The ministry of Housing and Urban Development in Kenya has awarded Chinese Wu Yi Company Limited, Sinohydro Corporation and China Roads and Bridges Corporation tender to build 1, 500 low-cost homes Nairobi’s Park Road. According to the tender document published by the ministry, the developer is expected to build 400 units from the commencement date…
South Africa and Rwanda are set to receive US $500m from the African Development Bank (AfDB) to help fund the upgrade and expansion their power grids, in line with the AfDB ‘High 5s’ programme which aims at tackling the power problem by improving access to electricity to Africa bringing with it industrialization and economic development. Amadou Hott, AfDB vice president…
South Africa state-owned power utility Eskom has successfully synchronized unit 2 of the Medupi Power Station, set to be the largest dry-cooled power station in the world once complete to the national power grid eight months ahead of schedule. Eskom’s group executive for group capital, Abram Masango confirmed the report and said, the unit was loaded to…
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…
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…
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…
With global liquidity conditions tightening, local currency bond markets have a more important role to play in financing African governments and companies. While Ghana and Nigeria are leading the way, other markets are still in the early stages. Poor transparency and liquidity, and a multiplicity of legal regimes are holding back foreign investment. The pressure…
Slower growth is translating into lower government spending on infrastructure. With an estimated funding deficit of $40 billion a year, private-sector solutions from Africa’s home-grown pension fund industry as well as international insurance firms could help plug the gap. Africa’s infrastructure needs are staggering. Of the region’s population of 1.2 billion people, more than half…
Sub-Saharan African economies are still recovering from the slowdown in 2015-16, but growth is slower than expected, according to the October 2018 issue of Africa’s Pulse, the bi-annual analysis of the state of African economies by the World Bank. The average growth rate in the region is estimated at 2.7 percent in 2018, which represents a…
Newly appointed Zimbabwean Finance Minister Mthuli Ncube would like to employ a “big bang” economic reform program to the battered economy where unemployment is running above 80 percent, but recognises politics will limit the speed for change. “My preference is a fiscal shock, but there is a what you call the political collar or the…