Investments & Projects

Beijing — An investment fund system set up by the Government of the People's Republic of China to strengthen foreign direct investment (FDI) in Africa and enhance the continent's economic potential is showing significant progress, according to new statistics.

The African Development Bank, AfDB, plans to invest about $24 billion over the next 10 years to accelerate the realisation of the food sufficiency agenda, its president, Akinwumi Adesina, said on Tuesday.

South Africa's Department of Trade and Industry (dti) has funded the visit of the six-member group as part of the department's efforts to increase trade and investments between South Africa and South Sudan.

Luanda — Three private investment projects amounting to USD 14.6 million, were signed today in Luanda between the Industry Ministry?s Technical Unit for Support to Private Investment (UTAIP) and national companies.

Nigerian National Petroleum Corporation has said that a consortium of Chinese banks have invested $250 million in the Nigerian petroleum industry.

These projects are expected to be finished by the end of 2019, according to the director.The ministry of transport is providing MAD 464 million in funding for the project, while the Tangier-Tetouan-Al Hoceima region is giving MAD 250 million.

Kwazulu — Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala has reassured businesses operating in KZN that the province remained a sound investment destination that had their interests at heart.

The New Nigeria Development Company says it will invest $15 million through a partnership with a Turkish firm to reactivate the collapsed Kaduna Textile company.

Rabat — The 2nd edition of the China-Africa Investment Forum (CAIF) will be held in the Moroccan city of Marrakech on Nov. 27-28, local media reported on Monday.