Month: April 2021

One month until Extreme E’s Ocean X Prix in Senegal

Today marks one month until Extreme E’s second event – the Ocean X Prix – which will take place at Lac Rose in Dakar, Senegal on 29-30 May. Extreme E marks the return of off-road racing to one of its original roots, famous for the gruelling Paris-Dakar Rally which debuted in 1978 but which hasn’t finished in the Senegalese capital since 2007. Alejandro Agag, CEO and Founder of Extreme E, said: “So here we are, just one month until our […]

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NAS and Colossal Africa to Acquire South Africa’s Largest Ground Handler – BidAir Services

Following the acquisition, NAS will also focus on training to develop the knowledge and skills of local South African youth while offering more employment opportunities South Africa’s largest ground handling company, BidAir Services will be changing hands. National Aviation Services (NAS) (www.NAS.aero), Colossal Africa and a consortium comprised of the current executive management team have signed an agreement to acquire BidAir Services from the Bidvest Group. The closing of the acquisition is subject to fulfilling final requirements from the Airports Company […]

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The Mauritius Commercial Bank Ltd (MCB) provides USD 60m funding to fuel Senegal’s national electrification and LNG-use ambitions

The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of Dakar since August 2019 MCB (www.MCB.mu) is facilitating Senegal’s endeavour to improve its national electrification rate through its USD 60 million participation in the syndicated project finance facility of USD 140 million to Karpowership. MCB was not only a co-mandated lead arranger but provided the highest loan commitment. The project finance facility is enabling Karpowership to operate its 235 MW Powership alongside the shores of […]

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IMF / Sub−Saharan Africa Regional Economic Outlook

The sub-Saharan Africa region’s economic outlook will grow by 3.4 percent in 2021, up from 3.1 percent projected in October, and supported by improved exports and commodity prices, along with a recovery in both private consumption and investment. The IMF announced today (Thursday, April 15th) in a press briefing in Washington, DC. _____________________________________________________________________________________________________ “The region’s economy contracted by 1.9 percent in 2020, while this is somewhat less severe, about one percentage points less than we projected in October, you know, […]

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Oil discovery: New discoveries in Angola’s Prolific Basins fuel interest in ongoing bid round

From deep-water commercial fields to onshore plays, Angola boasts a combined depth of resources and existing infrastructure that provide explorers with unparalleled opportunities in the upstream ENI announced on Tuesday 06 April, that it had made a new discovery in Angola. The Italian Major’s latest oil discovery in its Block 15/06 concession offshore Angola underlines why Angola’s Prolific Basins and conducive regulatory framework continue to prove attractive despite stiff competition from new frontiers like Guyana and Suriname. It is also […]

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African presidents and global leaders support bold action on climate change adaptation for Africa

In a historic and united show of solidarity for a continent that contributes only 5% to global emissions, more than 30 heads of state and global leaders committed to prioritize actions that help African countries adapt to the impacts of climate change and “build forward better.” Africa now faces the dual onslaught of climate change – currently estimated at between $7 billion and $15 billion each year – and Covid-19, which has claimed 114,000 lives. The African Development Bank expects […]

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OPINION: African agriculture is ready for a digital revolution

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by Akinwumi Adesina and Patrick Verkooijen Akinwumi Adesina is president of the African Development Bank. Patrick Verkooijen is CEO of the Global Center on Adaptation.    After a dark 2020, a new year has brought new hope. In Africa, where up to 40 million more people were driven into extreme poverty and the continent experienced its first recession in 25 years, a brighter future beckons as the economy is forecast to return to growth this year. Africa now has an opportunity […]

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U.S. Africa Energy Forum 2021 Launches: Promotes U.S. Role as Primary Investor in African Energy

photo Bigstock

The multi-day forum unites U.S. and African policymakers, energy executives and industry leaders to create new linkages and foster discussions The U.S. Africa Energy Forum 2021 – organized by Africa Oil & Power, in partnership with the African Energy Chamber’s U.S.-Africa Committee – will foster alignment between U.S. and African governments’ energy policies and highlight African oil, gas, power and renewable projects across the energy value chain for U.S. investors; the multi-day forum unites U.S. and African policymakers, energy executives […]

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