Wednesday, July 28Inside Business Africa
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Somalia’s Women and Children are Among the 1.84 Million to Benefit from Improved Healthcare Services

Somalia’s Women and Children are Among the 1.84 Million to Benefit from Improved Healthcare Services

Business, Economy, Health
The World Bank approved the Improving Healthcare Services in Somalia Project, known as “Damal Caafimaad,” which is financed by a US$75 million International Development Assistance (IDA) grant and an additional US$25 million grant from the Global Financing Facility for Women, Children and Adolescents (GFF). This project is the first World Bank investment in Somalia’s health sector in 30 years. The project will deliver essential health and nutrition services and improve health service coverage and quality in some of Somalia’s most disadvantaged areas, including Nugaal (Puntland), Bakool and Bay (South West), Hiraan, and Middle Shebelle (Hirshabelle). Around 10 percent of Somalia’s population, as well as internally displaced persons (IDPs) and nomads in the target regions, will ...
PIDG company, Emerging Africa Infrastructure Fund, lending €25 million to Côte d’Ivoire clean energy hydro-electricity project

PIDG company, Emerging Africa Infrastructure Fund, lending €25 million to Côte d’Ivoire clean energy hydro-electricity project

Business
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) (www.PIDG.org) company, is lending €25 million over 18 years to Ivoire Hydro Energy (IHE) which will build a 44MW hydro electricity generation plant on the Bandama River near the village of Singrobo in Côte d’Ivoire. Financial close is expected in late Q3 2021. The  €174 million project is forecast to take some 36 months to build. Paromita Chatterjee, an Investment Director at EAIF’s managers, Ninety One, says; “The new facility being built at Singrobo is the country’s first hydroelectric development by an independent power producer. The project has seen EAIF and PIDG deliver on three core objectives; mobilising private capital, enabling economic development and contribut...
Oil & Gas veteran Robert Onyejekwe joins African Energy Chamber board

Oil & Gas veteran Robert Onyejekwe joins African Energy Chamber board

Business, Corporate Stories, Oil & Gas
Robert Onyejekwe has joined the African Energy Chamber’s (www.EnergyChamber.org) Advisory Board. Robert will be working with other board members and the Johannesburg based team of the African Energy Chamber to reposition Africa in its quest to access affordable and reliable power for millions of people on the continent. Robert’s decades of experience while at oil service major Schlumberger, will also help in supporting the chamber attract investment into the continents fast changing energy industry. “Our continent, just like other regions globally is experiencing rapid change in the way energy is produced and consumed. Services companies like Schlumberger are at the core of such change and are decisive in the development of Africa’s important oil and gas sector. Robert brings on bo...
African Development Bank Group, Ethiopia, sign $118 million in grant agreements to support agro industrial park, youth employment and Ethiopia-Djibouti power interconnection

African Development Bank Group, Ethiopia, sign $118 million in grant agreements to support agro industrial park, youth employment and Ethiopia-Djibouti power interconnection

Agriculture, Business, Corporate Stories
The African Development Bank Group (www.AfDB.org) and the Government of Ethiopia have signed two separate grant agreements for new projects to boost youth employment and electricity trade between Ethiopia and Djibouti. The grants fall under the Bank Group’s concessional lending window, the African Development Fund, and will go towards the Productivity Enhancement to Support Agro Industrial Parks and Youth Employment Project worth $47 million, and the $71 million Ethiopia-Djibouti Second Power Interconnection Project, which aims to boost electricity trade between Ethiopia and neighbouring Djibouti. The industrial parks and youth project will see the development of irrigation and water management infrastructure around the Integrated Agro-Industrial Parks, offering opportunities for gr...
Offshore Exploration: The Future of Guinea Bissau’s Energy Sector (By Jasser Hammami)

Offshore Exploration: The Future of Guinea Bissau’s Energy Sector (By Jasser Hammami)

Business, Energy, Oil & Gas
The underlying offshore exploration potential of Guinea-Bissau has long been recognized given the country’s functional hydrocarbon system, good potential reserves, and several drillable prospects in a vast shallow water shelf setting. According to the country’s national oil company Petroguin, Guinea-Bissau authorized international businesses to begin prospecting for hydrocarbons in 11 offshore blocks where oil is likely to exist since October last year. In light of this, Energy Capital & Power will host MSGBC Oil, Gas & Power 2021, which will create a national platform for constructive dialogue on natural resource management, investment and initiatives for enhancing the productivity and sustainability of the current power matrix. Offshore construction platform for production...
Audiomack Announces ‘Swahili Radio’ Podcast

Audiomack Announces ‘Swahili Radio’ Podcast

Business, Entertainment
Today, Audiomack (www.Audiomack.com) presents the Swahili Radio podcast, a new show highlighting the musical talents hailing from East Africa. Hosted by certified on-air personality Lil Ommy, also known as the King of Interviews, Swahili Radio will feature live performances, exclusive interviews with the country’s hottest musicians, and much more. Join us every Monday for a new episode and be sure to follow Swahili Radio on Audiomack Tune in to the premiere episode featuring an intimate one-on-one with the multi-award-winning Tanzanian singer Nandy (bit.ly/2V19n8Q). The self-proclaimed African Princess (bit.ly/3hWwsm7) sits down with Lil Ommy on the heels of her latest Taste EP (bit.ly/2UzuGyk) to do a deep dive into her artistry and let listeners into her creative world. ...
CBN to provide affordable finance to rural farmers

CBN to provide affordable finance to rural farmers

Business, Economy
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has assured the apex bank’s collaboration with the National Agriculture Land Development Authority (NALDA) to develop integrated farms across the country, provide affordable and accessible finance to farmers in rural communities in addition to providing jobs for the teeming population. Emefiele noted that NALDA, an integrated farm estate, is expected to serve as an agricultural hub for inhabitants with its wide range of facilities to support farming, processing and packaging plants, storage, clinics, residential area, school, training centres among other facilities. He spoke recently at the inauguration of the first National Agriculture Land Development Authority (NALDA) Integrated Farm Estate in Suduje Daura, Ka...
Nigeria’s crude wobbles as inventories keep volatility high

Nigeria’s crude wobbles as inventories keep volatility high

Business, Economy, Oil & Gas
Selling above $75 dollar per barrel earlier this week, Nigeria’s Bonny Light crude yesterday, dropped to $68 per barrel on the backdrop of rising inventory by the American Petroleum Institute (API). With a record $7 slide in less than two days, API had reported a build in crude oil inventories of 806,000 barrels for the week ending July 16, bringing the total 2021 crude draw to under 50 million barrels. This follows a recent agreement by the Organisation of Oil Exporting Countries (OPEC) and its alliance to boost production monthly by 400, 000 barrels per day. While Nigeria had set a budget benchmark of $57 per barrel for the 2022 budget, and higher crude oil production at 1.88 million barrels per day (bpd), the latest OPEC decision authorised the nation to produce 1.829 mill...
Union, Northern governors bicker over planned sale of Kaduna Textiles

Union, Northern governors bicker over planned sale of Kaduna Textiles

Business, Economy
Irked by the state of the textile industry in the country, officials of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN) have warned the 19 Northern governors against selling the comatose Kaduna Textiles Limited (KTL).The textile union leaders also challenged the Federal Government to be more committed to the revival of the industry by ensuring that every Nigerian patronises locally-made fabrics. They urged President Muhammadu Buhari to lead by example.Besides, the union leaders called for the revival of the Kaduna textile industry and asked the Northern governors to pay the outstanding entitlements, amounting to N687 million, owed laid-off workers.The NUTGTWN President, John Adaji, yesterday, said the laid-off workers had suffered untold hardship follo...
US$31 Million “The Precinct” to Revolutionise the Way Businesses Work and Connect

US$31 Million “The Precinct” to Revolutionise the Way Businesses Work and Connect

Business
Exciting premier mixed-use development in Mauritius, set to become Grand Baie’s most prestigious office address; Futureproof design for business flexibility, combining work, wellness, and social lifestyle; Considered spaces placing well-being and efficiencies at the forefront natural flow of air and lightgreen features to reduce carbon footprintincorporating nature elements Strategic location next to the M2 motorway, at the entrance to Grand Baie; Unrivalled amenities, including a Sky Bar with magnificent views of Grand Baie. The development of The Precinct in Grand Baie, Mauritius, is set to bring a new standard in the way businesses work and connect on the island. Developed by Mauritius based Gateway Real Estate Africa (“GREA”) at an estimated cost of US$ 31 millio...