We are pleased to see Beta Glass accelerating its performance, led through the execution of our business-wide transformation strategy, which commenced in early 2023. We have delivered operational efficiency improvements at our plants in Agbara, Ijebu Ode, and Ughelli, streamlining production and optimizing energy usage. Across the business, we have a clear focus on capital […]
The African Development Bank Group’s Board of Directors has approved up to $184.1 million in financing for the Obelisk solar project in Egypt, which is set to become Africa’s largest solar power plant. The project will feature a 1-gigawatt solar photovoltaic (PV) facility and a 200MWh battery energy storage system, according to the bank’s website. […]
Britain will invest 200 million pounds ($272 million) in the Acorn carbon capture and storage (CCS) project in Scotland, the government said on Thursday, fleshing out details of funding for the technology announced in a spending review on Wednesday. Britain has a climate target to reach net zero emissions by 2050 and has said CCS […]
The US and China have extended the truce in their trade war after two days of talks in London that resulted in a “framework” deal over export restrictions on rare earths and semiconductors. Negotiations to resolve the wider tariff war triggered by Donald Trump in April will continue but the truce settles, for now, growing tension between the two […]
U.S. businessman-philanthropist Bill Gates has called upon African leaders to unite with him in promoting health and development across the continent. He also emphasized that his foundation will collaborate with nations prioritizing the health of their citizens. On Tuesday, the U.S. billionaire announced that the majority of his philanthropic Gates Foundation‘s $200 billion endowment will be […]
The World Bank has pledged $1 billion to help the Democratic Republic of Congo prepare as it prepares for the next phase of what could be the world’s biggest hydropower project. The bank plans to commit $250 million toward Inga III, a portion of the Grand Inga hydropower complex. The project builds on earlier phases, […]
Takehiko Matsuo, vice-minister for International Affairs at Japan’s Ministry of Economy, Trade and Industry, said the country’s emergence from three decades of deflation has renewed the private sector’s appetite for risk. “Now the mindset of Japanese business leaders has changed dramatically and they are now much more proactive about expanding their business globally,” Matsuo said. […]
Africa’s cross-border payment market is set to triple in size over the next decade, reaching $1 trillion by 2035, up from $329 billion projected in 2025, according to a new report by Oui Capital. The Africa-focused venture capital firm disclosed that the surge is being driven by rapid advancements in mobile money, digital wallets, fintech […]
Uganda plans to borrow €500 million ($568 million) from three lenders, including the African Export-Import Bank (Afreximbank), to fund infrastructure development, according to Finance Minister Matia Kasaija. Parliament approved the borrowing plan despite objections from opposition members who raised concerns about the country’s rising debt levels. Of the total amount, €270 million will come from […]
Free Trade Agreements between the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) and Mongolia will be signed in Minsk in late June, Belarusian Deputy Foreign Minister Pavel Utyupin has said. Belarus currently holds the chairmanship of the EAEU, which also includes Armenia, Kazakhstan, Kyrgyzstan, and Russia. Utyupin was quoted in Belarus Segodnya as saying, […]