US moves ahead on massive Africa power bid
US lawmakers broke through a logjam Thursday on a plan to bring electricity to 50 million Africans, in what Washington hopes will be its next major initiative for the continent.
During a visit to Africa in June, President Barack Obama announced a US drive to improve power for the two thirds of Africans who lack a reliable supply.
But legislation in Congress, which is more concrete and ambitious than Obama's initial statement, had been held up by a dispute on whether to support electrical plants that produce large amounts of carbon blamed for climate change.
World business leaders gather in Geneva for AFRICA CEO FORUM
The AFRICA CEO FORUM 2014, one of the most important gathering of African business leaders taking place in Geneva from 17 to 19 March, has been officially opened.
This level of participation is already a measure of the success of this year’s AFRICA CEO FORUM, whose mission is to bring together economic actors from French and English speaking Africa to strengthen regional ties, promote public-private sector dialogue with the goal of building an environment conducive to new business development. It further stimulates African entrepreneurship, innovation and creativity.
The opening ceremony, chaired by Donald Kaberuka, President of the African Development Bank and Amir Ben Yahmed, Managing Director of the Groupe Jeune Afrique and Chair of the AFRICA CEO FORUM, recalled the primary purpose of this major event.
World Bank Supports Bank Modernization and Micro Business Financing
The World Bank's Board of Executive Directors has approved funds to help the Democratic Republic of Congo (DRC) modernize its banking infrastructure, and increase the availability of long-term financial resources for entrepreneurs across the economy to start or scale up their businesses. Today's project targets poor and unserved communities, particularly women and youth.
The new US$30 million IDA* grant supports the Financial Infrastructure and Markets Project, designed to upgrade DRC's banking system with an electronic platform, and provide financing solutions to entrepreneurs.
Construction of Ethiopia-Kenya road in progress
An Ethiopian official said on Saturday that the construction of an asphalt road linking Ethiopia to Kenya was going on.
Speaking to Anadolu Agency, Samson Wondimu, communication director at the Ethiopian Roads Authority said that the 499km asphalt concrete road stretches through southern Ethiopia to Kenya.
He said the Addis Ababa-Nairobi-Mombasa road is part of the Cape Town- Egypt highway, which will traverse nine African countries including Ethiopia.
"Kenya constructs part of the stated road linking Mombasa with the Ethiopian border and Ethiopia on its part constructs the road from the border to its capital, Addis Ababa," Wondimu said.
