dabaa-egypt

IMF: Algeria Still Undergoes Major Difficulties Due to Lower Oil Prices

Algeria continues to face important challenges posed by lower oil prices, says the International Monetary Fund Executive Board after concluding Article IV consultation with the North African country. Economic growth in the nonhydrocarbon sector slowed to 2.9 percent in 2016, partly under the effects of spending cuts. Inflation increased from 4.8 percent in 2015 to […]

AfDB to invest $25 mln for renewables in sub-Sahara

The African Development Bank (AfDB) will invest up to $25 million in a private equity fund for renewable energy projects across Sub-Saharan Africa. According to the continental lender, the Board of Directors has approved an equity investment of up to $25 million in ARCH Africa Renewable Power Fund (ARPF), a $250 million private equity fund […]

Burkina Faso inks deal with Russia to build nuclear power plant to solve energy deficit

The Burkina Faso military government has signed an agreement with the Russian government for the construction of a nuclear power plant in the West African country, in a move that aims to “cover the energy needs of the population,” less than a quarter of which had access to electricity by late 2020, according to the […]