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UAE investments in Egypt reach $6.66 billion in 2018

UAE investments in Egypt slightly went up in 2018 to reach $6.66 billion compared to $6.513 billion in 2017. The figures were disclosed by UAE ambassador to Cairo Gomaa Mubarak al-Junaibi during the fourth meeting of the UAE investors in Egypt. With a total of $6.66 billion investment last year, the UAE stands out as […]

Botswana announces massive investments in renewable energy

The government of Botswana has recently reached an agreement with the World Bank to develop a national strategic plan for the development of renewable energy in the southern African nation. The announcement was made by President Mokgweetsi Masisi last weekend in capital city Gaborone. The government would make massive investments in solar energy in order […]

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Nigeria: minimum wage to increase to $98

Nigerian President Muhammadu Buhari on Thursday signed into law a bill to increase minimum wage from 18,000 to 30,000 naira ($98) with immediate effect. According to Buhari’s senior aide and special assistant, Ita Enang, the implementation of the law takes effect as of April 18. The move comes after Unions went on strike last year […]

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Malawi: IFC invests in 258 MW hydroelectric project

The Government of Malawi has signed a partnership agreement with IFC InfraVentures for the development of the Mpatamanga hydroelectric project in the southern African nation. IFC InfraVentures – the IFC Global Infrastructure Project Development Fund – helps develop public-private partnerships and private projects for infrastructure in the poorest countries for the World Bank. The partnership […]

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Angola & USA sign anti-money laundering agreement

The Angolan Finance Ministry and the US Treasury Department signed a technical assistance agreement with the Financial Information Unit (FIU) and other bodies involved in the fight against money laundering and terrorist financing in the country. The agreement, signed in Washington over the weekend, provides for the opening of an Office of Technical Assistance (OTA) […]

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Burkina Faso eyes six solar power plants to boost renewables

Burkinabe government has signed an agreement with private power producers (IPPs) to develop six solar power plants to increase the rate of access to electricity in the West African Sahel nation. The plant will supply a total of 155 MW according to the Minister of Energy, Bachir Ismaël Ouédraogo, who signed several agreements with private […]

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BRICS to inject $2.3 billion into South Africa energy sector, others

The New Development Bank (NDB), the arm of the BRICS that provides financing to the poorest countries has signed agreements with Development Bank of Southern Africa (DBSA) Eskom, the South African national electricity transmission and distribution company for development of renewable energies and the construction of interconnection lines in the southern African nation. South Africa […]

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Guinea gets $106 million to develop off grid projects

In Guinea, the World Bank and the French Development Agency (AFD) will support electrification projects in the capital city Conakry, and develop off grid in more remote areas. The World Bank and AFD have lent $50 million and $56 million respectively to the West African nation to rehabilitate and extend the electricity transmission network. The […]

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Solar Energy: US to power 28 health clinics and 310 schools in Ghana

The US Trade and Development Agency (USTDA) is providing support for a detailed feasibility study for solar projects in Ghana, US Ambassador to Ghana Stephanie S. Sullivan said. According to the US diplomat, a new partnership between the Ghanaian Strategic Security Systems International company and its subsidiary Strategic Power Solutions, and the US Company AEG […]

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Afdb approves €12.5 million investment in Adiwale Fund 1 targeting Francophone West Africa

The Board of the African Development Bank has approved a €12.5 million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in Francophone West Africa. With a target fund size of €75 million, the Fund will take minority stakes in SMEs that are […]

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