African gaming startup Carry1st raises $27M from Bitkraft Ventures and a16z
Image Credits: Carry1st In the coming decades, Africa will be a significant growth market for mobile games, driven by the proliferation of technology adoption among the continent’s youthful population. And as gamers in sub-Saharan Africa increase to more than 180 million in the next five years, per a report, startups such as South Africa-based Carry1st are strategically positioning themselves for […]
Africa Business Forum: U.S., Benin, Niger sign $504 million Regional Investment
he Millennium Challenge Corporation (MCC) took center stage at today’s U.S.-Africa Business Forum as the United States, Benin, and Niger governments signed the first-ever MCC regional program — the $504 million Benin-Niger Regional Transport Compact. Benin’s President Patrice Talon, Niger’s President Mohamed Bazoum, and MCC’s Chief Executive Officer Alice Albright were joined by U.S. Secretary of State Antony […]
Eyeing China, Biden commits billions in investments to support Africa
President Biden tells dozens of African leaders gathered in Washington that US is “all in on Africa’s future,” laying out $55 billions in promised funding and private investment to help the continent in multiple sectors. President Joe Biden has called for a long-term partnership with Africa rooted both in trade and good governance as US […]
Africa must industrialize: 10 key points that African leaders committed to at the just concluded summit on industrialization and economic diversification.
Africa must industrialize: 10 key points that African leaders committed to at the just concluded summit on industrialization and economic diversification. With increasingly growing concern over the slow progress in the implementation of the Industrial Development Decades for Africa (IDDA) I, II and III; the Strategy for the Implementation of the Action Plan for Accelerated […]
NNPC Secures $1.4bn Funding for One Billion Barrels Kolmani Field Development Project
One week after the presidential flag off of the Kolmani drilling, the Nigerian National Petroleum Company Limited (NNPC) yesterday sealed a $1.4 billion external project finance agreement jointly arranged by Standard Chartered Bank UK and the United Bank for Africa for the funding of the Kolmani Integrated Development project. THISDAY learnt that the agreement was […]
Sobogun: Africa Requires $190bn Annual Investments to Achieve Energy Goals
Africa will require about $190 billion worth of investments annually between 2026 and 2030 to meet its energy and climate goals to boost socio-economic prosperity on the continent. This was disclosed by Seyi Sobogun, Head, Capital Projects, Egbin Power Plc, a Sahara Power Group company, while delivering a paper titled: ‘Energy Mix – The Challenges with […]
LAGOS STATE GOVERNMENT GIVES UPDATE ON THE CONSTRUCTION OF THE 4TH MAINLAND BRIDGE
The Lagos State Government through the Office of Public Private Partnerships is given the update on the construction of the 4th mainland bridge in Lagos. Speaking at a media brief in Lagos today, the Special Adviser to the Governor on PPP, Mr. Ope George gave a brief history of the 4th mainland bridge project.According to […]
Kyari: Nigeria Leading Africa’s Drive for Investments in Infrastructure to Boost Gas Exports
The Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC), Mallam Mele Kyari, yesterday said Nigeria was leading the drive for massive investments in critical gas infrastructure in Africa to boost the export of the product to Europe and other continents.Kyari stated this during a panel session at the ADIPEC Strategic […]
Nigeria’s tax laws encouraging investments — APM Terminals
Nigeria has tax laws that are serving as incentive to drive investments into the nation’s economy, Courage Obadagbonyi, the chief financial officer of APM Terminals Nigeria, has said. According to him, the pioneer legislation, Infrastructure and Roads Tax Credit Programme which companies like MTN and Dangote have used to successfully to build hundreds of kilometres […]
Nigeria needs $800bn for 10yrs to fix infrastructure deficit
Economic experts in the nation’s infrastructure space yesterday stated that Nigeria needs about $80 billion in financial commitment annually over 10 years to fix its infrastructure deficit. Speaking at the national workshop of the Association of Business Editors in Nigeria (ABEN), themed: ‘Infrastructure Financing as Pathway to Sustainable Economic Development,’ leading infrastructure stakeholders in the Dangote […]