Tag: World Bank

World-Bank
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World Bank approves $1.5 billion for South Africa’s infrastructure push

South Africa has secured a $1.5 billion World Bank loan to speed up reforms across its electricity, transport, water and sanitation sectors, strengthening infrastructure that the government says could support nearly 600,000 jobs by 2032 and help lift economic growth. The financing, provided through the International Bank for Reconstruction and Development (IBRD), marks the fourth stand-alone operation approved for South…

Timilehin Adejumobi Timilehin Adejumobi
WeLight solar mini-grids
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Africa’s largest solar mini-grid firm WeLight plans $650 million expansion   

WeLight solar mini-grid expansion targets $650 million to scale rural power access across Africa’s off-grid communities.

Timilehin Adejumobi Timilehin Adejumobi
World Bank approves $55 million funding package for Lesotho
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World Bank approves $55 million funding package for Lesotho

World Bank approves $55 million funding package for Lesotho

Oluwatosin Alao Oluwatosin Alao
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World Bank prepares $750 million loan to support Kenya’s fiscal reforms

The World Bank prepares a $750 million budget support loan for Kenya to ease debt pressures and drive fiscal reforms.

Omokolade Ajayi Omokolade Ajayi
The World Bank
BusinessHot News

World Bank to unlock $750 million Kenya lifeline, boost Africa growth

World Bank Kenya $750 million lifeline boosts Kenya’s economy with budget support, reforms, and climate resilience funding.

Timilehin Adejumobi Timilehin Adejumobi
Morocco's phosphate boom
BusinessGlobal News

Morocco’s phosphate boom helps shield economy from global slowdown

Morocco's phosphate sector helps offset rising energy costs as OCP expands production amid a global slowdown.

Oluwatosin Alao Oluwatosin Alao
FG cancels $717.7 million World Bank power sector loan
BusinessTechnology

FG cancels $717.7 million World Bank power sector loan

The Federal Government of Nigeria has cancelled $717.7 million in undisbursed financing tied to a World Bank-backed electricity reform programme. The funds were part of a broader intervention designed to stabilise Nigeria’s power sector and reduce long-standing financial pressure on public finances.  The decision was taken jointly with the World Bank after both sides agreed to discontinue the remaining portion…

Oluwatosin Alao Oluwatosin Alao
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South Africa’s Eskom explores World Bank backing for multibillion-dollar nuclear build

Eskom explores World Bank support for a multibillion-dollar nuclear project aiming to add up to 5,200 megawatts to South Africa’s power grid.

Omokolade Ajayi Omokolade Ajayi
Nairobi, Kenya's capital city.
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Kenya targets $150 billion biodiversity financing in UN-backed plan

Kenya plans to mobilize up to $150 billion in biodiversity financing over a decade under UN-backed BIOFIN alongside a $500 million green bond push.

Omokolade Ajayi Omokolade Ajayi
BusinessGlobal NewsHot News

Kenya plans $500 million debut green bond as Iran war shakes economy

Kenya plans a $500 million green bond with World Bank support as oil price shocks and global tensions pressure its economy and financing.

Omokolade Ajayi Omokolade Ajayi
Angola seeks AfDB loan as oil supports growth amid debt pressure
BusinessTechnology

Angola seeks AfDB support as oil cushions impact of global shocks

Angola is seeking fresh support from the African Development Bank as it works to steady its finances in a volatile global environment, even as stronger oil prices offer some relief.  The government is in talks for a $165 million budget support loan, part of a wider plan to raise about $1 billion from external sources this year. Officials say the…

Oluwatosin Alao Oluwatosin Alao
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Kenya scrambles for World Bank rescue as Iran war shakes economy

Kenya seeks World Bank support as Iran conflict-driven oil prices strain inflation, currency stability and economic growth outlook.

Omokolade Ajayi Omokolade Ajayi