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KFED sets operational framework for Entrepreneurship Support Agreement with Togo

The Khalifa Fund for Enterprise Development, KFED, has announced an operational set of standards and guidelines to be followed under the recently signed Entrepreneurship Support Agreement with Togo. The strategic agreement, which was signed last March, will provide funding assistance of over $15 million (AED55 million) to local small and medium enterprises, SMEs, in Togo, […]

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Don’t expect debt relief, US warns Africa

Tibor Peter Nagy, the US Assistant Secretary of State for African Affairs, has warned African countries running up debt that they should not expect to be bailed out by western-sponsored debt relief. Referring to the International Monetary Fund and World Bank’s Heavily Indebted Poor Countries (HIPC) Initiative, Tibor warned African nations that the US would […]

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Comoros: AfDB approves €25.22 million for renewable energy

Comoros: AfDB approves €25.22 million for renewable energy

The African Development Bank (AfDB) has approved the disbursement of €8.63 million to Comoros for the implementation of a power generation program. The funding according to the Abidjan-based financial institution is in addition to the one initially approved in September 2013, resulting in a total of €25.22 million for the Energy Sector Support Project (Pasec). […]

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France allocates Togo €14 million for waste management

The French Development Agency (AFD) approved €14 million in funding to the municipality of Lomé, to improve waste management in Togo’s capital. Lomé, a city of more than 1.4 million inhabitants, suffers from waste pollution problems. The capital city has only one landfill at Agoè Nyivé, where more than 280,000 tons of waste are sent […]

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Kenya: President Kenyatta’s housing project attracts $30bln investment

The affordable housing agenda of President Uhuru Kenyatta of Kenya has received investment offer of almost $30 billion (Sh3 trillion), way above the target of Sh2 trillion, principal Secretary, Housing Urban Development Charles Higa said. The project, which is part of President Uhuru Kenyatta’s Big Four Agenda, is expected to deliver one million housing units […]

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South Africa: Carbon tax implementation expected this week

South Africa’s long-delayed carbon tax will be implemented on 1 June 2019. The bill has been enshrined in law, the treasury said on Sunday. The carbon tax has already been postponed at least three times since first being mooted in 2010, after mining companies said it would erode profit. The tax will be introduced in […]

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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 […]

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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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