Category: African Business
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Zimbabwe’s infrastructure investments save Southern African Development Community millions
Zimbabwe’s infrastructure investments save Southern African Development Community millions, media report Despite facing sanctions, Zimbabwe’s investment in infrastructure, including roads, housing, dams, and power plants, has yielded significant benefits for the region. The modernized Beitbridge Border Post, a key access point on the North-South Corridor connecting Durban to Zambia, DR Congo, and Malawi, has saved…
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Guinea and Russia strengthen cooperation at the municipal level
The Russian Ambassador to Conakry met on August 23 with Guinean participants of the International Municipal BRICS Forum 2024, which will take place on August 27-28 in Moscow. Alexey Popov wished the delegates fruitful work at the Forum and confirmed his willingness to provide all possible assistance in the further development of established contacts. This…
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Oando has acquired a 100% stake in the Nigerian Agip Oil Company from Italian energy giant Eni for $783 million
The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW. This transaction has increased Oando’s total reserves by 98%, from…
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Nigerian Fidelity bank hit with record fine by NDPC for data privacy violations
The Nigeria Data Protection Commission (NDPC) has fined Fidelity Bank 0.1% of its 2023 revenue, amounting to $358,580, for violating data laws during the account opening process, according to the agency’s report. This is the largest fine NDPC has imposed for data breaches, though Fidelity Bank is contesting the decision. The NDPC instructed Fidelity Bank…
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The biggest diamond in over a century is found in Botswana — a whopping 2,492 carats
GABORONE, Botswana (AP) — The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country’s president showed off the fist-sized stone to the world at a viewing ceremony Thursday. The Botswana government says the huge 2,492-carat diamond is the second-biggest ever discovered in a mine. It’s…
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The UN mission in Libya, UNSMIL, has expressed concern “over reports of the mobilisation of forces in Tripoli
Since the Libyan Central Bank, based in Tripoli, is the only internationally recognized bank that benefits from oil exports, the parallel government in the east of the country depends on cooperation to export oil from the rich basins of the Gulf of Sirtre. Due to the current political tensions between Tripoli and Benghazi, in the…
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Senior officials from Africa, Asia, Middle East to visit Russia ASIAEXPO forum
International agricultural forum ASIAEXPO is scheduled to take place in Russia’s Sirius Federal Territory on October 23-25.Participation in ASIAEXPO was confirmed by Gabonese, Cameroonian, Saudi Arabian and Iraqi high-ranking officials, the forum’s director general, Igor Milovanov, told Sputnik. “Last year showed the demand for this forum. It was attended by about 6,000 people. The worth…
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Nairobi to gain additional 140 million liters of water daily
Nairobi to gain additional 140 million liters of water daily, as the Northern Water Collector Tunnel has been completed During a tour of the Gigiri Reservoir and pumping station, Nairobi Governor Johnson Sakaja assured residents that the additional supply will help alleviate chronic water shortages in areas like Eastlands, Kabete, and Lang’ata. “Residents who received…
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Somalia threatens to suspend Ethiopian Airlines flights amid territorial dispute
Somalia has issued a warning to suspend all Ethiopian Airlines flights to its territory due to an ongoing territorial dispute. The dispute escalated after Ethiopia signed an agreement in January 2024 with the separatist region of Somaliland, securing access to 20 kilometers of Somaliland’s coastline for 50 years in exchange for recognizing the territory. Somalia…
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Carlyle Aviation Moves to Ground Air Sénégal Aircraft Over $10 Million Dispute
In a significant legal development, the American aircraft leasing giant Carlyle Aviation has initiated actions to ground four aircraft operated by Air Sénégal, the national airline of Senegal. This move follows a legal filing in the United States, where Carlyle Aviation is seeking nearly $10 million from the airline, citing unpaid leasing fees. A U.S.…
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