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By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone-  The Global port operator – DP World has ratified approvals with the administration of Senegal to improve a deep-water port at Ndayane worth a sum of $1.127 billion, its massive venture in Africa to date, the company asserted on December 23rd 2020. DP World Dakar – a joint investment between the Dubai-based logistics provider and the Port Authority of Dakar (PAD), will subsidize, structure, and improve land and maritime infrastructure for the new 600-hectare (1483 acres) port about 50 km from the existing port. The consensus to assemble the port was accomplished after talks between President Mack Sall and DP World Chairman – Sultan bin Sulayem and is in proliferation to prevailing proposals...

By Abdul Rahman Bangura–  NEW AFRICA DAILY  NEWS (NADN) Freetown, Sierra Leone- The African Continental Free Trade Area (AfCFTA), slated to liftoff in January 2021, is inclined to be a godsend for African regional and international agri-food trade, according to reports. Agrarian connoisseurs at the Malabo Montpellier Panel evaluated the probable chances for African national administrations and its eight regional economic communities to trade further effectively in this new dispensation, encompassing paths to influence informal cross-border trade. Yet, informal trade accounts for 30 to 40% of total trade within the Southern African Development Community (SADC) and as vastly as 86% of Uganda’s official exports. The AfCFTA will be one of the vastest free trade areas in the world since...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- Equatorial Guinea has been through a difficult year due to the travel restrictions imposed by the Covid-19 pandemic, coupled with a historic crash of oil prices, have sent its hydrocarbons industry in a deep crisis of uncertainty. However, the country’s industry has proved resilient and a strong dialogue between government authorities and companies has already laid the basis of a recovery in 2021. The first positive signal comes from the latest investment expectations coming out of the evaluation of 2021 work and budget programs from upstream operators. They include over $1.1bn of investment forecast: $832.4m of investment commitment and $370m of contingent investment. Such figures are extremely encouraging for the upstream...

By Abdul Rahman Bangura–  NEW AFRICA DAILY  NEWS (NADN) Freetown, Sierra Leone-  The Power Transmission Network Reinforcement and Interconnection Project in Madagascar (PRIRTEM-II) comprises the construction of a 135-km, 220 kV interconnection cable between the capital – Antananarivo and the central industrial city of Antsirabé. Also, the project will enable to nourish the power produced by the Sahofika Hydropower Plant into the national grid, providing with some eight million people with accessible, clean energy. However, the financing includes a loan of UA 20 million ($28.6 million) from the African Development Fund (ADF), the concessional lending window of the Bank, and a loan of UA 10 million ($14.3 million) from Pillar 1 of the Transition Support Facility (TSF), the Bank’s...