KENYA SECURE US$746.8MILLION FOR ISIOLO-MANDERA ROAD UPGRADE

KENYA SECURE US$746.8MILLION FOR ISIOLO-MANDERA ROAD UPGRADE

Kenya Government has secure a loan worth US$746.8m(Sh81billion) from the World Bank for the upgrading of Isiolo-Mandera road.

The 750-kilometre Isiolo-Mandera road is aimed at improving the movement of people and goods, digital connectivity and access to social services for over 3.2 million people living in the North-Eastern region where

Read More

AFDB SIGN LOAN DEAL WITH SOUTH AFRICA TO BOOST TRANSPORT SYSTEM

AFDB SIGN LOAN DEAL WITH SOUTH AFRICA TO BOOST TRANSPORT SYSTEM

In a bid to help develop the nation’s transport system, The African Development Bank (AFDB) and SA Taxi Development Finance Proprietary Limited has signed a loan agreement.

The deals which is worth US$100 million will help support the firm growing strategy to empower taxi operators with limited access to finance

Read More

KENYA REQUEST US$750M FROM WORLD BANK FOR DEVELOPMENT

KENYA REQUEST US$750M FROM WORLD BANK FOR DEVELOPMENT

Kenya Government request US$750million from World Bank for infrastructural developments

Kenya Government has ask for fund from the world bank for development of different infrastructure. The fund will be use to provide affordable housing, agriculture and other projects. The request is worth US$750million.

The request is the first time in …

Read More

NIGERIA GOVT. REQUEST FRESH LOAN FROM CHINA EXIM BANK

NIGERIA GOVT. REQUEST FRESH LOAN FROM CHINA EXIM BANK

Chibuike Rotimi Amaechi say nigeria to request fresh loan form china exim bank

Nigeria has requested a loan from China Exim Bank for the construction of a coastal line. The fund which is worth US$ 1.8billion will help the completion of the project according to Minister of Transportation.

The actual …

Read More

FRANCE TO SUPPORT ACCESS TO WATER AND SANITATION IN UGANDA

FRANCE TO SUPPORT ACCESS TO WATER AND SANITATION IN UGANDA

French Development Agency (AFD) supports access to water and sanitation in Uganda with €270 million

The Ugandan government and the French government via French Development Agency (AFD); have signed a loan deal to help support access to water and sanitation in Uganda. The loan deal comprises of two separate financing …

Read More

STERLING BANK SIGNS US$65 billion LOAN DEAL WITH BADEA

STERLING BANK SIGNS US$65 billion LOAN DEAL WITH BADEA

Sterling Bank and The Arab Bank for Economic Development in Africa (BADEA) signs US$65 billion deal

Nigerian Bank, Sterling Bank have signed a deal to receive a US$65 billion loan facility from The Arab Bank for Economic Development in Africa (BADEA).

According to Sterling Bank’s Executive Director, Corporate & Investment …

Read More

AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFC acquires US$300m loan facility from CEXIM

Leading infrastructure development finance institution in Africa, Africa Finance Corporation (AFC) successfully acquired a US$300 million loan from Export-Import Bank of China (CEXIM). Making up the loan is a US$200 million 5-year loan and also a US$100 million 5-year stand-by facility. The loan …

Read More

TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

TUNISIA RECEIVES US$245m AS PORTION OF IMF LOAN

Tunisia gets US$245 million loan installment from IMF

According to reports, the International Monetary Fund (IMF) have approved a loan installmental payment of US$245m to Tunisia. This approved sum is the fifth payment under the loan programme between IMF and the North African country.

The IMF loan programme will aid …

Read More

MOZAMBIQUE SECURE LOAN FOR MOATIZE-MACUSE RAILWAY CONSTRUCTION

MOZAMBIQUE SECURE LOAN FOR MOATIZE-MACUSE RAILWAY CONSTRUCTION

Mozambique secures loan for its moatize-macuse railway project which will also help the nation coal production sector.

Mozambique has secure a loan worth US2.7Billion from china for the construction of a 639 km-railway. Meanwhile it will transport coal from the mines of Moatize and Chitima in Tete. It will also …

Read More

NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

NIGERIA GETS US$2.1bn LOAN FROM WORLD BANK

World Bank outlines US$2.1 billion concessionary loan for Key projects in Nigeria.

The World Bank have approved a US$2.1bn project support loan for Nigeria. The loan is for the support of seven(7) key projects in the country. The projects includes nutrition, access to electricity, fiscal transparency of states, eradication of …

Read More

MAURITIUS AGREES TO CONSTRUCT AND EQUIP FLACQ HOSPITAL

MAURITIUS AGREES TO CONSTRUCT AND EQUIP FLACQ HOSPITAL

Mauritius to construct and equip first teaching hospital – Flacq Teaching Hospital.

The republic of Mauritius have entered a loan agreement with Kuwait Fund for Arab Economic Development. The agreement is for the financing of the construction and equipping of the first phase of Flacq Teaching Hospital project.

The project …

Read More

AFDB APPROVE LOANS TO IVORY COAST AND MOROCCO FOR RENEWABLE PROJECTS

AFDB APPROVE LOANS TO IVORY COAST AND MOROCCO FOR RENEWABLE PROJECTS

Ivory coast and Morocco gets loan from AFDB for Renewable projects.

The both country are set to get US $324m loan from the Africa development bank to support projects in their countries that will increase power supply and keep economic growth on track.

Morocco is expected to get US $265m …

Read More

CONSTRUCTION OF GUINEA’S NEW BAUXITE MINE GETS FUNDS FROM AFDB

AFBD approve loan for new bauxite mine construction in Guinea which will help achieve the nation Vision 2035 goals.

Africa Development Bank (AFDB) has continue its strategic priorities on development with the approval of US $100m loan for a railway, port and mine construction in Guinea with the project in …

Read More

NIGERIAN SENATE INVESTIGATES ETISALAT US$1.2bn DEBT

NIGERIAN SENATE INVESTIGATES ETISALAT US$1.2bn DEBT

Etisalat Nigeria, now referred to as 9 Mobile, took loan from 13 banks amounting to US$1.2bn, but failed to make repayments.

The Nigerian senate in a bid to intervene in the debt crisis have directed its Committees on Banking, Communications, Capital Market and National Security to investigate the management and …

Read More

UNION BANK TO IMPROVE AGRIBUSINESS LENDING IN NIGERIA

UNION BANK TO IMPROVE AGRIBUSINESS LENDING IN NIGERIA

Union Bank Plc, one of Nigeria’s oldest banks, was established in 1917 has officially opened a N50 billion rights issue to the public which it hopes to deploy into raising its capitalization and growing agribusiness loans.

The bank, had gotten approval from the Securities and Exchange Commission (SEC) to sell …

Read More