EBRD greenlights $25m loan to Egypt-based UMC

The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]

Phala Phala scandal: Ramaphosa’s political future uncertain, emergency meeting of the ANC

The political future of the South African president has become uncertain as he has an impeachment case to answer and as the ruling party must nominate its candidates for the 2024 elections this December. The impeachment case surface after an independent parliamentary panel probed the scandal over the theft of thousands of US dollars stashed […]

Africa offers new solutions to avoid risks derailing net-zero energy transition — WEF report

Ahead of its annual meeting taking place in Davos in Switzerland, the World Economic Forum (WEF) says that short-term fixes to the energy crisis including subsidies and coal consumption could imperil the transition to net-zero, while proposing several solutions that have a special resonance in the context of some African countries, such as Senegal and […]