R/€ = 15.92 Change: 0.15
R/$ = 13.46 Change: 0.25
Au 1243.94 $/oz Change: 6.10
Pt 886.52 $/oz Change: 9.02


eThala Biomass-To-Power Project

     12th December 2017 eThala Management Services has received a Project Preparation Grant (PPG) from the Sustainable Energy Fund for Africa (SEFA) administrated by the African Development Bank to undertake project preparation/development activities for the proposed eThala Biomass-to-Power Project to approach... 

AfDB grants loan support to two African renewable energy projects

By: Dylan Slater     11th December 2017 The African Development Bank (AfDB) has approved $324-million in loan support to two renewable energy projects in Morocco and Côte d’Ivoire that are expected to significantly increase power supplies and boost economic growth in those countries.  

Thwake multipurpose water development programme, Kenya

By: Sheila Barradas     1st December 2017 The Makueni and Kitui county governments have respectively signed a contract to build the Thwake multipurpose dam.  

AfDB approves $160m loan for second Nairobi runway

By: Reuters     29th November 2017 The African Development Bank (AfDB) has approved a $160-million loan to Kenya for building a second runway at the main airport in the capital Nairobi, the bank said on Wednesday. The Jomo Kenyatta International Airport (JKIA) has a single runway and plans for a second one were first announced in... 

Vale, partner Mitsui ink $2.7bn Nacala coal corridor funding

By: Henry Lazenby     28th November 2017 Brazil’s largest diversified miner Vale has announced that it, together with its Japanese partner Mitsui & Co, has signed a $2.73-billion funding deal to finance the Nacala Logistics Corridor (NLC), that will connect the Mozambique-based Moatize coal mine, to the Nacala port. Vale said in a press... 

Renewable energy, critical to meeting Africa’s energy needs by 2040

     27th November 2017 Africa, filled with many developing nations, provides the ideal opportunity for the application of renewable energy solutions and technologies.  About 635 million Africans still live without electricity and demand for energy is rising rapidly.   Given the lack of power supply, especially in the... 

Financing secured for solar projects in Egypt

By: Nadine James     17th November 2017 European photovoltaic (PV) specialist Scatec Solar announced that it had secured financing of $335-million to fund its portion of the development of six 400 MW utility scale PV power plants which will be located in the Benban solar park in the City of Aswan in Egypt. The company secured funding... 

Jomo Kenyatta International Airport runway project, Kenya

By: Sheila Barradas     17th November 2017 Kenya Airports Authority is planning to build a second runway at the Jomo Kenyatta International Airport. 

Second runway to be built at Kenya’s Jomo Kenyatta International Airport

By: John Muchira     10th November 2017 A second runway is to be built at Kenya's Jomo Kenyatta International Airport (JKIA) in an effort to transform the airport into a world-class facility. The new runway, to be built at a cost of $351.8-million, is designed to ease pressure on the exiting runway and to nearly double the aircraft... 

South Sudan seeks outside help as it aims to power up

By: John Muchira     10th November 2017 South Sudan is pleading for foreign funding and investment in the energy sector to light the country which remains in the dark. Despite being endowed with vast oil and gas reserves and massive potential to generate electricity from hydro, solar and wind sources, the country entirely depends on... 

AfDB approves its second climate change action plan

By: Anine Kilian     9th November 2017 The African Development Bank (AfDB) has approved the ‘Africa Thriving and Resilient: The Bank Group’s Second Climate Change Action Plan, 2016-2020’ (CCAP2).  “The approval of this document is propitious as it echoes the ongoing discussions at Conference of the Parties (COP) 23 in Bonn, Germany,... 

Fin Min’s mid-term budget speech boosts investor confidence – Govt

By: African News Agency      26th October 2017 A leading United States investor has announced plans to invest over $1-billion (R14.1-billion) in South Africa over the next few months. This follows after Finance Minister Malusi Gigaba tabled what was according to a statement, a difficult medium-term budget in Parliament on Wednesday. According... 

New AfDB, OpenOil report shows gaps in extractive resources management

By: Natasha Odendaal     20th October 2017 The African Development Bank (AfDB) and Berlin-based financial analysis firm OpenOil are hoping to trigger a new debate within Africa’s oil and gas and mining sectors with the publication of a jointly produced report on how African governments use financial models to manage projects. In an effort... 

Call for collaborative action to support sustainable tourism

By: Dylan Slater     20th October 2017 In recognition of Africa’s tourism and travel industry’s ability to serve as an engine of progress for socioeconomic transformation, the African Development Bank (AfDB) calls for collaborative actions from all stakeholders for the development of sustainable tourism in Africa.  

AfDB sells first $39m Industrialise Africa theme bond

By: Schalk Burger     29th September 2017 Development finance institution, the African Development Bank (AfDB), has sold an Industrialise Africa theme bond to Fukoku Mutual Life Insurance Company for $39.21-million. The bond, which will mature at the end of September 2027, will be used to support private sector industrial development and... 

Ghana officials showcase progress on international airport project

By: David Oliveira     1st September 2017 The construction of a new terminal at Ghana’s Kotoka International Airport (KIA), in Accra, is expected to transport five-million passengers a year once completed in April next year. The project, funded by the African Development Bank (AfDB), with a $120-million facility, will not only improve... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) region is key to diversifying the regional economy away from its current reliance on the export of raw commodities and to supporting economic growth and employment creation. There is broad... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) is key to diversifying the regional economy away from its current reliance on export of raw commodities and to supporting economic growth and employment creation. There is broad acceptance that SADC... 

Morocco receives funding for hybrid renewable-energy plants

By: Dylan Slater     25th August 2017 A loan to the value of $25-million has been granted to Morocco for investment in renewable-energy projects to help the country generate solar power through an innovative hybrid concentrated solar power (CSP) and photovoltaic (PV) solution.  

SADC in need of localised development

     18th August 2017 Localisation in infrastructure development in the Southern African Development Community (SADC) region is critical to industrialisation, says the Department of Trade and Industry (DTI).  

African conference strives to boost bioenergy industries

     18th August 2017 Global conference organiser Centre for Management Technology (CMT) notes that its Biomass Trade & Bioenergy Africa conference will be held at the Radisson Blu Hotel in Sandton on September 28 and 29. CMT hopes that the conference will further development of the African biomass and bioenergy... 

Localisation in infrastructure development in SADC critical for industrialisation

By: Anine Kilian     1st August 2017 Localisation in infrastructure development across the Southern African Development Community (SADC) region is critical for industrialisation, according to African Integration and Industry chief director Nigel Gwynne-Evans, who spoke at the SADC Industrialisation Week in Johannesburg on Tuesday.... 

Africa urged to focus on attracting more FDI

By: Anine Kilian     28th July 2017 Improving the quality of life for people in Africa is a key goal of the African Development Bank and this will require the continent to attract more foreign direct investment (FDI). Addressing delegates at the second Gauteng Infrastructure Investment Conference, in Midrand, on Friday, University... 

AfDB in $2bn project finance pact

By: Mia Breytenbach     28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... 

Nepad advocates centralised bankable project information hub

By: Natasha Odendaal     25th July 2017 The New Partnership for Africa's Development (Nepad) Infrastructure Project Preparation Facility (IPPF) is suggesting that a one-stop shop initiative – comprising a project hub and a help desk – be established to promote bankable projects in Africa, with the aim of increasing the accessibility of... 

May unveils British initiatives aimed at reducing Africa’s reliance on aid

By: Keith Campbell     21st July 2017 British Prime Minister Theresa May used the recent G20 Summit in Hamburg, Germany, to announce a series of new British initiatives intended to reduce the reliance of African countries on aid and increase their long-term stability and prosperity. This was in line with a theme for the summit... 

Africa’s energy funding costs, capital access, risk profile under the spotlight

By: Natasha Odendaal     18th July 2017 Aligning power generation and distribution projects with the host country and government’s mandate is a step forward in attracting more internal and external financing to develop comprehensive energy and power infrastructure. This is one of the messages emerging from this year’s PowerGen Africa... 

Nepad Special Fund contributors call for increased contribution for Africa’s infrastructure development

By: Creamer Media Reporter      10th July 2017 While contributions to the New Partnership for Africa’s Development’s (Nepad’s) Infrastructure Project Preparation Facility (IPPF) Special Fund reached some $90.5-million during the first half of this year, donor contributors have urged other countries to contribute to the fund to support... 

Nigerian university expansion project receives AfDB loan

By: David Oliveira     7th July 2017 The African Development Bank (AfDB) last month signed agreements for a corporate loan to finance the expansion of Afe Babalola University (ABUAD) in Ado Ekiti, Nigeria. The expansion project consists of the construction of new facilities – including a 400-bed teaching hospital, an industrial... 

AfDB approves $15m equity investment to support inclusive growth

By: Mia Breytenbach     7th July 2017 The African Development Bank (AfDB) has approved a $15-million investment in multinational private equity fund Shore Capital Fund III (ShoreCap III), which promotes financial inclusion by supporting financial institutions serving Africa’s low-income and emerging middle-class communities. The... 

Malawi awards contract for rehabilitation of border road

By: Marcel Chimwala     23rd June 2017 The Malawi government has awarded China's Zhejiang Provincial Transportation Engineering Construction the tender to rehabilitate a 46 km road stretch from Karonga to Songwe, near the border with Tanzania. The project will be financed by a loan from the World Bank’s International Development... 

Uganda–Kenya road upgrade project.

By: Sheila Barradas     23rd June 2017 The project will upgrade the Kapchorwa–Kitale road section, which will foster regional trade and unlock the agricultural potential of the project area. 

AfDB, Japanese agency sign seventh loan agreement

By: Megan van Wyngaardt     19th June 2017 The Japan International Cooperation Agency (Jica) has signed a Y34.41-billion, or around $300-million, loan agreement with the African Development Bank (AfDB), intended to promote economic growth and reduce poverty in Africa through supporting the private sector. The loan is part of the enhanced... 

Malawi and Tanzania sign MOU for Songwe River Basin Programme 

By: David Oliveira     16th June 2017 Malawi and Tanzania signed a memorandum of understanding (MOU) last month at the Bingu International Convention Centre (BICC) in Lilongwe, Malawi, which will see the two African nations work together for the development of the Songwe River Basin Development Programme (SRBDP). The SRBDP was... 

AfDB approves $100m facility for ETG

By: Anine Kilian     15th June 2017 The African Development Bank (AfDB) has approved a $100-million facility to finance agricultural supply chain Export Trading Group’s (ETG’s) soft commodity value chain operations in sub-Saharan Africa. This soft commodity finance facility (SCFF) is one of the core trade finance instruments used... 

Bids sought for construction and rehab of Malawi water supply schemes

By: Marcel Chimwala     9th June 2017 Malawi’s Ministry of Agriculture, Irrigation and Water Development is inviting bids for the construction and rehabilitation of gravity-fed water supply schemes in Rumphi district, in the Northern Region, and in Nkhotakota district, in the Central Region. The assignment will be financed by the... 

Entrepreneurs key to unlocking continent’s economy – AfDB report

By: Megan van Wyngaardt     22nd May 2017 With the continent continuing to face sluggish growth, African governments need to integrate entrepreneurship more fully into their industrialisation strategies, the African Development Bank’s (AfDB’s) ‘African Economic Outlook 2017’ suggests. Last year, Africa’s economic growth slowed to 2.2%... 

India, Japan to push for One Belt, One Road counter at AfDB conference 

By: Ajoy K Das     19th May 2017 India will unleash its highest level of economic diplomacy at next week’s African Development Bank (AfDB) conference in the western city of Ahmedabad, with the aim of setting quantifiable targets of international economic and trade cooperation between the continents in a bid to counter China’s... 

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