The Federal Executive Council (FEC) has approved immediate renegotiations of the East-West road contract with the handlers as well as its early construction of the Oron-Calabar segment. Usani Uguru Usani ,the Minister of Niger Delta lamented that over the years, his ministry has been bedeviled with several abandoned projects, which are now being completed and…
El Gestor de Infraestructuras de Telecomunicaciones de Guinea Ecuatorial (GITGE) is officially inaugurating Equatorial Guinea’s new Ceiba-2 fiber optic cable project during a private event on June 4 in Malabo. Keynotes for the launch of the state-of-the-art fiber optic cable include the President of Equatorial Guinea, H.E. Teodoro Obiang Nguema Mbasogo, the Minister of Telecommunications…
India’s Engineering ,procurement and construction ,EPC firm Sterling and Wilson in India,is set to construct both the largest battery storage project and single battery installation in the whole continent in bid to boost education sector in Africa. Sterling and Wilson confirmed and said the project would be a first of its kind powering behind-the-meter clients…
The government of Korea has signed a letter of intent with the African Development Bank, AfDB to launch the Korea–Africa Energy Investment Facility (KEIF), which will provide significant support to the New Deal on Energy for Africa, with aims to achieve universal access to energy. The signing, which took place during the Korea–Africa Economic Cooperation…
Kenya is planning to construct four new state-of-the-art stadiums in Nairobi County. This is in a move to address the shortage in recreational facilities for the youth in the county and also to encourage more sporting activities. The Four New Stadiums Confirming the reports was Nairobi County Executive in charge of Education and Sports Janet…
A privately-owned Nigerian producer of building materials, Ibeto Cement Co. Ltd, has signed a deal to get $850 million in financing from Milost Global Inc, a New York-based private equity firm. According to Bloomberg, Milost will provide $500 million in equity and $350 million as debt to the Nigerian cement maker, Milost said in a statement on its website, citing a “binding”…
African central bank leaders are currently discussing whether to hold the yuan as part of their foreign reserves, highlighting the Chinese money’s rise as one of the world’s major reserve currencies. Government officials from 14 African nations in eastern and southern Africa are meeting today (May 29) in the Zimbabwean capital Harare to discuss sovereign…
Foreign investment in sub-Saharan Africa’s power sector has reached a record-high. Spurred on by the United Nations’ goal to ensure modern energy access for all by 2030, international donors have focused on increasing the region’s electrification access. It currently stands at only 35%, significantly less than any other part of the world. The focus on electrification is illustrated…
New World Bank support and some improvements in performance underpin government claims that Abuja can turn around Nigeria’s dysfunctional electricity supply industry, but with gencos going to court to obtain full payments of their bills, the outlook remains difficult – even though the project pipeline recorded by African Energy Live Data offers some reasons for…
While the U.S. and China are trying to outdo each other with import tariffs and the U.K. wants to break away from the European Union, African leaders are working on a free-trade agreement that will cover a whole continent. Talks to establish the African Continental Free Trade Area started in 2015 and while many signatures…