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The Port of Djibouti's position on the Red Sea makes the country important for Saudi exports to Africa

Saudi Arabia to set up logistics centre in Djibouti

A delegation of 100 Saudi investors visited Djibouti this week to sign a contract for a logistics centre in the country’s free zone, the latest development in Saudi Arabia’s efforts to extend trade ties with Africa. Saudi Logistics City will cover 120,000 sq m in the first phase on a 92-year lease, and will include […]

A view of Khalifa Port. AD Ports Group owns 30 percent of the new joint venture, East Africa Gateway Limited, which will be based in Kezad

AD Ports JV buys 95% stake in Tanzania’s port operator

A joint venture consisting of the UAE’s AD Ports Group, India’s Adani Ports and China’s East Harbour Terminals has acquired 95 percent of Tanzania International Container Terminal Services in Tanzania. Abu Dhabi-based East Africa Gateway purchased the stake for nearly $40 million from Hutchison Port Holdings, Hutchison Port Investments and Harbours Investment, the Abu Dhabi-listed […]

Qatar Rwandair

South African Airways denies talks with Qatar Airways

South African Airways has denied it is talking to Qatar Airways about an equity injection, as observers suggest RwandAir is the Qatari carrier’s most likely target. Qatar Airways’ CEO Badr Mohammed Al Meer set rumours racing earlier this month when he revealed that the state-owned airline was “at the final stage of an equity investment” […]

Adnoc’s investment in Mozambique aligns with its expansion strategy for a lower-carbon LNG portfolio

Adnoc buys 10% in LNG project in Mozambique

Abu Dhabi National Oil Company (Adnoc) has acquired a 10 percent stake from Portugal’s Galp Energia in the Rovuma basin concession in Mozambique as part of its global growth strategy.  The acquisition will allow the UAE energy major a share of the liquefied natural gas (LNG) production from the concession, which has a combined production capacity […]

Emirates Nigeria

Emirates to resume Nigeria service from October

Emirates will restart services to Nigeria from October 1, after suspending flights on the route for almost two years. The Dubai airline will operate a daily service to  Lagos, Nigeria’s largest city.  “We are excited to resume our services to Nigeria,” said Adnan Kazim, deputy president and chief commercial officer, Emirates.  “We thank the Nigerian government for their partnership and support in re-establishing this […]

RwandAir CEO Yvonne Manzi Makolo said in Doha: 'Addis is already a huge hub but Kigali will be an alternative regional hub, especially given the geographical position of Rwanda'

Qatar and Rwanda to open airport in ‘heart of Africa’ by 2028

Qatar Airways and RwandAir will open a major international airport in Rwanda’s capital Kigali by 2028, the airlines said this week. The Qatari flag carrier has also announced plans to take a stake in a southern African airline to cement its expansion plans on the continent.  RwandAir and Qatar Airways, which have a code-sharing agreement, […]

The oil-for-cash deal with Dubai's HBK DOP represents twice South Sudan’s GDP, with 70% to be spent on infrastructure

Dubai company in $13bn oil-for-cash deal with South Sudan

Dubai-based Hamad Bin Khalifa Department of Projects (HBK DOP) has signed a €12 billion ($12.9 billion) oil-for-cash deal with South Sudan, according to a media report. The loan agreement was finalised between HBK DOP and South Sudan’s former finance minister Bak Barnaba Chol between December and February, Bloomberg reported, citing an unpublished report by a United […]

The UAE and Kenya will work will work together on mineral exploration, processing, marketing and mine development

UAE and Kenya sign mining and technology deal

The UAE and Kenya have signed an agreement to boost investment in the mining and technology sectors, as the Gulf state focuses on Africa to enhance its precious metals and minerals reserves. As part of the agreement, the UAE Ministry of Investment and the Republic of Kenya Ministry of Finance and National Treasury will work […]

Egypt's wealthiest man, Nassef Sawiris, who lives in Cairo, has interests in construction, manufacturing and sports

Cairo has most billionaires in Africa, but wealthy are leaving

Cairo is home to more billionaires than any other African city, but Egypt is facing an exodus of its wealthiest citizens. The international wealth advisory firm Henley & Partners said Cairo is home to four billionaires, and 30 centi-millionaires – those worth $100 million or more. Most reside in affluent parts of Greater Cairo, including […]

The signing ceremony for AD Ports Group's Luanda Port agreement. The 20-year deal is extendable by another 10 years

AD Ports commits $250m to Angola port upgrade

Abu Dhabi Ports Group is investing more than $250 million in a project to upgrade the port terminal at Luanda in Angola.  The company said it hd secured a 20-year concession agreement, extendable by another 10 years, with the Luanda Port Authority for operating and modernising the terminal. In agreements with the Angolan logistics companies […]

Waste To Energy Biogas plant with solar, battery station and E-car charging station

African renewables are ripe for investment, says Irena

Africa accounted for less than 1 percent of the new renewable energy sources added globally last year, and a conference in Abu Dhabi this week called on wealthy investors to help the continent achieve its targets. Amani Abu Zeid, commissioner for infrastructure and energy of the African Union Commission, told the International Renewable Energy Agency […]

Foreign labourers work at the construction site of a building in Riyadh Foreign workers on a building site in Riyadh; thousands of migrants who have the right to work in Saudi Arabia could have their work permit fees covered for four years from the date of recognition

Saudi Arabia will pay costs of normalising migrants’ status

Saudi Arabia said this week it will take on the costs of normalising the status of displaced individuals from neighbouring countries in what could amount to amnesty for thousands of illegal migrants and refugees.  “The state assumes the costs on behalf of individuals permitted to stay and rectify their status among the displaced from neighbouring […]

Acwa Power's desalination plant in Senegal will have a capacity of 400,000 cubic metres per day

Acwa Power to build $800m desalination plant in Senegal

Acwa Power, Saudi Arabia’s operator of power generation and desalinated water production plants, will construct a SAR3 billion ($800 million) desalination plant in Dakar, Senegal. The company signed an agreement with Senegal’s ministry of water and sanitation and state-backed National Water Company, to build a 400,000 cubic metres per day desalination plant in Dakar. The […]

Angola uae

Angola project demonstrates GCC’s growing Africa interest

Dubai Investments has appointed a Chinese construction company as the main contractor on its flagship project in Angola as GCC investments in Africa rise. China Harbour Engineering Company will undertake the first phase of Dubai Investments Park Angola, covering 2,000 hectares of residential, commercial and industrial property in the West African country. The award of […]

Zambia copper mine

Abu Dhabi’s IRH completes Zambian copper mine deal

Abu Dhabi’s International Resources Holdings (IRH) has completed its acquisition of Mopani Copper Mines in Zambia and is reported to be interested in acquiring more of the country’s minerals industry. IRH is part of International Holding Company, Abu Dhabi’s most valuable company. Previous reports said IRH would invest $1.1 billion through the deal in return […]

In this photo illustration, the MSCI Inc. logo is displayed on a smartphone screen. (Photo by Rafael Henrique / SOPA Images/Sipa USA) No Use Germany.

Gulf weightings increase on MSCI Emerging Markets

The MSCI Emerging Markets Index has increased the weightings of Gulf countries since their inclusion on the benchmark, as regulators loosened rules and companies ease foreign ownership restrictions to make it easier to invest. According to MSCI, more than $1.3 trillion in assets under management (AuM) was benchmarked against its emerging markets indexes as of […]

Adult, Male, Man Noura Al Kaabi, the UAE's minister of state, met Paul Kagame, president of Rwanda, at the Joint Economic Committee earlier this month

Green finance focus of UAE-Rwanda trade ambitions

With trade between the UAE and Rwanda topping $1 billion last year, Kigali International Financial Centre and Abu Dhabi Global Market (ADGM) are to work together on developing green and Islamic finance options. The two markets have signed an agreement to establish a framework for collaboration, with sustainable finance highlighted as a “major focus” for […]

The loan will be used to improve public services, and create jobs throughout Morocco

Morocco signs $109m loan deal with African bank

Morocco has received a loan worth €100 million ($109 million) from the African Development Bank to fund new investment and sustainable infrastructure projects across the country. The loan agreement was signed with Fonds d’Equipement Communal, a bank dedicated to financing investment projects and development programmes in Morocco. Funds will be used to improve public services, […]