanzania) is “coming through the back door to seize assets”. He made this statement while attending a summit organised by the Financial Times, in London this week. The State Stake Law, makes it mandatory…

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SA OR NIGERIA TO BECOME TRUECALLER’S AFRICA HEADQUARTER’S

SA OR NIGERIA TO BECOME TRUECALLER’S AFRICA HEADQUARTER’S

 Truecaller executives to visit SA and Nigeria in search for their Africa headquarter following the tremendous growth they had across Africa. On Wednesday Truecaller announced that they’re on a move to increase its presence on the continent making Africa a key priority region. Truecaller is also shopping for a great city to build its Africa headquaters. In Africa, Truecaller tends to be one of the fastest growing consumer apps and for the past two years…

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AVANI PROPERTIES TO BUILD TWO RESORTS IN TUNISIA

AVANI PROPERTIES TO BUILD TWO RESORTS IN TUNISIA

Tunisia to have avani hotel and resorts in tunis. The resorts which are Avani Les Berges Du Lac Tunis Suites and Avani Gammarth Tunis Resort & Spa is expected to be located in a commercial, residential and diplomatic area in Tunis the country capital. The Resort is expected to have 41 key properties that will have serviced apartment accommodation options ranging from studios to three-bedroom apartments and lofts that will help meet the corporate and extended-stay demand. The second…

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ALLIANZ INSURANCE COMPANY IN AFRICAN

ALLIANZ INSURANCE COMPANY IN AFRICAN

The world’s largest insurance company, Germany-based Allianz, is in the midst of a major overhaul of its African operations. Earlier this year the company launched its new hubs in African at Morocco and Casablanca for more operations, the establishment of this offices across the continent has shown its interest in expanding its operation in African .Traoré Maïdou, who was appointed chief operating officer for the group’s African business on 1 February stated that they still do…

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LIBERIA 2017 ELECTIONS RESULT DELAYED

LIBERIA 2017 ELECTIONS RESULT DELAYED

The National Elections Commission (NEC) is expected to announce the first official results from the presidential and legislative elections on Thursday. Liberia 2017 election is an election that has got the world talking about because the country has gone through so many challenges like the civil war in 1943, Ebola epidemic in 2014-15 which has made many countries and people feeling that this election is an important step toward achieving Liberia’s first peaceful transfer of power from one…

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ZAMBIA PUBLIC DEBT RISES SAY INTERNATIONAL MONETARY FUND (IMF)

ZAMBIA PUBLIC DEBT RISES SAY INTERNATIONAL MONETARY FUND (IMF)

Zambia at high risk of debt distress. Public debt in Zambia increased from 36% gross domestic product at the end of 2014 to 60% at the end of 2016. public debt has being rising at an unsustainable pace and has crowded out lending to private sector and increased the vulnerability of the country according to IMF. It included that the increase of foreign investors in the government market has brought financial constraint which makes the…

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SUB-SAHARAN HAS A SLOWER ECONOMIC RATE SAYS WORLD’S BANK

SUB-SAHARAN HAS A SLOWER ECONOMIC RATE SAYS WORLD’S BANK

The World Bank said on Wednesday, down from the 2.6 percent projected in April.sub-Saharan Africa is expected to be 2.4 percent in 2017 The slow rate in the economy of the Sub-Sahara is influence by the fall in the economy of two countries in the region which includes the fall in and South-Africa and Nigeria which needs political reformation caused by the political worries and it’s uncertainty need to be reined. The slow growth of…

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FUEL SHORTAGE CRISIS IN SOUTH SUDAN

FUEL SHORTAGE CRISIS IN SOUTH SUDAN

Oil rich country on daily fuel crisis An international and power conference will be holding in South Sudan to deal with the country’s fuel crisis. Although the country has billions of barrels of oil reserves, petrol stations still run’s dry on daily basis. South Sudan the third largest oil reserves in Africa does not have a functioning refinery. Fuel from the black market is the only option in the country and many in the country…

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Equitorial Guinea, 49yrs after Independence

Equitorial Guinea, 49yrs after Independence

Africa’s top investment destination, celebrates its independence, amidst economic and corruption challenges. A small country in Western Africa, with a population of approximately 779,000 people. Equitorial Guinea gained independence from Spain on October 12, 1968. Like most African countries, the nation experienced political challenges resulting in a third of the population fleeing the region. However, in 1979, a military coup brought relative calm with Mr. Teodoro Obiang Nguema becoming president. Since assuming office, Mr Obiang…

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VAMPIRISM IN MALAWI

VAMPIRISM IN MALAWI

Villagers have set up road blocks as they try to hunt the “vampires” down.  Mobs searching for vampires have been mounting road blocks in the district, raising security concerns over five people been killed in the area since mid September and accusing them of drinking blood as part of magic rituals. According to the UN, it has pulled staff out of two districts due to the vampire scare across the southern part  of Malawi. The…

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US$2.5BN WIND PLANT CONSTRUCTION MOVED FROM KENYA TO TANZANIA

US$2.5BN WIND PLANT CONSTRUCTION MOVED FROM KENYA TO TANZANIA

Swedish firm decides to move the 600mw wind power plant construction after kenya’s energy department cite lack of framework for renewable energy. VR Holding AB which is a Swedish firm has decided to move the 600mw wind farm construction from Kenya to Tanzania because the Ministry of Energy turned down the request citing lack of framework for renewable energy projects of that scale as well as low demand for electricity in the country. The project was turn…

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Dubai’s autonomous flying taxi

Dubai’s autonomous flying taxi

Dubai’s autonomous flying taxi will make transportation easier and cheaper. Dubai being in the front pack of embracing  new technology has invented an autonomous flying taxi after having insight from the German made electric volocopter, this autonomous flying taxi is being designed for their use presently. The prototype of the volocopter has a maximum flying time of 30 minutes at 50 kph (31 mph), with a maximum airspeed of 100 kph (62 mph). “It’s public…

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