Friday, November 22African Digital Business Magazine

Tag: bank

22Jul By AfricaBusiness.comNo Comments
African News, Algeria News, Egypt News, Ethiopia News, Mauritius News, Nigeria News, South Africa News, Zambia News

Africa to gear up for more meaningful engagement with China

  The partnership with China should aim to boost Africa's overall capacity, competitiveness and trade in a way that supports African development. African nations must use the Forum on China-Africa Cooperation to complement the continent's regional institutions and policy agenda. This is according to a report by Standard Bank Group economists Jeremy Stevens and Simon Freemantle ahead of the fifth Forum on China-Africa Cooperation (FOCAC) in Beijing, China, that starts on 19 July 2012. Jeremy Stevens, Standard Bank Group's Beijing-based economist, says that the summit comes at a time when China is distracted by domestic economic challenges and political matters. Meanwhile Africa is now even more reliant on China, in particular Chinese demand for African commodity exports, but even ...
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22Jul By The African Press OrganizationNo Comments
Energy, Gabon News, Green Energy

AfDB supports Gabon renewable energy sector with €57m loan

  LIBREVILLE, Gabon, July 20, 2012/African Press Organization (APO)/ – The Board of Directors of the African Development Bank (AfDB) Group (http://www.afdb.org), through its private sector window, approved on 18 July 2012 in Tunis, a senior loan of €57.5 million to the Coder Hydropower Project for the design, construction and operation of two run-of-river hydro projects in Ngounie Province and North Gabon. The project consists of two run-of-river hydroelectric power plants, a 70 MW plant in the Ngounie Province and a 52MW plant in north Gabon. Logo: http://www.photos.apo-opa.com/plog-content/images/apo/logos/african-development-bank.jpg Despite a high electricity access rate of up to 83 percent, the Gabon electricity sector still faces frequent electricity shortages and blackou...
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19Jul By AfricaBusiness.comNo Comments
African News, South Africa News

AFDB gives ATI support

  By Thandisizwe Mgudlwa More and more support is pouring in; in an attempt to beef up the attraction of investment into Africa. Recently the Board of Directors of the African Development Bank (AfDB) approved a USD15 million equity investment in the African Trade Insurance Agency (ATI) to increase its capital base. A statement reports that this contribution will allow ATI to increase its provision of trade, credit and political risk insurance products that encourage foreign direct investment and trade in Africa. Based in Nairobi, Kenya, ATI was founded in 2001, under an International Treaty by African Member States at the initiative of Common Market for Eastern and Southern Africa and with the technical and financial support of the World Bank. ATI has a mandate to incr...
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16Jul By AfricaBusiness.comNo Comments
African News, Ethiopia News, Kenya News

World Bank Approves New Power Transmission Line between Ethiopia and Kenya to Boost Electricity and Economic Growth in East Africa

  Washington, July 12, 2012 – The World Bank’s Board of Executive Directors today approved the Eastern Electricity Highway Project, which will connect Ethiopia’s electrical grid with Kenya’s, create power- sharing between the two countries, reduce energy costs, promote sustainable and renewable power generation, better protect the region’s environment, and pave the way for more dynamic regional cooperation between the countries of East Africa. The new project marks the first phase of a regional East Africa power integration program which is likely to cost  US$1.3 billion at completion, eventually  benefiting 212 million people living in five countries with a combined GDP of US$107 billion. Together with the Governments of Ethiopia and Kenya, the African Development Bank (AfDB), and ...
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12Jul By AfricaBusiness.comNo Comments
African News, Ghana News

Hon. Yaw Effah-Baafi to address Palm Oil Africa in September on Investment Opportunities in Palm Oil & Rubber Plantations in Ghana

With the changes in the global palm oil industry and growing demand, it is becoming increasingly necessary to look beyond the output from Asia. Palm Oil Africa organized by CMT will open on 05-06 September in Accra to explore and discuss palm oil plantation and investment opportunities in Africa. Accra, Africa (PRWEB) July 10, 2012 Palm Oil Africa on 05-06 September in Accra will see key ministry officials speaking on the investment opportunities in palm oil plantations in Africa. Hon. Yaw Effah-Baafi, Deputy Minister, Ministry of Food & Agriculture, Ghana, will grace the event with a keynote address on Investment Opportunities in Palm Oil & Rubber Plantations in Ghana. This is followed by another ministerial speech from Hon. Dr. Florence Chenoweth, Minister, Ministry of Agricultur...
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12Jul By AfricaBusiness.comNo Comments
African News, Nigeria News

DRIVING MONETISATION OF SERVICES IN A FAST CHANGING MARKET. Nigeria Africa Com 26-27 September 2012

Nigeria Africa Com 26-27 September 2012 Eko Hotel & Suite, Victoria Island, Lagos, Nigeria http://www.comworldseries.com/nigeria Join the debate on twitter using #NigeriaCom Join our group on LinkedIn: Nigeria Com DRIVING MONETISATION OF SERVICES IN A FAST CHANGING MARKET   Nigeria Com “is the only forum that brings together all stakeholders in the telecoms industry” as described by attendees in 2011. This year’s event is taking place at the Eko Hotel in Lagos on the 26-27 of September. Join us for 2 days of strategic and innovative presentations, panel sessions and interactive debates. If you attend Nigeria Com you will meet and network with the entire Nigerian digital ecosystem which now includes; successful OTT players, innovative app developers, popular social me...
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10Jul By Chancy NamadzundaNo Comments
African News, Malawi News

Salesman smiles all the way to the bank in Airtel Yabooka

  By Chancy Namadzunda Airtel Malawi on Tuesday this week conducted the tenth draw of its Yabooka promotion at its headquarters office in Lilongwe where three people won cash prizes worth K250,000 each, among others. Lucky winners from last week’s draw included Dausi Jiya who smiled all the way to the bank immediately after receiving his cheque prize of K250,000 courtesy of Airtel Yabooka. Receiving his prize, Jiya beamed with excitement disclosing that he has always wanted to do business but he his efforts had been constrained due to lack of funds. He then said he would use the prize money as his capital to restart his business. Presenting the cheque, Airtel Malawi’s Research and projects Manager thanked all Airtel subscribers for their unwavering support to the comp...
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9Jul By AfricaBusiness.comNo Comments
Energy, Green Energy

SunEdison Closes 98 MW of Solar Projects in Europe

SunEdison demonstrates its ability to deploy high value solar assets in Europe and to structure complex transactions attracting world class financing partners BELMONT, Calif., July 9, 2012 /PRNewswire/ -- SunEdison, a leading worldwide solar energy services provider and a subsidiary of MEMC Electronic Materials (NYSE: WFR), today provided additional details on the solar project closings announced last week.  The company closed three transactions involving approximately 98 megawatts (MWp) of photovoltaic (PV) power plants in Europe during the second quarter. The transactions include the sale of a 60MWp power plant in Bulgaria to a consortium of investors consisting of an affiliate of First Reserve Energy Infrastructure Fund, Crescent Capital and ACWA Power; a 13 MWp portfolio of projects in...
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7Jul By Amat JENGNo Comments
African News

ACCESS BANK HOLDS AGM WITH TOTAL ASSETS, CONTINGENTS GROW AT D991 MILLION

by Amat JENG Access Bank (Gambia) Ltd on Wednesday held its fifth Annual General Meeting (AGM) at the bank’s head office along Kairaba Avenue. Started with a required quorum, the meeting witnessed the Chairman board of directors of the bank, Bai Mattar Drammeh, declared total assets and contingents to have grown by 7.7% from dalasi 920 million in 2010 to dalasi 991 million as at end December 2011. “The bank implemented turnaround strategies that resulted to operational profit (before credit loss) of GMD3 million compared to a loss of GMD16 million in [the] year 2010. However, the high level of non-performing loan was a challenge and resulted to further provision,” he said. Mr Drammeh pointed to the global economy slow recovery and said fears of recession “remained prevalent with a rash of ...
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