Development Archives - Page 55 of 55

NIGERIA RECEIVES €31m FROM GERMANY’S KfW DEVELOPMENT BANK

Posted on 5 November 2018 by Gambeta News

KfW development Bank supports Nigeria’s Infrastructure development with €31 million investment. To help boost infrastructure development in Nigeria; the largest investment bank in Europe, KfW Development Bank have invested €31 million. Receiving the €31 million investment is Infrastructure Credit Guarantee Company Ltd (InfraCredit). InfraCredit is a specialised infrastructure credit enhancement facility by the Nigeria Sovereign Investment Authority (NSIA). NSIA purpose for establishing InfraCredit is to in fact effectively help enhance infrastructure investments in Nigeria. The 10-year…

CHAD TO RECEIVE US$125m SUPPORT FROM WORLD BANK

Posted on 31 October 2018 by Gambeta News

Chad to get US$125 million developmental support from World Bank To help support developmental projects in the Chad; World Bank have announced a US$125 million support for the Central African country. Acoording the the Bank, the support will two frameworks. The signatories for the support agreement were Chadian minister of economy, Issa Doubragne on behalf of the government and World Bank resident representative, François Nankobogo. The World Bank support will also provide budget support to…

NIGERIA SIGN MoU WITH JAPAN ON INFRASTRUCTURE INVESTMENT

Posted on 14 September 2018 by Gambeta News

Nigeria and Japan sign MoU on Infrastructure Investment. For the promotion of quality infrastructure investment between Nigeria and Japan, both countries have signed a memorandum of understanding (MoU). Representing both countries for the MoU signing in Abuja was Nigeria’s minister of transportation Rotimi Amaechi and Japan’s State Minister of Land, Infrastructure, Transport and Tourism, Tsukasa Akimoto. Nigeria as a developing country have a huge problem of infrastructural deficit. Japan have identified this problem and is…

CHINA OFFERING US$60bn IN FINANCING FOR AFRICA

Posted on 4 September 2018 by Gambeta News

China to support African development with US$60 billion China president Xi Jinping yesterday said the Chinese government will be financing Africa with US$60 billion. He added that Chinese companies will also invest at least US$10 billion over the next three years. He made this statement at the opening ceremony of the African leaders summit in Beijing. Mr. Jinping said the fund will support developments that Africans can see and touch. The developments/projects will also be green and…

TANZANIA MORE FAVORED WITH THE US$ 175bn GAS ROADMAP PROJECT

Posted on 27 July 201827 July 2018 by Gambeta News

Tanzania will benefit from US-led initiative to invest in gas plants in Africa. US companies will invest US $175 bn in gas power projects in Tanzania and eight other African countries. Other countries include Kenya, Côte d’Ivoire, Ghana, Nigeria, Senegal, Angola, Mozambique and South Africa. The countries were picked for there large populations, high gross domestic product. As well as there local gas resources or are planning liquefied natural gas (LNG) import projects. Hence, the…

AfDB : US$ 30m TO CONCLUDE CONNECTIVITY IN KENYA POWER SECTOR.

Posted on 27 July 2018 by Gambeta News

Kenya Power will see its funding for the Last Mile Connectivity Project doubled by African Development Bank (AfDB). AfDB gives Kenya US $30m for the first phase and second phase one of the Last Mile project money. The funds will cover 600,000 Kenyan households connected to electricity with 314,000 targeted in the initial phase. The Government is enhancing connectivity for Kenyan citizens from the funds advanced to the country. Funds will be implemented in projects…

KENYA GOVERNMENT SEEKING TO LOWER COST OF PROJECTS

Posted on 20 June 2018 by Gambeta News

Kenya Government looking to lower costs of crucial projects The government of Kenya through the Kenya Roads Boards (KRB), is in search of researchers, contractors and suppliers who will help to reduce its budgetary costs by at least 25%. Reducing the costs will enable them achieve more developmental projects. Chair person of KRB, Ms Rita Kavashe, said the key areas under consideration include; transport and housing infrastructure and research. Roads contribute about 60% of Kenya’s GDP, however its contribution is…

KENYA GOVERNMENT TO GIVE FUNDS TO COUNTIES FOR DEVELOPMENT

Posted on 5 April 2018 by Gambeta News

Kenya government set to release funds for counties to develop their various areas. The Kenya government has given the sum of Sh2 billion to counties in the country. The aim of the fund will be use for building, equipping and renovating polytechnics in the area. It will also support county governments in equipping technical and vocational centres.The support will also capture student fees. According to the Division of Revenue Bill, the additional conditional allocation implemented by the…

IBOM DEEP SEAPORT SEEK FUNDS FOR DEVELOPMENT IN NIGERIA

Posted on 12 January 2018 by Gambeta News

Promoter and the Nigeria government is seeking funds to develop the Ibom Deep Seaport which will drive inclusive economic growth in Nigeria and the West and Central African sub-region. The promoters and the Nigeria government is currently seeking funds for the development of ibom deep seaport which will be located in akwa ibom state in the southern part of Nigeria within a licensed free trade zone. The development which is expected to have a 2,565 hectares Greenfield…

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)…

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