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Construction Begins on $700M New Airport for Rwanda

The foundation stone for Rwanda's Burgesera International Airport was laid into place on August 9 by the country's President Kagame.

Stanford Graduate School and De Beers Partner on Entrepreneur Education

The Stanford Graduate School of Business just announced a new three-year partnersnip with De Beers Group to empower young entrepreneurs and owners of established businesses in Botswana, Namibia, and South Africa through two new educational programs launching in 2018.

Zambia Receives Grant from USTDA for Windpower Feasibility Study

Zambia has been approved for a feasibility study for a 130 MW windpower project, courtesy of a grant from the U.S. Trade and Development Agency.

Central Bank of Nigeria Kicks In $364M to Sustain Foreign Exchange Liquidity

The Central Bank of Nigeria (CBN) stepped into the Inter-Bank Foreign Exchange Market on August 15 with a $364 million capital injection, to sustain liquidity in the market.

African Hospitality Sector To Expand and Profit from Foreign Travel and Investments

A new analysis from PwC of South Africa says Africa's hospitality sector, especially in its emerging markets, has the potential for high profits thanks to increasing foreign investment and a related growth in the number of foreign travelers coming to the continent.

Angonix Becomes Third Largest African IXP

Luanda, Angola based Angonix (www.Angonix.net), founded only two years ago, is now the third largest African IXP, with peak traffic recorded as of July 2017 at 10.8 Gbps. The rapid growth of the IXP supplier demonstrates both how open the opportunity is for digital enterprises and specifically the competitive nature of Angonix itself.

Report on Africa Airline Seat Capacity Shows Major Drop

According to a report from Valencia, Spain, based ForwardKeys on airline capacity in Africa, Lagos, Nigeria in particular is showing a significant seat capacity decline in 2017. According to a spokesperson from AviaDev, a major airline route development conference in Africa, this comes directly from the difficulty in bringing revenues back out of the country in 2016.

New Beverage Plant in Angola Secures Approval, Eventually to Provide 400 Jobs

Grupo Sun Ocean Lda, a new company formed by Embasa (Equatorial Guinea), Sun Ocean Holdings Ltd. of Angola, and QG African Infrastructure 1 LP have received formal approval to proceed with their project to produce, package and distribute juice, water and wine with significant capacity to contribute to positive economic and social impacts in Angola.

International Monetary Fund Upgrades Economic Forecasts for Botswana

The International Monetary Fund completed its Article IV consultation with the country of Botswana at the end of July. Based on improvements in diamond sales and other factors, the IMF has upgraded its near-term economic forecasts for the country. It has also recommended specific actions for the country to consider going forward.

Bank of Ghana Closes Down UT Bank and Capital Bank

News broke yesterday that the Bank of Ghana has finally pulled the licenses of two regional banks that were already in trouble for some time.

U.S. Funds Feasibility Study for New Run-of-River Hydro Power in Kenya

The U.S. Trade and Development Agency has released a grant to a Kenyan enterprise to conduct a feasibility study for development of run-of-river hydroelectric sites in the African country. The feasibility study work will be conducted by Denver-based Knight Piésold.

LUX Ile des Deux Cocos Converts to Full Solar Power

Mauritius-based LUX* Resorts & Hotels has replaced its previous diesel-based power generation with a bank of 130 solar panels and batteries, to provide full power generation for its Ile des Deux Cocos, off-grid SE Mauritius (www.IleDesDeuxCocos.com/fr) project.

First Utility-Scale Solar Project in Lesotho Receives Business Case Grant

NEO I SPV Pty Ltd., a subsidiary of OnePower Lesotho Pty Ltd., was granted US $695,500 to prepare a solid business case for the development of the winning project of the 2016 Lesotho 20 MW solar PV tender, foreseen to become the first utility-scale solar PV project in Lesotho.

Ghana's Tema Shipyard to Undergo Major Mandatory Renovation

Ghana has ordered the mandatory and immediate upgrade of Tema Shipyard, critical both for the maritime industry and the country's energy sector.

Africa Hall Renovation Project Board Meets For First Time

The much-needed upgrade of Africa Hall, the Addis Ababa-based headquarters for the United Nations Economic Commission for Africa (ECA), took a major step forward on August 10th, when members of the new advisory board for the Africa Hall Renovation Project met for the first time.

Tatu City Development Proceeding Ahead of Schedule

Just 24 kilometers away from Nairobi's city center, Tatu City, Kenya, one of the most ambitious real estate projects anywhere in the world, is very quietly exceeding expectations and beating schedules.

World Food Programme to Distribute 5,000 Tons of Nigeria Rice to NE Nigeria

The Government of Nigeria has supplied the United Nations World Food Programme (WFP) with 5,000 metric tons of rice, as part of a more structured means of distributing food for nearly half-a-million internally displaced people in the the conflict-damaged and famine-plagued northeast region of the country.

Reflections On The Importance of Investing in Youth in Africa

The theme of this year's African Union Decentralization Day celebrated on August 10 was "Youth Participation". With 63 percent of Africa's overall population below the age of 25, getting youth involved in all aspects of society is critical to the continent's growth and health.

Italy Provide EUR 2M to Help Refugees in Ethiopia

To support the cause and challenge of refugees in Ethiopia, the government of Italy has stepped up by providing a 2 million euro grant through the Fund for Africa.

Mitsubishi Hitachi Power Systems to Upgrade Cairo North Power Station

Cairo Electricity Production Company (CEPC), a subsidiary of the Egyptian Electricity Holding Company (EEHC) has signed a contract with Japan's Mitsubishi Hitachi Power Systems, Ltd. (MHPS) to upgrade the Cairo North Combined Cycle Power Station Module I.

New Africa Infrastructure Fund Forms With Initial Commitments of US $550M

A. P. Moller Capital (www.APMoller.com) of Copenhagen, Denmark, is partnering with PensionDanmark, PKA and Lægernes Pension to form the first of a new series of funds focusing on infrastructure investments in emerging markets. The first of these, one focused on Africa, was just announced by the investment group.

Tanzania Women of Achievement Launch Twaa Mentorship Portal and App

Twaa Mentorship (http://TWA.or.tz), a new online portal and mobile app aimed at providing mentorship and learning resources on the go for girls and women in Africa, was just launched by Tanzania Women of Achievement (TWA).

Mpame Bridge Project in South Africa To Transform Way of Life for Many

The R10-million Mpame bridge project under construction in South Africa is expected to make a major difference in the business and personal lives of many in the Mbashe municipality. The Minister of Cooperative Governance and Traditional Affairs (CoGTA), honourable Des van Rooyen will be visiting the region to determine progress on the project on August 15.

Nigeria's Ambitious "The Arena" Trade Fair Project to Begin Construction Soon

"The Arena" a N3.6 billion business and development park, is expected to begin construction soon in Abuja. When complete, it will have the ability to host international trade fairs with as many as 10,000 vendors.

Africargroup Now Offers Car Classifieds in 10 Local Languages

Africar Group, the largest car classifieds platform in Africa, is now available in 10 local languages on the markets where it operates.