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Nigeria unveils name, logo of new national carrier

Nigeria, Africa’s most populous nation, has officially launched a new national carrier, Nigeria Air, nearly 15 years after the previous state-run airline, Nigerian Airways, ceased operations. The name and logo of the new national carrier were unveiled in the United Kingdom at the Farnborough Airshow. With its tagline “Bringing Nigeria closer to the world,” Air […]

Dangote inks $650m loan for oil refinery project in Nigeria

Aliko Dangote, Africa’s richest man, founder and chair of the continent’s largest cement producing company, has signed a $650 million loan facility with the African Export-Import Bank for his oil refinery project in Nigeria. According to a report by the News Agency of Nigeria, the loan signing ceremony took place on Saturday in Abuja during […]

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South Africa: UAE to invest $10 bln in Tourism and Mining

South African presidency last weekend said the United Arab Emirates (UAE) has pledged to invest about $10billion in the southern African nation’s economy, including the tourism and mining sectors. Saudi Arabia committed a similar sum with a focus on energy during a Middle East visit by South African President Cyril Ramaphosa, the presidency said in […]

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China-built free trade zone inaugurated in Djibouti

The China-built International Free Trade Zone (DIFTZ) in Djibouti was inaugurated last week in the presence of several African heads of state. The $370-million project consists of three functional blocks located close to all of Djibouti’s major ports, and the pilot zone will have four industrial clusters, focusing on trade and logistics, export processing and […]

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Senegal: Rice production to exceed 875,000 tons in 2020

Rice production in the Senegal River Valley, is expected to rise from the current 455,000 tons to 875,000 tons by 2020, the director of development and local government support, Amadou Thiam, said. Speaking at the 10th General Assembly of SAED’s Amicale des conseillers agricoles et conseillères en promotion féminine, Thiam listed the various ingredients that […]

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Djibouti opens $3.5 billion Chinese-built free trade zone

The government of Djibouti on Thursday commissioned a $3.5 billion Chinese-built free trade zone, seeking to capitalize on its strategic position on one of the world’s busiest trade routes. Djibouti, one of Africa’s smallest countries, has become China’s “strategic partner” in recent years. Beijing has built a military base and a port in the Horn […]

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Ghana is open for business – President Akufo-Addo tells South Africans

Ghanaian President Nana Addo Dankwa Akufo-Addo on Thursday spoke at the Ghana-South Africa Business Forum, held in Pretoria, as part of his State Visit in South Africa. In his address at the forum, President Akufo-Addo said a strategic partnership between Ghana and South Africa is of the utmost importance, as it will empower the business […]

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Twenty-five African banks in the top 1,000 of The Banker 2018 report

In its 2018 report published earlier this week, The Banker Magazine placed twenty-five African banks among the top 1000 banks in the world. Standard Bank, First Rand, NedBank, ABSA, and Ecobank Transnational Incorporated have top the African ranking. These banks are mostly of South African origin. They are also among the top 10 African banks […]

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Côte d’Ivoire to build its first biomass power station from cocoa waste

Côte d’Ivoire, the world’s top cocoa producer plans to build a 60 to 70 megawatts (MW) capacity biomass power generation plant running on waste from cocoa pods. The project is part of the West African nation’s aim to develop 424 MW of biomass power generation capacity by 2030. The country produces around 2 million tons […]

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IMF to consider bailout for debt-crippled Congo Republic

The Executive Board of the International Monetary Fund will examine Congo Republic’s request for a bailout on July 6, the international lender said on Wednesday. Oil-producing Congo owes creditors at least $9.14 billion, equivalent to about 110 percent of gross domestic product, according to the IMF, which is considering a bailout. The IMF said it […]

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