Blog Medium Without Sidebar

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone-  ZAMBIA- Univergy Solar company is set to invest over $ 200 million United States dollars in two solar power generation plants in Zambia. The Company has bent on to improve and bring about a 200 megawatts solar power on grid project; 135 Megawatts in Mpika and 65 Megawatts in Mufulira districts respectively. October 29th 2019, Univergy Solar Company will sign a memorandum of Understanding (MoU) that will result in the rebirth of the project in the first quarter of 2020 and will be completed between 6 to 8 months. This project will be carried out in partnership with a Zambian company and is expected to generate hundreds of jobs and business opportunities for local firms engaged to retain the solar firms and...

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone-  CAMEROON, Triapartite projects financed by the African Development Bank for $121.4-million in 2010/2011 are starting to give Cameroon with more reliable electricity supply, the institution the Bank noted. Roughly calculated, 23000 MW hydroelectric production capacity; Cameroon has the second largest hydroelectric potential in Africa and the 18th largest worldwide, however; the French West African nation has tholed power supply for many years. The AfDB said, the Lom Pangar storage reservoir project was complete, although the dam’s generating plant was still under construction. Two other power plants, Kribi and Dibamba, had begun working to strengthen Cameroon’s generating capacity. The bank granted $ 62.9...

By Abdul Rahman Suagibu – NEW AFRICA DAILY  NEWS, Freetown, Sierra Leone-  African Export-Import Bank (Afreximbank) have said through the Bank’s Managing Director of Intra-African Trade Initiative, Kanayo Awani that; the bank is progressing through a sequence of stages to the African Cotton Initiative (AFRICOTIN) in a bid to expedite the process of the African Cotton Sector. Ms. Awani pronounced at the launch of the African Corner at the World Cotton Day, unionized by the World Trade Organization in Geneva on 7 October, 2019 that the initiative would entwine to stream upward interventions boosting production of cotton on the continent and lower down interventions promoting and financing the consumption of cotton products. In addendum, Kanayo Awani furthered that, the cotton value...

By Abdul Rahman Suagibu – NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- ZIMBABWE, Professor Mthuli Ncube, Finance Minister of Zimbabwe laments on 2 % tax transaction. This was a result of concerns raised by business leaders to nullify the tax that they claim is increasing the cost of doing business. Among those disputing the introduction of the tax is Combined Harare Residents’ Association (CHRA).Director Mfundo Mlilo who made a court application in September this year challenging the SI 205-2018. Professor Mthuli Ncube declares that, the 2 %Intermediated Money Transfer Tax on transactions will continue for much longer as it covers for tax defaulters. Industrial lobby groups among them – the Confederation of the Zimbabwe Industries and the Zimbabwe National Chamber of Commerce,...