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Infrastructure
- The World Bank data shows remittances by Africans in the diaspora hit over $95.6 billion in 2021 with Nigeria, Ghana, and Kenya among the highest recipients of the inflows.
- Africa has a housing deficit of about 56 million units driven largely by urbanization and population growth, which has left governments struggling to meet the demand for affordable units.
- Many of the 40,000 people moving to African cities every day cannot afford basic formal housing or access loans to acquire homes.
Pan African housing development financier, Shelter Afrique, is targeting Africans living and working abroad to enhance the delivery of affordable housing agenda across the continent.
Shelter Afrique managing director Thierno-Habib Hann said over 170 million people of African descent that live and work in various countries across the world present a formidable resource pool for the continent’s infrastructure development, including housing.
“African diaspora populations are growing, as are their savings …
Africa has been hailed as the next frontier in the provision of global oil and natural gas resources, especially now in the wake of the ongoing Russia-Ukraine war.
This crisis has not only altered the global energy landscape, but also instigated an inflation in gas prices, given the former’s position in the hierarchy of major global producers. As sanctions continue to soar, Europe has embarked on a quest to find contingency energy supplies, as it seeks to minimize its dependency on Russia; which has already cut off gas supplies to countries like Finland, Poland and Bulgaria, over energy payment disputes.
Consequently, Africa’s gas resources have gained a newly found prominence, pertinently by the European Union (EU); owing to the continent’s rich endowment of oil and deep gas reserves. The mounting global demand for gas, has been pushing international energy companies to reconsider African projects. The numerous ongoing and upcoming oil …
At the start of the year, state governor Babajide Sanwo-Olu was photographed inspecting two high-speed trains purchased from the United States of America for the Red Line, which is expected to form the second spoke of the LRMT. The line runs from Marina to Agbado, 30 kilometres from Lagos.
The Blue and Red lines, when complete, are expected to move more than a million people across the expansive metropolis daily, addressing the heavy congestion that has become common within the city.
The light rail project was first contemplated a few decades ago, the initial projections indicating that the Blue Line would be completed in 2011. However, the project was weighed down by a myriad of challenges, including bureaucracy, corruption, mismanagement, and funding.
The light rail project is one of the numerous long-delayed plans to connect Nigeria by rail that has been invigorated by President Muhammadu Buhari’s government.…
Swissport Kenya Limited, the logistic firm based in Nairobi has been crowned as the company of the year at the Aviation Business Excellence Awards (ABEA) 2019 which took place on Friday, November 15, 2019.
The Hilton Garden Inn, which was ABEA 2019 company of the year first runners up also emerged top in the hospitality Services -hotels category. The Kenya Plant Health Inspectorate Service (KEPHIS) won in the government services category followed by the Kenya Revenue Authority.
Feted at an African themed gala dinner held at the Emara-Ole Sereni Hotel and which was attended by over 350 industry stakeholders, Swissport also won in the ground handling services category. Trade Winds Aviation Services were first runners up.
Speaking at the event, Alex Gitari, the acting Managing Director and Chief Executive Officer at Kenya Airports Authority (KAA) said, “Since ABEA 2018, we continue to see a growing interest in participating companies. I …
Liquid has deployed a high-capacity fibre optic backbone connecting subsea cables on the East Coast of Africa with cables on the West Coast of Africa…
JKIA has witnessed a significant boost in air cargo traffic to and from Europe, Asia, America, and most recently China and Australia.…
Ministry of Works, Transports, and Communications in Tanzania is setting a new record in expanding inland waterways in Tanzania.
The state has therefore invested $38 million to improve lake zone dwellers navigation across Lake Victoria, including building a ship to enhance transportation.
Transportation has been a vital driver of economic interactions for Tanzania: movement of human capital and raw materials over space and time, as well as stimulating expansion of settlements and business operations.
Bank of Tanzania’s quarterly economic review, point transport has been one of the top three activities contributing to the Gross Domestic Product, same applies to the corresponding quarter in 2018.
The ship will bear the capacity to carry over 1200 people, 400 tons of cargo and 20 vehicles. The latter is one of the many efforts espoused by the ministry to expand transportation facilities in Tanzania.
The construction of the ship has begun earlier October in …
The International Finance Corporation (IFC) will inject $25 million into a new sea cable project that the Western Indian Ocean Cable Company (WIOCC) is executing.
IFC’s investment will be in form of equity to partly fund the $235 million new sea cable project located in the east and west coast of Africa and the development of strategically located data centres across the continent.
Telkom Kenya owns nine per cent stake in WIOCC, making it among the largest shareholders in the company. George Mokogi Telco’s Managing Director for carrier services division sits on WIOCC board.
WIOCC included the project as part of the financial years 2019 to 2021 capital expenditure plan which means IFC funding will boost the plan whose cost was mainly to be bared by the shareholders.
World Bank investment arm said with IFC joining it is expected to provide equity that is not available in the market and …
Tanzania’s ambition of being East Africa’s one-stop hub for commerce and tourism via aviation is taking shape.
Air Tanzania Company Limited (ATCL) new Boeing 787-7 Dreamliner, touched down in Tanzania on Saturday, October 26, as reported by The Citizen. The impressive aircraft has a capacity of 300 passengers.
This purchase is the latest in a series of strategic actions taken by the government, including—acquiring 4 radar systems worth $29.2 million to secure its airspace and enhance the aviation industry performance, which has proven to be rather vital to the economy.
Further, Tanzania launched it’s modernized airport-terminal (3) at Julius Nyerere International Airport, which will serve up to 8 million passengers per year, it was built at a cost of over $314 million.
Air Tanzania Company Limited (ATCL) oversees over 10 aircrafts in its fleet including Bombardier Q400 and Airbus A220-30, this according to Ministry for Works, Transport and Communications. The …
