Why has Kenya president obscured details of $3.8 billion railway contract with China?
As you are aware, in May 2014, the government of Kenya signed a $3.8 billion contract with China Roads and Bridges Corporation (CRBC) for the construction of the standard gauge railway from Mombasa to Nairobi and on to Naivasha. According to news reports, 85 per cent of the construction cost...
Public development banks call for new funding for Africa’s post-Covid recovery
A global coalition of public development banks has today (Wednesday) called for urgent mobilisation of resources for Africa’s post-Covid 19 recovery. The banks also committed to deepening cooperation to boost investment opportunities across the continent. Participants in a meeting hosted by the African Development Bank, discussed joint actions that could...
South Africa’s largest fund administrator goes live with Temenos
Banking software company Temenos has today (Tuesday May 11) announced that South Africa’s largest third-party administrator, Curo Fund Services, has gone live with Temenos Multifonds Global Accounting platform, completing the first phase migration of funds from its five legacy systems to a single instance of Temenos’ award-winning funds administration platform....
Trump-shaped hot potato that’s turning Facebook into a failed digital ‘country’
In 2020, Facebook appointed what it refers to as its “Supreme Court” – a quasi-independent council called the Facebook Oversight Board – to review controversial content moderation decisions. This week, the Oversight Board handed down its most important judgment to date: support for the company’s move to ban former US...
Invest Africa, DLA strike best practice in African renewable energy projects deal
Global law firm DLA Piper is partnering with Invest Africa, the leading trade and investment platform for African markets to support the development of Environmental, Social and Governance (ESG) best practice in African renewable energy projects. Clear ESG targets and measurements have become an increasingly important part of fundraising as...
Equatorial Guinea hires a US firm to do a documentary on its oil energy potential
Energy Capital & Power (ECP) has announced a partnership with Equatorial Guinea’s Ministry of Mines and Hydrocarbons for the premier US-Africa Energy Forum 2021. ECP in partnership with Equatorial Guinea’s MMH officially commenced work in-country on the Africa Energy Series: Equatorial Guinea 2021 special investor report and documentary film on...
Cybersecurity: No time for Africa to bury head in sand or pay for skilled foreigners
The cybersecurity skills shortage is worsening in Africa. This is the definitive view of the ESG report ‘The Life and Times of Cybersecurity Professionals 2020′ and that of multiple other surveys, reports and industry analyses. Organisations are facing an unprecedented threat. Cyber-attacks, fraud, phishing, breaches, hacks have increased in sophistication,...
African countries secure $17 billion facility to double food production by 2030
A coalition of multilateral development banks and development partners pledged over $17 billion in financing to improve food security in Africa. These funds were pledged on the final day of a two-day high-level dialogue with the theme ‘Feeding Africa: Leadership to Scale up Successful Innovations’. The event was hosted by...
Mauritius Commercial Bank to loan Senegal $60 million for power generation
Mauritius Commercial Bank Ltd (MCB) will support Senegal’s efforts to improve its electricity supply with a $60 million facility in a syndicated project that cost $140 million to complete MCB is not only a co-mandated lead arranger but has also provided the highest loan commitment. The project finance facility will...
Coronavirus: Trade in Africa recorded $5B financial outflow in first quarter of 2020
Despite tough global financial situation triggered by Covid-19 pandemic, there was massive portfolio outflows from Africa estimated to be above $5 billion in the first quarter of 2020. A new continent-wide survey on trade finance shows that over $3.1 billion left the South African market alone. South Africa is the...
