Nigeria, Morocco sign agreement on regional gas pipeline to reduce flaring

Ayobami AdedinniJune 11, 2018

Nigeria and the Kingdom of Morocco Monday signed a regional gas pipeline agreement, which would see to the former providing gas to countries in West Africa sub-region, Morocco and Europe thereby reduce the problem of gas flaring. The Nigeria Morocco Gas Pipeline, designed to be 5,660km long, would also encourage diversification of energy resources in […]

MTN, Vodacom express interest in Ethiopia’s liberalized economy

Adesola AfolabiJune 8, 2018

South Africa’s MTN Group and Vodacom Group have expressed interest in the Ethiopian market, following the announcement by the East African nation that it would partially liberalise its economy. Ethiopia said on Tuesday it would open its state-run telecoms monopoly and state-owned Ethiopian Airlines to private domestic and foreign investment, a major policy shift that […]

AfDB supports mortgage finance in Ghana with $15 million loan

Businessam StaffJune 7, 2018

In a bid to enhance its mortgage loan portfolio and help develop an effective affordable mortgage finance sector in Ghana, the African Development Bank (ADB) has approved a US $15-million senior loan to GHL Bank Plc. According to a statement from the development bank, the loan will enable Ghana’s lower-middle and middle-income earners to now […]

South Africa needs reform state-owned enterprises to boost growth

Businessam StaffJune 1, 2018

Cyril Ramaphosa

Cyril Ramaphosa, South African President said the country needs to take extraordinary measures to boost growth following years of stagnation in Africa’s most industrialized economy, and that his administration is taking immediate action to stamp out graft at state companies. The president has been spearheading a drive to attract $100 billion in new investment over […]

S.Africa to open bidding round for green energy contracts in November

Businessam StaffJune 1, 2018

South Africa’s next round of bids for renewable energy agreements with independent power producers will begin in November and could unlock investment worth up to 50 billion rand ($3.95 billion), the energy minister said on Friday. Renewable energy contracts worth 56 billion rand were signed in April, the first major investment deal under President Cyril […]

StanChart, AFC partner to boost trade finance in Africa, mull $350m sectoral expansion

Adesola AfolabiMay 31, 2018

Standard Chartered and Africa Finance Corporation (AFC), a multilateral development financial institution, have launched a funded risk participation programme to increase the availability of trade finance in Africa. The programme, a first between the two institutions, is expected to generate an estimated incremental trade volume in excess of $350 million over the three-year life of […]

Coca-cola plans $100m Kenya investment over five years

Chukwuemeka ObiomaMay 30, 2018

Coca-Cola Beverages Africa (CCBA), the continent’s largest soft drinks bottler, said on Wednesday it would invest $100 million in Kenya over the next five years to improve infrastructure and launch new products. Local managing director, Daryl Wilson said the company plans to introduce 50 new products in Kenya to add to the over 130 already […]

MoneyGram partners Ghana’s devt. bank on financial inclusion, to launch cash-to-account transfers

Businessam StaffMay 30, 2018

As part of efforts to provide customers with convenient and accessible technology-based financial services, MoneyGram has partnered Ghana’s Agricultural Development Bank (ADB) and the Ghana Interbank Payment and Settlement Systems (GhIPPS) to offer customers account deposit services for easier remittances. The cash to account direct product would make customers enjoy direct money transfer services from […]