Ethiopian Airlines has signed an agreement with South African aerospace company Aerosud to establish a joint-venture manufacturing company. The Joint Venture Aerospace Company will manufacture and supply various aircraft parts to Boeing, Airbus and other aerospace companies. The manufacturing facilities are expected to be set up in the vicinity of Bole International Airport just outside of…
The success of the African Continental Free Trade Area (AfCFTA) will rest significantly on the ability of the continent’s private sector to generate or create the goods that will enter the trade, Dr. Benedict Oramah, President of the African Export-Import Bank (Afreximbank), said on Sunday. Addressing Egyptian business leaders at a breakfast organized in Cairo, Dr. Oramah…
In a bid to encourage cryptocurrency and blockchain adoption in Egypt, the National Bank of Egypt (NBE) announced that it has joined the R3 Blockchain Consortium on April 22, 2018. R3 is a software enterprise firm that is working closely with over 200 financial institutions to develop its blockchain platform designed specifically for commercial use. Benefits of…
‘The investor meetings have shown fantastic African interest because of the consumer growth,’ said CEO Christian Chammas. Vivo Energy’s bet on fuel demand growth in Africa earned it a market value of almost £2 billion ($2.7 billion) in the largest initial public offering in London this year. Vivo — backed by the world’s largest independent…
The head of Libya’s National Oil Corporation, Mustafa Sanalla has said oil smuggling is costing Libya around $770 million annually. He said this while speaking at the first ever oil and theft conference in Geneva, Switzerland. He says at least 30 percent of oil produced in Libya is smuggled out of the country by petroleum companies, and by…
Tanzania presses on with its ambition to build a 2,100-megawatts (MW) hydroelectric power plant in the Selous Game Reserve despite warnings from conservationists about the adverse effect of such a project on animals in one of the world’s largest game reserves. During the weekend, Tanzania’s finance ministry said in a statement that President John Magufuli, who is…
The Namibian government, through the Interim renewable energy feed-in tariff project, has managed to connect nine of the 14 projects to the national electricity grid. The interim renewable energy feed-in tariff (REFIT) projects managed to feed a total of 93GW of electricity into the national grid in 2017. According to Mines and energy minister Tom…
WASHINGTON, April 26, 2018 — The World Bank today approved a $180 million International Development Association (IDA)* Guarantee to mobilize private sector financing to strengthen the financial position of Kenya Electricity Generation Company Limited (KenGen) and build energy security for all Kenyans. The project will build on Kenya’s gains that have diversified the energy mix and…
South Africa has expressed disappointment at not being granted exemption from the US Section 232 steel and aluminium tariff duties. Monday, 30 April, US President Donald Trump signed proclamations granting permanent country-exemptions to a select number of countries and extended by one month the Section 232 steel and aluminium tariff duty exemptions for some. “South…
Japanese multinational conglomerate Toshiba and Malawi’s Ministry of Natural Resources, Energy and Mining (MNREM) have concluded a memorandum of understanding (MoU) for the development of geothermal power. The MoU anticipates a comprehensive partnership in geothermal power projects including capacity building programmes in relation to the technology. Under the terms of the MoU, Toshiba will collaborate…