Morocco, Japan sign five-year MoC for promotion of public policies relating to layout and infrastructure

MOROCCO – The government of Morocco has signed a Memorandum of Cooperation with Japan, the first of its kind in the fields of land-use planning, town planning, infrastructure, and investment. According to a press statement, the agreement, set to last five years, will promote the sharing of expertise, capacity building, as well as good practices in the fields of planning and promotion of public policies relating to layout and infrastructure. The cooperation between the two countries prioritizes metropolization, urban resilience, and risk management in cities, as well as digitization and…

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Japan provides US$240m development finance to Egypt for sustainable development

EGYPT – The government of Egypt, through the ministry of international cooperation and finance, has inked an agreement with the Japanese government, represented by the Japanese Embassy in Cairo and Japan International Cooperation Agency (JICA). The deal provides a development finance of US$240 million for Egypt. The accord targets development financing policies in energy and budget support in Egypt, aiming to enhance the green growth and sustainable development as well as alleviating the repercussions of climate change and countering the impact of COVID-19. The agreement was signed by Minister of…

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Japanese Yazaki and Sumitomo to build four plants in Morocco, creating 8300 jobs

MOROCCO – Japanese Corporations Yazaki, which makes car components, and Sumitomo Electric Industries are planning to build four plants in Morocco for a US$103 million investment. These plants will create 8300 jobs and support Morocco’s car industry. The two Japanese groups signed separate agreements with Moroccan authorities in a ceremony chaired by Minister of Industry and Trade Moulay Hafid Elalamy. Under terms of the sealed deal, Yazaki has pledged to invest US$52.2 million for the expansion of its activities in Morocco through the setting up of three new plants in…

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Toshiba Corporation to abandon coal-fired power plants

WORLD – Japan’s multinational conglomerate Toshiba, will stop construction of new coal-fired power plants and shift to renewable energy in a bid to reduce greenhouse gas emissions, a spokeswoman revealed. “We still have ongoing projects, but we have decided to withdraw from building new coal-powered plants,” company spokeswoman Yoko Takagi told AFP. Toshiba, which currently has around 10 coal-fired station projects under way worldwide, is a major global player in the power sector. The company will instead increase investment in renewable energy, including parts for offshore wind-power facilities and research…

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Pfizer, BioNTech Covid-19 vaccine shows 90% efficacy

WORLD – American multinational pharmaceutical corporation Pfizer Inc has said its experimental vaccine was more than 90 percent effective in preventing COVID-19 based on initial data from a large study, a major victory in the fight against a pandemic that has killed over 1 million people, roiled the world’s economy and upended daily life. Pfizer and German partner BioNTech SE are the first drug makers to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns…

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Isuzu East Africa makes a comeback to the Tanzania’s market after a three-year break

TANZANIA – Isuzu East Africa has announced its return to the Tanzanian market after three years of absence in an aim of expanding its footprint in the region, reports The Citizen. The global automotive firm also appointed a subsidiary of the Egyptian firm Al Mansour Auto EA (Tanzania) Ltd – a globally renowned company – as its authorised distributor in the region. “The investment in this market comes at a time when most companies are deferring investments due to the uncertain economic times. This move is proof of the confidence…

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Ghana receives US$7.9m in grant funds from Japan to support completion key development projects

Ghana receives US$7.9m in grant funds from Japan

GHANA – The Government of Ghana has received grants worth US$7.9 million from the Government of Japan to support the completion of key development projects in the country. A report by Ghana Web revealed that the Tema Motorway interchange is among the projects set to benefit from the Japanese funding. The grants reception was attended by Deputy Foreign Affairs and Regional Integration Minister Hon. Charles Owiredu who represented the government of Ghana and His Excellency Mr. Himeno Tsutomu who was present on behalf of Japan. The grants are expected to…

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PayGo Energy partners with Saisan Company to expand to Asia

KENYA – PayGo Energy, a venture backed company founded in Kenya, has received investment from Saisan Company Limited to launch PayGo’s Cylinder Smart Meter across Saisan Gas One retail network. PayGo Energy, a Kenyan startup founded in 2015, main product is called a Cylinder Smart Meter, a patented portable device to help households monitor and manage consumption, and for gas retailers to extend reach and track distribution metric. Located in Tokyo, Saisan is a 75-year-old conglomerate offering various household essentials from gas, electricity and water, to vegetables and furniture. In…

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Japan donates rice mill to Nigeria’s Edo state to boost rice production

NIGERIA – The Japanese Government has donated a rice mill worth over N26m to the Edo State Government, as part of efforts to facilitate rice production in the state. According to the Japanese Ambassador to Nigeria, Yutaka Kikuta, Japanese government-funded project would further enhance farmers’ income and foster socio-economic development of communities in the  state. Kikuta said the project, which was worth over N26m (US$70,650) would provide rice parboiling equipment, hauler, de-husker, de-stoner machine, soaking tanks, steaming tanks, a generator and bagging machine, among others. “The use of the facilities…

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Oil prices jumps by 8% as US producer slash spending and govt promises economic stimulus package

GLOBAL – Oil prices which have been free falling in the past months finally jumped over 8% on Tuesday, bouncing from the biggest dip in nearly 30 years a day earlier. According to a report by Reuters, the possibility of economic stimulus from the Trump administration and the move by U.S. producers to slash spending could have resulted in price appreciation due to increased demand. U.S. President Donald Trump has pledged “major” steps to gird the U.S. economy against the impact of the spreading coronavirus outbreak.  Japan’s government has also…

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