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By Abdul Rahman Bangura– NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Minister of Mines and Mining Development of Zimbabwe – Winston Chitando. Disclosed that; Zimbabwe’s arising power projects have the probable to amass at least three billion dollars ($3 billion) in an annual energy exports from the recent stance of energy deficit. Chitando announced this, when he met a news conference in Harare on July 29th, 2020 to dispense a synopsis of President Mnangagwa’s two-day working visits of coal mining and power generation projects in Hwange earlier in July of this year. Saying in Hwange during the visit, President Mnangagwa announced, he had been instilled by work on the ground which he said will oversee Zimbabwe not only to accomplish energy self-sufficiency, but also into...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The African Continental Free Trade Area (AfCFTA) has bent on If executed exclusively, the trade agreement could benefit regional income by seven percent or $450 billion, speed up wage upswing for women, and lift thirty million people out of severe poverty by 2035. The AfCFTA is a leading alternative for regions to improve, decrease poverty and stretch financial inclusion, World Bank, finds. According to the announcement by World Bank, it infers that attaining these, may cause up to $79 billion in output losses in Africa in 2020. The Novel Coronavirus (COVID-19) pandemic has already provoked critical disturbances to trade across the continent, comprising in critical goods, such as medical supplies and food....

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- CDC Group, the UK’s development finance institution and impact investor, has today announced an additional US$75 million commitment to its existing trade finance facility with Absa Bank. The investment will provide systemic liquidity across CDC Group, Africa’s markets.   The investment will provide systemic liquidity across CDC’s African markets and enable local banks to sustain the availability of trade finance, supporting supply chains during the COVID-19 crisis. The pandemic has put significant pressure on African banks as international banks continue to “de-risk”, withdraw from the continent and reduce their correspondent banking relationships in developing economies. In the context of broad outflows...

By Abdul Rahman Bangura– NEW AFRICA DAILY NEWS (NADN) Freetown, Sierra Leone- The United Bank for Africa Plc (UBA) on of the prominent pan-African financial services institutions in the African continent, has endorsed the nominations of Rokia Hacko, Chioma Mang, Chinedu Obeta, Bode Aregbesola, Kingsley Ulinfun, and Usman Isiaka as Chief Executive Officers of six of its twenty associates across Africa, liable to regulatory approvals. The new CEO’s will navigate the Group’s policy and activities in Mali, Uganda, Zambia, Senegal, Tanzania and Sierra Leone respectively. In upswing, Ogechi Altraide has evolve the recent Head, Retail Banking; Amadao Konate, Head, Treasury & International Payments for UBA America. These international appointments rave the preceding nominations of Sola...