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Sudan govt scraps $6bn Red Sea port deal with UAE

Sudan has cancelled a $6 billion deal with the United Arab Emirates (UAE) to develop a Red Sea port, in an apparent protest against Abu Dhabi’s alleged support for the Rapid Support Forces (RSF), the paramilitary group engaged in the country’s ongoing bloody conflict. Sudan’s Finance Minister Gibril Ibrahim said on Sunday (3 November) his […]

IFC to invest $100m in Nairobi-listed Diamond Trust Bank to back SMEs hit by pandemic

International Finance Corporation (IFC) will invest 12.18 billion shillings ($100 million) in Nairobi-listed Diamond Trust Bank (DTB) to support small and medium enterprises (SMEs) impacted by Covid-19, Zawya reports, citing Kenyan Wall Street newspaper. The investment will be in senior debt under its Covid-19 emergency response working capital solutions scheme (WCS FIGE). IFC initiated the […]

Namibia’s dilemma: green energy champion or oil-producing nation

Namibia’s first ‘green hydrogen’ power plant — and also first one being built in Africa — which is expected to begin producing electricity in 2024, presents the southern African country with a dilemma: while Namibia is championing the clean energy, it also announced earlier this month that huge oil deposits had been discovered off its […]