The South African pharmaceutical company Aspen Pharmacare Holdings announced, on October 26, that it would invest ZAR3.4 billion ($231 million) in an anesthetic production line in its Port Elizabeth based plant (1050 km from Johannesburg). "The investment will support the production of sterile anesthetics", said Stavros Nicolaou, one of the high officials of Aspen, during an investment...

CAISSE DES DEPOTS ET CONSIGNATIONS (CDC), Gabon’s deposit and consignment fund, is finalizing the launch of a CFA20 billion equity fund. This was disclosed to Ecofin Agency by one of the company’s managers during the investment forum held in Geneva, Switzerland on October 22-26, 2018.  "We are still working on the structure of such fund and are adapting optimally to the development of...

The Gabonese Strategic Investment Fund (FGIS) and the Pan-African industrial Group Eranove have signed, with the Government of the Gabonese Republic, a concession agreement for the production of drinking water and two power purchase contracts. The concession agreement for the Orélo water treatment and supply plant in the Komo- Kango department The signature of the concession agreement for the...

Chad will benefit from a support of $125 million from World Bank to fund its development projects, the news agency Xinhua indicated citing official sources. According to the information relayed by the media, the support would be provided as donations in the framework of two agreements signed by the Chadian minister of economy Issa Doubragne and World Bank resident representative François...

The Trade Finance Division of the African Development Bank and the International Islamic Trade Finance Corporation (ITFC), have teamed up with the International Chamber of Commerce (ICC) to launch a Joint AfDB-ITFC Trade Finance E-Learning Program for African Financial Institutions. This program will provide online post-training to about 500 trade finance staff of 200 local partner banks in more...

The French car manufacturer Renault plans to increase the production capacity of its plants in Morocco to 500,000 cars yearly, Carlos Ghosn (Photo), the company’s CEO announced last Friday. According to information relayed by Les Echos, this new target is aimed at meeting rising demands that translated in strong growth in the sale of the Dacia branded cars manufactured by the company during...

Rain, the South African mobile network operator, will launch 5G network in the country on November 12, 2018. This was revealed by the company’s president Paul Harris, during a conference on investments in South Africa held on October 25-27, 2018 in Johannesburg. The 5G network will initially be used to provide high broadband to individuals and SMEs. Because of the spectrum’s scarcity, Rain...

Cape Verde and Guinea will soon be linked by a submarine optical fiber baptized "Cap Amílcar Cabral". An agreement was inked in that regard on October 23, 2018, by the manager of Guinéenne de large bande (Guilab), the Guinean telecom infrastructures and Cabo Verde Telecom, Cape Verde's incumbent telecom operator. The collaboration materialized at Praia by Mohamed Diallo and José Luís...

The African Development Bank Group, has approved a US$15 million grant from the African Development Fund (ADF) for a water supply and sanitation project in Malawi, expected to provide jobs and boost the livelihoods of nearly 300,000 people. The Nkhata Bay Town Water Supply Project will improve access to potable and sustainable water supply and sanitation services, directly benefitting 60,000...

In line with its Jobs for Youth in Africa (JfYA) Strategy to boost job creation and entrepreneurship across Africa, the African Development Bank held a breakfast session at the ongoing 24th Nigerian Economic Summit themed, “Education to Employment – Mind the Gap.” The session was a joint event between the Bank, National Universities Commission (NUC), Federal Ministry of Labour and...