Uganda's Umeme Limited Secures $70 Million Funding
Uganda's Umeme Limited has secured $70 million funding, money that will be geared towards funding infrastructure upgrades and expansion of the electricity grid network. Investors who took part in the [...]
Nigeria to Roll Out Visa on Arrival for Africans in 2020
Nigeria is set to roll out the visa on arrival for all Africans entering the country, with effect from January 2020. The move is aimed at supporting the free movement [...]IMF Approves $3 Billion Loan for Ethiopia
The International Monetary Fund (IMF) staff team has reached a preliminary agreement on policies that could constitute $2.9 billion financing package for Ethiopia. However, the agreement is subject to approval [...]
Caribbean Pacific Countries Pledge Support for Inter-Africa Trade
The recently concluded 9th African, Caribbean and Pacific (ACP) summit has seen member states rally support towards the growth of inter-Africa trade. For instance, the countries advocated for the establishment [...]IMF Approves Angola's $247 Million Reform Loan
The IMF has approved a $247 million reform loan for Angola. The loan is geared towards supporting the country's structural economic and governance reforms. The IMF had originally approved the [...]Total Acquires 16% Stake in Libya's Waha Concessions
Total has acquired Marathon Oils 16.3% stake in Libya's Waha concessions. This comes after Libya's National Oil Corporation (NOC) approved the acquisition. Total's acquisition encompasses a $650 million investment that [...]AfDB Approves €48.82 Million for Burkina Faso
The African Development Bank(AfDB) has approved a €48.82 million loan for Burkina Faso. The investment goes to the Yeleen solar power plant, with the intention of boosting national power supply. [...]Loon LLC Signs Overflight Agreement with Uganda
Loon LLC has signed an overflight agreement with the Ugandan government that will see it operate in the stratosphere above the country. In a statement, Loon says the agreement secures [...]Africa's Aviation Passengers Set to Double by 2038
In its latest forecast, IATA says that the Africa aviation market will increase by 200 million passengers to hit over 356 million by 2038. Speaking during the 2019 Routes Africa [...]Qatar Airways Acquires 60% Stake in $1.3 Billion Rwanda Airport Project
Qatar Airways has acquired a 60% stake in a new $1.3 billion Rwanda's Bugesera airport project. The government of Rwanda and Qatar Airways have announced an investment partnership for Rwanda's [...]Jumia Technologies Exits Rwanda Market
Jumia Technologies has successfully concluded its business in Rwanda after shutting down its food delivery business in the country. Jumia Foods was the company's remaining business in Rwanda after the [...]Tanzania's SGR to Link to Burundi and DRC
Tanzania has signed an agreement to link its SGR to Burundi and Democratic Republic of Congo (DRC). This is a blow for Kenya as it had hoped to link the [...]
