The African Legal Support Facility gets US$7.7m grant from Netherlands to fund work in low-income countries

AFRICA – The Netherlands Ministry for Trade and Development Cooperation is extending a €6 million (US$7.2 million) grant to the African Legal Support Facility (ALSF), to support the ALSF’s work providing legal and technical services to low-income countries to give them more clout in commercial dealings. The funding will be disbursed over a three-year period. ALSF Director Stephen Karangizi thanked the Netherlands, a shareholder of the African Development Bank, for its strong support over the years. “The assistance will help the ALSF to better respond to the impacts of COVID-19…

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China tops Nigeria’s 6 month import list, accounts for 31% of value of Q3 imports

NIGERIA – Nigeria’s imports from China in the second and third quarter of 2019, (April to September) stood at US$6.08 billion (N2.2tn); data obtained from the National Bureau of Statistics has shown. The country imported Chinese goods worth US$2.82 billion (N1.02tn) in the second quarter, representing 25.47 per cent of total imports and in the third quarter, imported Chinese goods valued at US$3.37 billion (N1.22tn) representing 31.34 per cent of total imports. Imports from the United States of America were valued at US$1.17 billion (N422.1bn), representing 10.53 per cent of…

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Japan’s Mitsubishi wins bid to buy Dutch power firm Eneco

NETHERLANDS – Dutch energy company, Eneco has revealed that a group led by Japan’s Mitsubishi Corp are the winners of the bid to buy the company in a deal valuing the Dutch energy firm at 4.1 billion euros (US$4.52 billion). Eneco, a company owned by 44 Dutch municipalities and with a strong focus on renewable energy, said it had been swayed by Mitsubishi’s plans to allow the company to continue its strategy and retain its corporate identity. The deal, backed by Eneco’s boards and a committee representing shareholders, will be…

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The Dutch Fund for Climate and Development opens for business, seeks to raise US$552m

NETHERLANDS – The Dutch Fund for Climate and Development (DFCD), a fund allows for investments in projects aimed at climate adaptation and prevention in developing countries, has officially been launched.  “Today’s launch means that the DFCD is officially open for business,” said Linda Broekhuizen, Chief Investment Officer at FMO.  “The consortium is keen to connect with innovative entrepreneurs with climate-related businesses and with private investors keen to mobilize much-needed funding from the private sector to join us in our mission to create a more climate-resilient world.” DFCD is a direct…

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UK, France, Netherlands commit US$350m in support of Africa’s solar energy

Tunisia to join International Solar Alliance

AFRICA – France, The Netherlands and the United Kingdom have committed to invest US$350 million in solar energy and electricity storage in Africa, Afrik21 reported in September this year. The strategic investment comes at a time when Africa is relying on renewable energy to provide access to electricity for its population. Countries in sub-Saharan Africa will benefit from the new funds to improve electricity supply. Of the three countries, the United Kingdom is the greatest financier of the US$350 million commitment. The Dutch Government plans to invest $44 million to…

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Netherlands fintech firm PayU launches operations in Kenya

KENYA – PayU, a Netherland based fintech company that provides payment technology to online merchants, has launched its operation in Kenya as it seeks to tap on the growing economy in the region. According to Corrie Bakker, Head of Strategy & Business Development, PayU Africa, the firm’s entry into the East African country was driven by the robust growth of the economy within the region. “Kenya is a powerful and growing market, ideally suited for investment and expansion for high velocity merchants. “With our global, long-standing reputation, and local presence…

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