Mozambican President Filipe Nyusi has sacked four ministers, including those with the foreign affairs and energy portfolios, his office said late on Tuesday, without giving a reason.
German President Frank-Walter Steinmeier signed a multi-million dollar partnership with Ghana on his first trip to Africa since taking office. Germany hopes the accord might help curb migration to Europe.
Côte d’Ivoire will boost its electricity production through a 44-megawatt hydroelectric power project supported with a €50 million African Development Bank financing loan, approved on in Abidjan.
Located at about 148 km north of Abidjan, the Singrobo-Ahouaty Hydropower Plant Project, to be commissioned in 2021, will support the thermal production of electricity during periods of high demand as well as diversify the country’s energy mix.
Telecom firm MTN Ghana is to receive over $100 million worth of fresh capital to grow the business. It follows the signing of a landmark loan syndicated agreement with nine commercial banks in the Ghana on Thursday. The transaction which was oversubscribed is being led by Ecobank Ghana.
The nine Banks are Ecobank, Barclays Bank, Societie Generale, Stanbic Bank, Fidelity Bank, GCB Bank, Zenith Bank Standard Chartered Bank GT Bank. This is the second time MTN is raising such funds after a similar one in 2012 which saw the telecom firm raising 300 million Dollars. Chief Financial Officer and Acting CEO of MTN Ghana Modupe Kadri is hopeful the loan will support MTN’s worki
Zimbabwe has taken steps towards ending its economic isolation in its first budget since the end of Robert Mugabe's 37-year authoritarian rule.
Finance Minister Patrick Chinamasa announced a package of measures aimed at wooing international investors, including new curbs on laws that require firms to be 51% locally owned.
