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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - Electricity will be carried through the CLSG Transmission line. Power supply to Liberia will begin on December 1st, 2022. Acting CEO and Chairman of LEC, Monie R. Captain signed on behalf of the administration of Liberia while Noumory Sidibe Director General of CI Energies, and Ahmadou Bakayoko Director General of CIE autographed on behalf of their respective organizations. 1,350 kilometer power transmission line that transmits 225kv, trots through the CLSG/Transco grid network relating the four nations, La Cote d’Ivoire, Liberia, Sierra Leone and Guinea. “Today marks a major milestone in our effort to create a regional energy market and interconnect our electricity networks,” told Hon....

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone - The Afreximbank announced, the term sheet was approved at the opening of the African Energy Week in Cape Town betweenn Rene Awambeng – Director & Global Head of Client Relations, Afreximbank, and Chief Tunde Afolabi, Chairman/CEO of Amni Petroleum, in the presence of Professor Benedict Oramah – President and Chairman of the Board of Directors of Afreximbank. In addendum, the deal will largely subsidize the essential equity expense in the OML 52 and OML 112, Okoro and Tubu oil and gas fields in Nigeria, would enable Amni Petroleum to make twice as much its oil production from about 10,000 barrels per day to 25,000 in twelve months. In upswing, gas to be elicited from the gas-rich Tubu field...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- Nigeria has become the latest country to pass a Startup Bill, giving a more formal approach to how the startup ecosystem is governed. The Bill which has been in the making since May was accented to by President Muhammadu Buhari earlier this week, and the news was made public via Twitter by the country’s Minister for Communications and Digital Economy Isa Pantami. Now known as the Nigeria Startup Act, the law will be an important anchor in the country’s technology developments while creating a thriving sector. The new law introduces the Council for Digital Innovation and Entrepreneurship which will be the main custodian and will oversee its implementation. The Council comprises of the president, the governor of Nigeria’s...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra Ghana- The African Development Bank (AfDB) approved an unfunded $75 million trade finance Risk Participation Agreement facility for FirstRand Bank (FRB). The approved facility will enhance FRB’s ability to underwrite trade finance transactions originating from issuing banks in several countries, including transition states and low-income countries across Africa. It is estimated that when fully utilized, this RPA facility, will support approximately $500-600 million of trade over the next 3 years, of which more than $100 million will support intra African trade and exports. The facility will support sectors like agriculture, manufacturing, energy and retail trade, which is consistent with the African Development Bank Group’s goals...