Five African commercial banks will finance the construction of the world’s biggest marine diamond mining vessel. Debmarine Namibia, a joint venture between mining giant De Beers and the Namibian government, announced in a statement issued June 20 it has concluded a $375 million agreement with the banks in that regard. 80% of the monies will be granted by Nedbank Namibia, RMB Namibia,...

South African investment firm EXEO Capital announced the final closing of its second investment fund Agri-Vie II with commitments worth $146 million. To date, this agribusiness fund has made equity investments ranging between $5 million and $15 million in 4 companies with strong growth potential in sub-Saharan Africa. “Investors in our first fund followed on in the second,”...

The population of sub-Saharan Africa is expected to double reaching 2.12 billion in 2050 from the current 1.06 billion. The statistics is provided by the United Nations Organization in its latest World Population Prospects report issued June 17.Population will reach 1.4 billion in 2030 and 3.78 billion from 2100. “More than half of the world's population growth will be in Africa by 2050,”...

The Namibian government is targeting $1 billion worth of investments over the next two years, Reuters reports quoting a statement of the Ministry of Information and Communication Technology. The government is counting on the coming economic forum the country is to host from July 31 to August 1 to mobilize the sum. This forum is set to revive and boost the economy, create jobs and attract...

The contribution of Information and Communications Technologies to Egypt’s GDP went up 3% from 15 to 18% in the last 9 months. This was reported last week by the sector’s manager Amr Talaat (photo), during the annual conference Tech Invest 3. According to the minister, it is possible that the figure reaches 19% by the end of FY2019, making a total growth of 4%. He says his ministry is...

The Burkinabe government is launching a big program worth about $309 million to rehabilitate roads across the country. The information was reported Wednesday June 19 by spokesman Rémis Dandjinou (photo).According to him, the program targets 14 projects in various towns including Ouagadougou and Bobo-Dioulasso. Nearly $45 million will be used, in the first city, to develop the...

Alliance for Affordable Internet (A4AI), an international organization that advocates for greater accessibility of the Internet worldwide, will conduct a study on improving electronic communications and postal services in Benin. The decision was taken by the government following a Council of Ministers held June 19, 2019. “This study aims to improve accessibility to networks and services, in...

Nigeria is getting $225 million under a USAID program to improve access to basic care for populations. The information was reported by Stephen Haykin (photo) who led the US Agency for International Development -USAID- mission in the country. This disbursement, Mr. Haykin says, is part of the 5-year Integrated Health Program (IHP) that “will bring quality basic healthcare closer to the...

Luc Missidimbazi, telecoms and digital services adviser to the Congolese Prime Minister Clément Mouamba, has been leading a digital prospecting mission in France since 18 June 2019. The mission is to consolidate the Congo-France Digital Club, a club for business convergence and opportunities between Congolese and French digital companies, created on 15 April in Brazzaville, on the sidelines of...

The Investment and Support Fund for Businesses in Africa (FISEA), owned by the French Development Agency (AFD), approved a €1.8 million ($2 million disbursement in favor of AB Bank Zambia. With this amount, the Zambian bank intends to increase support to small- and mid-sized enterprises (SMEs) which make 97% of the country’s corporate world and provide 70% of national GDP. AB Bank...