The Democratic Republic of Congo plans to start construction work this year on the frequently delayed Inga 3 hydro power project at a predicted cost of US $13.9bn, after receiving a joint bid from two previously competing consortia of investors. This is according to Bruno Kapandji, director of the Agency for the Development and Promotion…
The World Bank has approved a $455 million credit for the construction of critical high voltage transmission infrastructure that will support electrification of the southern and northwestern regions of the country. The project will also establish cross-border transmission capacity connecting Tanzania with the Southern African Power Pool (SAPP) and the Eastern Africa Power Pool (EAPP).…
Globeleq, lead partner in the Temane Energy Consortium (TEC), and Electricidade de Moçambique E.P. (EDM) have signed a joint development agreement, which will progress the 400MW gas-fired power project located at Temane in Inhambane Province. The agreement was signed on the sidelines of the 2018 Africa Energy Forum, in Mauritius. To date, Temane has been…
In response to low electrification rates in some remote areas across Africa, the African Development Bank (AfDB) has approved a proposal to help Zola EDF Côte d’Ivoire (ZECI), to mobilise a loan in local currency to the tune of $28 million. The loan has been arranged by Société Générale de Banque in Côte d’Ivoire (SGBCI)…
Small shipment sizes are one reason why. Dwell times (the time goods spend at a port without moving) are another. Some of these inefficiencies are due to inadequate infrastructural and human capacity; well-run African ports outside of South Africa tend to be those run by foreign-owned concessions. Were African ports to become more efficient, the…
Experts see the partnership between Morocco and Nigeria as a model for opening the path to South-South cooperation in Africa.
It took Pakistani financier Arif Naqvi about 15 years to build Abraaj into one of the developing world’s most influential investors. It’s taken less than five months for the Dubai-based buyout firm to reach the brink of collapse. Abraaj Holdings, which once managed almost $14 billion, has filed an application for a court-supervised restructuring in…
The Democratic Republic of Congo plans to start work this year on the frequently delayed Inga 3 hydropower project, after receiving a joint bid from two previously competing consortia of investors. One group led by China Three Gorges Corp. and another including Actividades de Construccion y Servicios SA of Spain submitted a joint bid on June 6 for the…
Barclays Africa Group Ltd. may halve the number of top jobs at its South African retail and business bank as it reorganizes after its British parent cut its stake, according to a person familiar with the matter. The Johannesburg-based lender started talks to consult executives on a plan that may result in the reduction of top…
Kenya’s economy grew at the fastest pace since 2016 in the first quarter as the country reaps the benefits of a calmer political climate and resurging agricultural output. Gross domestic product in East Africa’s largest economy expanded 5.7 percent in the three months through March from a year earlier, compared with a revised 5.3 percent…