GAMBETA NEWS: African Infrastructure News, Events, and more

UGANDA AT 55, WHERE ARE WE?

Posted on 9 October 201716 November 2017 by Gambeta News

As Uganda celebrates its Independence today (09-10-1962), we decided to take an in-depth look at the country with an influence in the Eastern African block. We cannot look at Uganda without acknowledging China’s impressive presence in the region, accounting for numerous infrastructural projects and economic activities. China has been showing a strong willingness to take more ambitious risks associated with the countries resources. Showing strong commitment through signed deals to develop Uganda’s oil, minerals, and…

MJOlNER – THE VIKINGS THEME BAR IN AUSTRALIA

Posted on 9 October 2017 by Gambeta News

For all viking lovers, this is a place to wine and dine with the gods. In Norse (North Germanic people) mythology, Mjolner is the name given to the hammer of Thor (the god of lighting and thunder), a fearsome and powerful weapon capable of leveling mountains. But in Australia, Mjolner is the name of a viking inspired restaurant and bar located in an old tobacco factory along Cleveland street in Redfern. At the underground dinner you…

SONANGOL AN ANGOLA OIL COMPANY SAVES $US1.7BN AFTER SPENDING CUTS

Posted on 9 October 2017 by Gambeta News

After spending cuts Angola’s state owned oil company saves $US1.7bn. On Friday, Angola’s state owned oil company ( sonangol) said $1.7-billion has been saved and thanks to spending cuts since 2014 due to lower crude oil prices. Due to the slump in oil prices, over the last three years oil companies across the world have made huge cuts to their annual capital expenditure. According to a statement released by Sonangol company, production costs per barrel had…

MTN Ghana CEO appointed as Regional Vice President

Posted on 9 October 2017 by Gambeta News

MTN Ghana CEO have been appointed as the new regional Vice president of the Southern and East Africa and Ghana (SEAGHA) Region. Mr Ebenezer Asante, Chief Executive Officer of MTN Ghana, on October 1, 2017 was appointed as the new Vice President (VP) of MTN Group’s altered Southern and East Africa and Ghana (SEAGHA) Region. The new SEAGHA Region includes the telecommunications operations in Ghana, Uganda, Rwanda, Zambia, South Sudan, Botswana and Swaziland, along with Internet Service Providers (ISPs)…

Africa’s food currently fortified to address malnutrition

Posted on 9 October 20179 October 2017 by Gambeta News

Dangote Industries Ltd pledges commitment towards Africa’s continued growth through fortifying it’s processed foods with essential nutrients to address malnutrition. Africa according to Aliko Dangote (President, Dangote Industries Ltd) is projected to have the world’s largest workforce by 2030. This abundance of human resources can be seen as a blessing or a curse, depending on the decisions we make today. According to Mr. Dangote, “we need to invest in their health and wellbeing, and perhaps…

African Finance Corporation to fund Natural resources development across Africa

Posted on 9 October 20179 October 2017 by Gambeta News

AFC have set aside US$700m for the development of Africa’s Natural resources sector. At the 9th West and Central Africa (WACA) Mining Conference and Exhibitions, Begna Gebreyes , the Vice President, Investment, of African Finance Corporation (AFC) said, AFC will be making available about US$700 million for the development of the natural resources sector of the continent. In his statement he buttressed that for the socio-economic development of African countries, more infrastructure will be needed by resource extraction firms….

POWERFUL MICRO DIAPHRAGM PUMP FOR MINI- SENSORS

Posted on 9 October 20179 October 2017 by Gambeta News

Heart and lungs tends to be harmed by particulate matters. In the nearest future, a smartphone with an inbuilt gas sensor could be used to warn of heavy exposure. Researchers at Fraunhofer have developed a powerful micro diaphragm pump for delivering ambient air to the sensor that would help the sensor respond quickly and provide accurate measurements. According to Dr. Martin Richter, department head of micro dosing systems at the Fraunhofer Research Institution for Micro-systems…

ZENITH BANK EXPANSION PLAN

Posted on 9 October 2017 by Gambeta News

Zenith bank chairman, jim ovia discusses the expansion plan of the bank, also had a talk on Nigeria and Africa economy. Zenith bank is in the UK and several African countries, including The Gambia, Sierra Leone, and so on. The bank stocks are traded on the London Stock Exchange. This shows the bank is rapidly expending worldwide. According to the chairman, ”Our UK subsidiary recently opened a branch in Dubai as part of our expansion…

SECTORS IN GHANA WILL BE REORGANISED WITH THE NEW BANKING REGULATION

Posted on 9 October 20179 October 2017 by Gambeta News

Ghana’s central bank is tightening bank’s capital requirements because of banking crisis in the country. On 14th August, a deal was approved by the country’s central bank called the Bank of Ghana(BOG) to allow Ghana Commercial Bank (GCB) to take over the deposits and some of the assets of UT Bank and Capital Bank. Because of “severe impairment” of capital, BOG announced that it had revoked the licences of the banks. Losing their licence was a shock for all …

NIGERIA APPROVES PAYMENT OF US$ 72M DISCO ELECTRICITY BILL DEBT

Posted on 6 October 20179 October 2017 by Gambeta News

Nigeria government approves electricity bill debt payment but the amount not accepted by Disco. The approval of the payment which is up to US$72million is for power consumed by Ministries, Departments and Agencies (MDAs). The fund which is expected to be paid to the Electricity distribution companies is actually below what they are requesting and are claming that the money is suppose to be US$ 194million. Minister of Power, Works and Housing, Babatunde Fashola; ”The electricity companies may…

US$ 3.4BN ETHIO-DJIBOUTI RAILWAY PROJECT COMMENCE RIDE TRIAL

Posted on 6 October 2017 by Gambeta News

Ethiopia and Djibouti combine resources to build a railway which is expected to be managed by both China’s CREC and CCECC. Ethiopia and Djibouti has combined to construct a railways that is expected to help both countries citizens have a better relationship. The railway project which was awarded to both China Railway Engineering Corporation (CREC) and China Civil Engineering Construction Corporation (CCECC) is worth US$ 3.4bn and is expected to commence a ride trial as the…

GROWTH IN GHANA’S MANUFACTURING SECTOR

Posted on 5 October 2017 by Gambeta News

Ghana’s manufacturing sector experiencing growth as Government addresses major industry challenges. Ghana Statistical Service has just reported that the country’s manufacturing sector has recorded a 6.6% growth in quarter two(2) of 2017, this is a positive result when compared to 5.9% growth of quarter one (1). The manufacturing sector which is considered as one of the most auspicious sector of the country took a plummet in 2012 when growth dwindled from 28.4% in quarter one(1)…

GHANA GIRLS GETS ICT SKILLS EMPOWERMENT FROM SAMSUNG

Posted on 5 October 20175 October 2017 by Gambeta News

Samsung is trying to reduce gender gap on STEM through empowering Ghana girls with ICT skills. In Accra, 40 Samsung employees from their headquarters in south Korea have gathered to take part in the company’s week-long initiative, which has been carried out in partnership with Better World. Every year, Samsung employees tends to give their time and skills to an ideal which they feel will add value to one of the regions in which the company…

US$24BN SCANDAL HIT STATE OIL CORPORATION, NIGERIA

Posted on 5 October 20175 October 2017 by Gambeta News

Nigerian National Petroleum Corporation (NNPC) boss on tension as Minster of State for Petroleum Resources expose illegal contract deal. Mr Ibe Kachikwu, the Minster of State for Petroleum Resources, has given details to the presidency of some questionable dealings of the Group Managing Director of NNPC, Maikanti Baru. Mr. Kachikwu on an August 30 correspondence said Mr. Baru bypass procurement regulations in awarding a series of contracts which were up to US$25 billion, which he…

NEW FLEXIBLE TRANSISTORS FOR ELECTRONICS

Posted on 5 October 2017 by Gambeta News

The most functional flexible transistor in the world has just been created by a team of University of Wisconsin-Madison engineers. it is fast, simple and inexpensive to fabricate. This advancement in flexible technologies could open the door to an increasingly interconnected world where smart wireless technologies can be easily connected to other small devices and not experience any interference when these devices curve, bend, stretch or move.

FLOOD GAVE WORKERS QUIT NOTICE IN SOUTHERN NIGERIA

Posted on 5 October 20176 October 2017 by Gambeta News

Old secretariat complex at Asaba, Delta State was flooded and it prevented workers from entering their offices On Wednesday flood prevented Delta state civil servants from entering their offices at the old secretariat complex that is located on summit Road Asaba. Newsmen reports that the flood occurred due to the Tuesday night’s downpour in the area. At the entrance of the secretariat complex, workers gathered with their cars parked on the Summit Road as flood took over…

AIRTEL LAUNCHES 4GLTE TELECOMMUNICATION TECHNOLOGY IN UGANDA

Posted on 4 October 20174 October 2017 by Gambeta News

Airtel Uganda improves in its network and still keeping it cheap for subscriber. The 4G LTE network will enable Airtel Uganda to provide its subscriber around the country the fastest available speed and an improved experience in internet based activities such as video conferencing, mobile web access, amongst others. According to Airtel managing director, V.G Somasekhar, with the 4G LTE technology, customers would have an overall improved internet experience at an affordable rates. he added…

MAERUE MALL IN NAMIBIA UNDERGOES RENOVATION

Posted on 4 October 2017 by Gambeta News

Namibia’s largest shopping mall to be renovated in order to include additional features. Maerue mall which is the largest shopping mall in Namibia is currently undergoing renovation in other to include additional features and cement its place as the country largest mall by living to its new motto ‘Be part of the family’. CEO of Oryx Properties, Carel Fourie; “Motivation of the refurbishment is due to the desire to create a place for Namibians to not…

UGANDA REDUCES LENDING RATES TO 9.5%

Posted on 4 October 2017 by Gambeta News

Bank of Uganda reduces lending rates to 9.5%, to help boost private sector credit growth. Aiming at stimulating the economy and boosting private sector lending, Uganda’s Apex bank, Bank of Uganda have reduced the Central Bank Rate (CBR) from 10% to 9.5%. This reduction have been confirmed as the lowest the country have known since 2011, as the government targets stabilization of its market using short term interest rates. Here is a statement from the…

IN SIX MONTHS U.S SPENT $2.7BN ON NIGERIA CRUDE OIL

Posted on 4 October 20174 October 2017 by Gambeta News

Nigeria gets a good business relationship with the U.S as they inject $2.7billion just in six months into their economy. Just in six months the U.S spent $2.7 billion on oil imports from Nigeria, they agreed to increase its import of nigeria crude oil by 32.1percent to 52.36 million barrels in the first half of the year. According to the latest data revealed by the US Energy information administration, the statistical arm of the Energy department, the…

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