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    BREAKING NEWS
    West Africa Gold Production Expected to Increase by 2.7% in 2021 According to Report
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    Solomon Quaynor Maintained the African Landmass has a Strategic Enterprise Alternatives that Nordic will find Remarkable

    Posted On 13 Oct 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 12

    By Abdul Rahman Bangura–

    Photo Credit: Norwegian- African Business Association

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– The Vice President for Private Sector, Infrastructure and Industrialization at the African Development Bank (AfDB) – Solomon Quaynor, has asserted that, there are strategic venture and chances on the African mainland that Nordic enterprises will find desirable.

    Talking at a webinar held by the Nordic-African Business Association (NABA), he pointed out that, the Bank’s statute to stimulate tolerable economic development and social growth on the African landmass, stemmed in $9 billion in marketable and concessionary lending last year.

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    This according to Quaynor, moved towards the AfDB’s preference High5s, across its fundamental cross-cutting themes – that is mainstreaming gender, support to fragile markets, and climate-friendly projects.

    25% was to the private sector. He mentioned the Boko Mine and Port in Guinea, describing it as a “truly transformative project,” noting that the $1.4 billion incorporated mining and related transport infrastructure project has boosted from a 14-year senior loan of up to $100milion from the AfDB, with up to a three-year grace period.

    According to him, the undertaking is anticipated to develop $400 million to Guinea’s GDP, $300 million to the country’s trade equilibrium yearly during the operative level. Besides, over 4,000 jobs will be established during its construction phase, as well as 700 permanent and 1,500 temporary jobs during the functional stage.

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    He stated that, agro-industrialization projects for which the Bank is striving support from Nordic government members, would encompass those that enhance significance improvement to the robust output of stocks such as cocoa, livestock and cotton, and would clout the African Continental Free Trade Agreement, adding value and “allowing African production to partake the more in these value chains and also to increase jobs and increase incomes to private sector and also the African economy. ”

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

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    12 Comments

    1. Erik October 13, 2020 at 4:29 am Reply

      Thank you for responding to my appreciation email and thank you for the reports. Oslo Norway. Erik

      • New Africa Business News, Staff Correspondent October 13, 2020 at 4:32 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Kosi October 13, 2020 at 5:18 am Reply

      As you can see, they all coming to Africa for business. Let’s us make sure it benefit us. Accra Ghana. Kosi

      • New Africa Business News, Staff Correspondent October 13, 2020 at 5:19 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Ayesha October 13, 2020 at 5:26 am Reply

      Thank you for the newsletter. Like the reports. Serowe in Botswana. Ayesha

      • New Africa Business News, Staff Correspondent October 13, 2020 at 5:27 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Ubong October 13, 2020 at 5:33 am Reply

      Thank you for the reports. Norway would do better with Africa in term of business, than greedy China.

      • New Africa Business News, Staff Correspondent October 13, 2020 at 5:36 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Mustapha October 13, 2020 at 5:42 am Reply

      Following your reports through Face book and thank you. Kindia, Guinea. Mustapha

      • New Africa Business News, Staff Correspondent October 13, 2020 at 5:44 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Camila October 13, 2020 at 5:55 am Reply

      Like to thank you for the newsletters. Dodoma Tanzania. Camila

      • New Africa Business News, Staff Correspondent October 13, 2020 at 5:55 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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