NIGERIA ECONOMY IN NEED OF PRIVATE INVESTMENTS – LCCI

NIGERIA ECONOMY IN NEED OF PRIVATE INVESTMENTS – LCCI

LCCI advocates for increased private investments in Nigeria economy.

President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase, said Nigeria economy is in need of private investments. These investments will help create jobs, diversify the economy and also improve the welfare of the country’s inhabitants.

He …

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GHANA LAUNCHES COMMODITY EXCHANGE IN ACCRA

GHANA LAUNCHES COMMODITY EXCHANGE IN ACCRA

Ghana launches Commodity Exchange for Agricultural products.

Ghanaian President Nana Akufo-Addo, have launched a commodity exchange in Ghana. The exchange will help farmers market their products and also receive payments within 24 hours.

The Ghanaian government has also identified the commodity exchange as a key driver in realizing its goal …

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RWANDA AND ALIBABA GROUP SIGN AGREEMENT TO HELP BOOST ECONOMIC DEVELOPMENT

RWANDA AND ALIBABA GROUP SIGN AGREEMENT TO HELP BOOST ECONOMIC DEVELOPMENT

Rwanda and Alibaba sign an electronic world trade platform (eWTP) agreement to help boost economy.

The Rwandan government and Alibaba Group, a leading international online commerce company; have signed three (3) Memoranda of Understanding (MoU) to help boost the country’s economy.

Under the agreement, Alibaba have also established an electronic …

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NIGERIA RECEIVES €31m FROM GERMANY’S KfW DEVELOPMENT BANK

NIGERIA RECEIVES €31m FROM GERMANY’S KfW DEVELOPMENT BANK

KfW development Bank supports Nigeria’s Infrastructure development with €31 million investment.

To help boost infrastructure development in Nigeria; the largest investment bank in Europe, KfW Development Bank have invested €31 million. Receiving the €31 million investment is Infrastructure Credit Guarantee Company Ltd (InfraCredit).  InfraCredit is a specialised infrastructure credit enhancement …

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EXXON MOBIL TO BEGIN OIL EXPLORATION IN GHANA

EXXON MOBIL TO BEGIN OIL EXPLORATION IN GHANA

Exxon Mobil set to begin Oil exploration in Ghana.

Exxon Mobil, the world’s fourth largest oil company is ready to begin full-scale exploration for oil in Ghana. The base for the exploration is the West Cape Three Points in the Western Region; near Ivory Coast.

The Global Oil giant has …

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CHAD TO RECEIVE US$125m SUPPORT FROM WORLD BANK

CHAD TO RECEIVE US$125m SUPPORT FROM WORLD BANK

Chad to get US$125 million developmental support from World Bank

To help support developmental projects in the Chad; World Bank have announced a US$125 million support for the Central African country.

Acoording the the Bank, the support will two frameworks. The signatories for the support agreement were Chadian minister of …

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UGANDA RURAL ELECTRIFICATION PROGRAMME GETS US$212m

UGANDA RURAL ELECTRIFICATION PROGRAMME GETS US$212m

Uganda gets US$212 million from Chinese government for Rural Electrification Programme.

The Chinese government have given a US$212 million loan to Uganda to help support its rural electrification programme. Uganda plans to increase its rural electrification access rate to 51 per cent by 2030. Under the rural electrification programme it …

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MALI TO OPEN US$139m 90MW POWER PLANT NEXT WEEK

MALI TO OPEN US$139m 90MW POWER PLANT NEXT WEEK

Mali’s 90MW power plant to go online by next week

Mali’s first independent power project, a 90MW power plant will become active by next week. The 90MW plant costs about US$139.06-million (€122-million), and will also help drive foreign investment in the West African country. It’s location is in the gold-rich …

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NIGERIA RECEIVES US$24m INVESTMENT FROM USADF FOR BOOSTING RURAL FARMING

NIGERIA RECEIVES US$24m INVESTMENT FROM USADF FOR BOOSTING RURAL FARMING

USADF have provided Nigerian cooperative societies with US$24 million to help boost local enterprises and rural farming.

To improve rural farming and local enterprise in Nigeria, cooperative societies in Nigeria receive about US$24 million in grants by the United States African Development Foundation (USADF).

Reports from Diamond Development Initiatives (DDI) …

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SOUTH AFRICA GETS STEEL AND ALUMINUM TARIFF EXEMPTION FROM UNITED STATES

SOUTH AFRICA GETS STEEL AND ALUMINUM TARIFF EXEMPTION FROM UNITED STATES

Some companies in South Africa get tariff exemption from U.S on its Steel & Aluminum products.

Some local producers in South Africa have receive steel & aluminum tariff exemption from the United States Government. President Donald Trump’s decision last year to enact a 25 percent and 10 percent tariff on …

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NIGERIAN AGRICULTURAL SECTOR TO GET US$1.1bn INVESTMENT FROM BRAZIL

NIGERIAN AGRICULTURAL SECTOR TO GET US$1.1bn INVESTMENT FROM BRAZIL

Nigerian agricultural sector will receive investment from Brazil worth US$1.1 billion by the end of October 2018.

The Nigerian agricultural sector will receive a US$1.1 billion investment from the Brazilian government by the end of October 2018. This information is according to Ricardo Guerra de Araujo, Brazil’s Ambassador to Nigeria. …

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NIGERIAN LAWMAKERS OPPOSE SELLING OF AJAOKUTA STEEL COMPANY

NIGERIAN LAWMAKERS OPPOSE SELLING OF AJAOKUTA STEEL COMPANY

Nigerian House of Representatives oppose selling of Ajaokuta Steel company by Federal Government.

The Central Bank of Nigeria (CBN) governor Mr. Godwin Emefiele, recently also confirmed that the federal government is planning to sell the Ajaokuta Steel Company. He made the announcement while addressing Nigerian delegation at the  International Monetary …

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AFRICAN ECONOMIES ARE NOT COMPETITIVE – WEF 2018 REPORT

AFRICAN ECONOMIES ARE NOT COMPETITIVE – WEF 2018 REPORT

African economies rank least competitive in World Economic Forum (WEF) 2018 report .

World Economic Forum (WEF) 2018 report says various African Economies have remained uncompetitive. The reason its says is especially due to weak institutions and inadequate public policies.

In the WEF 2018 report; US Economy topped the world …

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NIGERIAN SENATE APPROVES EUROBOND ISSUE WORTH US$2.786bn

NIGERIAN SENATE APPROVES EUROBOND ISSUE WORTH US$2.786bn

The Nigerian Senate have given approval for a US$2.786 billion eurobond issue.

The Nigerian Senate have approved a US$2.786 billion Eurobond issue. While approving the eurobond, the senate also urged the country to focus on increasing revenue and limit its foreign borrowing. This it says is to avoid a cleverly …

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NIGERIA’S MINING SECTOR TO RECEIVE US$3.32bn FROM PRIVATE INVESTORS

NIGERIA’S MINING SECTOR TO RECEIVE US$3.32bn FROM PRIVATE INVESTORS

Nigeria mining sector set to get US$3.32 billion as private investors show interest.

At the ongoing Third Annual Nigeria Mining Week in Abuja, Nigeria’s Minister of State, Mines and Development Alhaji Abubakar Bwari, said private investors are ready to commit about US$3.32 billion to fund projects in Nigeria’s mining sector.…

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SUDANESE POUND INCREASES VALUE FOR THE FIRST TIME

SUDANESE POUND INCREASES VALUE FOR THE FIRST TIME

The value of Sudanese pound increases for the first time after devaluation.

According to bankers, the Sudanese pound have gained weight as it now values at 46.95 to the US dollar. This is the first rise since the devaluation of the Sudanese national currency. The devaluation is a new strategy …

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AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFRICA FINANCE CORPORATION SECURES US$300m FROM EXPORT-IMPORT BANK OF CHINA

AFC acquires US$300m loan facility from CEXIM

Leading infrastructure development finance institution in Africa, Africa Finance Corporation (AFC) successfully acquired a US$300 million loan from Export-Import Bank of China (CEXIM). Making up the loan is a US$200 million 5-year loan and also a US$100 million 5-year stand-by facility. The loan …

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SOUTH AFRICA SECURES US$35bn INVESTMENT COMMITMENT

SOUTH AFRICA SECURES US$35bn INVESTMENT COMMITMENT

South Africa have acquired US$35 billion out of the US$100 billion it needs for reviving its economy.

South Africa have received investment pledges of about US$35 billion as part of its plans to attract US$100 billion. The US$100 billion is for reviving the country’s economy.

The South Africa president Cyril …

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AfriStructure – A Digital Magazine

AfriStructure – A Digital Magazine

A brief summary of the upcoming digital publication by Gambeta News – AfriStructure

The name AfriStructure comes from the combination of Africa and Infrastructure. Like it’s name, the magazine will certainly focus on solving Africa’s Infrastructural problems by releasing quarterly issues that highlight successes recorded across the 54 African countries.…

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