A new report released by Ernst and Young, EY, a global professional services firm, has indicated that Foreign Direct Investment, FDI, promoted more than 730 projects across the continent in 2022, injecting $194 billion in financing while creating 154,000 jobs. The report also reveals that Nigeria led other West African countries in the FDI flows, […]
Tag: Investment
The Liberian Senate has unanimously concurred with the House of Representatives in passing an investment incentive bill valued at US$22 million between the Republic of Liberia and Gboni Enterprises Incorporated. Gboni Enterprises Incorporated is a Liberian-owned investment. The move has created a significant step for the construction of a modern petroleum storage terminal here to […]
The minister quoted recent reports by audit firm KPMG which reported that mining’s contribution to Nigeria’s GDP rose from 0.3 per cent to 0.85 per cent last year, indicating 0.63 per cent year-on-year growth. Cutting red tape which slows business transactions and improving the security of mining operations are among fresh commitments unfolded by Nigeria’s […]
Tunis/Tunisia — Reported investments in all sectors fell slightly by 3.2% between 2022 and 2023 (first 10 months), to TND 4,905.9 million, according to data published on Tuesday by the Tunisian Investment Authority (TIA). These investments led to the creation of 65,726 jobs, up 0.4% at the end of October 2023 in terms of job […]
The CEO of Rwanda Development Board (RDB), Francis Gatare, has called upon investors to build a multi-star hotel on Mount Rebero in Kigali City. He made the case for the luxury hotel, on November 25, 2023, after participating in Umuganda where 1,000 trees were planted on the hill in partnership with youth and Global Citizen–an […]
Abuja, Nigeria — Nigerian President Bola Tinubu is welcoming new trade agreements with Germany, including a deal that calls for the West African nation to export liquid natural gas. The signing Tuesday of two memoranda of understanding between Nigerian companies and their German counterparts was the latest in a flurry of investment deals clinched by […]
President Tinubu said that German investment was needed in critical growth-enabling industries in energy, transportation, and electric power generation, transmission and distribution. President Bola Tinubu has called for German investment in critical sectors of the Nigerian economy such as power and rail transportation. A statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, […]
Zanzibar — ZANZIBAR:THE government has encouraged the Saudi Arabia private sector to explore and utilise the investment opportunities available in both Zanzibar and Tanzania mainland. The call was made at the Saudi-Tanzania roundtable meeting on the sidelines of the recent ‘Saudi-African summit,’ which was attended by President Samia Suluhu Hassan. Tanzania Ambassador in Saudi Arabia, […]
Abuja, Nigeria — Nigerian experts are hopeful that deals reached last week with Saudi Arabia will boost local oil production and help grow the economy. The deals included a pledge by Saudi officials to fix Nigeria’s four broken oil refineries, which haven’t worked in years, forcing Africa’s second-largest oil producer to import all of its […]
Nairobi — The government now says President William Ruto’s foreign trips have earned the country Sh2 trillion in investment opportunities and grants. Speaking during a press conference on Wednesday, government spokesman Isaac Mwaura stated that this was as a result of the various international deals President Ruto has signed since assuming office in September last […]
Nairobi — The Kenya Airports Authority (KAA) has blamed the embarrassing roof leaks at the Jomo Kenyatta International Airport (JKIA to decade-long under-investment. In a statement, the authority’s acting Managing Director Henry Ogoye stated that the government is currently funding the facility expansion and upgrade. “Over the last ten years, JKIA has suffered inadequate facility […]
President Bola Tinubu, on Monday night, in Mecca, Saudi Arabia, advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria. According to a statement by presidential spokesman, Ajuri Ngelale, this development was the outcome of […]
President Bola Tinubu has assured potential investors that their investments are safe in Nigeria. Speaking at the Saudi-Africa Summit in Riyadh, Saudi Arabia yesterday, President Tinubu in a statement by presidential spokesman, Ajuri Ngelale said Nigeria is ready for business while assuring investors of some of the world’s highest returns on investment. The president said […]
The Minister for Science and Technology, Dr. Monica Musenero has asked willing investors to bankroll the latest innovation by Uganda of a drink that cures hangover. Speaking during the inaugural science and technology investors dinner at Kampala Serena Hotel on Friday evening, Dr.Musenero said the drink named Pombe Guard was invented by Ronnie Kalyango and […]
ENL Consortium Nigeria Limited has signed an agreement with Chinese port operator, Lianyungang Port Holding Group Ltd to deepen investment at the Lagos Port Complex, Apapa and boost trade between both countries. ENL Consortium is the operator of Terminals C and D at the Lagos Port Complex Apapa while Lianyungang Port Holding Group Ltd offers […]
Cabinet has welcomed investments in the energy and transport sector, as they are expected to create jobs and assist small business owners in the transport sector. “Cabinet welcomed the R100 million investment by electrical components supplier ACTOM in the expansion of its plant in Pretoria. This builds local capacity in manufacturing of electro-mechanical equipment, as […]
Standard Bank, one of Africa’s biggest banks, has been under fire for its potential involvement in the controversial East African Crude Oil Pipeline project. The bank says the project will not continue the destructive legacy of fossil fuel projects across the continent but will instead be a progressive development. Standard Bank is waiting for further […]
Harare — The World Bank will make sure that Ugandans are not subjected to discrimination in its programs before restarting new funding suspended in August due to an anti-LGBTQ bill, an executive from the bank said. Victoria Kwakwa, the bank’s head for eastern and southern Africa, said that project paperwork from the World Bank will […]