[Column] Ehiedu Iweriebor: Nigerian Economic Recovery through Industrialization and Diversification by Public and Private Sector Synergy
The current economic crisis and recession in Nigeria has brought to the fore what is already known: that the existent Nigerian national economy is not organized for internal self-propulsion and autonomous economic and business activities.
Increased Infrastructure, Labour-Intensive Manufacturing Key to Africa’s Industrial Competitiveness - Afreximbank President
Labour was competitive in Africa but was not a tradable asset, the President noted, adding, “at this stage, it might be better to import fabrics and transform them into garments or to produce and assemble other labour-intensive light-manufacturing goods rather than processing raw materials in a way that may not enable Africa to compete globally”.
IFC, a member of the World Bank Group, today launched the Lighting Africa program for Nigeria.
NEXIM signs agreement for US$302,000 financial grant under the Nigerian Technical Cooperation Fund managed by African Development Bank
The efforts of the Nigerian Export-Import Bank (NEXIM Bank) to facilitate the establishment of a regional maritime company, The Sealink Project, has received a fresh boost with the signing of a financial grant with the African Development Bank (AfDB) for US$302, 000 under the aegis of the Nigerian Technical Cooperation Fund (NTCF).
IFC, a member of the World Bank Group, announced an agreement to provide a $20 million convertible loan to AIICO Insurance Plc, to support its expansion activities across Nigeria.
The newly appointed ED/CE of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo, paid a courtesy call to the Managing D/CEO of the Nigerian Export-Import Bank (NEXIM) at the Headquarters of the Bank in Abuja, to discuss areas of possible collaboration and synergy.
Dakar-based leasing company Locafrique Senegal is the beneficiary of a 25 million Euro dual tranche credit facility arranged by the African Export-Import Bank (Afreximbank) aimed at increasing support to the Senegalese agricultural sector.
The U.S. Trade and Development Agency awarded two grants to support the development of hydropower in Tanzania and Rwanda. These activities build upon USTDA’s long history of connecting U.S. industry to priority clean energy projects in sub-Saharan Africa. They also support the goals of Power Africa, a U.S. government-led initiative to increase electricity access across the continent.
Bharti Airtel, a leading telecommunications services provider with over 300 million customers in operations in 20 countries across Africa and Asia will offer mentorship programmes to the Good Samaritan Orphans and Destitute Centre in Kayole’s Soweto.
[Kenya] Standard Bank Group helps arrange €625 million finance package to build Africa's largest wind farm
The Lake Turkana Wind Power will build a 310 Megawatt (MW) wind farm in north-western Kenya with the help of Standard Bank Group and 11 other financiers, including Nedbank, the African Development Bank and the European Investment Bank.