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Day: October 23, 2024

Uganda: $3 billion railway construction deal with Turkish company Yapi

The Ugandan government has signed a $3 billion contract with Turkey’s Yapi to build the 272-km Malaba-Kampala railway line. Work is expected to begin next month and take 48 months to complete. After China withdrew from the project, Uganda is adopting the Tanzanian model by funding the project from various sources. Source: Africa News Agency

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Ethiopia: Over $8.5 billion of Chinese investment boosts economy

Chinese investors have poured over $8.5 billion into Ethiopia, creating thousands of jobs, according to the Ethiopian Investment Commission (EIC). With 3,309 projects led by Chinese companies, the country’s infrastructure and industry have seen significant development. In 2023/2024, Ethiopia saw a 14% increase in foreign direct investment, reaching $3.9 billion, supported by the increased involvement of Chinese investors. Source: Africa

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BRICS: Ramaphosa calls for massive investments in Africa

South African President Cyril Ramaphosa has urged the BRICS to invest ‘massively’ in Africa’s infrastructure and youth skills, noting that the continent’s free trade agreement ‘unlocks massive opportunities.’ Speaking at the BRICS Business Forum ahead of the summit in Russia, he said: ‘We call on the BRICS countries to partner with us to build the roads, ports, railways, energy and

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BRICS: Ramaphosa calls for massive investments in Africa

South African President Cyril Ramaphosa has urged the BRICS to invest ‘massively’ in

Africa’s infrastructure and youth skills, noting that the

continent’s free trade agreement ‘unlocks massive opportunities.’ Speaking at the BRICS Business Forum ah…

Read More