South Africa receives investment grade status from new rating body

Gauteng-based rating organization Sovereign Africa Ratings (SAR) recently published its findings on South Africa’s creditworthiness, reportedly assigning the country a BBB long-term and B+ short-term grade along with a steady credit outlook. Apparently, the agency’s assessments o

Aria Commodities to invest $41 mn in Hamriyah Free Zone projects

Aria Commodities, a specialist in storage infrastructure development and asphalt and distillates, has recently announced an investment of nearly Dh154 million ($41 million). These funds will be used for constructing four plants in the Hamriyah Free Zone, including a Bitumen plant, a tire cycling pla

South Africa: Seriti Resources to invest $730Mn in 450MW wind farm

South African energy firm, Seriti Resources is reportedly planning to invest $730 million towards establishing a 450-megawatt wind farm in Mpumalanga after the acquisition of Windlab Africa. This move is in line with the company’s plans to reduce its carbon footprint and venture into renewa

Ramaphosa’s energy plan to add 1950 MW to Eskom’s 6,000 MW need

South African President, Cyril Ramaphosa’s energy plan will reportedly add 1,950 MW of electricity to the country over the next three months to ease the country’s perennial electricity crisis. However, it does not suffice to cover up the shortages faced by Eskom. The country has been

Infobip, Network International to offer WhatsApp for business banking services

Network International, a digital payment solution frontrunner, has reportedly declared that it will introduce the WhatsApp feature for Business Banking services for financial institutions in Africa through a significant partnership with Infobip. Notably, Infobip is a full-stack cloud communicatio

Huawei, TD Africa partner to offer digital power solutions in Nigeria

Chinese tech major, Huawei Technologies, has reportedly partnered with Lagos-based, TD Africa, a leading distributor of lifestyle and tech-related services in the sub-Sahara region, to launch a set of revolutionary digital power solutions in the country. At the event launch held in Lagos, Mrs. Ch

AfDB sanctions $271M for Food Security & Economic Resilience Support Program

The Board of Directors at the AfDB (African Development Bank) have reportedly approved a loan of USD 271 million to fund Egypt’s Food Security and Economic Resilience Support Program. The aim is to support initiatives to diminish the impact of the universal blows on the domestic economy from R

UN spends $2Mn on a joint program for social protection in Nigeria

Faizat Badmus-Busari, Manager of joint SDG (Sustainable Development Goals) projects in Nigeria has reportedly spent $2 million through a joint program on social protection in the country. Faizat mentioned that the program received the funding from Sustainable Development Goals fund, offered to va

Haulage and travel rebound brings UK economy back on track

Latest figures from the Office for National Statistics (ONS) have shown that the UK economy reportedly grew by 0.5% in May, marking a rebound in the gross domestic product (GDP) after a few tumultuous months. As per reports, the latest data depicted an uptick from the previous estimates for March