First Independent Mena Newspaper
After Kenya and Rwanda, the German car giant Volkswagen continues its expansion plan in East Africa. A Memorandum of Understanding (MoU) was signed on Monday by Thomas Schaefer, Head of the Volkswagen Sub-Saharan Africa Region, and the Commissioner of the Ethiopian Investment Commission (EIC), Abebe Abebayehu to deliver a joint vision for the development of […]
Italy’s Prime Minister Giuiseppe Conte cut the ribbon for the new ‘Africa Centre for Climate and Sustainable Development’ in Rome this Monday. This Centre will provide a fast-track, demand-driven mechanism for African countries to access grant resources that support policies, initiatives, and best practices on climate change, food security, access to water, clean energy, and […]
Saudi billionaire Mohammed al-Amoudi who has assets in Morocco and Ethiopia has been released from detention in the Saudi kingdom where he had been held since Nov. 2017 as part of the controversial crackdown on corruption. Ethiopian Prime Minister confirmed on Twitter Sunday the Ethiopian-born billionaire and businessman has been released. “We wish Mohammed al-Amoudi […]
The Ethiopian Ministry of Energy has issued tenders for the installation of six large-scale solar power plants. The plants will be developed under a public-private partnership framework and their construction is expected to cost around $795 million. These infrastructures are planned to be located in the states of Afar, Somali, Oromia and Tigray with the […]
In Mauritius, Small and Medium Enterprises (SMEs) need to develop energy efficiency systems to manage better their energy use, the minister of energy and public utilities Ivan Collendavelloo said. According to Collendavelloo, improving SMEs’ energy efficiency is a key way to increase their profitability and competitiveness. He stressed the need to implement modern energy production […]
Ghana will hand over its Electricity Company (ECG-Ghana) to a Private Sector consortium, state-run Daily Graphic newspaper reported. According to the Millennium Development Authority, the company that was responsible for handling the operations, investment and management of ECG, the deal was done under the Private Sector Participation of the Power Compact II Agreement of the […]
African-focused start-up Andela has raised $100m in a tour in United States, led by Al Gore’s Generation Investment Management. Andela, founded in 2013 to train African software developers and help them get hired by global companies, said it would use the most recent cash injection to expand the business and improve its internal data tools […]
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 […]
Uganda’s Xsabo Power Limited, which has constructed a new 24 MW solar power park in conjunction with the Uganda Electricity Transmission Company, said it plans to invest $200 million in the generation of solar power to boost the energy sector of the East African nation. According to Xsabo’s Managing Director and CEO, David Alobo, the […]
The International Monetary Fund (IMF) in a report released on Wednesday announced that the economy of Sub-Saharan countries should rise this year. In its World Economic Outlook Update, titled ‘A Weakening Global Expansion’, the Washington-based Fund indicated that economic growth in Sub-Saharan Africa should pick up in 2019, forecasting a 3.5 per cent growth for […]