First Independent Mena Newspaper
Gemcorp Holdings Ltd. (GHL), Africa Finance Corporation (AFC) and African Export-Import Bank (Afreximbank) have announced the financial close of Cabinda Oil Refinery in Angola with a US$335-million project financing facility. The announcement comes as the project spearheaded by Gemcorp, a UK-based asset management company, to build a refinery in Angola has been well behind schedule, […]
When African leaders meet with Russian President Vladimir Putin in St. Petersburg in late July for a summit, their discussions will likely be overshadowed by Russia’s pull-out of the Black Sea Grain Initiative that could badly damage Moscow’s relations with its African partners. Billed as strengthening cooperation in peace, security, and development, the Russia-Africa Summit […]
Burkina Faso has introduced new taxes including levies on telephone services in a bid to raise funds to be used in the fight against terrorism, the West African country’s news agency (AIB) announced. Aboubakar Nacanabo, the Minister of Economy announced the taxes on telephone services, re-subscription of private cable television channels and sale of land […]
The United States will provide an additional $380 million in humanitarian assistance for Africa, top diplomat Antony Blinken announced Thursday. “With this funding, the United States has provided more than $4 billion in humanitarian assistance this fiscal year to respond to the needs of refugees, internally displaced persons, and people affected by conflict and crisis […]
The planet’s record-breaking hot weather has caused severe drought in many places around the world and African nations risk extreme heat if climate targets are missed, with Uganda, South Sudan, and Congo being among the most vulnerable to soaring temperatures, a recent Oxford study has warned. According to the report, eight of the 10 countries […]
The Moroccan-Russian relations and the 2023 Russia-Africa Summit due in St. Petersburg July 27-29 were at the center of talks held Wednesday in Moscow between Moroccan ambassador to Russia Lotfi Bouchaara and deputy foreign minister Mikhail Bogdanov. The two parties also discussed bilateral political dialogue on regional issues of common concern, said the Russian foreign […]
The African Development Bank (AfDB) and Tunisia inked a deal Wednesday for a $87.1-million credit facility for the financing of a project to support the inclusive and sustainable development of the cereals industry (PADIFIC), local reports say. Samir Saied, Tunisia’s Minister of Economy and Planning and AfDB’s Deputy Director General for North Africa Malinne Blomberg […]
Benin has secured an 80 million euros loan facility from the African Development Bank (AfDB) to improve and expand Cotonou harbor, one of the main maritime access points for landlocked countries in West Africa. The loan is split into two: €55 million from the African Development Bank and €25 million from Africa Growing Together Fund, […]
The Democratic Republic of Congo (DRC) and the United Arab Emirates (UAE) have signed a mining deal worth $1.9 billion for which the Gulf country will develop several mining fields. The deal was signed Monday with state miner “Société Aurifère du Kivu et du Maniema”, “Zawya” reports, citing a statement from the Congo’s President Felix […]
The International Monetary Fund (IMF) Managing Director Kristalina Georgieva hailed Wednesday the progress made in restoring debt sustainability globally including Chad, at a meeting of the G20 Finance Ministers and Central Bank Governors in India, “Zawya reports”. The central African country in November 2022 reached an agreement with its creditors, notably Swiss commodities trader Glencore, […]