Afreximbank approves US$70m to finance Beitbridge expansion in Zimbabwe

ZIMBABWE – Pan-African multilateral trade finance institution African Export-Import Bank (Afreximbank) has approved US$70 million to finance the expansion and upgrade of the Beitbridge border post in Zimbabwe to boost intra-Africa trade. The Beitbridge border post between Zimbabwe and South Africa is the busiest border crossing in Southern Africa, with an average of 25,000 people and 500 trucks crossing the border every day. The border post’s upgrade will significantly reduce waiting periods that have hampered and slowed trade across Southern Africa, causing haulage operators to use longer, less efficient alternative…

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Uganda to build 2,700km-long standard gauge railway

UGANDA – The government of Uganda will build its standard gauge railway even if Kenya fails to extend its line to the border town of Malaba, its officials have said. Construction of the long-delayed SGR will now start in the 2022/2023 fiscal year even as the connection with Kenya remains a sticking point. The country’s 271-kilometre-long SGR was part of the Northern Corridor Infrastructure project linking Kenya, Uganda and Rwanda, but has stalled amid political and financial uncertainty. In all, Uganda is now looking at building 2,700km of SGR with…

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AIIM raises US$80m to finance sustainable infrastructure in Sub–Saharan Africa

AFRICA – The African Infrastructure Investment Managers (AIIM) has just boosted its African Infrastructure Investment Fund 3 (AIIF3) with US$80 million to finance sustainable development projects in Africa south of the Sahara. The fund already has numerous assets in several sectors, including green electricity. The US$80 million recently raised by African Infrastructure Investment Managers (AIIM) is intended to fund its African Infrastructure Investment Fund 3 (AIIF3) for infrastructure investments in the power, transport, and digital infrastructure sectors in sub-Saharan Africa. AIIM, which has already mobilised US$400 million for AIIF3 since…

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World Bank approves US$100m for Maputo urban transformation project

MOZAMBIQUE – The World Bank has approved a US$100 million grant from the International Development Association (IDA) in support of Maputo Urban Transformation Project that will finance critical urban infrastructure investments in the city and support the implementation of municipal reforms. “This investment will ultimately contribute to harness the role of Maputo as the country’s economic powerhouse by investing in urban infrastructure and services, while supporting critical reforms to ensure that urbanization in Maputo can contribute to economic growth, poverty reduction, and structural transformation,” noted Idah Z. Pswarayi-Riddihough, World Bank Country Director…

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Nigeria to invest US$519m in power sector to improve generation capacity and distribution efficiency

 NIGERIA – The Federal Government of Nigeria has announced plans to invest N198.28bn (about US$519.69 million) on various capital projects in the power sector in different parts of the country in 2021. The projects will improve the country’s power generation capacity and distribution efficiency which has for a long time remained inefficient, greatly hampering efforts to increase energy access in Nigeria. Due to inefficiencies, Nigeria currently generates between 4,000 megawatts and 5,000MW, although the country’s total installed power generation capacity is about 13,000MW. “Out of the 13,000MW installed capacity in…

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Lydec to allocate US$36m to water management projects in Morocco

MOROCCO – Lydec, a French utility company which responsible for provision of public utilities in the greater Casablanca area has launched a new US$36 million wastewater and rainwater treatment system. The project will involve the construction of water treatment facilities around the National Road No. 1 (RN1) and in the areas of Errahma and Hay Hassani at a cost of 77 million Moroccan dirhams (about US$8.3 million). The works which have already started are divided into four lots for the sewage canalization, as well as three parts for the storm…

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Djibouti launches port regeneration project

DJIBOUTI – The government of Djibouti through the Djibouti Ports and Free Zone Authority (DPFZA) has launched the Port of Djibouti regeneration project to turn the Historical Port of Djibouti into an international business district dubbed the East Africa International Special Business Zone. In a statement, the DPFZA noted that the regeneration project will take place in six phases. The first will see the creation of the International Demonstration Area, a 220,500m2 area that will include an exhibition center and a center of excellence for maritime studies as well as conference…

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American energy company GE wins contract to improve Benin’s electricity infrastructure

BENIN – GE, an American multinational conglomerate popular for its energy business, has won a US$47 million contract to improve Benin’s energy infrastructure, a key step towards improving access to electricity in the country. The US$47 million electricity contract awarded to GE Renewable Energy’s Grid Solutions business will involve the installation of four substations and seven extensions so as to strengthen electricity supply security in Benin. The contract which the West Africa’s nation biggest high-voltage substation contract was been awarded through the Millennium Challenge Corporation (MCC) – a United States…

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French company to build Kenya’s Nairobi-Mau Summit toll highway

KENYA – The much-awaited construction of a toll highway from Nairobi to Mau Summit is set to begin in October next year following the signing of a deal between the Government of Kenya and French firm Vinci. The deal, was signed late last month in France in the presence of Kenya’s President, H.E President Uhuru Kenyatta and his French counterpart, H.E Emmanuel Macron.  According to a statement from Vinci, the financial close and commence of the project will start next year after the completion of an environmental and social impact…

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Infrastructure investor Harith names Sipho Makhubela new CEO

SOUTH AFRICA – Harith General Partners has picked Sipho Makhubela as its Chief Executive Officer with effect from September 1, 2020.  Makhubela appointment follows Tshepo Mahloele’s request to step aside as Harith’s CEO earlier this year after 14 years of successfully developing signature infrastructure projects on the African continent. Mahloele’s notice of resignation became effective on February 29 this year and was followed by a 6-months transition handover period.  Prior to his appointment, Makhubela was Harith’s managing director of investments.  Makhubela is a seasoned investment professional with proven industry leadership…

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