The Abu Dhabi Fund for Development (ADFD) has inked a AED169mn (US$ 46mn) loan agreement to construct a vital 77km highway linking two of the most important cities in Tanzania: Kidaho and Ovinza. This road is part of a key highway linking the western part of the country with Dar as Salam in the east.
Economy
Obama joins chorus of condolences for Ethiopia’s Zenawi
US President Barack Obama has joined a host of international figures in offering his condolences to Ethiopia after the death of the country’s Prime Minister on Monday
China claims its investment in Uganda is worth US$596 million
Chinese ambassador to Uganda, Zhao Yali, has said that Chinese investment in the country was currently worth US$596mn
IFC to push funds into Africa's energy and transport industries
The International Finance Corporation (IFC) has announced that it will offer US$4.3bn to Africas energy and transport sectors
US$97 billion earmarked for South African infrastructure
South African president, Jacob Zuma, has announced a US$97 billion, three-year building programme that will see roads, ports and access to utilities upgraded and coal and other mineral deposits exploited more effectively