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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 and Infrastructure Project Preparation Facility (NEPAD-IPPF), aims to support the development of the Expressway, which is a vital component of the Northern Corridor. The corridor spans from Mombasa to Burundi, Democratic Republic of Congo, Rwanda, and Uganda, facilitating the transportation of cargo from Indian Ocean ports to the five landlocked EAC Partner States.
Read the original article here: https://www.msn.com/en-xl/news/other/afdb-approves-sh5b-for-uganda-kenya-expressway-project/ar-AA1jhgBL
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 that have not only attained unicorn status but also transformed the fintech landscape in Southeast Asia. Nium’s mission was to establish an efficient and transparent cross-border payments platform, simplifying remittances for consumers by eliminating opaque fee structures and lengthy processing times.
Read the original article here: https://fintechnews.sg/79414/remittance/rise-of-nium-to-become-a-rare-singaporean-fintech-unicorn/
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, Timor-Leste, Tuvalu, and Vanuatu. The deal, expanding Google’s existing project in the region, involves a total funding of US$65 million. Canberra will contribute US$50 million, and Washington will add another US$15 million.
Read the original article here: https://www.reuters.com/technology/google-run-internet-cables-pacific-islands-australia-us-deal-2023-10-25/
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