MasterCard foundation backs COVID-19 vaccine acquisition with US$1.3b

AFRICA – The Mastercard Foundation has announced that it will deploy US$1.3 billion over the next three years in partnership with the Africa Centres for Disease Control and Prevention (Africa CDC) to save the lives and livelihoods of millions of people in Africa and hasten the economic recovery of the continent. The Saving Lives and Livelihoods initiative will acquire vaccines for at least 50 million people, support the delivery of vaccinations to millions more across the continent, lay the groundwork for vaccine manufacturing in Africa through a focus on human capital development, and…

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AUDA-NEPAD and Ecobank Group partnership to launch financing component under the 100,000 MSMEs Initiative

AFRICA – The African Union Development Agency NEPAD (AUDA-NEPAD)) and the Ecobank Group, its strategic partner on the development of the 100,000 Micro, Small and Medium Enterprises (MSMEs) Initiative, are set to launch the financing component as from 27 May 2021.AUDA-NEPAD launched the 100,000 MSMEs Programme to accelerate African economic transformation, provide the needed skills, and build resilience against the economic shock triggered by the global Covid-19 pandemic. The ‘100 000 MSMEs’ initiative seeks to build the capacity of 1,000,000 enterprises in Africa through entrepreneurial and business training to improve access…

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Ethiopian Airlines and African Union partner to implement trusted Travel Pass Test

ETHIOPIA – Ethiopian Airlines has announced partnership with the African Centres for Disease Control & Prevention (Africa CDC) for the implementation of the African Union Trusted Travel Pass to make continental travel easier and safer amidst the Covid -19 pandemic. The Trusted Travel pass program will ensure country regulations regarding Covid-19 travel requirements are met with minimal room for error and hassle to the travelling public. The Ethiopian Airlines‘ customers will now enjoy a hassle-free travel experience with their travel pass helping them verify whether their medical information meets various Covid-19…

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Kenya’s geothermal power producer GDC gets US$5m grant from AU for exploration

KENYA – State-owned Geothermal Development Corporation (GDC) has secured a US$5 million grant from the African Union (AU) for geothermal exploration of the Paka Geothermal Project in Baringo in Rift Valley, Kenya. The move comes after the signing of an agreement for the Geothermal Risk Mitigation Facility (), a risk mitigation facility that was set up in 2012 by the African Union Commission (AUC). According to GDC Managing Director and CEO, Jared Othieno, the funding will go towards the cost of the exploration drilling and is expected to support 40%…

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World Bank readies Covid-19 vaccine funds for 30 African countries

AFRICA – The World Bank is preparing emergency financing to help about 30 African countries access Covid-19 vaccines, the global lender told Reuters, as the continent scrambles to secure doses and start immunising vulnerable groups. Only a few African governments have launched mass vaccination campaigns, whereas some countries in wealthier parts of the world have already administered millions of doses. Many rely on the World Health Organization’s vaccine-sharing scheme COVAX, which delivered its first doses last week with a shipment to Ghana. The World Bank said financing projects were being…

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African Union to set up infrastructure fund for the continent

ETHIOPIA – The African Union is setting up a fund to finance the construction of much-needed roads, railways and power plants on the continent, the body’s infrastructure head said, turning to new sources of cash due to donor fatigue and higher debt levels. The African continent has an estimated annual infrastructure financing deficit of US$60 billion to $90 billion, the AU says, making it hard for the body to advance its goal of integrating the disparate individual markets into a single, free trade area. “Africa is financially starved as far…

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MTN backs AU’s Covid-19 vaccination programme with US$25m donation.

AFRICA – MTN, Africa’s leading mobile network, has announced a donation of US$25 million to support the African Union’s Covid-19 vaccination programme. The donation will help secure up to seven million doses of the Covid-19 vaccine for health workers across the continent, which will contribute to the vaccination initiative of the Africa Centres for Disease Control and Prevention (Africa CDC). “The devastating impact of Covid-19 has been unprecedented and profound. Public and private partnerships are needed if we are to succeed in the fight against the pandemic and restore social and economic norms…

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Kenya receives US$14.5m grant from GMRF for geothermal project

KENYA – The government of Kenya has signed for a US$14.5 million grant from the Geothermal Risk Mitigation Fund (GRMF) for the implementation of the Baringo-Silali geothermal project in Rift Valley. The project is being implemented by the Geothermal Development Corporation (GDC) owned by the Government of Kenya. The US$14.5 million grant agreement was signed between the African Union, represented by the African Union Commission, which is the contracting authority, and the National Treasury of Kenya, which is the beneficiary. The grant from the African Union’s Geothermal Risk Mitigation Fund…

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World’s largest free trade pact, AfCFTA to launch first commercial deal in 2021

AFRICA – The African Union has announced that the first commercial deal of the world’s biggest free-trade pact, the African Continental Free Trade Area (AfCFTA), will be taking off on January 1, 2021. The African Union further revealed that virtual meetings will be used to complete the pending discussions and negotiations with all member states. The free trade agreement, which was signed last year and was supposed to take off on July 1, this year, has been delayed due to the corona virus pandemic that has set back negotiations on…

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