Tunisia receives investment for sanitation systems project

Tunisia receives investment for sanitation systems project

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The Africa...

Black Industrialist textile firm to be launch in South African province

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Equatorial Guinea supports entrepreneurs with one-stop shop

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DLA Piper Africa claims top spot in M&A for Africa

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AfDB to launch 2019 African Economic Outlook

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The African Development Bank (AfDB) announced in a statement that it will launch its 2019 African Economic Outlook (AEO) flagship...

BBOXX signs US$31mn deal with AIIM

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South Africa space agency earns global recognition

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Private equity firms AfricInvest, Catalyst invest in Kenya’s Prime Bank

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Monday, 14 January 2019 06:01

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AfDB approves funding for bankable energy projects

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The African Development Bank (AfDB) group has announced that it has approved a US$32.5mn equity investment in Climate Investor One’s...

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AfDB approves US$14.12mn facility to support Nigeria’s membership

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GBS incentive to create employment opportunities for South African youth

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Powering up health care in sub-Saharan Africa

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Kenyan government will spend US$11.7mn to develop city roads

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Thursday, 03 January 2019 13:10

The Kenyan government will spend US$11.7mn to rehabilitate and upgrade 600 km of roads in Nairobi City

Construction starts at DP World US$442mn Berbera port in Somaliland

Dp WorldDP World group chairman and CEO Sultan Ahmed bin Sulayem at the official ceremony to mark the start of construction for the development of DP World Berbera in the presence of H.E. President of the Republic of Somaliland Muse Bihi Abdi (Image source: DP World)H.E. president of the Republic of Somaliland, Muse Bihi Abdi and DP World group chairman and CEO Sultan Ahmed bin Sulayem has launched the first phase of construction work at Berbera port in Republic of Somaliland

The first phase will consist of building a 400m quay and 250,000sq m yard extension as well as the development of a free zone to create a new regional trading hub. DP World Berbera, the joint venture company, will also serve landlocked countries in the Horn of Africa such as Ethiopia which has a 19 per cent stake in the project as a shareholder.

Sultan Ahmed Bin Sulayem, group chairman and CEO, DP World, said, “This is all part of our vision to act as an enabler of trade and to encourage growth by helping African countries develop their economies with access to global markets. Investment in this natural deep-water port and free zone will act as a catalyst for the growth of the country and the region’s economy and create jobs at many levels. Alongside physical assets, we are investing in the development of the people who work here through training and skills development across our network.”

Shafa Al Nahda Contracting has been awarded the contract for the port expansion. It has been involved in the Port of Dakar expansion in Senegal as well the Port of Maputo expansion project in Mozambique.

The president of Somaliland, Muse Bihi Abdi, added, “Connecting to landlocked countries such as Ethiopia and the rest of the region will reinforce the firm relationships that now exist and make Somaliland an important player in regional economic integration and growth. The importance of the Port of Berbera as a Red Sea gateway for the Middle East and Africa can now be realised, unlocking our potential as a trade hub and creating jobs across the country.”

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