Africa Business In Brief – 10 SEP 2019



China commits USD1.4-billion investment into bankable energy projects in Africa

The African Energy Chamber has managed to secure over USD1.4-billion in intentions to invest in Africa’s bankable projects in mining, oil and gas, power, and renewables sectors. “During various meetings with top Chinese energy companies and financial institutions, the Chamber discussed the signing of agreements and contracts that will make energy work for Africa while providing Chinese investors with attractive and rewarding opportunities in Africa”.

Source: ESI-Africa


World Bank, Japan to support human capital development through education in Africa

The World Bank and the Government of Japan have announced a new initiative which is Africa focused and is aimed at advancing the goals of the Human Capital Project, a global effort to accelerate more and better investments in people for greater equity and economic growth. The multi-year initiative, which was announced during the seventh Tokyo International Conference on African Development (TICAD) in Yokohama, will support two key initiatives of relevance to African countries namely: Global Education Policy Dashboard and a Japan-Africa higher education partnership.

Source: African Business Communities


Angola may start supplying South Africa with oil and natural gas

According to the Angolan Secretary of State for Geology and Mines, Jânio Corrêa Victor, South Africa plans to acquire oil and natural gas extracted in Angola. This is based on an intention expressed by the South African Minister of Mineral Resources and Energy, Gwede Mathashe. Minister Mathashe is said to be planning to travel to Luanda to meet the Angolan Minister of Mineral Resources and Oil, Diamantino Azevedo, so that his country can start receiving oil and gas extracted in Angola, according to the Angop news agency.

Source: Macauhub


International Finance Corporation boosts credit line to support Angolan companies

According to Angolan bank, Banco de Negócios Internacional (BNI), the International Finance Corporation (IFC) has increased the USD50-million credit line set up in July 2014. BNI said in a statement that adding to this line of credit, along with enhancing the bank’s credibility with that international financial institution, will also allow it to increase support to the country’s business sector.

Source: Macauhub


Inauguration of Maria Gleta plant boosts Benin’s power supply by 50%

The Maria Gleta plant, located near the city of Cotonou, has been officially inaugurated by Dona Jean-Claude Houssou, Benin’s Energy Minister. The plant will supply the national grid with 127MW of electricity increasing Benin’s capacity for electricity generation by more than 50%. According to Minister Houssou, the plant was part of the government’s ‘Revealing Benin’ action plan, which centres around 45 flagship projects aimed at strengthening macroeconomic development, consolidating democracy and improving the lives of the population.

Source: ESI-Africa


The Central Bank of Kenya (CBK) approves National Bank acquisition by KCB

According to a report by African Business Communities, The Central Bank of Kenya (CBK) has approved the acquisition of 100 percent shareholding of National Bank of Kenya Limited (NBK) by KCB Group PLC (KCB Group). The approval has been granted in accordance with Section 13(1) (e) of the Banking Act. KCB Group is a Kenyan non-operating holding company that owns banking subsidiaries in the East African region in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan.

Source: African Business Communities


Kenyan capital markets receive new boost with ICIFA and CISI joint membership deal

The Chartered Institute for Securities & Investment (CISI) and the Institute of Certified Investment and Financial Analysts (ICIFA) have formed a partnership which will back the enhancement of standards in professionalism and integrity in Kenya’s capital markets. Dr. Jonah Aiyabei of ICIFA said: “The partnership between ICIFA and the CISI sets a significant milestone for closer collaboration among the two professional institutes. We are indeed proud to be associated with the CISI and we look forward to a cohesive working relationship aimed at promoting integrity and professional development in the financial services industry not just in Kenya but globally.”

Source: African Business Communities


Madagascar joins Africa Finance Corporation as 22nd member state

Madagascar has joined the Africa Finance Corporation (AFC) after being the 22nd state to do so. Richard Randriamandrato, Madagascar’s Minister of Economy and Finance said that “As a Country we are committed to the reduction of poverty in Madagascar, of which development of infrastructure plays an integral role. We see AFC as a key solution provider towards our development goals and look forward to working closely in the coming years.”

Source: African Business Communities


Toshiba follows on pact to develop geothermal energy in Malawi

Toshiba has pledged to support the government of Malawi in the development of geothermal energy. The Toshiba group’s president, Satoshi Tsukanawa said that Toshiba is increasing its focus on Africa, including Malawi and plans to support the continent in developing the areas of geothermal and hydropower systems. Continue reading…

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