Trending
- Econet Wireless Zimbabwe adopts eSim to align with global trend
- East Africa elated as the 2027 Pamoja AFCON bid prevails
- Young African queens reshaping the continent’s global influence
- Energy outlook: access to electricity in Africa still short of SDG7
- Tanzania’s ambitious journey to energy riches
- Nigeria bets big on Fluenta technology to regulate flare gas emissions
- Depreciating shilling worsens Kenya’s debt and economic struggles
- High fuel prices in South Africa to worsen inflation
Author: Vishal Sharma
Africa Oil Week (AOW) has been temporarily moved to Dubai (United Arab Emirates) for the 2021 edition, the organisers of the event have confirmed. This will be done at the foothills of the Dubai Expo 2020 and the Global Business Forum Africa 2021.
The event, originally scheduled from 1-5 November in Cape Town, South Africa will now take place on 8-11 November 2021 in the Madinat Jumeirah.
The organisers have also dismissed media reports that the event had been scheduled to go on in South Africa as per the earlier plans.
Dubai is now positioning Africa as a key player in global geo-politics as its support for the continent demonstrates a new hope for many African nations.
AOW mandate
According to the organizers, the event’s mandate to stimulate upstream deals and transactions, drive investments into African projects and facilitate new partnerships and networking opportunities will remain the same, as per …
United Arab Emirate’s Dubai has been ranked among the top 10 cities for international arbitration.
The significant boost to Dubai’s status was revealed through a latest report that followed a research by the School of International Arbitration (SIA) at Queen Mary University of London and White & Case LLP.
Only jurisdiction from the Middle East
Dubai was the only jurisdiction from the Middle East which was on the list of the top ten ranked arbitral seats, alongside the most preferred seats of London, Singapore, Hong Kong and Paris.
This is according to the 12th version of the International Arbitration Survey titled ‘Adapting arbitration to a changing world’.
it is worthy to note that Dubai surpassed well-known seats such as Vienna and Washington.
The survey was all about the rankings of arbitral seats and institutions, which is a key reference for decision makers to identify and analyse the needs, expectations, and
Ethiopia’s Ministry of Transport and Dubai’s DP World signed a $1 billion deal to develop the road linking Berbera in Somaliland into a trade and logistic corridor.
In a statement from DP World, it said that together with its partners they plan to invest up to$1 billion over the next 10 years to develop supply chain infrastructure along the corridor which will include warehouses, cool and cold chain depots, dry ports, container yards, silos, freight forwarding and clearing activities.
DP World committed to investing up to $442 million to expand and develop the corridor with the first phase nearly completed. The quay will also be expanded to 1,000 metres which will increase capacity to 2 million TEUs (twenty-foot equivalent units) which are operated by 10 quay cranes.
Ethiopia’s Minister of Transport, Dagmawit Moges and DP World’s chairman and chief executive Sultan Bin Sulayem signed the agreement in Addis Abba Ethiopia.…
Dubai-based port operator DP World has been selected as the preferred bidder for a 20-year concession to operate the multipurpose terminal (MPT) at the port of Luanda, Angola.
According to the Luanda’s port operator, the government of Angola and DP World have now entered into a formal discussion on the concession agreement.
Over the 20-year period of the concession, DP Wolrd said it plans to invest $190 million with plans to acquire new equipment and revamp existing infrastructure so as to bring operations in line with global standards and improve the efficiency of the MPT. The broader aim is to increase the annual throughput to approximately 700,000 TEUs per year. The plan also aims to train and develop existing staff.
The MPT handles both containers and general cargo with a quay of 610 metres with a depth of 12.5 metres and a yard of 23 hectares.
The agreement will bring …
By the time Safaricom launched M-Pesa payments in 2007, the market for digital payment in Africa was barely scratched. With poor internet connections, defragmented payments systems, and a non-existent online-based customer base, the continent was in darkness.
In 2006—prior to the launch of M-PESA, the leading local mobile money transfer service—only 18.5 percent of Kenyans used formal services (i.e., mostly bank accounts), 8.1 percent used semi-formal services (such as those provided by microfinance institutions), 35.0 percent used the informal sector (rotating savings and credit associations), and no less than 38.3 percent were completely excluded.
A decade later, the industry has expanded rapidly, giving birth to new entrants who have pushed the worth of this sector to billions of dollars and other billions exchanged through various platforms. These include the use of mobile money, credit cards, virtual cards, instant bank transfers, and QR codes.
The global digital payments market size is …