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 African Business Network 11
World Bank approves $345 million loan for Dar es Salaam port
A port in Tanzania’s commercial capital Dar es Salaam has had a US$345 million loan for expansion work approved by the World Bank.
Richard Martin Humphreys, the World Bank’s lead
transport economist said: “The project represents the start of an incremental process towards increasing the capacity of the port
of Dar es Salaam and strengthening its economic role in the region.”
Ghana to develop bauxite sector with $10 billion Chinese
Ghana has inked a US$10 billion memorandum of understanding (MoU) with China to develop its bauxite industry.
Senior Minister Yaw Osafo-
Maafo announced the
West African nation’s new partnership with China, which will contribute towards the construction of a railway
link between bauxite mines and production sites, at a conference in London.
“To develop the bauxite project with its railway and converting bauxite into aluminium we will need about $10 billion.”
France pledges €1 billion for Nigerian oil & gas sector
The French Government will invest €1 billion in the Nigerian oil and gas industry, cementing the country’s position as France’s  rst economic trading partner in Africa.
Denys Gauer, the French ambassador to Nigeria, con rmed the  nancial commitment in a meeting with the general manager
for public a airs of the Nigerian National Petroleum Corporation (NNPC) Ndu Ughamadu in Abuja.
Gauer said the money will be focused on encouraging French investors to look at the Nigerian oil and gas sector, adding the French Government will assist in the  ght against Boko Haram.2017, according to the IMF’s 2017 Regional Economic Outlook.
Ughamadu said that the more stable environment in Nigeria has opened the door to global investors in a number of industries such as power and infrastructure.

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