African Union secures US$11M grant from African Development Fund

AFRICA – The African Union Commission (AUC) will benefit from a US$11.48mn grant from the African Development Fund. The grant will help the AUC to strengthen its governance as well as contribute to the Institutional Capacity Building for the African Union Project which is designed to improve the AUC’s capacity to drive Agenda 2063. Agenda 2063 is the African Union’s…

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Durban to host Intra-African Trade Fair 2021 after Kigali pulls out

SOUTH AFRICA – The second Intra-African Trade Fair (IATF2021) will be taking place in Durban, the organizers have announced. This event is organized by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) secretariat and is expected to take place from November 15 until November 21. The continental trade…

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MasterCard foundation backs COVID-19 vaccine acquisition with US$1.3b

AFRICA – The Mastercard Foundation has announced that it will deploy US$1.3 billion over the next three years in partnership with the Africa Centres for Disease Control and Prevention (Africa CDC) to save the lives and livelihoods of millions of people in Africa and hasten the economic recovery of the continent. The Saving Lives and Livelihoods initiative will acquire vaccines for at least…

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AUDA-NEPAD and Ecobank Group partnership to launch financing component under the 100,000 MSMEs Initiative

AFRICA – The African Union Development Agency NEPAD (AUDA-NEPAD)) and the Ecobank Group, its strategic partner on the development of the 100,000 Micro, Small and Medium Enterprises (MSMEs) Initiative, are set to launch the financing component as from 27 May 2021.AUDA-NEPAD launched the 100,000 MSMEs Programme to accelerate African economic transformation, provide the needed skills, and build resilience against the economic…

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Ethiopian Airlines and African Union partner to implement trusted Travel Pass Test

ETHIOPIA – Ethiopian Airlines has announced partnership with the African Centres for Disease Control & Prevention (Africa CDC) for the implementation of the African Union Trusted Travel Pass to make continental travel easier and safer amidst the Covid -19 pandemic. The Trusted Travel pass program will ensure country regulations regarding Covid-19 travel requirements are met with minimal room for error…

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Kenya’s geothermal power producer GDC gets US$5m grant from AU for exploration

KENYA – State-owned Geothermal Development Corporation (GDC) has secured a US$5 million grant from the African Union (AU) for geothermal exploration of the Paka Geothermal Project in Baringo in Rift Valley, Kenya. The move comes after the signing of an agreement for the Geothermal Risk Mitigation Facility (), a risk mitigation facility that was set up in 2012 by the…

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World Bank readies Covid-19 vaccine funds for 30 African countries

AFRICA – The World Bank is preparing emergency financing to help about 30 African countries access Covid-19 vaccines, the global lender told Reuters, as the continent scrambles to secure doses and start immunising vulnerable groups. Only a few African governments have launched mass vaccination campaigns, whereas some countries in wealthier parts of the world have already administered millions of doses.…

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African Union to set up infrastructure fund for the continent

ETHIOPIA – The African Union is setting up a fund to finance the construction of much-needed roads, railways and power plants on the continent, the body’s infrastructure head said, turning to new sources of cash due to donor fatigue and higher debt levels. The African continent has an estimated annual infrastructure financing deficit of US$60 billion to $90 billion, the…

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MTN backs AU’s Covid-19 vaccination programme with US$25m donation.

AFRICA – MTN, Africa’s leading mobile network, has announced a donation of US$25 million to support the African Union’s Covid-19 vaccination programme. The donation will help secure up to seven million doses of the Covid-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC). “The devastating impact…

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Kenya receives US$14.5m grant from GMRF for geothermal project

KENYA – The government of Kenya has signed for a US$14.5 million grant from the Geothermal Risk Mitigation Fund (GRMF) for the implementation of the Baringo-Silali geothermal project in Rift Valley. The project is being implemented by the Geothermal Development Corporation (GDC) owned by the Government of Kenya. The US$14.5 million grant agreement was signed between the African Union, represented…

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