Commonwealth News
Absa and AfDB agree US$150mn trade finance facility
The African Development Bank (AfDB) has approved a trade finance facility of US$150 million to support Absa Group, a South African lender, in expanding its social and sustainable financing efforts. Additionally, the AfDB has agreed to provide about US$90 million in...
AfDB approves sh5b for Uganda-Kenya Expressway project
The African Development Bank (AfDB) has granted $1.4 million (sh5.2b) to the East African Community (EAC) for the feasibility study of the Kisumu-Kisian-Busitema-Busia Expressway Project. This funding, provided through AfDB's New Partnership for Africa’s Development...
Rise of Nium to become a rare Singaporean Fintech unicorn
Singapore-based fintech firm Nium has achieved unicorn status with a valuation surpassing US$1 billion. Alongside insurtech company bolttech, Coda Payments, and digital assets financial services platform Matrixport, Nium is among the few Singaporean fintech companies...
Google to run internet cables to Pacific islands in Australia-US deal
Alphabet's Google, in collaboration with the US and Australian governments, will lay undersea cables to provide Internet access to eight Pacific Ocean nations. It will include Micronesia, Kiribati, the Marshall Islands, Papua New Guinea, the Solomon Islands,...
Arc and Anglo meet regulatory conditions for Zambia JV
Arc Minerals, a metals exploration company based in the UK, concludes the majority of regulatory requirements for its joint venture (JV) with an Anglo American unit regarding copper assets in Zambia. The share subscription in the JV has been finalised, with Anglo...
World’s biggest climate fund to back Rwanda with $39.1 Million for its montane forests
The world's largest climate fund has committed $39.1 million to aid Rwanda in combating climate change by restoring its last montane forests, located in the Congo Nile Divide. These forests, home to endangered chimpanzees, are crucial for regulating the local climate,...