KENYA TO BORROW US$ 4.1 BILLION FOR EXPANSION OF ECONOMY

KENYA TO BORROW US$ 4.1 BILLION FOR EXPANSION OF ECONOMY

Kenyan Lawmakers set to borrow funds but is that the right thing for the nation economy??

Kenyan lawmakers has given the green light for the country to borrow US$4.1 billion (422 billion shillings) from external lenders. This fund will help the nation in term of expanding its economy by increasing …

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GHANA GOVERNMENT TO RELEASE FUND FOR OUTSTANDING ROAD DEBT

GHANA GOVERNMENT TO RELEASE FUND FOR OUTSTANDING ROAD DEBT

Outstanding Road debt set to be paid after fund collaboration between Ministry of Roads and Highways and Ghana Cocoa Board.

Plans are in motion from Ghana Government to release US$1billion to pay debt for road construction. This was announced by the Minister of Roads and Highways, Kwasi Amoako-Attah during a …

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ETHIOPIA SIGNS BILLION DOLLAR ENERGY INVESTMENT

ETHIOPIA SIGNS BILLION DOLLAR ENERGY INVESTMENT

Ethiopia’s indebtedness to China grows following energy investment

Following a meeting with State Grid Corporation of China, PM Abiy Ahmed oversaw the signing of a US$1.8 billion investment agreement which covers provision of electric power transmission and distribution lines. The project will supply power for up to 16 industrial parks;

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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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CHINA ANNOUNCES PART CANCELLATION OF MOZAMBIQUE’S DEBT

CHINA ANNOUNCES PART CANCELLATION OF MOZAMBIQUE’S DEBT

China forgives part of Mozambique’s debt

During a ceremony in Maputo, where Mozambique’s Deputy Foreign Minister Nyeleti Mondlane and the Chinese ambassador, Su Jian, signed various economic and technical cooperation agreements, it was announced that the interest on Chinese loans that should have been paid by the end of this …

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DANGOTE CEMENT CONSIDERS ISSUING EURO BONDS

DANGOTE CEMENT CONSIDERS ISSUING EURO BONDS

Dangote Cement is considering issuing Euro bonds in other to raise funds for its short term debts.

According to the Chief Financial Officer (CFO), Brian Egan, Dangote cement is considering issuing Euro bonds or a local debt issue in other to raise funds for its debt.

The company is planning …

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Guinea Bissau reduces debt by 90%

Guinea Bissau reduces debt by 90%

Support from ASLF helps Guinea Bissau reduce debt to Export-Import Bank of China (Exim Bank) by 90%.

The African Legal Support Facility (ALSF) assisted the Guinea Bissau Government during an outstanding debt negotiation with China’s Export-Import Bank (Exim Bank) in Singapore.

This assistance resulted to a series of  settlement and …

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