Huawei to invest USD1-billion into digitalisation
Chinese ICT solutions provider Huawei has reaffirmed their belief that African telecom operators need to focus on Digital Operations Transformation saying this should be geared towards creating long term strategic value both for the teleco and its customers. The company also revealed that it plans to invest USD1-billion in the next three years, to develop digitisation solutions which according to them will build business and technical capabilities. Huawei has already seen the benefits in R&D, supply chain and delivery.
Source: IT News Africa
Gov’t invests P2.4-billion in North West power project
Government through Botswana Power Corporation (BPC) is investing about P2.4-billion on infrastructure to connect the northwest part of the country to the national electricity grid. The corporation’s chief executive officer Dr. Stefan Schwarzfischer said the construction of the North West Transmission Grid would play an economic role in exporting power from Botswana to the SADC region through Southern African Power Pool market. The project will be implemented in two phases and creating employment for 2,100 people in each phase during the period of construction with about 81% being locals.
Source: Mmegi Online
Botswana grants Globalstar’s first international terrestrial spectrum approval
Globalstar, Inc. announced that the Botswana Communications Regulator Authority (BOCRA) has granted terrestrial authority to Globalstar’s Botswana subsidiary to provide terrestrial mobile broadband services over 16.5 MHz of S-band spectrum at 2483.5 to 2500 MHz. Globalstar filed its application for terrestrial authority in Botswana in early 2017 and appreciates BOCRA's accelerated review. With this approval, Botswana becomes the first country outside of the US to approve Globalstar’s terrestrial S-band authority and the first country to approve the authority over 16.5 MHz across Globalstar’s licensed 2.4 GHz holdings.
Source: Global Newswire
Cape Verde secures USD582-million credit line
Cape Verde has agreed with the African Export Import Bank (Afreximbank) to open a credit line worth some USD582-million to offer financing to Cape Verdean companies and investors, said Prime Minister Ulisses Correia e Silva. The prime minister said that this financial instrument creates the necessary conditions for private investment, expanding access to credit that the domestic market cannot provide. Correia e Silva added that, along with this credit line, another credit line is preparing to be launched worth CVE5-billion (USD53-million) for the financing of small and medium-sized enterprises.
Source: Macau Hub
Cape Verde and China negotiate air transport agreement
Cape Verde and China are negotiating an air transport agreement which should allow China’s Capital Airlines and Cape Verdean airline TACV to fly between the two countries, the minister of Foreign Affairs said in Beijing. Luís Filipe Tavares, a Cape Verdean minister said the negotiations on the air transport agreement should be completed by mid-2018. Tavares also discussed with the Chinese authorities new prospects for cooperation in the area of defence, land planning, port security and the maritime economy.
Source: Macau Hub
Ghana opens talks with Exxon on deepwater drilling contract
Ghana has opened talks with Exxon Mobil Corp to allow the U.S. oil firm to undertake deepwater exploration off its coast, the deputy energy minister said. Adam said the government had opted for direct negotiation with Exxon Mobil without open competitive tendering due to the peculiar nature of the field, and because Ghana has yet to pass regulations to back open competitive tendering. A new petroleum law requires that oil contracts should be awarded through open and competitive tender. It also allows direct negotiation when necessary and justifiable.
Ghana-Iran in permanent joint commission for cooperation
The sixth session of Ghana-Iran Permanent Joint Commission for Cooperation (PJCC) is underway in Accra. The two-day meeting seeks to enhance the levels of partnership and cooperation to incorporate new thematic areas of policy concerns and initiatives between the two countries. The thematic areas for cooperation include agriculture, transportation and housing cooperation. Others are political and strategic consultation, trade, investment, banking and financial cooperation. The rest are energy, mines, industry, scientific, health, cultural, defence, security and legal.
Source: Modern Ghana
Ghana to supply Burkina Faso 100MW electricity daily
Minister for Energy, Boakye Agyarko has hinted that Ghana will supply 100 megawatts of power daily to Burkina Faso, and works on transmission lines from Bolgatanga to Burkina Faso for the supply has already begun. He explained that Ghana supplying power to Burkina Faso is not a new thing. “We have been supplying power to Burkina Faso in a smaller quantity of 0.5 megawatts since 2003, but it moved to 9.2 megawatts in 2013, but it has now got to the point that Burkina Faso have embarked on a development agenda and need more power, and Ghana has agreed to supply power to a tune of 100 megawatts.”
Source: My Joy Online
Cytonn to build Sh13-billion luxury homes in Kiambu
Cytonn Investments plans to transform a 100-acre Kiambu coffee plantation into a Sh13-billion residential-cum-commercial development hosting 6,500 people and a five-star hotel. Through a special purpose vehicle jointly formed with local and foreign investors, Cytonn Investment Partners Five LLP will also build a five-star waterfront hotel comprising 34 luxury rooms, 36 cottages and four water cottages on 1.97 acres reserved for the hotel development next to an eight-acre dam. Some sections have also been reserved for an amusement park and recreational facilities.
Source: Business Daily
SA pension fund raises KenGen stake
South Africa’s pension fund, Public Investment Corporation (PIC), has raised its stake in electricity generator KenGen to 10% in aggressive share purchases that started early in the year. The investment, worth more than Sh4-billion at current market prices, is part of PIC’s move to seek growth and geographical diversification outside South Africa. PIC’s holding of KenGen stock comprises of shares bought in the open market and 351.2 million shares it was allotted in the company and which were left on the table by investors who sat out the rights issue floated last year.
Source: Business Daily
GE partners with Azito to upgrade gas turbines in Ivory Coast
GE has signed an agreement with Azito Energie SA to upgrade two gas turbines at the company’s combined-cycle power plant in Ivory Coast. The agreement focuses on improving performance and providing insights into plant and turbine operations. Under the partnership programme, GE’s hardware upgrade and operations optimisation digital solutions will help to increase power output by up to 30MW. GE will also deploy its technical insights to Azito to increase efficiency and improve operations at the power plant. The project, locating in the Yopougon district of Ivory Coast, has marked GE’s first GT13E2 MXL2 gas turbine upgrade order in Sub-Saharan Africa.
Source: African Review
Mauritius launches USD191-million renewable energy project
The Republic of Mauritius launched a USD191-million renewable energy project supported by the Green Climate Fund (GCF) and the United Nations Development Programme (UNDP). The project aims to reduce fossil fuel imports and accelerate the nation’s shift to a low-carbon economy over a period of 20 years. The eight year project will support national goals to increase renewable energy to 35% of the energy mix by 2025 and reduce carbon dioxide output by 4.3 million tonnes. It is a key step in achieving the country’s Nationally Determined Contributions to the Paris Agreement and supporting continued economic growth.
Source: IT News Africa
Companies from China, UK and South Africa sign agreement to invest in Mozambique
Ncondezi Energy Ltd has signed a non-binding offer with China Machinery Engineering Corp. and General Electric South Africa (PTY) Ltd for a project in Mozambique at a meeting held in Beijing, the company said in a statement issued in London. The non-binding offer lays the groundwork for negotiations for the development, construction and operation of the project of a coal-fired thermal power plant with a capacity of 300 megawatts and an open pit coal mine in Mozambique’s Tete province. A final agreement would mean that the China Machinery Engineering Corp. and General Electric South Africa acquire approximately 60% of the project, giving the two companies the responsibility of developing and managing it.
Source: Macau Hub
Mozambique authorises Capitol Resources to develop mining activities in Chiúta, Tete
The Mozambican government approved a resolution authorising Capitol Resources, a subsidiary of Australia’s Baobab, to carry out mining activities in the district of Chiúta, central Tete province. The resolution was approved during the 40th ordinary session of the Council of Ministers, held in Maputo, at the end of which spokesman Armindo Ngunga explained that the resolution assigned rights to the company to carry out activities in the region including iron production and steel processing. “The contract is valid for 25 years, subject to renewal and constant conditions according to the government’s plan,” he said, adding that the Capitol Resources project includes the construction of a steel plant and a thermoelectric plant.
Source: Club of Mozambique
Dangote sells noodle plants to rival for N3.75-billion
A unit of Dangote Flour Mills, Dangote Noodles Limited, has sold two production lines to rival pasta maker, De United Foods Industries, for N3.75-billion (USD12.26-million), the company said. De United said it had signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It will also buy stock worth N383.94-million, according to a report by Reuters. The deal comes after Dangote sold a small stake in its cement business to foreign investors in a one-off stock market deal valued at N27-billion.
GE to invest USD2.7-billion on infrastructure and maintenance
The Minister of Transportation, Mr Rotimi Amaechi said General Electric (GE) was investing USD2.7-billion on infrastructure, operation and maintenance of the entire narrow gauge lines concession. Amaechi made this known in an interview with the News Agency of Nigeria (NAN) while giving account of his stewardship in the last two years in Lagos. According to him, GE is investing USD700-million dollars on infrastructure, with two billion on operation and maintenance.
Source: The Guardian
USD50-million invested in renewable energy
Rwanda’s energy rollout efforts received a boost following the operationalisation of USD50-million to catalyse private sector’s investment in off-grid energy solutions. The fund, managed by the World Bank and rolled out through Development Bank of Rwanda, is expected to facilitate the electrification of about 445,000 households in the next seven years.
This, when achieved, will increase electricity access in the country by about 19%. The current energy access rate stands at about 40%.
Source: New Times
Asawir Company signs MoU with its counterpart US Baker in gas field
Asawir Company and the US Baker Company signed a Memorandum of Understanding (MoU) to cooperate in the implementation of gas and associated gas projects as well as cooperation in the field of spare parts and drilling fluids. The Minister of Oil and Gas called for investment in the oil and gas field, especially in the Red Sea region, expressing his keenness to provide social services to achieve social peace and stability of the population. The company expressed readiness to invest in the oil, gas and oil services fields, pointing out that the lifting of sanctions would encourage the entry of US companies to invest in oil sector.
Source: Sudan News Agency
Sudan, China renew keenness to cement commercial ties
Sudan and China renewed resolve to consolidate trade relations next year to be an example for mutual cooperation. This came when Minister of Trade, Hatim Al-Sir met with Ambassador of China to Khartoum, Li Lyan, and discussed economic and trade dossiers between the two countries and implementation of previous deals. The Chinese Ambassador expressed China welcome to revocation of sanctions against Sudan, indicating that it would open door for cementing economic, financial and trade relations between the two countries.
Source: Sudan Commerce News
AfDB commits USD250-million to Bujagali power dam
For the next five years, the African Development Bank will focus on how to work with Uganda to bring down the power tariff from Bujagali hydropower dam. Through its country strategy paper 2017-2021, which it released in October, the African Development Bank said it will provide up to USD250-million in a 15-year debt or a partial credit guarantee to Uganda in order to support Bujagali Electricity Limited raise USD250-million of new long-term debt from institutional investors. The Bujagali power dam is a 250MW project that accounts for nearly a third of the country’s total energy output. Uganda has been engaged in discussions with Bujagali’s lenders for more than a year on how to restructure the loan.
Source: The Observer
UK seeks stronger trade relations with Uganda
The United Kingdom is looking for investment and trade opportunities in Uganda to augment the already existing ties between the two countries. The UK Secretary of State for International Trade and UK Business Associates, Liam Fox, led a high-level delegation comprising of cabinet ministers to Uganda and held a meeting with top managers of private and public companies to discuss investment opportunities in the country. In a meeting hosted by Financial Sector Deepening Uganda (FSD-U) at Serena Hotel, Fox said the UK has a GBP50-billion (sh210.75-trillion) fund to facilitate investments but the UK can only utilise 20% internally, thus the move to explore investment projects in African countries including Uganda to invest the excess funds.
Source: New Vision
Four-year program launched to assist 60,000 Uganda coffee farmers
Berlin, Germany-based Benckiser Stiftung Zukunft is funding a four-year technical assistance project in Uganda, with the goal of achieving 50% increase in coffee yields among approximately 60,000 farming households. For a period of 18 to 24 months, farmers will receive training in the field that is intended to be practical and participatory, covering such strategies as pruning and rejuvenation, fertilisation optimisation in relation to soil conditions, integrated pest management, and basic business and farm management training.
Source: Daily Coffee News
Bank of Uganda and Bank of Sudan to strengthen relations
Bank of Uganda and the Central Bank of Sudan have agreed to explore all avenues to consolidate and expand trade and investment between Uganda and Sudan. Bank of Uganda Deputy Governor, Dr Louis Kasekende, and the Governor of the Central Bank of Sudan Hazim Abdelgadir, agreed to sign a Memorandum of Understanding to guide the two central banks in the various areas of cooperation such as payments systems, correspondent banking, capacity building and other avenues of facilitation of trade and investment between the two countries.
Source: New Vision
Uganda and Tanzania to revive Port Bell-Mwanza marine route
The revival of a multi-modal transport route from Dar es Salaam port to Port Bell in Kampala through the use of trains and wagon ferry services was one of the behind the scenes discussions during Tanzania's president Dr John Pombe Magufuli's three-day visit to Uganda. The meeting between the two presidents discussed modalities of implementing the Memorandum of Understanding on joint cooperation for improvement of ports, Lake Victoria inland waterways and railway transport services. Tanzania and Uganda signed the joint cooperation agreement in mid-July this year with the two ministers agreeing Uganda to use of Dar es Salaam port as an alternative route to the sea through the central corridor.
Source: The Observer
AfDB approves USD25-million loan to Zambia National Building Society
The Board of Directors of the African Development Bank Group (AfDB) has approved a USD25-million Loan to Zambia National Building Society (ZNBS). The senior loan will support ZNBS in building institutional capacity and financing affordable housing in Zambia. It will assist in reducing fiscal pressures on the Zambian government and enable ZNBS to mobilise funding from other sources, including Zambia’s capital markets.
Source: Lusaka Times
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