Category Global

IMF Approves $786.2m For Tanzania To Combat Climate Change

THE IMF announced on Thursday that its executive board has approved a funding package for Tanzania amounting to $786.2 million to aid in addressing climate change. Additionally, a separate review has been completed, allowing for the disbursement of $149.4 million…

Ghana Secures $13bn Debt Restructuring Deal

GHANA has reached a preliminary agreement with its bondholders to restructure $13bn in international debt, according to three sources who spoke to Reuters. This follows a recently finalised deal with official creditors. Key agreement details: Bondholders will face a principal haircut…

Afreximbank Signs Deal For EUR210m Port Terminal In Douala

THE African Export-Import Bank (Afreximbank) has signed an indicative term sheet with APD-Cameroon for the development and operation of a new port terminal in Douala, Cameroon, estimated to cost EUR210 million. According to the agreement, the financing will be divided…

Namibia Emerges As Key Oil Exploration Hotspot

NAMIBIA has become a focal point for oil exploration following several significant discoveries along its coastline in recent years. While the country has not yet commenced oil or gas production, major oil companies, including TotalEnergies and Shell, have uncovered reserves estimated at…

Uganda And UAE Sign Pact For New International Airport

UGANDA has entered into an agreement with a business association from the United Arab Emirates (UAE) to construct a new international airport, President Yoweri Museveni’s office announced on Friday. This development marks Uganda’s third international airport and extends the UAE’s…