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Thursday, August 6, 2020

Facebook’s Connectivity Investments to grow Africa’s economy by $57 billion in 5 years

By Funmilola Gboteku Lagos, July 22, 2020 American social media conglomerate, Facebook, on Wednesday said that its connectivity investment would grow Africa’s economy by 57 billion dollars in the next five years. Facebook released the findings in its Impact Connectivity Initiatives in Sub-Saharan Africa (SSA),...

Google launches ‘Think with Google’ in sub-Saharan Africa

By Stellamaris Ashinze Lagos, July 21, 2020 Google on Tuesday said it had launched its Sub-Saharan African website- `thinkwithgoogle.com/ssa’- to help marketers on the continent get the locally-relevant insights they need. Asha Patel, Head, Google SMB Marketing, Sub-Saharan Africa made this known in a statement. According to...

Total signs $14.9 bln debt financing for huge Mozambique LNG project

PARIS - French oil major Total has signed a $14.9 billion senior debt financing agreement for its massive liquefied natural gas (LNG) project in Mozambique, the biggest project financing ever in Africa, it said on Friday. The project includes the development of the Golfinho...

South Africa’s foreign direct investment inflows rise to $1.7 bln in Q1

JOHANNESBURG (Reuters) - South Africa’s foreign direct investment (FDI) inflows rose in the first quarter of 2020, to 29.0 billion rand ($1.74 billion) compared to inflows of 10.5 billion rand in the final quarter of last year, the central bank said on Thursday. “South Africa’s...

AfDB to invest $11 million, $28.7m to boost food security in Sahel African states

The Water Mobilisation Project to Enhance Food Security in Maradi, Tahoua and Zinder Regions (PMERSA-MTZ), implemented between 2011 and 2018 in Niger, has sustainably increased agricultural production and productivity and increased food security for nearly nine million residents of this Sahelian country, according to...

South Africa’s economy to shrink 6.9% in 2020 – S&P Global Ratings

JOHANNESBURG (Reuters) - South Africa’s economy will contract by more than initially projected, likely shrinking 6.9% in 2020 compared to an earlier forecast of a 4.5% contraction, ratings agency S&P Global Ratings said on Monday in a report. South Africa has the highest number of...

South Africa’s TFG to raise 3.95 bln rand to cut debt

(Reuters) - The Foschini Group (TFG) said on Tuesday it was looking to raise up to 3.95 billion rand ($235.35 million) through a rights offer to cut its debt, as the South African retailer faces challenges in its core markets. “The board of directors and...

South African Airways creditors approve rescue plan

Alexander Winning JOHANNESBURG (Reuters) - South African Airways (SAA) creditors approved a rescue plan for the struggling airline on Tuesday that requires at least 10 billion rand ($596 million) in new funding, throwing the ball into the government’s court to come up with the cash. State-owned...

US announce $15m for an Innovative Training Center for Supply-Chain Management in Africa

The new Center for Applied Research and Innovation in Supply Chain-Africa (CARISCA) will train researchers and practitioners WASHINGTON D.C., United States of America, July 14, 2020/ -- On July 14, 2020, the U.S. Agency for International Development (USAID) announced $15 million to support a partnership between...

Osinbajo rallies Africa to curb secret ownership of corporate businesses

By Chijioke Okoronkwo Abuja, July 14, 2020 Vice President Yemi Osinbajo says there is need for stakeholders in Africa including governments to collaborate in curbing the adverse effect of secret and beneficial ownership of corporate businesses on economies across the continent. Osinbajo expressed this view...
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