In Kenya, a new industrial park worth between $110 million and $150 million should be built in the coming years, indiqué Stefano Contardo (photo), Improvon group’s CEO, indicated in an interview granted to CNBC Africa. Named Nairobi Gate, the project plans the construction of plants and warehouses over 42 hectares to provide better locations to rapidly growing Kenyan...

Ethiopia plans to build three new industrial zones during the 2018/2019 fiscal year, Lelise Neme, managing director of Industrial Parks Development Corporation of Ethiopia (IPDC) indicated last week. According to the official’s statement reported by Xinhua, these industrial zones will be built in Aysha, Semera, and Assossa. Added to the four others already launched by the government, these...

The African public health NGO African Medical and Research Foundation (Amref Health Africa) has selected six Subsaharan startups out of a total of 300 to take part in its entrepreneur coaching programme named Innovate for Life Fund Accelerator. The selected tech companies operate in the health sector and their particularity is that they have developed innovative products that improve...

Ghana and Burkina Faso inaugurated the 225 KV power line linking them. The 188 km infrastructure links Bolgatanga in Ghana to Ouagadougou, Burkina Faso and has a 100 MW energy transport capacity, roughly one-third of the energy demand in Burkina Faso. It was built by the French company Eiffage for an amount estimated at CFA55 billion (about $96.2 million). “The government grants a subsidy...

The African Development Bank’s Africa Investment Forum (AIF), a game changer for financing Africa’s infrastructure development, is scheduled to take place at the Sandton Convention Centre, Johannesburg, South Africa from November 7-9, 2018. Although brimming with investment opportunities, there is an urgent need to bridge the gap between Africa’s available capital and bankable...

Euromoney Institutional Investor, the largest business and financial media publisher in Europe, agreed to sell Mining Indaba, its investment conference, to ITE Group, for £30.1 million. The amount of this transaction will be paid in two tranches, a first of £20 million to be paid upon closure of the deal (by the end of October 2018) and the balance on June 1, 2019.  Mining Indaba is the...

In Ghana, keeping the price of cocoa for the 2018/2019 cocoa season launched today at 7,600 cedis per ton ( the price set since October 2016) will make the country lose 1.5 billion cedis ($300 million), Ghanaweb reports, quoting the agriculture ministry. According to Kennedy Osei Nyarko, deputy minister of agriculture, the status-quo observed shows the executive’s will to pay the...

In Kenya, Facebook will soon start reporting fake news published on its platform. Indeed, yesterday, the social media announced that with the help of users, it would do this in collaboration with Africa Check, an independent fact-checking website. Facebook reached this decision to curb the flow of fake news. Agence France-Presse (AFP) will also take part in the project. If a news is...

This week, Mozambique launched the construction of a 165 km road for an estimated cost of $40.6 million, the news agency AIM indicated. According to information reported by the news agency, the road should link Mueda to Negomano at Tanzania’s border and reduce the traveling time. It is planned to be built in two phases and should also contribute to economic growth by facilitating...

State Bank of Mauritius (SMB) Holdings announced that it lost $14 million in a cyber attack targeting its operations in India. The bank listed on Mauritius stock exchange assured its clients that despite this incident, their savings are secure. "The SBM Group remains well capitalised and has sufficient liquidity to continue to finance its future plans", the bank indicated. While an internal...