The Week That Was is a recap of major activities that happened in Africa in the last 7 days. You can view the video here.
- Angola announced that the government plans to join the Extractive Industries Transparency Initiative (EITI) in an effort to fight corruption in oil, gas, and mineral extraction revenues.
- The Angola government also stated that more than 170 projects are waiting on funding approval from commercial banks.
- The Ebola outbreak in the Democratic Republic of the Congo in the Equateur Province has seen an increase in the number of confirmed cases and continued to spread geographically.
- The US military has awarded KBR a $75M contract to improve and maintain naval bases in Djibouti over the next five years.
- In Kenya, parastatals and county governments make up Kenya Power’s largest group of debtors owing millions in arrears.
- The Kenya government is in talks with the World Bank to secure a loan to support the country’s budgetary spending.
- Kenya received a $30 million grant from Japan in support of energy projects and universal healthcare programs.
- Private sector companies in Kenya saw a sharp decline in growth during August which led to subsequent layoffs to preserve cash. The purchase managers index declined during August but remained above the 50 mark.
- Mauritius will open its borders to international travel in three phases.
- Phase 1 will run until the end of September during which only Mauritians stuck abroad will be allowed to be repatriated.
- From October 1st travel from selected destinations will be allowed.
- Phase 3 will see the opening of borders although a timeline has not been announced.
- Rwanda’s BK Group has recorded a $17 million profit for the first six months of 2020. The bank experienced tight trading conditions but the insurance business saw a 12 percent growth year-on-year.
- Using a grant from the Nordic Development Fund, Swimsol developed a marine-grade floating solar system. In partnership with Energy Solutions Seychelles, Swimsol will develop this demonstration project in Seychelles.
- Qatar Airways has announced that 3 weekly flights to Mogadishu will resume on September 6th.
- Airtel Tanzania declared a $14 million dividend to the Tanzania government.
- Uganda announced the opening of borders and airports.
- Dallaglio Investments has announced that it plans to build more than 300 houses near the Picstone Peerless Gold Mine in the Mashonaland West Province.
- The Zimbabwe Ministry of mines and mining development has repossessed 32 Idle mining concessions during phase 1 of a new mining policy of “use it or lose it”. The government has also reclaimed 21,000 hectares of mining land after owners failed to pay the required inspection fees.
- The Algerian government has announced that measures will be further reduced with the ban lifted on some cultural activities.
- Egypt’s Central Bank said the countries foreign debt has fallen to $111.3 billion at the end of March 2020.
- After record rains, Sudan’s Irrigation Ministry said the Nile river is at a record high and continues to rise.
- Tunisia’s lawmakers have approved the new government.
- Botswana’s Minister of Mineral Resources, Green Technology and Energy Security said it plans to become energy independent by 2026. It aims to add an additional 600 MW of coal-fired and solar power plants over the next six years.
- International airlines are set to resume flights to Namibia from September 15th.
- Impala Platinum in South Africa saw annual earnings increase by almost 400% as a result of higher commodity prices and a weaker currency.
- International air travel resumed in Ghana from September 1st.
- Guinea’s president announced that he will accept his nomination and run for a third consecutive term.
- Once the new Dangote refinery is commissioned, Nigeria will aim to become a net exporter of petrol by 2022.
- Nigeria’s oil fields have flared more than 225 billion standard cubic feet of gas in the first 6 months of 2020.
- NNPC in Nigeria invited companies to submit bids by October 15th for 2021 crude and condensate contracts.
- Nigeria’s Federal Executive Council approved $3.1 Billion to automate the country’s customs service.
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