Wednesday, November 21, 2018
French company VINCI Construction, in a joint venture with Andritz Hydro, has won a contract worth €284m to build the Abdelmoumen pumped storage hydroelectric plant (PSP) located 70km from Agadir in Morocco. The turnkey project is part of a plan...
Investment company, Teleology Holdings has finalised its takeover of 9mobile with payment of $50 million in fulfilment of the terms for the acquisition of the telecommunications company. Teleology has detailed a plan of action that will guide its rapid overhaul...
Wala, a Cape Town-based blockchain start-up, is gearing up to roll out zero-fee banking services to the unbanked and underbanked in Uganda. Founded by a pair of Americans, the company has partnered with a Ugandan microfinance institution to enable customers...
Zimbabwe is soon going to benefit from a US $2bn solar financing arrangement availed by the Government of India to several African countries. Vice President, General Constantino Chiwenga, met India’s President Mr Ram Nath Kovind as part of discussions on...
South African state owned utilty Eskom Holdings SOC Ltd has signed a Power Purchase Agreement, PPA with Building Energy for the construction of the 147 MW wind farm in Roggeveld and a 4.7 MW mini hydroelectric plant in Free State which will see...
Although Africa has recorded strong economic growth in recent years, and will continue to do so this year, its gains will remain fleeting until it undergoes a long-awaited transition away from commodity exports and toward manufacturing. That, in turn,...
JOHANNESBURG, Feb 5 (Reuters) - South Africa’s Public Investment Corporation (PIC), Africa’s biggest investment fund, said on Monday it had given cash-strapped state power firm Eskom a 5 billion rand ($416 million) loan to fund the utility’s operations in...
A privately-owned Nigerian producer of building materials, Ibeto Cement Co. Ltd, has signed a deal to get $850 million in financing from Milost Global Inc, a New York-based private equity firm. According to Bloomberg, Milost will provide $500 million in equity and $350 million as debt to...
The Federal Government of Nigeria is currently seeking a loan of about US $40bn to US $46bn to complete some ongoing rail projects and embark on new ones. This is according to Transportation Minister Rotimi Amaechi. “I think the rail sector is doing...
The Zimbabwe Power Company (ZPC) has began a busy seven-day test run for unit number 8 of the Kariba South, the second generator in the extension project. The main aim of the exercise is to test performance and functionality of the 8th...
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