The World Bank has agreed to offer the Government of Liberia an initial US $500m for road projects across the country. This is according to Information Minister, Lenn Eugene Nagbe. The Information Minister, Mr Nagbe said the government is considering the offer in a positive manner adding that modalities are ongoing to ensure that the money is made available. Upon…
A group of Mozambique bondholders proposed the government pay them portions of future natural gas revenue as part of a restructuring of the nation’s Eurobonds, according to two people familiar with the discussions. The so-called Global Group of Mozambique’s Bondholders formally made the proposal to the southeast African nation, which also includes cash-flow relief until…
The Government of Gabon through its financial institution, Caisse des Dépôts et Consignations (CDC) has signed an agreement with ENGIE to construct eight hybrid solar power plants with a combined capacity of 2.2 MW in the country. Construction of the project is set to begin in a few weeks and upon completion it will contribute…
The International Finance Corporation (IFC) has partnered with Gaia Energy which is a Moroccan company to establish a joint platform for the development of wind power and renewable energy projects in Africa. Confirming the news was Moundir Zniber, founder and President of the company who said that IFC’s expertise in financial structuring and mobilization, as…
The Federal Government of Nigeria has assured that work on the Apapa corridor of the Lagos-Ibadan Rail project will commence this August. Lagos State Governor Akinwunmi Ambode confirmed the statement and commended the Government’s action expressing optimism that the development would go a long way to enhance movement of cargos from Lagos to other parts…
Tanzania is set to begin construction of the 6.2 km Selander bridge in Dar es Salaam following signing of a Memorandum of Understanding between Tanzania and South Korea. The MOU which was signed in the presence of President John Magufuli and the visiting South Korea Premier, Mr Lee Nak-yeon, will see construction costs of the…
The Government of Uganda is set to receive a boost to its energy sector after India has offered a loan of US $141m to help the East African country expand its electricity distribution infrastructure. According to Ugandan President Yoweri Museveni, the loan would be extended to Kampala to build electricity transmission lines and substations. The…
New York-headquartered computing firm Soluna, is building wind-powered blockchain computing infrastructure in Morocco, to bring a clean and sustainable alternative to the current cryptocurrency mining approach. The firm plans to develop its own 900MW wind farm power plant in Morocco and combine it with the company’s private computing facilities to help power the blockchain in…
A giant refrigerator will replace the village Jonas Alide Saide has called home for 70 years and he’s not happy about it. As Mozambique’s plans to export natural gas gather pace, Saide’s northeastern settlement of Quitupo will make way for a plant planned by companies including Anadarko Petroleum Corp. Located on a site larger than Manhattan, the…
The Group Chief Executive Officer, Dangote Cement Plc, Joe Makoju, has said the company has invested a sum of $3bn to build manufacturing plants and import/grinding terminals across Africa. The company’s operations are in Cameroon (1.5 metric tonnes per annum clinker grinding), Congo (1.5Mta), Ghana (1.5Mta import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.7Mta import),…