A group of global development banks announced an $80 billion commitment to invest in African economies on Monday, following on the closely watched weekend G7 Summit in the United Kingdom. The funding will come from the development banks of the G7 nations, along with the private-sector branch of the African…
By Zandre Campos As Angola seeks to diversify its economy, one of the key sectors that continues to grow is infrastructure development. The country has continued to strengthen its mutually beneficial relationships with allies, particularly China, which has invested in Angola’s infrastructure since the two countries established diplomatic relations in…
Angolan President João Lourenço wrapped up a visit to Beijing Wednesday, where he met with President Xi Jinping and other government leaders as well as members of the business community. Their talks led to a new USD$2 billion credit agreement for infrastructure funded through China Development Bank, according to Angola’s official…
President John Magufuli of Tanzania has ordered the arrest of a ferry captain who was not aboard when it capsized on Lake Victoria Thursday, killing at least 224 people. Magufuli, in a televised address, told Tanzanians that the captain of the MV Nyerere left an untrained pilot at the helm…
There are at least 40 survivors following a ferry accident in Tanzania, but authorities fear some 200 people may have died when the boat capsized on Lake Victoria about 2 p.m. Thursday. The MV Nyerere was headed from Bugolora on Ukerewe to Ukora Island when it sank, according to police…
President Uhuru Kenyatta of Kenya met with United States President Donald Trump at the White House in Washington on Monday, in a visit focused on boosting trade and continued security cooperation. “We’ve had strong relations that stretch back – all the way back to our own independence. And we are…
Chinese officials have again denied using lasers directed at United States military pilots, a claim that first surfaced in Djibouti in April but has now reemerged in the South China Sea. Some 20 incidents were recorded since September of last year, a U.S. military official tells CNN, with the most…
Authorities in the United States have filed a formal complaint with China over the reported use of lasers directed at U.S. pilots in Djibouti, where both countries have military bases near each other. Four laser incidents occurred over the last several weeks at Djibouti, U.S. military officials said. Three involved…
Ghanaian President Nana Akufo Addo will meet Wednesday with Chancellor Angela Merkel in Germany, where he is finishing up a 10-day tour that also took him to Togo and the United States. The two are expected to discuss bilateral relations with an emphasis on economic partnership. Ghana is one of…
Leaders of the East African Community (EAC) nations continued their focus on infrastructure development and – for the first time – held a retreat on health sector financing and development, as part of a summit hosted by President Yoweri Museveni of Uganda. The president, with his long advocacy of African…
The official death toll remained at 16, but authorities in Mozambique say there may still be victims buried beneath a mountain of trash that collapsed on people and their homes near Maputo. Another six people were injured and at least seven homes were destroyed in the Hulene neighborhood when the…
Electricity has been restored, water supply is intact and officials on Mauritius have identified roads and drainage systems needing repair because of Cyclone Berguitta – but food supply remains a problem in the short term. Heavy rainfall impacted farmers and about 75 percent of local vegetable production, said Mahen Kumar…
Infrastructure investment remains at the core of African economic development, says Akinwumi Adesina, president of African Development Bank (AfDB), as the bank rolls out its 2018 African Economic Outlook. “Infrastructure, when well managed, provides the financial resources to do everything else,” said Adesina, speaking from the bank’s headquarters in Abidjan, Côte…
The International Monetary Fund wrapped up a visit to Benin this week, with a generally favorable assessment of the country’s economic progress despite the need for improvement on reducing poverty. Norbert Toé, the IMF Mission Chief for Benin, led the team in Cotonou to conduct the first review of Benin’s…
The preview of a McKinsey & Company report on Chinese investment in Africa is making a few headlines, but full details on “Dance of the Lions and Dragons” won’t be released until the upcoming World Economic Forum (WEF) in Asia. What McKinsey did share at a WEF event in Durban,…