Zimbabwe's economy is set for turnaround following the huge investment package - worth US$8 billion -- unveiled by a Chinese-Angolan joint venture company, China Sonangol.
The uninspiring granite exterior of the London Stock Exchange provided the quiet backdrop for a meeting that would almost have gone unnoticed, if it did not have such a strong bearing on Africa's growth prospects.
United Bank for Africa (UBA) Liberia Limited has signed a $10 million financing deal with Liberia's leading telecom company, Lonestar Limited; a company owned 51% by MTN Communications Limited for a network expansion programme. The deal is one of the biggest single projects financing by a commercial bank in the country and underscores UBA Group's role in project financing across Africa.
Following the success of amnesty programme in the Niger Delta region, a firm, Dag Group Germany/United Kingdom, said it has concluded arrangement to partner with the Federal Government with a view to investing $30 billion on human and infrastructural development in the region.
The strong rally witnessed on the Zimbabwe Stock Exchange in the previous week immediately came under a check during the week ended yesterday, as investors descended on the high yielding investment market to pocket gains reaped in the preceding week that saw the market awarding the highest weekly return to investors since the beginning of the year.
President Paul Kagame yesterday met and held talks with a group of investors who are in the country on a two-day visit aimed at identifying different investment opportunities.
Georgia State chapter of the All Nigeria American Congress (ANAC) is set to draw top Nigerian businessmen and women, lawmakers, and other government functionaries to the state of Georgia, in the United States to its planned 2009 Annual United States-Nigeria Economic Conference scheduled for the Hyatt Regency Hotel, Atlanta Georgia.
The DRC with an estimated population of 65 million has the second largest land area in Sub-Saharan Africa. It is rich in natural and human resources and in need of foreign direct investment to re-build an economy stagnated by prolonged civil war.
UK development financiers CDC Group launched a US$5 million private equity investment in Sierra Leone to provide funding to entrepreneurs.
ZIMBABWE Mining Development Corporation's partners in the exploitation of diamonds in Chiadzwa have invested about US$50 million in plant and machinery over the past two months.
The Minister of Finance and Economic Planning, James Musoni, is back from a three-day visit in Washington DC where he held discussions aimed at increasing American investments in Rwanda with various officials.
UNTIL relatively recently, big oil gave little thought to sub-Saharan Africa beyond the coast of Nigeria and Angola. That's changing rapidly after a significant find off the Atlantic coast of Sierra Leone, where both Anadarko Petroleum and U.K.-based Tullow have exploration licenses, and another strike in Uganda, where Tullow operates.
Though Senegal has developed an extensive and modern telecommunications infrastructure, overall penetration is still low resulting in attractive opportunities for new entrants to establish call centres, computer factories and to develop software.
OUTSPOKEN Roan Member of Parliament (MP) Chishimba Kambwili, who was a vocal opponent of Chinese investors, has been awarded a contract to supply goods and install some equipment at the re-opened Chinese-owned Luanshya Copper Mines.
BRITISH companies will only invest in Zimbabwe when all outstanding issues of the global political agreement are fulfilled, Britain's ambassador to Zimbabwe, Mark Canning, has said. In an interview with the Zimbabwe Independent in Gwanda this week, Canning said although companies were pleased with the gradual stabilisation of the economy since the formation of the inclusive government in February, ...
