HIGHLIGHTS OF THE FIDIC-GAMA 2019 CONFERENCE

HIGHLIGHTS OF THE FIDIC-GAMA 2019 CONFERENCE

Highlights of interesting activities at the Fidic-Gama 2019 conference in Kampala Uganda.

The 26th FIDIC-GAMA Infrastructure Conference in Kampala Uganda was littered with lots of interesting activities. The 3 days (12th – 14th May 2019) International conference organized by the Uganda Association of Consulting Engineers (UACE) and

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MTN NIGERIA COMPLETES REGISTRATION WITH SEC.

MTN NIGERIA COMPLETES REGISTRATION WITH SEC.

MTN Nigeria completes registration of 20.345 billion ordinary shares with SEC.

MTN Nigeria on Tuesday (7th May, 2019); announced that it has finally completed registration with the Securities and Exchange Commission (SEC). The Telecoms giant registered 20.345 billion (20,354,513,050) ordinary shares of N0.02 each. According to Ferdi Moolman, the Chief …

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GAMBIA SIGNS OIL EXPLORATION DEAL WITH BP Plc

GAMBIA SIGNS OIL EXPLORATION DEAL WITH BP Plc

Gambia gives license of disputed A1 offshore block to BP Plc

Amidst dispute for the A1 offshore block in Gambia; the Gambian government recently announced the signing of an oil exploration deal with BP Plc.

BP Plc is a British multinational oil and gas company with operations in 70 countries …

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CROSS RIVER STATE ELECTRIC CAR PLANT TO BE ESTABLISHED SOON

CROSS RIVER STATE ELECTRIC CAR PLANT TO BE ESTABLISHED SOON

Cross River state partners with Sirieco Company to build Cross river state electric car plant

There will soon be a Cross River state electric car plant. According to the Chief Executive Officer of Sirieco Company, Mr. Groidis Peter; the government of Cross River state plans to establish an electric car …

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ECOWAS and UEMOA PRIORITISES INVESTMENTS IN TRANSPORT AND ENERGY SECTOR

ECOWAS and UEMOA PRIORITISES INVESTMENTS IN TRANSPORT AND ENERGY SECTOR

ECOWAS and UEMOA plan to prioritise mostly investments in transport and energy sectors.

At a recent European External Investment Plan meeting in Accra, Ghana; the Economic Community of West African States (ECOWAS) and West African Economic and Monetary Union (UEMOA) said; it wishes to prioritise investments in the transport and …

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GHANA’s INDUSTRIALIZATION PROGRAM RECEIVES US$300m FROM US EXIM BANK

GHANA’s INDUSTRIALIZATION PROGRAM RECEIVES US$300m FROM US EXIM BANK

US EXIM Bank supports Ghana’s industrialization with US$300 million

Ghana’s industrialization through the One-District One-Factory (1D1F) program; have received a support of US$300 million from The Export-Import Bank of the United States (US EXIM).

The Export-Import Bank of the United States (US EXIM) and Ghana Export-Import Bank (GEXIM); recently signed …

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CHINA FUNDS KENYA’S DATA CENTRE AND HIGHWAY WITH US$666m

CHINA FUNDS KENYA’S DATA CENTRE AND HIGHWAY WITH US$666m

Kenya’s data centre and highway gets US$666m China funding.

A data centre and highway in Kenya have received 67.5 billion shillings (US$666 million) as funding from China. The funds were issued  at Beijing where Kenya’s President Uhuru Kenyatta attended the second Belt and Road Forum.

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SEPLAT PARTNERS WITH NNPC TO RAISE US$700m GAS DEVELOPMENT FUNDS

SEPLAT PARTNERS WITH NNPC TO RAISE US$700m GAS DEVELOPMENT FUNDS

Seplat teams up with NNPC to improve gas production in Nigeria.

Seplat Petroleum Development Company recently announced that it is partnering with Nigeria National Petroleum Corporation (NNPC); to raise US$700 million for a gas development project.

The US$700 million is for a joint gas project in Imo state; which will …

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MTN NIGERIA CONVERTS FROM LTD TO PLC

MTN NIGERIA CONVERTS FROM LTD TO PLC

MTN Nigeria converts to Plc so as to list on the Nigerian Stock Exchange

MTN Nigeria recently announced its conversion from a Private company (Ltd) to a Public Limited Company (Plc). In a statement released on Wednesday April 24 2019; the telecom company, now MTN Nigeria Communications Plc gave reason …

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NNPC HAS PAID US$1.5bn CASH CALL ARREARS TO IOCs

NNPC HAS PAID US$1.5bn CASH CALL ARREARS TO IOCs

NNPC reduces its cash call arrears to JV partners by US$1.5 billion

The Nigerian National Petroleum Corporation (NNPC) via its group managing director Maikanti Baru; said it has repaid US$1.5 billion of the cash call arrears owed to its foreign oil partners. The director who made the statement at the …

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NIGERIA DIASPORA REMITTANCES REACHES US$24bn

NIGERIA DIASPORA REMITTANCES REACHES US$24bn

Remittances from Nigerian Diasporas hits US$24 billion in 2018

Remittances from diasporas of Africa’s most populated country – Nigeria in 2018 reached US$24.3 billion. This is the highest figure across Sub-Saharan Africa and it is also US$2 billion higher than the inflows in 2017.

World Bank’s latest Migration and Development …

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CHEVRON SEALS DEAL TO ACQUIRE ALGERIAN OIL FIRM

CHEVRON SEALS DEAL TO ACQUIRE ALGERIAN OIL FIRM

Chevron acquires Algerian oil firm – Anadarko Petroleum

American multinational energy corporation – Chevron, have recently signed a deal to buy Algerian oil firm – Anadarko Petroleum. The final terms of agreement entails that Chevron will acquire all of Anadarko Petroleum outstanding shares; in a stock and cash transaction valued …

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STAGES OF FINANCING IN BUSINESS (STARTUPS)

STAGES OF FINANCING IN BUSINESS (STARTUPS)

The Stages of Startup Funding

There are several stages of financing in business. Businesses especially startups raise capital for various levels and types of business operations through series or multiple rounds of financing and funding. These funding rounds or stages includes Pre-seed capital and seed capital, Series A, B, and …

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PEG AFRICA COMPLETES US$25m SERIES C FUNDING

PEG AFRICA COMPLETES US$25m SERIES C FUNDING

PEG Africa raises US$25 million Series C funding to boosts its off-grid solar expansion in West Africa

A solar company PEG Africa, who provides pay-as-you-go (PAYG) solar services in West Africa; have raised a US$25 million Series C funding. This have now taken its funding total to US$50 million.

PEG

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NNPC’s STRATEGY TO CUT FUEL IMPORTS IN NIGERIA

NNPC’s STRATEGY TO CUT FUEL IMPORTS IN NIGERIA

Nigeria’s NNPC will rehabilitate refineries to cut fuel imports

The Nigerian National Petroleum Corporation (NNPC) have come up with a strategy to end reliance on fuel imports in Nigeria. Recently NNPC stated plans to rehabilitate its refineries; this it also said will help save the country millions of dollar on …

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ACS GROUP TO BUILD WORLD’S LARGEST SULFURIC ACID PLANT IN MOROCCO

ACS GROUP TO BUILD WORLD’S LARGEST SULFURIC ACID PLANT IN MOROCCO

Construction of two of the world’s largest sulfuric acid plant is ongoing in Morocco.

ACS Group will build two of the world’s largest Sulfuric Acid Plant in Morocco; as Rabat Morocco’s OCP group and Spain’s ACS Group sign contract to build the factories in Jorf Lasfar. The factories which will …

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NEW INTERNATIONAL AIRPORT UNDER CONSTRUCTION IN UGANDA

NEW INTERNATIONAL AIRPORT UNDER CONSTRUCTION IN UGANDA

Uganda’s second international Airport under construction

A new international airport in Uganda will soon surface. The Hoima International Airport also called Kabaale International Airport, is currently under construction in Uganda. This airport when completed will be Uganda’s second airport asides the Entebbe International Airport.

The airport design will see it …

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FRANCE TO SUPPORT ACCESS TO WATER AND SANITATION IN UGANDA

FRANCE TO SUPPORT ACCESS TO WATER AND SANITATION IN UGANDA

French Development Agency (AFD) supports access to water and sanitation in Uganda with €270 million

The Ugandan government and the French government via French Development Agency (AFD); have signed a loan deal to help support access to water and sanitation in Uganda. The loan deal comprises of two separate financing …

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MAINONE AND FACEBOOK TO PROVIDE HIGH SPEED INTERNET IN TWO NIGERIAN STATES

MAINONE AND FACEBOOK TO PROVIDE HIGH SPEED INTERNET IN TWO NIGERIAN STATES

MainOne and Facebook partner to deepen broadband internet penetration in Nigeria.

Two of Nigeria’s fastest growing states Edo and Ogun state would be beneficiaries of a partnership between MainOne and Facebook. MainOne on Monday 25th February 2019, said it plans to undergo a metro fiber infrastructure project in the two …

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KENYA CONSIDERING FULL OWNERSHIP OF KENYA AIRWAYS

KENYA CONSIDERING FULL OWNERSHIP OF KENYA AIRWAYS

Kenya government considering full ownership of Kenya airways to effectively ward off competition from other state-owned airlines in Africa.

According to the Transport Principal Secretary Esther Koimett; the Kenyan government is considering taking back full ownership of Kenya Airways which is its national carrier. The full ownership of Kenya Airways …

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