Africa Archives - Page 106 of 107

GERMANY’S DEVELOPMENT BANK ASSIST EGYPT ON CAPITAL PROJECTS

Posted on November 6, 2017 by Gambeta News

Germany’s Development Bank to fund capital projects in Egypt. Director of Germany’s KfW Development Bank Office in Cairo, Burkhard Hinz, have announced that the bank has agreed to support Egypt on its ongoing project with €1.8 billion. He also added that the total fund provided by the bank to Cairo have totaled to €5.5 billion since it began its operations in Egypt in the 1960s. The Development bank have been responsible for the establishment of some 900…

US$3.24m Water Supply project in Uganda completed

Posted on November 1, 2017 by Gambeta News

Communities gain from the completed Kapeeka Water Supply project in Uganda. The Kapeeka Water Supply project in Uganda worth about US$3.24m have just been completed. The project which was carried out by The National Water and Sewerage Corporation (NWSC) to benefit five sub-counties and Town Councils in both Nakaseke and Kiboga districts. The project which is intended to improve the economic welfare of people in the Luwero Triangle has already given access to clean and safe water to…

CONSTRUCTION OF LONGEST TUNNEL IN NORTH AFRICA PROGRESSING WELL

Posted on November 1, 2017 by Gambeta News

Good Progress reported on the construction of longest tunnel in North Africa. China Railway Construction Corporation Limited (CRCC) which is working on Algeria’s Gantas railway tunnel – the longest railway tunnel in North Africa, has officially announced the successful cutting through of the tunnel. The Chinese firm said that this is a major breakthrough in the construction project which have lasted about six years, as the rocky terrain had been a challenge that even lead…

Nigeria moves up 24 points in world’s ease of doing business ranking

Posted on November 1, 2017 by Gambeta News

Nigeria moves up in World Bank Business ranking According to World Bank 2018 reports, it has been confirmed that Nigeria have moved from 169th to 145th in the world’s ease of doing business ranking. Other countries who also improved their business environment through numerous reforms includes; El Salvador, India, Malawi, Brunei Darussalam, Kosovo, Uzbekistan, Thailand, Zambia and Djibouti. The countries together implemented a total of 53 business regulation reforms across 10 of the areas measured by…

CHINA ANNOUNCES PART CANCELLATION OF MOZAMBIQUE’S DEBT

Posted on October 30, 2017 by Gambeta News

China forgives part of Mozambique’s debt During a ceremony in Maputo, where Mozambique’s Deputy Foreign Minister Nyeleti Mondlane and the Chinese ambassador, Su Jian, signed various economic and technical cooperation agreements, it was announced that the interest on Chinese loans that should have been paid by the end of this year by Mozambique which amounted to 239.26 million yuans (about 36 million US dollars, at current exchange rates), have been pardoned. According to Mondlane, the debt cancellation was of…

TURKEY TARGETS US$1bn TRADING WITH GHANA BY 2020

Posted on October 30, 2017 by Gambeta News

Turkey seeks to increase its trading volume with Ghana to a billion dollars by 2020 Ghana-Turkey became Sub-Saharan Africa’s 3rd largest trading partner in 2016 with a trading volume of US$480 million, but the Ambassador of Turkey to Ghana, Nesrin Bayazit, has said that she is targeting to increase this volume to US$1 billion by 2020. Nesrin believes that with improved commitment and increased collaboration, among the two countries, the US$1 billion target can be achieved. A Joint Economic Committee…

ALCATEL AND IOX CABLE LTD TO CONNECT SOUTH AFRICA TO MAURITIUS AND INDIA

Posted on October 27, 2017 by Gambeta News

Africa to get improved Telecommunication and Internet service through the IOX Fiber Optic Submarine Cable System. A Mauritius-based fiber optic cable company, IOX Cable Limited, and Alcatel Submarine Networks (ASN), a telecommunications firm, have commenced survey for an 8,850 kilometers Undersea IOX Cable System which is intended to be the first open access cable system, that connects Africa to the Indian Ocean Islands of Rodrigues and La Ruenion. When completed in 2019 as planned, the communication…

ZAMBIA – A STABLE ECONOMY WITH AN UNSUSTAINABLE DEBT

Posted on October 27, 2017October 27, 2017 by Gambeta News

October 24, 1964 Zambia gained independence from Britain. Fifty-Three (53) years later, we took a look into this peaceful African country. Zambia recently celebrated it’s 53rd Independence Anniversary from Great Britain on October 24th. The event highlighted Zambia’s qualities, as being peaceful while promoting unity in the Southern African Development Community. These qualities makes the economy investment attractive for it’s thriving mining industry. During the event, President Edgar Chagwa Lungu awarded and honoured ten Zambians…

AfDB Releases list of top 10 richest Francophone countries in Sub-Sahara Africa

Posted on October 26, 2017 by Gambeta News

AfDb have compiled and released a list of the top 10 richest french speaking countries in Sub-Saharan Africa. In the latest reports by the African Development Bank (AfDB), The Democratic Republic of Congo (DRC) has been considered as the country with the highest Gross Domestic Product (GDP) in Francophone Sub-Saharan Africa (SSA) in 2017. The report which listed the top 10 richest French-speaking countries in the SSA, ranked 12th richest African country in 2017, DR Congo as number…

HUAWEI LAUNCHES ICT TRAINING PROGRAM FOR AFRICAN STUDENTS

Posted on October 26, 2017 by Gambeta News

Huawei, a Chinese Tech company has officially began a program that is aimed at equipping African students with ICT skills. The program which is part of Huawei’s global Corporate Social Responsibility (CSR) platform and also its most heavily invested CSR activity is called “the Seeds for the Future program”. Last week a set of Kenyan students flew to China for a two weeks language, culture and ICT training. Their program commenced after an opening ceremony was held…

ITALIAN FIRM TO BUILD 100MW SOLAR FARM IN ETHIOPIA

Posted on October 25, 2017 by Gambeta News

Ethiopia 100MW Solar farm project to get US$120m from Italian Firm. An Italian multinational manufacturer and distributor of electricity and gas, Enel Electricity Company whose Enel Green Power unit lead a consortium has been selected as the preferred bidder for a 100 megawatt solar farm in Ethiopia. The Consortium which also includes Ethiopian infrastructure company Orchid Business Group is to invest US$120 million in the project. Antonio Cammisecra, Enel Green Power boss said Ethiopia, which Africa’s most populous state after Nigeria,…

NIGERIA ENTERS LEAGUE OF STEEL EXPORTERS

Posted on October 24, 2017 by Gambeta News

Nigeria soon to become an African steel export giant. The latest development in the steel industry is an indication that soon Nigeria’s steel industry would be the next sector to watch out for after its Cement Industry. The largest steel manufacturer in Nigeria, African Industries Group has started exporting its product to Morocco, Egypt and Ghana, and is looking forward to go beyond Africa. Chairman, African Industries Group, Raj Gupta, while speaking at the unveiling of the company’s export activities to…

Jumia launches lending programme to support SMEs

Posted on October 24, 2017 by Gambeta News

Jumia launches lending program to aid SMEs in Africa Jumia during an event tagged Jumia Black Friday Vendor Launch which was held in Nairobi announced a lending programme targeted to benefit Small and Medium-sized Enterprises (SME’s) which are critical to Gross Domestic Product (GDP) growth and employment sector of any country. The lending program was first launched in Kenya, but now have been rolled out to other Jumia markets in Nigeria, Egypt, Morocco and Ivory Coast….

ZIMBABWE – LACK OF FUNDING STALLS POWER GENERATION PROJECTS

Posted on October 23, 2017 by Gambeta News

Over 30 Power generation projects stalled for the past 10 years because of lack of funding. Power shortages in Zimbabwe had led the Government to open the power sector to private investors so as to complement the country’s integrated power generation and distribution company, ZESA holdings. Over 30 Independent Power Producers (IPPS) were given power generation licenses with a combined capacity to generate 5039 MW. According to Gloria Magombo, Zimbabwe’s Energy Regulatory Authority (ZERA) Chief Executive Officer,…

SOLARNOW SECURES US$6m DEBT FACILITY

Posted on October 23, 2017 by Gambeta News

Ugandan solar startup SolarNow, receives US$6 million debt facility to help expand business. SolarNow – a startup which sells solar systems to rural households and businesses in Uganda with a 24-month credit facility, have just secured a US$6 million facility from SunFunder. The facility which is SolarNow’s second structured asset finance instrument arranged by SunFunder is intended to help it reach more clients and expand access to pay-as-you-go (PAYG) solar power. According to Willem Nolens, SolarNow’s Chief Executive Officer (CEO),…

AFRICAN TRADE CENTRE TO BE CONSTRUCTED IN ZIMBABWE

Posted on October 20, 2017 by Gambeta News

Africa trade centre facility to be constructed in Zimbabwe to promote Afreximbank. The trade centre is to be constructed in Zimbabwe by the Africa Export-Import bank (Afreximbank) which will enable the centre to be transformed into an iconic business complexes with integrated one-stop trade services shop that will help in the creation of mini business parks for African trade. President of Africa Export-Import bank, Dr. Benedict Oramah; ”I am happy to note that Zimbabwe will be the first…

US$50bn NEEDED TO MAKE NIGERIA AVIATION HUB FOR WEST & CENTRAL AFRICA

Posted on October 19, 2017 by Gambeta News

Experts project US$50 billion in the next 30 years can make Nigeria the Aviation Hub for West and Central Africa. CEO of RTC Advisory Services and expert in the aviation industry, Opeyemi Agbaje, during a presentation at the Colloquium 2017, Vision 2050 for Aviation Industry held in Lagos said, for the Nigerian Aviation Industry to grow to what is obtained in other parts of the world, and to actualize the vision of been the aviation hub…

UBER WEST AFRICA GETS NEW GENERAL MANAGER

Posted on October 18, 2017 by Gambeta News

Lola Kassim have been appointed by the private hire company, Uber, as the new General Manager for West Africa. Lola who is a seasoned professional with over 10 years of global experience had recently worked with McKinsey and Company as a management consultant, who provided strategic business advice and helped the energy, public and financial services sectors in West and Southern Africa to achieve organisational and operational improvements. On the appointment Lola had this to say; “I am…

JUMIA FOOD APPOINTS NEW MANAGING DIRECTOR

Posted on October 18, 2017 by Gambeta News

Jumia Food appoints new Managing Director who is keen on improving customer experience. Jumia Food Kenya, the online food shopping and delivery company with over 200 restaurants in Nairobi and Mombasa that supplies variety of cuisines including Kenyan, Chinese, Indian, Thai etc., have just appointed Shreenal Ruparelia to take over from Duncan Muchangi as the new Managing Director of the company. The appointment of Shreenal who have a rich background in Management Consulting, Start-Ups and eCommerce gathered…

AFRICA SET TO BE POWERED BY OFF-GRID SOLAR SYSTEM

Posted on October 11, 2017 by Gambeta News

Off-grid solar system to reach a capacity of 3000mw in Africa and Asia countries by 2022. In the world now, solar is currently the fastest energy source and gradually making a major impact in Africa continents. According to a report from International Energy Agency that in the next five years, off-grid solar capacity in Africa will be tripled which is expected to bring about basic electricity services to almost 70-million more people in Asia and sub-Saharan Africa. According…

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