India to host African Development Bank 2017 summit
The city of Ahmedabad, India, is set to host the 2017 Annual General Meetings of the African Development Bank (AfDB) next month.
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New Development Bank finances $1.5 billion energy projects
Within its first two years of operation, New Development Bank (NDB) approves a total of $1.5 billion in energy projects some of which belongs in Africa. The bank was setup two years ago following the decision made by the leaders of Brazil, Russia, India, China and South Africa (BRICS).
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South Sudan agree to join African Export-Import Bank
The youngest country in Africa, South Sudan, becomes participating country of the continental financial block – the African Export-Import Bank – also known as Afreximbank.
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Profit shifting companies steal $1.1 billion annualy from Ethiopia – report
Ethiopia loses over $1.1 billion every year by profit shifting companies, a new report reveals. The new individual countries level global tax loss estimates released today by the Tax Justice Network, shows that Ethiopia loses $1.1084 billion per year, which is 2.34% of its GDP.
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New law converts Nairobi to tax heaven, civil society warns
The capital of Kenya, Nairobi, risks becoming a tax haven and a conduit for illicit financial flows if the recently-tabled Nairobi International Financial Centre (NIFC) Bill 2016 is enacted into law, civil society warns.
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Ethiopia’s banking industry grows double digit
A new report predicts double digit growth of Ethiopia’s banking industry. Ethiopia’s commercial banking sector will post a steady expansion over 2017, with both loan and deposit growth continuing on a strong upward trend, according to Business Monitor International (BMI) latest report on banking industry of Ethiopia.
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Africa Finance Corporation invest in Egyptian company
Africa Finance Corporation (AFC) is set to invest $25 million in Egyptian petrochemicals company Carbon Holdings Ltd, the company said.
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African Development Bank provides $25 million to Mali
The African Development Bank (AfDB) is set to provide $25 million concessional loan to the Government of Mali to build utility-scale solar photovoltaic plant and transform the West African energy market., the Bank said.
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How to help fund your business
While bootstrapping has proven itself to be successful over the years, it’s not always entrepreneurs’ preferred choice for funding their business. It’s not the most reliable and unless your business starts out as a success and it’s going to take a long time to raise the funds for the improvements your business needs.
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Afreximbank partners with Ecobank to finance trade, investment in Africa
The African Export-Import Bank (Afreximbank) and Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group partnered to finance trade and investment in Africa.
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Huduma Card delivers cashless efficiency, powered by Mastercard technology
Mastercard commits to supporting the roll-out of the Huduma Card in Kenya as the technology partner of choice for the local government organisation.
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PTA bank finances $26 billion projects in Africa
The former PTA Bank, which re-branded itself to Trade and Development Bank (TDB) said it has financed $26 billion projects in the continent over the last ten years.
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African Export-Import Bank’s Moody’s Rating improves
The global rating agency Moody’s Investors Service (Moody’s) has announced an upgrade of the issuer rating of the African Export-Import Bank (Afreximbank) from Baa2 to Baa1, with the outlook as stable.
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Institution urges water ministers to combat water scarcity
Associate Vice-President of the International Fund for Agricultural Development (IFAD), Perin Saint Ange, urged water ministers of developing countries to combat water scarcity and help farmers access the water they need to grow enough food for their communities and countries.
