In terms of market growth, the UAE is the world’s largest construction market making it one of the fastest-growing regions in the world. The UAE construction market is expected to reach a value of USD 40 billion by 2030.
ABiQ tracks oil and gas projects across the UAE. As per the project tracking platform ABiQ, there are over $70 billion of active Oil and Gas projects in the UAE. ABiQ estimates that the UAE will spend $8.5 billion in 2022 on various Oil and Gas projects that are currently under construction.
The new currency weights for the Special Drawing Rights (SDR) valuation basket was determined by the IMF Executive Board
Saudi Aramco announced record results for Q1 2022 with a net income increase of 82 per cent, driven by higher volumes and pricing.
British International Investment and Norfund will invest ZAR 600 million in H1 Capital to develop renewable energy in South Africa.
The African Development Bank has successfully launched an AUD155 million social bond that will mature in October 2032. The bond will fund the continent’s most pressing social development needs.
The World Bank approved $200 million to help the government of Ghana catalyse its digital transformation under the Ghana Digital Acceleration Project.
The United States has announced over $200 million in additional humanitarian assistance for the Horn of Africa region
The Financial Times ranked the fastest-growing companies in Africa. The top eight are based in Nigeria and Kenya, with only one in South Africa.
On 28 April 2022, the IMF published its Sub-Saharan Africa Regional Economic Outlook for 2022, entitled “A New Shock and Little Room to Manoeuvre”
Founded in 1888, the De Beers Group is the world’s leading diamond company with expertise in diamond exploration, mining, and marketing
South Africa’s ministry of Public Works released phase 1 of the National Infrastructure plan 2050. Deteriorating infrastructure, widespread damage from devastating floods and poverty are some of the issues being addressed
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