Africa is one of fastest developing continents in the world. With proactive and business-friendly policies by Governments of African countries, foreign multinational companies and local enterprises are seeing greater opportunities to extend their business footprints and create economic value for their host communities.
African policy makers are beginning to work actively towards improving the ease of doing business within the continent and this is yielding positive returns in the form of greater foreign and local investments. Recent WIMBIZ event is one of many examples where independent business communities are pushing economic reforms and enhancing the continent’s business prospects in the process.
Check $8.5 Billion Africa Investment Announcements in May-June
Poland Invests $50 Millions in Angola Agriculture Business
$120 Million Investment in Building Ghana’s First Wind Energy Plant
ENGIE, a French multinational electricity generation company and eleQtra, a British energy infrastructure development company, have agreed to invest $120 million in construction of 50 MW wind power project in Ghana. This is going to be Ghana’s first ever wind energy programme. Read more.
$55 Million Investment in Solar Photovoltaic Plant in Mozambique
IFC (International Finance Corporation) and CIF (Climate Investment Funds) have agreed to invest $19 million from each to fund photovoltaic plant in Mozambique. Additional $17 million loan has also been announced. Totalling $55 million in Africa Energy industry. Read more.
China To Invest $7 billion in LNG Business in Africa
China growing need for clean energy has led it to invest $7 billion in floating Liquefied Natural Gas (LNG) projects across Africa. The move is considered risky as the continent’s gas market remains significantly undeveloped. However, China’s keenness to move away from environmentally degrading coal has encouraged it to invest $4 billion in three FLNG projects situated off the African coast. It is planning a further $3 billion investment in two more projects. Read more.
Haite Proposes $1 billion Investment in Development of Industrial Park in Morocco
Haite, a Chinese company, and Morocco have proposed to develop residential and business park in city Tangiers of Morocco.
The park will be hotspot for hitech industries such as auto manufacturing, aviation spare parts, aerospace, textiles and machinery manufacturing and electronic information. Read more.
CDC anf IFC invest $35 Million for Modern Warehouse in Kenya
CDC group of UK and World Bank’s International Finance Cooperation have joined hands to develop modern warehouse across Kenya. This will help in regions where lack of connectivity, logistic infrastructures and world class warehouse facilities obstruct business environment. Read more.
Nipco Plc Offers $16 million share Buy in Mobil Oil Nigeria
Nigerian downstream operator, NipcoPlc, said it was launching a N4.84 billion ($16 million) share offer to enable raise its stake in Mobil Oil Nigeria to 70 percent. Nipco reportedly acquired 60 percent of Mobil Oil Nigeria from U.S oil giant Exxon Mobil in 2016, raising its stake in the firm to 66.87 percent. Nipco however revealed that it is compelled to increase its holdings in Mobil Oil to 70 percent in accordance with Nigerian takeover regulations. Read more.
EABL Accounced $145 Million Brewery in Kisumu, Kenya
East Africa Breweries, popularly known as EABL, is set to build a Sh15 billion ($145 million) brewery in Kisumu, Kenya. The new plant will be state-of-the-art and would create jobs for about 110,000 people. It will also double demand for sorghum to 40,000 tonnes annually and empower over 4000 local farmers. Read more.
CIF Has Approved $23.25 Million Fund to Liberia
Liberia, a developing West African country, has received a $23.25 million grant from the Climate Investment Fund (CIF) to enable it transform its renewable energy sector through the development of a 9.8-megawatt power plant.The plant to be constructed at Gbedin Falls on the Mano River in Nimba County will provide low-cost, sustainable and reliable electricity across Liberia. Read more.
TIGO Invests $100 Million in It’s Infrastructure
Tanzania’s telecommunication firm TIGO has invested $100 million in its infrastructure to enhance its 2G, 3G and 4G networks. TIGO, which is the second largest telecoms operator in Tanzania with a customer base of 10 million people, expects the latest investment and infrastructure upgrade to transform broadband experience for its customers. Read more.