Author: Caroline Muriuki

The European Bank for Reconstruction and Development (EBRD) mobilized €300 million worth of loans to three public enterprises in Morocco to help them recover from the COVID-19 crisis. The enterprises set to benefit from the loan are the National Company of Highways of Morocco (ADM), the National Airports Office (ONDA) and the National Office for Electricity and Drinking Water (ONEE). According to a joint press release from EBRD and the Ministry of Economy and Finance, the cooperation with EBRDD is part of efforts undertaken by the ministry to support Public Enterprises and Establishments to counter the impacts of Covid-19 crisis.…

The European Investment Bank (EIB) and the Crédit Agricole du Maroc Moroccan bank (CAM) signed an agreement of €200 million to support companies in Morocco in the bio-economy and agriculture sector. The grant was signed in the presence of Aziz Akhannouch, the Moroccan Minister of Agriculture, Fisheries, Rural Development, Water and Forests, the European Investment Bank (EIB) and CAM, represented respectively by Emma Navarro, Vice-President and Tariq Sijilmassi, Chairman of the Management Board. The grant is also intended to accompany Morocco’s ‘Green Generation 2020-2030’ which is Morocco’s new agricultural development strategy that aims to double the country’s agricultural GDP and…

Morocco’s Gross Domestic Product (GDP) is expected to fall by 6.3 per cent this year before recovering quickly and rebounding by 4.7 per cent in 2021 according to Morocco’s central bank, Bank Al-Maghrib. (https://kadence.in/) According to Bank Al-Maghrib, like all countries around the world, the Moroccan economy has been affected by COVID-19 pandemic and the lockdown measures put in place to prevent the spread of the deadly virus. While continuing to monitor the economic and financial situation closely in the country and at the international level, the bank decided to maintain its key rate unchanged at 1.5 per cent. As…

Rwanda, Uganda and Tanzania have joined forces to connect stock markets electronically. The project which is funded by world bank means that the three countries will operate a single market with a view of reducing the cost and time of trading in shares of companies listed on markets across the borders. The three states are to start trading before the end of this year after interconnecting their trading systems and hooking it to the EAC Capital Markets Infrastructure (CMI) Information Technology platform. With this new singe stock market, investors in the three states will buy and sell shares of companies…

The World Bank approved $150 million to Rwanda to help improve access to modern energy for households, enterprises and public institutions The grant will also help enhance the efficiency of electricity services in the country. The grant will be given as $75 million as grant funding and the other $75 million as a loan. The Rwanda Energy Access and Quality Improvement Project (EAQIP) is aiming to improve the country’s progress towards achieving UN Sustainable Development Goal 7 (SDG7) to ensure access to affordable, sustainable, reliable and modern energy for the county’s citizens. It also aims at contributing to Rwanda’s vision of reducing…

Uhuru Kenyatta, President Kenya emphasized the importance of housing and construction sector in the post-Covid recovery plans during the Shelter Afrique’s 39th AGM and Symposium in Nairobi. Reading a speech on his behalf at the opening ceremony, the Cabinet Secretary Infrastructure, roads, housing and urban development, Mr James Macharia, Uhuru Kenyatta said despite the severe impact the sector has experienced due to economic slowdown, the sector can rebound quickly. “The construction sector can therefore be targeted to lead the rebound in the broader economy. Economic history teaches us that the construction sector, including housing construction, has been very effective in…

Who is Patrice Motsepe Patrice Motsepe is a South African billionaire born on 28 January 1962 in Pretoria, South Africa. He is the founder and executive chairman of African Rainbow Minerals, which deals with gold, ferrous metals, base metals, and platinum. Patrice Motsepe also sits on several company boards, including being the deputy chairman of Sanlam and non-executive chairman of Harmony Gold, the world’s 12th largest gold mining company. Motsepe became the first black partner at law firm Bowman Gilfillan in Johannesburg in 1994, he founded Future mining which provided contract mining services that included the cleaning of gold dust…

The World Bank has unveiled a detailed roadmap aimed at helping countries in sub-Saharan Africa to address climate change and poverty. The plan is titled the Next Generation Africa Climate Business Plan (NG-ACBP). According to the World Bank’s plan, it urges countries to seize the opportunity to scale-up climate resilience to redouble efforts to increase energy access,  grow their economies and reduce poverty and take advantage of sustainable and innovative approaches to leapfrog into greener development pathways. As part of the plan over the next six years, the World Bank will focus on five key areas namely clean energy, food…

The European Investment Bank (EIB) board of directors approved $14.9 billion to finance post-pandemic recovery projects and climate action around the world.  The new financing includes more than $3.67 billion of COVID-19 related investment aimed at strengthening public services, improving public health and back investment into companies in sectors hardest hit by the pandemic.  The bank has approved $23.8 billion since the pandemic began to enable public and private partners around the world to address challenges in health, social and economic aspects.  The EIB board of directors agreed to back investment in telecommunications, agriculture, housing, water and urban development across…

Who is Koos Bekker Jacobus Petrus Bekker alias Koos Bekker is a South African Billionaire born in 1952 in Potchefstroom, South Africa. He graduated from Stellenbosch University with degrees in Literature and Law. He then enrolled in Wits University, where he pursued law studies. He is also an MBA graduate of Columbia University in the United States. Bekker is one of the earliest South African millionaires and probably generally among African millionaires that have stood the test of the country’s economic times. This is one of the core reasons why he is often called the Rupert Murdoch of South Africa.…