Blog Medium Without Sidebar

By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leonne- US$825 Million has been paid by the Board of Directors of African Development Bank to the Olivine Industries Limited – a local unit of Wilmar International, seemingly to construct two plants in concert with the company’s aim to expand its food portfolio with recent products. Wilmar, being recorded on the Singapore Stock Exchange owns 65% regulating equity in Olivine through its local subsidiary, Surface Wilmar Investments, which also owns 95% of the cooking oil producer in Chitungwiza. Africa Development Bank in a furlough started, the loan will see the company building a new margarine plant and a new tomato sauce line. “The board of directors of the African Development Bank Group has...

By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leonne- Administrators in Dodoma has the conviction to satisfy the US$4.4 billion venture target that craves, to boost the proceeds of healthy oil in the Semiarid region – a contemporary scheme that could propel it to an accepted provincial crossroad for broiling oil. Dr. Binilith Mahenge – Dodoma Regional Commissioner maintains that, Dodoma has the nicest ground for groundnuts and sunflower agribusiness. Eventually, the two key raw materials remain under produced “and existing factories have been targeting the local market.” Kongwa District Commissioner Deo Ndejembi notified the press on March 29th, 2020 that the neighborhood was devoted to assuring it satisfied the production mark. Kongwa...

By Richard Adorsu- NEW AFRICA DAILY NEWS (NADN) Accra, Ghana- African Development Bank (AfDB) has raised an exceptional US$3 billion in a three-year bond to help alleviate the economic and social impact the Covid-19 pandemic will have on livelihoods and Africa’s economies. The ‘Fight Covid-19′ social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including Socially Responsible Investors, with bids exceeding $4.6 billion. The African Development Bank Group is moving to provide flexible responses aimed at lessening the severe economic and social impact of this pandemic on its regional member countries and Africa’s private sector. “These are critical times for Africa as it addresses...

By Abdul Rahman Bangura – NEW AFRICA DAILY NEWS ( NADN ) Freetown, Sierra Leonne- Coal mining companies are exempted from the 21-day Covid-19 national lock-down which starts today, since their operations relate to generation of electricity. In a proclamation, Winston Chitando – Mines and Mining Development validated the deadest development. “Reference is made to the announcement of the national lockdown by President Mnangagwa and the following Statutory Instrument 83 of 2020 (Public Health (COVID-19) Prevention Containment and Treatment) (National Lock-down) order 2020,” he cited. Coal mining companies are free in terms of section 2(c) and 4(1) (i) since their functions connect to the production of electricity. “Notwithstanding the exemption, the companies are...