congo
Africa Guarantee Fund’s $5 Billion Facility to Spur Continental Energy Access
The African Guarantee Fund establishes a $5 billion guarantee facility to accelerate electricity access Initiative supports AfDB and World Bank’s Mission 300 plan to electrify 300 million people in five years Abuja, Nigeria – The African Guarantee Fund has set up a $5 billion guarantee facility to help the African Development Bank (AfDB) expand electricity access across the continent by
Africa’s Energy Compact Targets Electricity Access for 300 Million
$85 billion plan aims to expand power infrastructure across 12 African nations. Regional power pools seen as vital for stability and clean energy integration. Abuja, Nigeria – Regional power pools are set to play a pivotal role in a new initiative to provide electricity to 300 million more Africans within five years. Backed by the African Development Bank (AfDB) and
Inflation, Debt, and Growth: Africa’s Economic Outlook for 2025
Afreximbank projects 4.2% GDP growth for Africa in 2025, driven by agriculture and trade Inflation expected to ease in 2025, but external debt remains a challenge Africa’s economy is gearing up for a rebound in 2025, with GDP growth projected at 4.2%, according to the African Export-Import Bank (Afreximbank). From flourishing agriculture to a booming service sector and the transformative
African Nations Tighten Control Over Mineral Wealth Amid Global Demand
Resource-rich countries introduce laws to claim a greater share of mining profits Investors face regulatory uncertainty as nations push for resource nationalism Abuja, Nigeria – As global demand for Africa’s vast mineral resources surges, several resource-rich countries are asserting greater control over their wealth, passing laws and introducing measures that are unsettling foreign investors.
BEAC Projects Inflation to Ease to 3% by 2025 After Hitting Three-Year High
Sub-regional inflation reached 5.5% in 2022, nearly double the CEMAC threshold Analysts warn potential fuel subsidy cuts could hinder efforts to curb inflation Yaoundé, Cameroon – The Bank of Central African States (BEAC) expects inflationary pressure in the Central African Economic and Monetary Community (CEMAC) region to ease to the 3% threshold by 2025, marking a significant reduction from the
Angola to Sell 4 Gigawatts of Surplus Electricity to Boost Economy by 2027
Angola plans to export surplus electricity to DR Congo, Zambia, and Namibia Regional Interconnection Project backed by €1 billion aims to support mining sectors Luanda, Angola – The Angolan government is set to launch a new initiative by 2027 aimed at diversifying the country’s economy and attracting additional foreign exchange. Central to this strategy is the planned sale of four
Russia to Build Petroleum Pipeline in Republic of Congo
Russian firm ZNGS Prometey to hold a 90% stake in the joint venture Experts urge African nations to approach Russia with caution amid geopolitical tensions Russia has agreed to construct a petroleum pipeline in the Republic of Congo, connecting the western port city of Pointe-Noire to the capital, Brazzaville. The project will be structured as a joint venture, with Russian
Africa CDC Faces $224 Million Shortfall in Funding to Combat Monkeypox Outbreak
Africa CDC identifies a $224 million funding gap to tackle the escalating mpox crisis Coordinated efforts aim to curb virus transmission, bolster preparedness, and prevent spread to unaffected regions Yaoundé, Cameroon – The Africa Centres for Disease Control and Prevention (Africa CDC) has announced that an estimated $245 million is required to address the growing monkeypox (mpox) outbreak across the continent.
UK Commits $35 Million to Launch DR Congo’s New Container Port Project
British International Investment is investing $35 million in DRC deep-water port Aim to establish the DRC as a major commercial hub, creating 85,000 jobs Kinshasa, DR Congo – The United Kingdom, through its development finance and impact investment institution, British International Investment (BII), has pledged up to $35 million for the first phase of a new container port in the Democratic