The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has said that piracy and other maritime crimes have reduced drastically in the Nigerian maritime domain, making it safer for investment. Contrary to reports in a section of the media on his responses while defending the Agency’s budget before the Senate …read more →
AFRICAReports
Total’s Egina starts production with TechnipFMC’s subsea systems
Total’s Egina field, located 93 mi (150 km) off Port Harcourt, kicked into production just as 2018 was winding to a close. The start-up of any offshore field is notable, but Egina’s is especially so: The field is estimated to contain reserves of 550 MMbbl. Lying in water depths ranging from 4,593 to 5,740 ft …read more →
How tourism is impacting economic development in Africa
The United Nations World Tourism Organization (UNWTO) has published the latest World Tourism Barometer which covers world tourism rankings. According to the report, international tourist arrivals totalled 1.4 billion (+6 per cent) in 2018, 2 years ahead of expected time according to UNWTO‘s prediction in 2010 that the 1.4 billion mark will be achieved by 2020. Meanwhile, …read more →
AfDB approves additional $2 billion funding for infrastructure projects in East Africa
The African Development Bank (AfDB) and the African Development Fund (ADF) have approved two billion U.S. dollars to fund infrastructure projects in the East African Community (EAC) over the next three years. The funding for the implementation of new and on-going priority infrastructure projects in the region was disclosed by EAC Secretary General Ambassador, Libérat Mfumukeko. This move …read more →
Ethiopia to construct six solar plants, launches tender
The government of Ethiopia is to construct six solar plants with a combined 800 MW for which it has launched a tender for their construction across four states. The nation’s Ministry of Finance said the planned tender would represent a huge expansion of Ethiopia’s Scaling Solar program. They will be developed under a public-private partnership framework …read more →
7 African destinations for private capital investment in infrastructure
The economy of African countries will continue to pull private capital and investments for many more years. This is rationally premised on the state of infrastructure of many economies on the continent. The state of modern infrastructure in these places is less than the global index for strong and emerging. The appalling state of this …read more →