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AfricaMoney | September 22, 2017

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AfDB SME Program: boosting inclusive growth in Africa

July 25, 2013 |

The African Development Bank (AfBD) have approved this week the Africa Small and Medium Enterprises (SME) Program, worth US$ 125-million, over a 4-year period, combined with a US $3.98-million technical assistance package granted by the Read More

Siemens to power Mozambique port

July 24, 2013 |

African Review reported that German company Siemens has won a contract worth more than US$150mn for installing an electricity supply system for deep-water port at Nacala-a-Velha in northern Mozambique.  The contract was awarded by the Nacala Integrated Logistics Corr...
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The “Best Bank in Southern Africa” awarded to AfrAsia

July 24, 2013 |

AfrAsia Bank has emerged as the “Best Bank in Southern Africa 2013” at the annual African Banker Awards ceremony held recently at Morocco. The event took place during the annual African Development Bank meetings, acting as official patron, and was attended by Thi...
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Paladin Energy posts a record production

July 19, 2013 |

Paladin Energy, a uranium mining firm, said that it has posted a ‘record production’ in during its financial year, laying considerable emphasis by the exceptional yield at its African operations, reports Ventures Africa.  Overall production surged 20 percent, tou...
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Absa’s NewGold ETF on the SEM this month

July 19, 2013 |

Mining Weekly reported yesterday that Absa Bank’s corporate and investment banking division will be listing its NewGold exchange-traded fund (ETF) on the Mauritius Stock Exchange (SEM), on July 26.  The listing on the SEM would mark the fifth exchange listing for ...
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AfDB, better information means better development

July 11, 2013 |

The African Development Bank (AfDB) believes that investment in better information is investment in better development, as transparent information on aid is fundamental for democratic ownership and accountability. It enables citizens and their representatives to monit...
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Standard Chartered to commit $2 billion to “Power Africa”

July 8, 2013 |

Standard Chartered has committed to financing more than USD2 billion in energy projects under the Power Africa Initiative, a five-year partnership between the United States, six African governments and the private sector. The partnership represents a coordinated cross...
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Zimbabwe colliery gets new machinery

July 4, 2013 |

African Review reports that Hwange Colliery Company has acquired a new batch of mining equipment from Chinese firm Sany Heavy Equipment Corporation (SHEC) for stepping up mining activity at its colliery located in the Hwange town of Zimbabwe. Acting managing director ...
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Old Mutual partners Faulu Kenya DTM LTD

July 4, 2013 |

Old Mutual plc ("Old Mutual" or "the Group") announced to the press that its Emerging Markets business is to enter into a strategic partnership with Faulu Kenya DTM LTD ("Faulu") through the acquisition of a controlling stake in this business.  Faulu was the first De...
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Heirs Holdings to commit funds for African power sector

July 3, 2013 |

African Review reported that Heirs Holdings, owned by the African businessman Tony Elumelu, has committed US$2.5bn for improving the African power sector.  The company, which is a pan-African proprietary investment firm, is also the single largest investor included i...
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AfDB to deepen reforms on ‘Power Africa’

July 3, 2013 |

In a press release, the African Development Bank (AfDB) said that as part of its support for U.S. President Barack Obama’s Power Africa initiative, deepen and expand its work in reforming the energy sector.  Already a major investor in the energy sector, the AfDB w...
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AECF invests in solar energy projects in Africa

June 28, 2013 |

According to African Review, the Africa Enterprise Challenge Fund (AECF) is investing $300,000in a green energy company BBOXX for solar energy projects across the African continent.  BBOXX designs, manufactures and distributes solar powered battery packs to the devel...
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Foreign direct investment to Africa increases

June 28, 2013 |

The World Investment Report 2013, recently issued by the United Nations Conference on Trade and Development (UNCTAD)  noted that the FDI to Africa increased, defying the predictions of 2012. As reflected in the FDI make-up of the top recipient countries (figure 1), i...
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AfDB’s Kaberuka heads to Tanzania: energy in focus

June 27, 2013 | The President of the African Development Bank (AfDB) Donald Kaberuka will reach Tanzania during the weekend for the visit of Barack Obama, President if the US, says the AfBD in a press release.  The meeting with Obama and African stakeholders will focus on an initiative to foster economic growth an...
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“The New Deal for Somalia Conference” 16th September 2013

June 27, 2013 |

The European Council said in a press release that Federal Government of Somalia and The European Union (EU) will co-host “The New Deal For Somalia Conference” in Brussels on 16 September 2013. The international conference will endorse the “New Deal Compact” th...
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Obama’s visit to SA will strengthen ties- Zuma

June 25, 2013 |

Ventures Africa reported that the United States President Barack Obama’ s visit to South Africa will help strengthen ties between the two countries. Ventures Africa was quoting Jacob Zuma, President of South Africa, this week. “This will present an opportunity to ...
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Largest coal mine to be build in South Africa

June 24, 2013 |

African Review reports that Coal of Africa announced an investment of $391 million to be used in the construction of a coal mine in South Africa. Construction of the Makhado project, in the Limpopo Province, is expected to commence soon. The company h...
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Abraaj Group acquires stake in African frozen dairy business

June 24, 2013 |

According to a press release from the Abraaj Group, a leading investor operating in growth markets, it was announced recently its agreement to acquire a 100% stake in Fan Milk International (“FMI”), West Africa’s market leading manufacturer and distributor of fr...
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IMF’s Africa Training Institute starts operations in Mauritius

June 21, 2013 |

In an article published by All Africa, Mauritius is hosting the IMF’s Africa Training Institute this week. The two-week course is focused on Economic Issues in Regional Integration. The Africa Training Institute plans to train over 200 officials per year through eig...
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BRCK launched by Kenya Techies

June 21, 2013 |

An amazing break-though in Africa! According to a report filed by Ventures Africa, founders of Ushahidi, David Kobia, Juliana Rotich, and Erik Hersman, are set to launch a modem, BRCK, that provides internet connection even without electricity. Their aim is combatting...
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G8 commit to development efforts of African partners

June 20, 2013 |

According to the African Development Bank, in a statement released  this week  the closing of the Group of Eight 2013 summit in London, the G8 countries of France, Germany, Italy, the United Kingdom, Japan, the United States, Canada and Russia prais...
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BOI taps African market for investment, holds roadshow

May 7, 2013 |

Photo: Ken Poonoosamy, Managing Director, BoI

A branch of the Board of Investment (BOI) of Mauritius, Africa Centre for Excellence is organising an investment prospection mission in East Africa from May 6 to 10. The delegation of t...
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Dubai to host Africa Global Business Forum

May 5, 2013 |

Delegates comprising business leaders and policymakers from around the world are set to converge on Dubai in May to discuss investment opportunities in Africa. Dubai Chamber of Commerce and Industry together with the Common Market for East and Southern Africa (COMESA)...
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Dubai Expo 2020 reports on two social initiatives in Africa

May 2, 2013 |

Under the theme ‘Connecting Minds, Creating the Future’, Dubai is building its Expo 2020 bid on three sub-themes representing the forces that inspire global development: sustainability (lasting sources of energy and water); mobility (smart systems of logistics and...
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Tsogo Sun commits US$100 million towards expansion into Africa

May 2, 2013 |

Tsogo Sun Group announced that it will invest US$100 million (R900 million) into two exciting projects in Mozambique and Nigeria. This is in line with the group’s growth strategy.  Tsogo Sun will spend US$30 million (R270 million) to expand its hotel in Mozambique,...
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ICANN to open Istanbul hub, covering Africa

April 30, 2013 |

(ICANN President and Chief Executive Officer Fadi Chehadé with Binali Yıldırım, Turkey’s Minister of Transport, Maritime Affairs, and Communications)

ICANN President and Chief Executive Officer Fadi Chehadé yesterday announced the opening of its first hub ...
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African healthcare attracting private investors

April 28, 2013 |

Is private investment the future of health care? “Until governments start making the needed investment into public health,” says one Zimbabwean local, “foreign investors are the only ones showing they have an interest in the sector…just hard to understand.” ...
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Support to build safety nets in Low-income Countries tops

April 26, 2013 |

The World Bank announced this week that financing for social safety net programs in low-income countries has reached a record high. Bank support for building safety nets from the International Development Association (IDA) – the Bank’s fund for the poorest countr...
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Innovation Prize for Africa announces 2013 finalists

April 25, 2013 |

Ten African innovators have developed practical solutions to some of the continent’s most intractable problems. Chosen from more than 900 applications from 45 countries, the finalists for the Innovation Prize for Africa (IPA) 2013 provide practical examples of Afric...
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AfDB to host the SE4ALL

April 24, 2013 |

During the first Advisory Board Meeting of the Sustainable Energy for All (SE4ALL) Initiative, Donald Kaberuka, President of the African Development Bank (AfDB), announced that the AfDB will host the SE4ALL Africa Hub in cooperation with its African partner institutio...
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