Africa Covid19 Financial Services 

Nigeria likely to go into severe recession due to COVID-19, Oil price crash

The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update (NDU). The bank said the report indicated that Nigeria in Times of COVID-19: Laying Foundations for a Strong Recovery, estimated that the country’s economy would likely contract by 3.2 per cent in 2020. It stated that this projection assumed that the spread of COVID-19 in Nigeria would be contained by the third quarter of 2020. It however noted that If the spread of the virus became more severe, the…

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Asia North America Technology 

‘They are applying pressure,’ Bains says of China’s push for Canada to adopt Huawei’s 5G tech

OTTAWA — Innovation Minister Navdeep Bains says China is “applying pressure” on Canada to integrate Huawei technology into its 5G network, as it remains the only Five Eyes nation yet to make a decision about the scope of its involvement. The other four members of the global intelligence alliance — Australia, the United States, New Zealand and most recently the United Kingdom — have all made some indication about whether they will outright ban China’s Huawei’s technology or apply it in a some capacity. “Clearly they are applying pressure, and…

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Africa Agriculture 

Kenya: Construction Works of 102 MW Kipeto Wind Farm Complete

The Kipeto job, originally established by Craftskills, a Kenyan designer and minority equity shareholder, will supply the Kenya Power under a 20-year power purchase agreement which was signed back in 2015. China Machinery Engineering Corporation was originally contracted to perform engineering style, procurement and building of the wind farm at an agreement cost of over USD 212M. Read more In October 2018 the sole task investor, the United States Federal government’s Overseas Private Investment Corporation (OPIC), along with the project sponsor, Actis, asked for the African Trade Insurance Firm (ATI)…

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Africa Startups 

Founder Institute Lagos Opens Application For Cohort III

Creator Institute is supporting a lot more startups to launch new companies throughout Nigeria and the rest of Africa. Stanbic IBTC Creator Institute Lagos which released in the fourth Quarter of 2018 has given that then, produced over 40 companies through its very first 2 cohorts. Now, FI is set to get and examine applications for its 3rd mate. Founder Institute is the world’s largest pre-seed start-up accelerator which is based in Silicon Valley with chapters throughout 65 countries. In Nigeria, FI currently has chapters in Lagos and Abuja, and…

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Energy Utilities 

Buhari govt committing ‘electricity terrorism” on tariff hike – HURIWA calls for action

The Human Rights Writers Association of Nigeria, HURIWA, has accused the Federal Government and the National Electricity Regulatory Commission, NERC, of committing what it called “electricity terrorism.” HURIWA, a prominent civil rights advocacy group made the remark while urging Nigerians to publicly protest the proposed hike in the electricity tariffs as proposed by NERC to commence on April 1st 2020. It accused NERC of conniving with shylock and corrupt private sector operators in the electricity industry to inflict unquantifiable agony and pains on Nigerians who are at the receiving end…

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