DBB in $150 million deal to promote trade
The Development Bank of Belarus has signed an agreement to provide a US$150 million credit facility to the African Export-Import (Afrexim) Bank for the financing of the acquisition of goods from Belarus by Zambian and other African entities. The agreement, signed during the closing ceremony of the Belarus-Africa Forum last week, will result in the provision of credit facilities to be granted as a lump sum or a non-revolving credit line based on individual loan agreements.
Speaking at the signing ceremony, Afrexim Bank president Benedict Oramah said the facility is part of a US$800 million facility aimed at financing and promoting trade between African countries and Belarus.
Source: Zambia Daily Mail
Afreximbank to inject $ 1.6 billion for NEDP funding
The African Export-Import Bank (Afreximbank) is committed to providing about $ 1.6 billion (about CFAF 880 billion) for the implementation of the National Economic and Social Development Plan ( PNDES) from Burkina Faso.
The sectors concerned are cotton, the construction of industrial parks and special economic zones, the development of industrial parks, solar energy, the development of the railway between Burkina Faso and the countries of the subregion, and d Other important projects within the framework of the intra-African trade strategy.
Source: Africa Time
$ 80 million from the World Bank to diversify electricity supply
The World Bank has granted an additional credit of CFAF 48 billion (about $ 80 million) to Burkina Faso to intensify and maximize the impact of the Electricity Sector Support Project. According to a World Bank communiqué received in Ouagadougou, this second additional financing will allow to integrate low-cost solar resources into the energy mix of Burkina Faso and to strengthen the network.
It also plans to provide technical assistance to operators and players in the sector to strengthen their capacities, and provide transaction advice to support the development of Private Electricity Producer (IPP) projects by the private sector.
Japanese Company to Develop Special Zone in Bole-Lemi II Industrial Park
A Japanese company has signed a Memorandum of Understanding (MoU) with Ethiopian Investment Commission (EIC) to develop and manage Japanese Special Zone within the Bole-Lemi II Industrial Park. The Japanese company Tomonius will build the special zone which rests on 31 hectares of land. Signing the MoU, Investment Commissioner Fitsum Arega said the partnership is another testimony to the attraction of Ethiopia to Japanese investors.
The Commissioner noted that industrial parks will create jobs, increase export revenue and help share best practical to local investors. The company targets to accommodate 20 to 30 factories after the completion of the park. Bole-Lemi II Industrial Park is being developed on 186 hectares, in collaboration with the World Bank Group.
Source: Ethiopian News Agency
Agreement signed for $120m wind power project in Ghana
The project is expected to require an investment of approximately $120 million and to start operations early 2019. ENGIE and eleQtra, a developer of power and transportation projects in sub-Saharan Africa, signed a Joint Development Agreement that defines the terms and the schedule for the development and construction of the 50 MW Ada Wind power project in the Greater Accra Region.
The project is expected to require an investment of approximately $120 million and to start operations early 2019. ENGIE will enter as a 40% partner in the
Source: Ghana Web
SADC approve R40m grants to Madagascar, Seychelles
SADC has approved to give R20 million each to Madagascar and Seychelles to help the two island nations improve their participation in regional and international trade. The facility is a mechanism for financial and technical support given to SADC member states to help them implement commitments made under the regional Protocol on Trade and Economic Partnership Agreement (EPA) between the European Union and the SADC EPA group.
SADC has approved the funding for Madagascar to strengthen border agency capacity by developing and implementing guidelines for border agency coordination. As for Seychelles, part of the money will help the country build its capacity in the application of the Automated System for Customs Data system.
Source: The Southern Times
Hummingbird Resources increases stake in Yanfolila gold project to 80%
AIM-quoted Hummingbird Resources has acquired an additional 5% interest and a 1% royalty in the Yanfolila gold project in Mali. Hummingbird Resources paid US$2 million to increase its stake to 80% (previously 75%) ahead of its first gold pour from Yanfolila targeted by the end of 2017.
In addition the company has agreed to take up its option with La Petite Mine d’Or (LPMDO) to acquire its 5% interest in the project for US$1 million. Hummingbird Resources also negotiated the acquisition of the 1% royalty LPMDO had over the project for a further US$1 million.
Source: Mining Review
Luso-Chinese consortium hired to build railway in Mozambique
The consortium made up of Portuguese construction group Mota-Engil and the China National Complete Engineering Corporation has signed a contract with Thai Moçambique Logística to build a 500-kilometre railway in Mozambique, the group said in a market filing.
Tthe project, which is part of the logistics corridor that will connect the Moatize mining area to the port of Macuse in Zambezia province, will have a contractual duration of 44 months and cost US$1.389 billion. The start of construction work may be in 2018, once the client’s negotiations to finance the project are concluded.
Source: Macau Hub
South Sudan approves committee to oversee building of road linking to Ethiopia
South Sudan’s Council of Ministers has approved the use of 900,000 US dollars to facilitate the implementation of a joint border infrastructure development with Ethiopia. The budget allocation follows the agreement that was signed by the two East African nations to construct two roads through their common borders to link the two nations.
Ethiopia’s Metals and Engineering Corp will build one of the roads that links Ethiopia’s Gambella region to South Sudan’s former upper Nile state areas of Mathiang and Paloch. The other road will join the three areas of Buma, Pibor, and Bor of former Jonglei state, from Jebel-Raad in South Sudan to Dima in Ethiopia.
Source: Fana Broadcasting Corporate
Zim, South Sudan in oil deal
Zimbabwe and South Sudan are negotiating oil and other bilateral trade agreements as they deepen their political relations that started with support for the liberation movements in the youngest African country that was born in 2011, a top official confirmed.
“It’s true we are working on a number co-operation agreements with Zimbabwe. We need to develop our bilateral agreements and oil and other things will be part of that agreement,” Ambassador John Andruga Duku said. He said South Sudan wanted the agreement reached expeditiously. The South Sudanese were also impressed by the uni-visa scheme that Zimbabwe and Zambia have implemented.
Source: Sudan Commerce News
Tanzania signs $154 mln contract with Chinese firm to expand main port
Tanzania's government signed a $154 million contract with the state-run China Harbour Engineering Company (CHEC) to expand the main port in the commercial capital, Dar es Salaam. Tanzania is seeking financing for infrastructure projects as part of its plans to transform the country into a regional transport and trade hub.
Under the contract funded by a World Bank loan, CHEC, a subsidiary of the state-run China Communications Construction Co Ltd, will build a roll-on, roll-off (ro-ro) terminal and deepen and strengthen seven berths at Dar es Salaam port. Tanzania hopes expansion of the port will increase container throughput to 28 million tonnes a year by 2020 from around 20 million tonnes currently.
Source: Reuters Africa
Uganda to finalise oil exploration deal with Nigerian firm
Uganda is set to sign two oil production sharing agreements with a Nigerian firm, enabling the company to begin exploration work. The signing is expected on June 15. The firm, Oranto Petroleum International, was among a number of companies that bid in the country's first competitive oil exploration licensing round last year, with two other Nigerian firms and Australia's Armour Energy also getting through to final negotiations for the award of the PSAs.
The ministry of energy and mineral development said the deal with Oranto covers the Ngassa Shallow Play and Ngassa Deep Play exploration blocks located near the southern part of Lake Albert. Uganda discovered oil in 2006 in the Albertine rift basin along its border with the Democratic Republic of Congo.
Source: E&P Mag
Zambia Railways signs deal with Tazara to share the rail network
Zambia Railways Limited Chief executive officer Christopher Musonda says the railway firm has concluded an agreement with the Tanzania Zambia Railway Authority (TAZARA) which will see the two companies running their trains on each other’s network.
We have concluded the agreement with TAZARA at the level of head of state where we have been allowed as Zambia Railways to run a train into Dar es salaam and TAZARA can also run their train into Lusaka or Kitwe, he said. The two companies are currently working on operationalising the agreement to enable it take effect by the end of July this year.
Source: Lusaka Times
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