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By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- ETHIOPIA, Leading provider of aircraft engine maintenance, repair and overhaul (MRO) solutions and part of Sanad – a wholly owned subsidiary of Mubadala Investment Company (Mubadala), has promoted its business expansion motivations in Africa by validating a notable agreement with Ethiopian Airlines – the continent’s fastest growing airline and one of the reputed aviation brands in the world. Approved at MRO Africa, the agreement elucidates the way for Sanad and Ethiopian Airlines to work with a common goal and up on, untapped MRO business opportunities in the region. In the first half, the agreement will see Sanad and Ethiopian Airlines enacting a Centre of Excellence for the repair and overhaul of...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- TANZANIA and TURKISH investors have bent on to exploit an amiable relations between the two nations by jointly executing economic projects. Zanzibar’s Second Vice President – Ambassador Ali Iddi, speaking to senior management teams from two Turkish companies -GÖKYOL and DAYK noted, it was high time the diplomatic relations between Tanzania and Turkey were altered into economic diplomacy for development and prosperity for plethora citizens across the East Africa nation. The delegation from Turkey was in the country to explore investment opportunities, especially in infrastructure construction. Ambassador Iddi advised the companies’ managements to give enough of time, in a bid to thoroughly explore all the...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- LIBERIA, African Development Bank’s (AfDB) Country Manager Dr. Orison Amu in Liberia and Samuel Tweah Jr – Liberia’s Minister of Finance and Development Planning, approved financing agreements for two projects. Primarily, the Renewable Energy for Electrification in Liberia, about US$33 million firstly in the form of a grant from the AfDB and the Strategic Climate Fund’s scaling-up renewable energy programme, is to strengthen renewable energy sector growth. The funds will be directly directed, to the construction of a mini dam on the St. John River in Nimba County in Northeastern Liberia and the development of the Gbedin hydropower Falls with a total capacity of 9.34MW of power, to be transmitted through...

By Richard Adorsu-  NEW AFRICA DAILY NEWS, Accra, Ghana- The Bank of Ghana says it will soon begin the purchase of gold from small scale mining firms as part of the bank’s plans to shore up part of its reserves which is held in gold. Governor of the central bank, Dr. Ernest Addison, speaking at the MPC press briefing last Friday stated that the bank will be doing the purchase via selected local gold buying agencies. He explained that the decision to purchase gold is borne out of the fact that Ghana is one of the lead producers of gold in the world, and the Bank is seeking to take advantage by shoring up its reserves using gold produced locally. “We decided that as a central bank in a country that produces gold, may be we needed to strengthen our holdings of gold. So, that policy...