Browsing: Africa Development Bank (AfDB)

Investment in Africa

The African promise: Ireland and Nordic countries urged to invest big

Investing

Investors from Ireland and Nordic countries are encouraged to consider Africa a promising destination for their investments, as the continent holds significant growth potential.
This call comes after an official visit by Prof. Kevin Chika Urama, the Chief Economist of the African Development Bank Group, to Denmark, Finland, Ireland, Norway, and Sweden.

Critics allege investment in East Africa oil exploration is not sound investment and endangers the environment. www.theexchange.africa

COP 26 failures: Irony of Africa oil investment to fuel sustainable development

Industry and Trade

As would be expected, Total rebutted the claims. Its first move was to make public the related project social and environmental studies and issue a statement in which it pledged transparency.

The company admits that; “The projects for the development of the oil and gas resources of the Lake Albert region and the cross-border pipeline are situated in a sensitive social and environmental context that requires special measures for the environment and the rights of the local communities.”

In a follow-up statement, the investors maintained that; “All the partners are committed to implementing these projects in an exemplary manner and taking into highest consideration the biodiversity and environmental stakes as well as the local communities’ rights and within the stringent environmental and social performance standards of the International Finance Corporation.”

www.theexchange.africa

87,500 Ugandan households to get electricity in last mile connectivity

Business

Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa, urged the project beneficiaries to take advantage of the government’s free electricity supply policy it rolled out in 2018, provided wiring of their premises had been certified.

The Bank’s Country Manager, Augustine Kpehe Ngafuan, noted that besides promoting small and medium businesses, the availability of stable power would bolster service delivery, especially at health centres.