The African Development Bank and the Global Green Growth Institute (GGGI have launched a report analysing the readiness of seven countries – Morocco, Tunisia, Kenya, Rwanda, Senegal, Gabon and Mozambique – to drive green growth. The joint report was launched on the sidelines of Africa Climate Week, in Libreville, Gabon. It assessed the status and …read more →
AFRICAReports
First Ship Docks at $2bn Lekki Deep Sea Port
The Lekki Deep Sea Port in Lagos has received the first ship at its dock signaling a new era in port decongestion efforts in Nigeria. The Managing Director, Nigeria Ports Authority, Mohammed Bello-Koko, who received the marine vessel “Zhen Hua 28,” a heavy lift carrier, stated that the Lekki Deep Seaport, when operational, would reduce …read more →
Access Bank Promotes 800 Employees as it Transitions to Holdco Structure
Access Bank PLC has announced the promotion of 800 employees following a transparent and robust performance management review in line with global best practices. This announcement comes as the financial giant shores up its transition to a Holding Company (Holdco) starting May 1st, 2022. The Bank’s consistent growth over the years has been due to …read more →
Peer Review: AU Rates Nigeria High in Infrastructure, Agric Revolution
The African Union Development Agency-New Partnership for Africa’s Development (AUDA-NEPAD) says Nigeria recorded tremendous successes in infrastructure development and agricultural revolution during the African Peer Review Mechanism (APRM). Princess Gloria Akobundu, Chief Executive Officer of AUDA-NEPAD, said this at a news conference in Abuja on Thursday. Akobundu said that the country also recorded successes in …read more →
Fitch Says Rising Sovereign Debt Could Hit Ratings in Sub-Saharan Africa
A rise in government debt/GDP would be a potential negative rating action trigger for most sub-Saharan Africa (SSA) sovereigns, particularly those whose ratings are on negative outlook, said Fitch Ratings. “Efforts to contain COVID-19 outbreaks have hurt economic activity, weighing on tax revenues, even as public expenditure pressures have risen with demands for additional healthcare …read more →
Green Hydrogen: The New Energy Frontier in Africa
The 2015 Paris Climate Agreement, which seeks to limit global increase in temperatures to less than 2°C this century, was signed by 195 countries, 33 of which are African. To achieve this ambitious target, significant carbon emission reductions and energy efficient systems are required. As part of the agreement, countries have set out a range …read more →
EGYPS 2022: ‘Natural Gas is the Fuel for Sustainable Development’
Doha — As the global population edges towards the 10 billion mark by 2050 and world GDP more than doubles, natural gas will continue to play a crucial role in alleviating energy poverty, fueling economic growth, expanding prosperity, and contributing to the protection of the environment, according to Mohamed Hamel, the Secretary General of the Gas Exporting Countries …read more →
EU Plans $22.7 billion Transport Network, Other Projects Across Africa
The European Union (EU) is working on a €20 billion ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. Member states, a Bloomberg report disclosed, however, have yet to commit to financing the infrastructure plans, according to officials familiar …read more →
With National Policy on 5G, ABSA Sees Opportunity for Economic Growth in Nigeria
Given the success recorded last December in the auction of the two slots in the 3.5GHz spectrum, in preparation for 5G technology rollout in Nigeria, coupled with the commitment of the federal government on 5G rollout this month, Absa, a leading pan-African Corporate and Investment Bank has said it is fully aligned with government’s aspiration …read more →
‘Africa Needs Smarter Investment in Digital Infrastructure’
Infrastructure is widely accepted as a fundamental limitation to growth in Africa. Governments in the region struggle to meet the basic needs of residents, including access to food, education, health, and livelihoods, much less invest in critical, reusable infrastructure that could provide long-term solutions to social problems. Philanthropy alone will not lead to the sustainable …read more →