AfDB approves US$88.2M for transport facilitation in Liberia and Sierra Leone

WEST AFRICA –African Development Bank Group has approved US$88.2 million in financing for the third phase of the Road Development and Transport Facilitation Programme for the Mano River Union. The Mano River Union is an international association initially established between Liberia and Sierra Leone in 1973 under the Mano River Declaration. The Mano River begins in the Guinea highlands and…

Read More

DP World and DRC strike deal on 450,000 TEU Banana Port

DRC – Emirati multinational logistics company DP World and the government of the Democratic Republic of the Congo (DRC) have signed a collaboration agreement for the development of the deep-sea port at Banana. The agreement was signed in Kinshasa by Cherubin Okende Senga, Minister of Transport and Communication, Adele Kahinda Mayima, Minister of State for Portfolio, Nicolas Kazadi, Minister of Finance,…

Read More

Afreximbank approves US$70m to finance Beitbridge expansion in Zimbabwe

ZIMBABWE – Pan-African multilateral trade finance institution African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe to boost intra-Africa trade. The Beitbridge border post between Zimbabwe and South Africa is the busiest border crossing in Southern Africa, with an average of 25,000 people and 500 trucks crossing the…

Read More

Uganda to build 2,700km-long standard gauge railway

UGANDA – The government of Uganda will build its standard gauge railway even if Kenya fails to extend its line to the border town of Malaba, its officials have said. Construction of the long-delayed SGR will now start in the 2022/2023 fiscal year even as the connection with Kenya remains a sticking point. The country’s 271-kilometre-long SGR was part of…

Read More

AIIM raises US$80m to finance sustainable infrastructure in Sub–Saharan Africa

AFRICA – The African Infrastructure Investment Managers (AIIM) has just boosted its African Infrastructure Investment Fund 3 (AIIF3) with US$80 million to finance sustainable development projects in Africa south of the Sahara. The fund already has numerous assets in several sectors, including green electricity. The US$80 million recently raised by African Infrastructure Investment Managers (AIIM) is intended to fund its…

Read More

World Bank approves US$100m for Maputo urban transformation project

MOZAMBIQUE – The World Bank has approved a US$100 million grant from the International Development Association (IDA) in support of Maputo Urban Transformation Project that will finance critical urban infrastructure investments in the city and support the implementation of municipal reforms. “This investment will ultimately contribute to harness the role of Maputo as the country’s economic powerhouse by investing in…

Read More

Nigeria to invest US$519m in power sector to improve generation capacity and distribution efficiency

 NIGERIA – The Federal Government of Nigeria has announced plans to invest N198.28bn (about US$519.69 million) on various capital projects in the power sector in different parts of the country in 2021. The projects will improve the country’s power generation capacity and distribution efficiency which has for a long time remained inefficient, greatly hampering efforts to increase energy access in…

Read More

Lydec to allocate US$36m to water management projects in Morocco

MOROCCO – Lydec, a French utility company which responsible for provision of public utilities in the greater Casablanca area has launched a new US$36 million wastewater and rainwater treatment system. The project will involve the construction of water treatment facilities around the National Road No. 1 (RN1) and in the areas of Errahma and Hay Hassani at a cost of…

Read More

Djibouti launches port regeneration project

DJIBOUTI – The government of Djibouti through the Djibouti Ports and Free Zone Authority (DPFZA) has launched the Port of Djibouti regeneration project to turn the Historical Port of Djibouti into an international business district dubbed the East Africa International Special Business Zone. In a statement, the DPFZA noted that the regeneration project will take place in six phases. The first…

Read More

American energy company GE wins contract to improve Benin’s electricity infrastructure

BENIN – GE, an American multinational conglomerate popular for its energy business, has won a US$47 million contract to improve Benin’s energy infrastructure, a key step towards improving access to electricity in the country. The US$47 million electricity contract awarded to GE Renewable Energy’s Grid Solutions business will involve the installation of four substations and seven extensions so as to…

Read More