Mozambique has signed an agreement with Chinese contractor, CITIC Construction to construct 35,000 affordable housing units in four provinces. The agreement which was signed between CITIC Construction and Housing Promotion Fund (FFH), a body supervised by the Mozambican Ministry of Public Works is intended to build houses meant for young people and workers in the public administration.
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Three weeks after the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, directed all Deposit Money Banks (DMBs) to lend out a minimum of 60% of their deposits, the Chief Executive Officer of Zenith Bank, Ebenezer Onyeagwu, has addressed the impact of the policy.
Manufacturing pillar in President Uhuru Kenyatta’s Big Four Agenda has received a shot in the arm following the launch of ultra-modern industrial park in Kiambu County by Bidco Group. The park launched by President Uhuru and attended by William Ruto and Raila Odinga has created 1000 direct jobs and another 5000 indirectly and contracts over 35,000 farmers across the country in supply of raw materials.
Old Mutual Ltd. raised $320 million through its African Infrastructure Investment Managers fund to invest in transport, power and energy projects in sub-Saharan Africa.The fund attracted investments from the Dutch and African development banks, the U.K. development finance institution CDC Group, as well as institutional investors from Africa and Asia, according to its investment director.
In this interview, Osonuga Oluwatobi, managing director of Chateau Royal Real Estate Limited tells BusinessDay’s Frank Eleanya, how the company is addressing the housing deficit in Nigeria and what the country and private players need to do to make housing more affordable for low and middle income earners. From the name ‘Chateau Royal Real …
The 2nd annual African Tourism Leadership Forum will take place at the Durban’s International Convention Centre from August 27-29 2019. The Forum is a Pan-African dialogue platform that brings together key stakeholders from Africa’s travel, tourism, hospitality and aviation sectors. It aims to provide a continental platform for dialogue, networking, sharing insights and devising strategies for sustainable travel and tourism development across the continent
Extracting value from property in Africa requires a longer time horizon, according to Thomas Reilly, managing director of Growthpoint Investec African Properties (GIAP), in an interview with The Africa Report.
As part of the agreement, Club Med will renovate part of the hotel and expand it at a development cost of between €25m and €28m.Grit Real Estate Income Group, which owns properties across Africa, has agreed to buy a hotel at a Senegalese Club Med resort for about €11.6m (R180m).
Shelter Afrique has stated its readiness to aid significant growth in Nigeria by investing over US$180 million or equivalent of N 650.9bn through lines of credit to financial institutions, issuance of mortgages and providing construction finance for Public-Private Partnerships (PPP) projects in the next five years.
IFC, a member of the World Bank Group, has loaned US$9 million to Protea Hotels Zambia towards the building and operation of a 249-roomed hotel and conference centre in the outskirts of Lusaka. Protea Hotels Zambia is a subsidiary of conglomerate, Union Gold Zambia.