Africa Finance Corporation (AFC) acquires inaugural US$300 million facility from Export-Import Bank of China

Companies & Markets

Africa Finance Corporation (“AFC” or “the Corporation”) (www.AfricAFC.org), the leading infrastructure development finance institution in Africa, announces its successful acquisition of a loan facility from the Export-Import Bank of China (“CEXIM”) of a US$200m 5-year loan and a US$100m 5-year stand-by facility for general corporate purpose. The facility from CEXIM marks AFC’s inaugural financing facility from…

Kenya set to begin construction of second Nyali bridge

Infrastructure

Kenya is set to commence construction of a second bridge Nyali crossing in Mombasa. This is after the Kenya Urban Roads Authority (KURA) identified three firms to partner with under Public-Private Partnership (PPP). Kura communication officer John Cheboi confirmed the reports and said the firms selected include; Nyali Connect Consortium, IHI-Join-Acciona Consortium and Strabag AG. He however clarified that…

Egypt to invest US $83m in water projects

Infrastructure

The Egyptian government is set to invest US $83m in water and sanitation projects in bid to reduce water deficit facing the country. This comes after The Ministry of Irrigation and Water Resources signed an agreement with European Union (EU) to provide for cooperation under the National Plan for Water and Irrigation until 2037 as well as on some projects…

Donald Trump to rival China’s investment in Africa

News

President Donald Trump is expected within days to approve an initiative to overhaul US investment strategy in Africa. Kenya is likely to benefit from the plan designed by key figures in the US Congress in response to China’s enhanced economic and political influence in the Sub-Saharan region. A State Department official told reporters last week…

Donald Trump to rival China’s investment in Africa

News

President Donald Trump is expected within days to approve an initiative to overhaul US investment strategy in Africa. Kenya is likely to benefit from the plan designed by key figures in the US Congress in response to China’s enhanced economic and political influence in the Sub-Saharan region. A State Department official told reporters last week…

Congress takes the lead on US-Africa policy

News

While the nation has been transfixed by the confirmation hearings of Judge Brett Kavanaugh for a seat on the Supreme Court, Congress passed significant legislation on Africa that has attracted virtually no attention. On October 3, the Senate passed the Better Utilization of Investments Leading to Development Act, better known as the BUILD Act. President…