In 2018, global greenhouse gas (GHG) emissions reached a new record, even exceeding the average over the past decade, the World Meteorological Organization (WMO) said. Concentration of CO2 in the atmosphere reached 407.8 parts per million (ppm), 147% higher than the pre-industrial level in 1750. “It is worth recalling that the last time the Earth experienced a comparable concentration of CO2...

The Board of Directors of the African Development Bank Group on Thursday approved a long-term Senior Loan of $400 million to support the building of an integrated Liquefied Natural Gas (LNG) plant, including a liquifaction facility in Mozambique. The Mozambique LNG Area 1 Project, ranked Africa’s single largest Foreign Direct Investment to date, comprises a global team of energy...

African countries must act faster to purge corruption in the land sector by harnessing technology and innovation, African Development Bank Senior Vice President Charles Boamah urged on Monday. Boamah, who was speaking to policymakers and stakeholders at a conference on Land Policy in Africa in the Ivorian capital, Abidjan, also called for the deployment of more financial and human resources...

The Africa Finance Corporation (AFC) has advanced $20 million for the construction of a 60,000 barrel per day oil refinery in Uganda. This first disbursement paves the way for a $4.27 billion project. Financing papers were signed in the presence of the AFC managing director Ammadou Wadda, African Development Bank president Akinwumi Adesina and representatives of the Albertine Graben...

Following an investment round table held last week in Hamburg, Germany, Côte d'Ivoire raised about $6.4 billion for its tourism sector, tourism minister Siandou Fofana (pictured) announced. This amount is significantly higher than the $2 billion initially targeted by the government and will be pumped into 12 projects as part of the “Sublime Côte d'Ivoire” program. The latter aims...

Muma Emmanuel (pictured) is the only survivor of the deadly plane crash that occurred on November 24 in DR Congo killing more than 25. The man was taken out of rubble and rushed to the “Charité Maternelle” hospital in the city of Goma, where the tragedy happened. Cameroonian native and father of 3, Muma Emmanuel works in the telecoms sector and provides services in his home country, Congo...

On November 20, during a parliamentary hearing, the French Minister of Armed Forces, Florence Parly (pictured), discussed the financing of the G5 Sahel. The official criticized Saudi Arabia, one of France’s close allies, for failing to honor its commitments to provide millions of euros to the joint security force. In 2017, Saudi Arabia said it would approve over €100 million for the G5...

The World Bank will finance the construction of a 27 km railway line between Matola and Albazine stations in the metropolitan region of Maputo, the capital of Mozambique. According to Amade Camal, President of Metrobus, the bank will first disburse $130 million, which will be used to build railway stations, electrify lines, train staff and purchase electric trains. Metrobus is an...

Egypt's tourism revenues increased to $12.5 billion in FY2018-2019, tourism minister Rania Al-Mashat (pictured) said this week in an interview with Bloomberg. According to the manager, these are the highest tourist revenues in the history of Egypt. The good performance comes after the serious crisis that hit the sector from the 1970s onwards, due to the increase in attacks targeting areas...

Chinese electronics company ENGO Holdings launched today its computer and mobile phone assembly and manufacturing plant in Uganda. The inauguration ceremony was headed by the country’s president Yoweri Museveni. The new factory, located in the Namanve Industrial Park in Wakiso District, Uganda, is the result of a memorandum of understanding signed between ENGO Holdings, the National...