First Independent Mena Newspaper
The African Development Bank (AfDB) has announced a contribution of $267 million to finance the implementation of the Priority Investment Program (PIP) of the G5 Sahel. The Priority Investment Program is a 14.8-billion-dollar program addressing development needs in governance, security, economic resilience, and infrastructure in the Sahel region. The program aims to improve the living […]
Travel and tourism remained one of the key growth drivers of Africa’s economy, contributing 8.5% of the GDP in 2018, equivalent to $194.2 billion. According to the 2019 Jumia Hospitality Report Africa, this growth record placed the continent as the second-fastest growing tourism region in the world, with a growth rate of 5.6% after Asia […]
The Norwegian government will provide Gabon with $150 million to fight deforestation, according to the Central African Forest Initiative (CAFI). Gabon which is almost 90 percent covered by forest will use the funds, to be disbursed over 10 years, to “both reducing its greenhouse gas emissions from deforestation and degradation, and absorption of carbon dioxide […]
The European Union has earmarked €80 million to improve the resilience of several African countries to extreme weather hazards, including floods and droughts. Angola, Botswana, Ghana, Tanzania, Zambia are among the recipients of the EU financial support. The program is being implemented in Africa by four partners namely the African Union Commission (AUC), […]
The Angolan government plans to install about 30,000 solar photovoltaic systems in rural areas to produce 600 MW of electricity in the Central African nation. According to Angolan Minister of Energy and Water, João Baptista Borges, the government was considering increasing the rate of access to electricity, especially in rural areas. Currently, less than 40% […]
In Côte d’Ivoire, Banque Atlantique, a subsidiary of Morocco’s Banque Centrale Populaire Group, has provided a loan of 32.5 billion CFA francs to the Yamoussoukro road infrastructure rehabilitation project. The loan was attributed to FPO Africa, one of the leading local construction companies in Côte d’Ivoire as part of a public-private partnership (PPP) with the […]
Casablanca Finance City (CFC) and Barcelona Center Financer Europeu (BCFE) have sealed a cooperation agreement to enhance and tap investment opportunities between Spain, Morocco and Africa The deal lays the foundation for a sustainable cooperation that aims to promote investment opportunities between Spain, Morocco, Africa’s gateway. The Moroccan and Spanish financial centers pledge to set […]
The First Kofi Annan Peace and Security Forum was held in Accra, Ghana, this week with the participation of scores of high level delegates, including seven former African Heads of State, and Mohamed Ibn Chambas, Special Representative of the UN Secretary-General and Head of the UN Office for West Africa and Sahel (UNOWAS). The forum, […]
Morocco will donate $3.3 million to the priority investment program of the G5 Sahel joint force tasked with fighting terrorists and insurgents in West Africa. The announcement was made at a G5 meeting in Nouakchott by director for Maghreb and African Union at Morocco’s foreign ministry Abderrazak Laassel who underscored Morocco’s firm commitment to regional […]
The Ethiopian government has rejected outright Egypt’s proposal on the filling and operating of the $4 billion hydropower dam, the Great Ethiopian Renaissance Dam (GERD), being constructed by the Horn of Africa country on the Nile. Addressing a press conference in Ethiopia’s capital Addis Ababa Wednesday, Sileshi Bekele, minister for Water, Irrigation and Electricity described […]