EPPM will start construction of the offshore platform and the onshore power plant in 2023 EPPM in Tunis, and Kivu Power in Kinshasa, have reached the final stage of securing all the administrative authorizations required to start the construction of their gas-to-power project on Lake Kivu in 2023. Kivu Power will install on the Lake Kivu an offshore methane gas extraction and treatment...

While praising the resilience of African banks in complex domestic and international conditions, Fitch Ratings believes that persistent imbalances in China or a government debt crisis in the region are risks to watch. Government debts and developments in the Chinese economy will test African banks’ current ability to withstand the shocks of rising global inflation, Fitch Ratings warns in its...

As demand for broadband internet is growing, MTN wants to anticipate shifts in the demand to meet current and future industry challenges and remain competitive in the market.  MTN Group has contracted its long-time partner Teoco, which specializes in network analysis, assurance, and optimization solutions, to plan the extension of the fifth-generation (5G) mobile network of its South...

Eradicating hunger in Africa by 2030 is possible, said global agriculture leaders in Rome. Meeting ahead of the African Food Summit (Dakar 2) to be hosted by President Macky Sall in Dakar, Senegal, from 25-27 January 2023, President of the African Development Bank Group Dr. Akinwumi Adesina, the International Fund for Agricultural Development (IFAD) President Alvaro Lario and the Food...

The funding is expected to be disbursed through the International Finance Corporation and the International Development Association for several projects in the transport, energy, technology, and food processing sectors. The World Bank Group plans to mobilize US$2.5 billion to finance projects implemented following the public-private partnership (PPP) model in Kenya between 2023 and...

The Board of Directors of the African Development Bank Group has approved a $10 million reimbursable grant from the Sustainable Energy Fund for Africa (SEFA) to support a geothermal drilling program that will add 50 megawatts of renewable energy to Ethiopia’s power system. The Tulu Moye Geothermal Operations PLC (TMGO) project entails developing and operating a 50-megawatt power...

The African Exchanges Linkage Project (AELP) has launched an e-platform (The AELP Trading Link), enabling seamless cross-border securities trading among seven African stock exchanges representing 2,000 companies with roughly $1.5 trillion market capitalization.  The AELP Link Trading Platform incorporates stock market integration, an order routing system, and market and order-book data...

The anti-corruption fight is still raging with full force in Malawi. Several prominent figures have been arrested but this time, the head of the country’s anti-corruption bureau was arrested last Tuesday before being released on bail.  The director general of the Malawi Anti-Corruption Bureau (ACB), Martha Chizuma (photo), was recently arrested by the police, local media reported last...

On October 21, the NCC announced that it would auction two lots of 5G telecom spectrum on December 19, 2022. This was an opportunity for Airtel, Globacom, and 9mobile to enter the 5G market amidst high demand for broadband connectivity. The Nigerian Communications Commission (NCC) announced, Wednesday (December 7), that Airtel Networks Limited is the only company in the race to acquire a license...

In Sub-Saharan Africa, close to half of bank clients agree to their data being shared with financial services providers.  According to a report released on November 14 by audit, consulting and advisory firm PricewaterhouseCoopers (PwC), 46% of banked adults in sub-Saharan Africa are willing to share their banking data with third-party players as part of an open banking system under certain...