The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it. According to him, the National Pension Funds will be a veritable source of revenue to fund national infrastructure investment, if properly managed. Orji, while …read more →
AFRICAReports
Nigeria to Strengthen Infrastructure Company to Boost Recovery
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The unit of Nigeria Sovereign Investment Authority is looking to raise equity and debt capital in 2021 and go into risk sharing with development finance institutions to boost its insurance guarantee capacity, Chief Executive Officer Chinua Azubike said …read more →
British Emerging Africa Infrastructure Fund Pumps $31mn in Energy Project in Ghana
The British Emerging Africa Infrastructure Fund (EAIF), managed by Ninety One, agreed to grant a 10-year loan worth $31 million to LNG BV, a joint venture between Helios Investment Partners and Gasfin Development, which develops and operates natural gas facilities for developing countries. The credit line will finance the construction of an LNG regasification unit at …read more →
Adesina wants Nigeria, Others to Unlock $1trn Pension Funds
The President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, has called on policymakers in Nigeria and other African countries to unlock over $1 trillion funds locked in pension and insurance assets to bridge the continent’s huge infrastructure deficit. Speaking at the Bloomberg Africa Media Initiative (ABMI) 20 Innovator Chat 2020 yesterday, Adesina said …read more →
We’ll Complete Lagos-Badagry Expressway, Sanwo-Olu Assures
Lagos State Governor, Mr. Babajide Sanwo-Olu, on Friday assured Nigerians that the State Government would complete the ongoing construction of the Lagos-Badagry Expressway. He said his government is committed to the construction of the Lagos-Badagry Expressway, adding that the delay of work on the road was based on the government’s plan to build a first-class …read more →
African Development Bank to Fund Rwanda Coding Academy
The African Development Bank has signed a grant agreement with the Ministry of ICT and Innovation in Rwanda to support the Rwanda Coding Academy, set up to develop top technology talent to drive a booming, innovation-driven digital economy in the East African nation. The Rwanda Coding Academy was established as a proof-of-concept (PoC) model school …read more →
Japaul to Commence Gold Mining in 12 Locations in Nigeria
Japaul Gold and Ventures may soon begin gold mining and refining in the country following its agreement with a Chines company Xiang Hui International Mining Company Nigeria. According to the Group Chairman, Japaul Gold and Ventures Plc, Jegede Paul, the deal involves the Chinese company officials working on its sites in Benue, Taraba, Osun and …read more →
Nigeria Grants Dangote Cement Waiver to Export Products Across Land Borders
Nigeria has granted Dangote Cement Plc, majorly owned by Africa’s richest man, Aliko Dangote to export its products through the land borders to neighbouring countries. Nigeria had in August 2019 closed its land borders with its West African countries neighbours over increase smuggling activities across the borders, stalling export trade through land boarders across the …read more →
East African Bloc Launches Cross-Border Infrastructure Development Strategy
The Inter-Governmental Authority on Development (IGAD) on Monday launched a cross-border infrastructure development strategy to realize inclusive prosperity in the greater horn of African region through seamless movement of goods and services. Workneh Gebeyahu, IGAD executive secretary, said the strategy that is domiciled in the Horn of Africa Initiative (HOAI), aims to develop modern infrastructure …read more →
Nokia Enables Ultra-Fast 5G Services for Vodacom South Africa Customers with 5G Radio
Telecoms equipment vendor Nokia has announced that it is enabling ultra-fast 5G services for Vodacom South Africa’s customers by deploying its 5G radio, core and fixed network solutions across Vodacom’s network. Vodacom is using Nokia’s 2G, 3G, 4G and fibre access networks, as well as 5G fixed wireless access (FWA) and mobile broadband services. Nokia …read more →