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Norway Pumps $122m Into Tanzania’s Rural Energy Fund 16 Apr 2013 | 01:10 pm
VENTURES AFRICA – The Norwegian government has decided to allocate NOK 700 million ($122 million) to the Tanzanian rural energy fund. Norway announced this last week after signing an agreement with Ta...
IFC Invests $7.8m In Abidjan’s Azalai Hotels 16 Apr 2013 | 01:00 pm
VENTURES AFRICA – The International Finance Corporation (IFC) is providing will provide a $7.8 million loan to the Compagnie Hôtelière de la Lagune S.A., the Ivorian company of the Azalai Hotels Group...
Sweden Grants ECOWAS $6.7m For Climate Adaptation 16 Apr 2013 | 12:30 pm
VENTURES AFRICA – Sweden is to provide $6.7 million grant over four years to support West Africa’s programme to reduce the region’s vulnerability to climate change. The support comes under an agreemen...
Nigeria Invests $1 Billion In New ICT Incubation Centres 16 Apr 2013 | 12:08 pm
VENTURES AFRICA – The Nigerian government has made available $1 billion for the construction of incubation centres throughout the country to stimulate growth in local software content. Late on Monday,...
Donors Pledge $3.6 Billion To Reconstruct Darfur 16 Apr 2013 | 12:00 pm
VENTURES AFRICA – A two-day donor conference on Sudan has ended with a pledge of $3.6 billion for the reconstruction of the country’s capital, Darfur. The amount, which will be paid over six years, wi...
UK’s Petroceltic Secures $500m Facility For Egypt, Algeria Expansion 16 Apr 2013 | 11:45 am
VENTURES AFRICA – UK-headquartered Petroceltic International Plc, an oil explorer, has secured a $500 million debt facility from the IFC and HSBC to expand its operations in Egypt, Algeria and Bulgari...
L’Oreal Buys Kenya’s Nice & Lovely, Kinuthia Becomes Instant Billionaire 15 Apr 2013 | 10:16 pm
VENTURES AFRICA- World’s largest multinational cosmetics company L’Oreal has acquired Kenya’s Interconsumer Products Ltd, makers of Nice & Lovely brands, in a multi-billion dollar transaction last Fri...
Meet Africa’s Youngest Billionaire, Ashish J. Thakkar 15 Apr 2013 | 07:28 pm
This story was featured in Ventures Africa magazine’s February/March Edition… VENTURES AFRICA – Ashish Thakkar is a lively person. Even at 7:30am, when we meet in the London Park Lane Intercontinental...
UNICEF Receives $500,000 From Dangote Foundation 15 Apr 2013 | 07:27 pm
VENTURES AFRICA – Africa’s richest man Alhaji Aliko Dangote has donated $500,000 through the Dangote Foundation to the United Nations Children’s Fund (UNICEF) to support efforts at managing recent mea...
Zuma To Visit Nigeria Amid Tense Bilateral Relations 15 Apr 2013 | 07:20 pm
VENTURES AFRICA – The South African President, Jacob Zuma, is scheduled to pay a one-day official visit to Nigeria on Tuesday in an effort to strengthen the relationship between the two countries. Thi...
