Innovative bankrolling is gaining popularity and raising high hopes. African countries are increasingly exploring novel ways to finance their massive infrastructure projects. The Grand Renaissance Ethiopian Dam, a $4.8 billion project, is reportedly being built without money from traditional donors.
- Konye Obaji Ori
Electronic payment service companies, Visa and MasterCard have launched card services aimed at Africa's growing mobile payment industry.
- Silvia Antonioli and Abhiram Nandakumar
African Minerals said China's Shandong, its partner in the Tonkolili iron ore mine in Sierra Leone, is seeking control of the whole project, after taking on some of African Minerals' debt from banks and demanding immediate repayment last week.
- Helen Nyambura-Mwaura in Johannesburg
Barclays Africa Group has applied for a Nigerian banking licence and wants to take over the Egypt and Zimbabwe units still ran by its parent company, it said on Tuesday after reporting higher profits.
French chocolate maker CEMOI plans to open a factory in Ivory Coast in May to target the local and West African market, a company official said on Monday.