Egypt’s Prime Minister Mostafa Madbouly recently met with representatives of INTRO Holding to discuss the development of the Kemet Data Center, a significant project within the Suez Canal Economic Zone (SCZone). The meeting followed the signing of a land contract for the project earlier this year. The Kemet Data Center, a green data center powered by renewable energy, is poised to become a regional hub for cloud computing and data storage. The project is being developed in partnership with Oman Data Park and Sterling & Wilson, and it will meet the highest international standards for data center operations. The project is expected to generate significant economic benefits for Egypt, including job creation, increased foreign investment, and enhanced digital infrastructure. By leveraging its strategic location and robust connectivity, the Kemet Data Center will cater to the growing demand for data processing and storage services in the region. “Egypt is ideally located to become a hub for data centers,” Prime Minister Madbouly said. “The Kemet Data Center will be a major leap forward for data centers in the region and globally.” Amr Talaat, Egypt’s Minister of Communications and Information Technology, emphasized the government’s commitment to digital transformation and its efforts to create…
Intelsat, a leading global provider of satellite communications solutions, has been honored with the prestigious Africa Sustainable Futures award in the “Digital Infrastructure” category, presented by the Financial Times and the World Bank Group’s Multilateral Investment Guarantee Agency (MIGA). This recognition highlights Intelsat’s groundbreaking satellite broadband project in Burkina Faso, which has significantly enhanced the country’s telecommunications resilience. By deploying a robust satellite network, Intelsat has addressed the challenges posed by the country’s fragile terrestrial infrastructure, ensuring continuous connectivity even in remote and underserved areas. Intelsat’s innovative solution has provided a reliable and scalable communication network, empowering businesses, governments, and individuals in Burkina Faso. The project has contributed to economic growth, improved access to education and healthcare, and strengthened the country’s digital infrastructure. “We are honored to receive this award,” said Rhys Morgan, regional vice president, EMEA, Media and Networks at Intelsat. “This recognition underscores our commitment to providing innovative and reliable connectivity solutions that make a real difference in people’s lives. We look forward to continuing our work in Burkina Faso and other regions in need of resilient digital infrastructure.”
Edinburgh College recently hosted delegates from Sunyani Technical University (STU) in Ghana as part of a collaborative project funded by the British Council’s Going Global Programme. The visit aimed to strengthen the partnership and further develop entrepreneurial skills among STU students and staff. Through a series of face-to-face and online training sessions, Edinburgh College lecturers are sharing their expertise in entrepreneurship, enabling STU to embed entrepreneurial thinking into its curriculum. The goal is to equip students with the knowledge and tools necessary to pursue start-up and self-employment opportunities. During their visit to Edinburgh, STU delegates explored the state-of-the-art facilities at Granton Campus, including the Renewables and Energy Efficiency Training Centre, Performing Arts Studio Scotland (PASS), and various vocational training facilities. They also engaged in discussions with Edinburgh College staff to learn about innovative teaching methods and student support services. Shona Pettigrew, Director of Enterprise and Knowledge Exchange at Edinburgh College, expressed enthusiasm for the partnership, stating, “We’re thrilled to welcome our partners from Sunyani Technical University to our campus. This collaboration is a testament to our commitment to fostering global learning and empowering students to become future entrepreneurs.” Juanita Ahia Quarcoo, CBT Coordinator for Sunyani Technical University, highlighted the benefits…
Elevate Uranium Ltd (ASX: EL8) (“Elevate Uranium” or “the Company”) is pleased to announce that it has received binding commitments for a two-tranche placement of fully paid ordinary shares (“New Shares”) to raise $25 million (before costs) at $0.325 per New Share (“Placement”). Approximately 32.4 million New Shares will be issued immediately under Tranche 1 of the Placement utilising the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A. The issue of a further approximately 44.5 million New Shares under Tranche 2 of the Placement is subject to shareholder approval which will be sought at a general meeting expected to be held in early December 2024(“General Meeting”). The Company is also pleased to receive strong support from one of the strategies of leading Australian fund manager, Paradice Investment Management Pty Ltd (“Paradice”). Paradice has committed to subscribe for New Shares in the Placement resulting in a pro-forma holding of 9.9% (~$12.4M) in Elevate Uranium on completion of the Offer. The Placement also introduced a number of new, high quality institutional, sophisticated and professional investors to the share register, whilst also being well supported by existing significant shareholders of the Company. Discovery Capital Partners, Cumulus Wealth and Wallabi Group…
The Ugandan government has taken significant steps to enhance the effectiveness of public investment management. The Ministry of Finance, Planning, and Economic Development, in collaboration with the Public Investment Management (PIM) Centre of Excellence, organized a conference to discuss strategies for improving project execution. The conference highlighted the importance of public investment in driving Uganda’s development and building essential infrastructure, human capital, and institutions. The Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, emphasized the need for government investments to be worthwhile and contribute to national development. “Government is taking seriously the PIM process,” said Ggoobi, adding that the Finance Ministry has developed a framework for tracking project implementation. He said the framework standardizes and provides strategic direction by facilitating a culture of accountability, transparency and continuous improvement during project execution. “To implement this framework, the Office of the Head of Project Execution is to be created to use the framework in collaboration with other M&E players such as OPM, OP and responsible departments in the Ministry.” The government has recognized the importance of the PIM process and has taken steps to improve its effectiveness. The Finance Ministry has developed a framework for tracking project implementation, standardizing procedures and facilitating…
Scatec ASA, a renewable energy provider, has reached financial close for the Mogobe battery energy storage system (BESS) facility in South Africa. The project is part of the country’s Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP). Scatec secured a 15-year power purchase agreement (PPA) with the National Transmission Company of South Africa (NTCSA) to provide storage capacity for grid balancing. The estimated total capex for the project is ZAR 3.0 billion (USD 170 million), with Scatec’s EPC contracts accounting for approximately 83%. The project will be financed by ZAR 2.7 billion (USD 154 million) of non-recourse project debt, with Standard Bank of South Africa as the mandated lead arranger. The remaining equity will be provided by Scatec (51%), Perpetua Mogobe (RF) (Pty) Ltd (46.5%), and a holding company of the Mogobe Local Community Trust (2.5%). Scatec will serve as the engineering, procurement, and construction (EPC) provider, as well as providing operations & maintenance (O&M) and asset management (AM) services for the project. “This marks a new milestone for Scatec in South Africa and for the renewable energy transition in the country. The Mogobe BESS project is a first of a kind and reaffirms our standing as a leading…
The International Monetary Fund (IMF) Executive Board has approved a 40-month Extended Credit Facility (ECF) arrangement for Liberia, totaling US$210 million. This arrangement aims to support Liberia’s economic recovery and development efforts. The ECF will provide financial assistance to Liberia while implementing key policy reforms to strengthen macroeconomic stability, enhance public financial management, and promote sustainable and inclusive growth. The IMF’s approval of the ECF underscores Liberia’s commitment to these reforms and its potential for economic progress. The ECF arrangement is expected to help Liberia address the challenges posed by the COVID-19 pandemic and recent commodity price shocks. By supporting economic recovery and development, the IMF aims to improve the lives of Liberians and promote regional stability. Key objectives of the ECF arrangement include: The IMF will continue to monitor Liberia’s progress in implementing the ECF program and provide technical assistance as needed.
The UK Government has announced a £1.9 million investment to support economic growth and strengthen technology and innovation across West Africa. Through the West Africa Research and Innovation Hub (WARIH), the government will partner with countries in the region to drive innovation and development. Sankore, a new initiative launched under WARIH, aims to facilitate the commercialization of innovative solutions, improve innovation policy, and enhance government digital service delivery. The initiative will provide funding and support to non-profit organizations working in these areas. Launching a call for proposals at a press conference in Accra, Lord Collins, UK Minister for Africa, said “This initiative is all about how we can work together to strengthen the global technology sector, creating opportunities for rapidly growing economies with lots of potential to compete on the world stage. The Sankore grant fosters partnerships at its heart, with a strong message that we go far when we go together.” Nigeria’s Minister of Innovation Science and Technology, Uche Nnaji said “Sankore project is a pivotal opportunity for Nigeria to enhance its innovation landscape, by strengthening industry-science linkages and developing an enabling policy environment. This partnership underscores our shared commitment to developing practical solutions that lead to sustainable and…
The Council for Scientific and Industrial Research – Crops Research Institute (CSIR-CRI) has embarked on a significant soil mapping initiative under the Agroecology and Circular Economy for Ecosystem Services (ACE4ES) project. This initiative aims to promote sustainable agricultural practices and strengthen ecosystem services across several African countries, including Ghana, Nigeria, Benin, and Tanzania. Led by experts in soil science, agronomy, and GIS technology, the soil mapping exercise will gather crucial information about soil characteristics across diverse agro-ecological zones. This data will inform the implementation of agroecological methods, such as crop diversification, composting, and biochar application, to improve soil fertility, reduce greenhouse gas emissions, and enhance climate resilience. The ACE4ES project prioritizes reducing Short-Lived Climate Pollutants (SLCPs), including methane and black carbon, in agriculture. Soil mapping plays a pivotal role in this effort by providing a comprehensive understanding of soil properties. This information enables the team to recommend targeted agroecological practices that enhance soil health, crop yields, and environmental sustainability. Dr. Kwaku Onwona-Hwesofour Asante, lead scientist of the ACE4ES project, stressed the importance of the initiative, stating, “This soil mapping exercise will offer us precise, location-specific data, enabling us to tailor agroecological practices for different regions. It’s crucial for improving soil…
The Congolese Ministry of Forest Economy and the Wildlife Conservation Society (WCS) have formally launched Africa’s first High Integrity Forest Investment Initiative (HIFOR) project in Nouabalé-Ndoki National Park. HIFOR is a groundbreaking initiative designed to address the lack of market-based finance for tropical forests that maintain high ecological integrity. These forests play a crucial role in climate regulation, biodiversity conservation, and supporting sustainable livelihoods. The project, launched on August 30, aims to generate HIFOR units, representing one hectare of well-conserved high integrity tropical forest. These units can be sold to generate revenue for forest conservation and support sustainable development in the region. Nouabalé-Ndoki National Park, a key biodiversity area, is the first site in Africa to be recognized for its ecological integrity and selected for the HIFOR pilot project. The park covers over 0.4 million hectares of high-integrity tropical forest and has absorbed an estimated 11 million tons of CO2 over the past decade. “This project marks a significant step in developing innovative financial mechanisms to protect our forests and ecosystems,” commented Forest Economy Minister Rosalie Matondo at the launch ceremony. HIFOR complements existing financing instruments by offering a non-compensatory tradeable asset that cannot be used for offsetting purposes. The…
