Year: 2024

Africa’s Largest Hydroelectric Power Plant Surpasses Expected Electricity Generation: Contributes to 16% of East Africa’s Total Electricity Output

Mr Mohammed

The Ethiopian government has noted that Africa’s largest hydroelectric power plant has surpassed expected electricity output. The government disclosed that the Grand Ethiopian Renaissance Dam (GERD) has generated more than 2,700 gigawatt hours (GWh) of electricity during the past 10 months. The Ethiopian Electric Power (EEP) said the mega hydroelectric power plant has surpassed its initial planned power generation targets in the past 10 months of the current 2023/2024 Ethiopian fiscal year. Its fiscal year started on July 8, 2023. According to data from EEP, the dam has registered a 26 per…

Tanzania SGR Operations Approach as the Country Launches East Africa’s First Electric Train

Mr Mohammed

The Republic of Tanzania has made a significant step in the rail transport sector as the country launched its first electric train on Saturday, which got to transport a total of 1,400 passengers from the coastal city of Dar es Salaam to Morogoro which is located in the in the western part of the country on its maiden journey, covering a total distance of 300 kilometers (186 miles)  as the Tanzania SGR Operations are expected to commence from next month. Moreover, comprising of state-of-the-art electric and signaling systems, the Tanzania…

Africa Green Building Summit & Future Cities Conference

Mr Mohammed

The second edition of the Future Cities Summit event,slated for July 16-19,2024, is poised to significantly advance the conversation on sustainable urban development in Nigeria, and the wider Africa. The Summit theme, “Building Resilient Futures: Integrating Carbon Neutrality, Circular Economy & Inclusive Urban Development,” is inspired by the World GBC’s Global Policy Principles for a Sustainable Built Environment, and its Building the Transition campaign. Both these initiatives draw on and extend the vision set forth in the earlier Africa Manifesto for Sustainable Cities and the Built Environment, embodying the Manifesto’s call for “…a net zero carbon,…

Dubai South: Final phase of South Bay project sells out in 4 hours

Mr Mohammed

Upon completion, South Bay will feature over 800 spacious villas and townhouses and more than 200 luxurious waterfront mansions Dubai South Properties announced the swift sell-out of the final phase of its South Bay development, located in the heart of Dubai South’s Residential District, just four hours after its market launch. The rapid sale follows the successful sell-out of all previously launched units in earlier phases, highlighting strong demand and the strategic success of the company’s project launches.The newly launched phase included 160 units consisting of three- and four-bedroom townhouses,…

Faced with the threat of regional disintegration in West Africa, resignation is not an option (By Dr Olakounlé Gilles Yabi)

Mr Mohammed

DAKAR, Senegal, June 13, 2024/ —  Dr Olakounlé Gilles Yabi, Founder and CEO of the citizen think tank WATHI (www.WATHI.org). In 2014, when I was working to launch the citizen think tank WATHI, I wrote the following in the concept note I proposed to dozens of friends interested in the present and future of West Africa: ‘West Africa is a very young region. The proportion of the population aged under 25 in each country of the region exceeds 60%. Demographic growth in West Africa will remain strong in the medium…

Small Island Nations Demand Urgent Global Action at SIDS4 Conference

Mr Mohammed

The once-in-a-decade SIDS Conference opened in Antigua and Barbuda today, with a clear message: the world already knows the challenges that SIDS face—now it’s time for action. ANTIGUA, May 27 2024 (IPS) – “This year has been the hottest in history in practically every corner of the globe, foretelling severe impacts on our ecosystems and starkly underscoring the urgency of our predicament. We are gathered here not merely to reiterate our challenges, but to demand and enact solutions,” declared Antigua and Barbuda Prime Minister Gaston Brown at the opening of the Fourth…

Backbase to release its 4th edition of the African Banking Digital Transformation Report at GITEX Africa 2024

Mr Mohammed

Marrakesh, May 27, 2024 — Backbase, the creator of the global leader in Engagement Banking Platform, is thrilled to announce the launch of the 4th edition of the African Banking Digital Transformation Report at GITEX Africa 2024. This report, produced in collaboration with the pan-African publication African Banker, has become a cornerstone in Africa’s financial news landscape, offering deep insights into the ongoing digital revolution within the banking sector across the continent. The 2024 edition of the report draws on comprehensive survey data from over 150 banks spanning 35 countries, providing…

Benin Joins 16 other Countries to Accede to the Establishment Agreement for Afreximbank’s Impact Investment Subsidiary, Fund for Export Development in Africa (FEDA)

Mr Mohammed

The Republic of Benin has become the latest African nation to accede to the Fund for Export Development in Africa (FEDA), the impact investment subsidiary of African Export-Import Bank (Afreximbank) (https://www.Afreximbank.com/). With Benin’s accession to the FEDA Establishment Agreement, the total number of participating African countries has risen to 17, following Nigeria’s accession earlier this month. The accession to the agreement demonstrates Benin’s support for Afreximbank’s efforts to broaden FEDA’s effectiveness by mobilizing its Member States to sign and ratify the FEDA Establishment Agreement and to support the organization’s impact…

Financial giants back Africa’s first Banking Awards ceremony

Mr Mohammed

African Export-Import Bank, African Guarantee Fund and African Trade & Investment Development Insurance, among the key pan-African financial institutions supporting African Banker Awards 2024. 23 May 2024, Nairobi: Some of Africa’s leading financial institutions will be attending the 2024 edition of the Awards Ceremony. This annual event which follows the African Development Bank Annual Meetings will be taking place at the newly launched JW Marriott Hotel in Nairobi, Kenya, on the 28th of May 2024. Launched by African Banker magazine in 2007, the African Banker Awards were designed to highlight African…

CIBAFI Introduces Innovative GHG Measurement Tool to Advance Climate Action in Islamic Finance

Mr Mohammed

The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions, on May 21 st, successfully conducted a webinar titled “Unveiling the CIBAFI Greenhouse Gas Measurement Tool to Strengthen the Contribution of Islamic Financial Institutions to Climate Action”. Experts in climate action and Islamic finance discussed the crucial role of Islamic banks in advancing climate initiatives. This initiative aligns with the declaration made by the Islamic Finance Infrastructure Organizations during COP28 and CIBAFI’s commitment to sustainability. The webinar introduced a groundbreaking Greenhouse Gas Measurement Tool for…