The African Development Bank (AfDB) will soon launch ‘Green Baseload’ Facility to provide concessional finance to support reliable and affordable renewable energy, the bank’s president Akinwumi A. Adesina said. Speaking at the One Planet Summit in Nairobi, Adesina said that the Bank would commit at least US$25 billion towards climate finance. In his words, the […]
The government of Rwanda has signed a concessional loan agreement with The Arab Bank for Economic Development in Africa (BADEA) to finance rural electrification project in Nyamagabe and Nyaruguru Districts in the East African nation. The US$ 20 million loan will be dedicated for the supply and construction of distribution networks and meters and service […]
In Liberia, about 102,000 households will soon be connected to the national grid to increase reliable access to affordable electricity throughout the West African nation, Liberia News Agency (LINA) reported. This initiative will include the Monrovia Consolidation, Kakata Corridor and the Monrovia-Bomi Corridor, the state-run news agency said quoting Information Manager at the Public Affairs […]
Oslo-based exploration firm Aker Energy has found oil in the Pecan South-1A well, offshore Ghana after a drilling campaign in the West African nation. The company has estimated the discovery at 450-550 million barrels of oil equivalent. Further analysis is currently ongoing and the company will commence sidetrack drilling in order to confirm initial findings […]
Tunisia’s flagship carrier will shed over 1,000 jobs by 2020 as part of austerity measures by the state to keep the airline in operation. Transport minister Hichem Ben Ahmed has told administrative reforms committee in the parliament that 1,146 jobs will be cut off from the current 7,800 at the airline. The carrier operates 30 […]
zimbabThe government of Zimbabwe has laid off over 3000 workers, as President Emmerson Mnangagwa tries to make good on its promise to cut the bloated civil service. The move comes a month after the southern African nation’s Minister of Finance announced an intention to cut the salaries of cabinet ministers and senior civil servants by […]
China’s foreign minister, Wang Yi, on Thursday said Beijing will continue supplying loans to African governments despite accusations that China’s increased investments on the continent are aimed at gaining political influence. Wang Yi made the statement after a closed-door meeting with his Ethiopian counterpart WorkinehGebeyehu in the Ethiopian capital Addis Ababa. “China upholds the principle […]
The European Investment Bank has formally agreed a total of €495 million of new financing for three projects to support sustainable transport, clean energy and internet access projects in North, West and East Africa. The three projects, signed at the summit attended by heads of state and government from across Africa and Europe, earlier this […]
The European Commission has allocated additional €5 million to address the urgent needs of Burundian refugees living in neighboring countries. For 2018, the EU’s total humanitarian response to the Burundi regional refugee crisis therefore amounts to €13 million, the commission said in a press release. The European Union is closely monitoring the Burundi crisis and […]
Germany will extend the African Legal Support Facility (ALSF) a €4 million grant. The related was signed recently between the ALSF and German KfW Development Bank. This assistance builds on a 2016 Memorandum of Understanding between the two institutions under which ALSF was given a grant of €5 million. This financial assistance will support ALSF’s […]
Recent Comments