First Independent Mena Newspaper
The African Development Bank (AfDB) has approved a loan of $500 million for Africa’s electrification through renewable energy. The Energy Inclusion Facility (EIF) will distribute the loan among major project promoters and off-grid suppliers across the continent. According to the pan-African financial institution, $100 million will go to off-grid providers to enable them expand their […]
A fierce competition takes place in African skies to dominate flights to the Americas pitting Royal Air Maroc against unrelenting competitors such as the Ethiopian airlines, South African Airlines, Kenyan airways and Egypt air. Every month a new connections is announced by African airlines linking the continent to the US, Canada or Latin America, air […]
The first China-Africa economic and trade expo kicks-off this Thursday in the central Chinese city of Changsha with the participation of over 1,400 guests and traders from 52 African countries. Launched under the framework of the Forum on China-Africa Cooperation, the expo will establish a new mechanism for economic and trade cooperation between China and […]
UK-based Azuri Technologies said it has raised $26 million to expand its individual solar kit business to cater to African households. According to the company, Marubeni Corporation – a well-known Japanese conglomerate, which invests in renewable energy projects across Africa – contributed a significant amount of investment. IP group, a British technology-focused investment fund, and […]
Head of Casablanca Finance city (CFC) saïd Ibrahimi said that the number of companies that have acquired CFC status rose to 184 and is set to increase in light of the advantages offered by the Moroccan financial center to companies that want to expand in Africa. He said that CFC tax regime was not the […]
The European Union (EU) announced Tuesday a humanitarian aid of more than €152 million for the African region of the Sahel. “While Sahel countries continue to suffer from armed conflict, climate change and a food and nutrition crisis, the EU is providing €152.05 million to help people in need in the region”, said the European […]
CDC Group, the UK government’s foreign investment arm, has announced it will invest $300 million in power grid development in Africa over the next five years. This contribution will be made through Gridworks, a company that will be launched shortly to this end. The company will make investments in African transmission networks, but also […]
The US Agency for International Development has announced $500,000 in funding and $100,000 in technical assistance to the Women’s World Banking Asset Management (WAM) blended-finance fund. Joining USAID, the Overseas Private Investment Corporation (OPIC) announced its intent to provide $25 million in financing to the fund. The financing will help mobilize commercial investment to […]
As the United Kingdom braces for a hard Brexit without a deal with the European Union, the British government is looking for business opportunities outside the European bloc, focusing on building stronger economic cooperation ties with its traditional partners in America, Asia and Africa in addition to those of the Commonwealth. It is in this […]
The African Development Bank hosted earlier this week a symposium to mark the bank’s Climate Change and Green Growth Day. The symposium, the first of its kind, was held under the theme: “Moving from emergency relief to building resilience.” It came in the wake of two devastating tropical cyclones, Idai and Kenneth, which ripped through […]