How Egypt plans to deepen financial markets with CONIA

The Egyptian monetary authority has announced steps taken to reposition its financial markets through the introduction of CONIA, the Cairo Overnight Interbank Average benchmark. Rami Abulnaga, sub-governor for markets and external relations at the Central Bank of Egypt, welcomed the introduction of CONIA as “an important milestone to support money market reform that is consistent […]

AfDB approves €235.8m loan for Kenya’s dam

The African Development Bank (AfDB) has approved two loans worth €235.763 million to the Kenyan government for the construction of a multi-purpose dam (Thwake dam), that will store water, produce electricity and enable irrigation. The 80.5m high multi-purpose dam which is to be constructed on Thwake River in southern Kenya, will have a storage capacity […]