Business in Ghana

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Posts Tagged ‘Kenya’

It started with a speech…then the hammer fell….

Posted by Business in Ghana on March 30, 2015

Contributed by an Anti-Corruption Crusader

It was on Thursday last week that President Uhuru Kenyatta made his second State of the Nation address.

Most of it was fairly ordinary, but he saved the action for the end when he announced to a standing ovation that he was attaching a confidential dossier compiled by the Ethics and Anti-Corruption Commission (EACC).  The document contained the names of almost 170 individuals in all tiers of government from cabinet ministers, governors, principal secretaries, secretary to the cabinet, senators, MP’s and heads of parastatals (state businesses), that are under investigation for corruption.

The case files are to be submitted to the Director of Public Prosecutions (DPP). Read the rest of this entry »

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World Bank Group Commits US$ 5 Billion to Boost Electricity Generation in Six African Countries

Posted by Business in Ghana on August 6, 2014

WASHINGTON, August 5, 2014 – The World Bank Group today committed $5 billion in new technical and financial support for energy projects in six African countries– Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania_which have partnered with President Obama_s Power Africa initiative. 
Making the announcement on the second day of the 1st US-Africa Summit, World Bank Group President, Dr. Jim Yong Kim, said the new financial commitment was urgently needed to generate more electricity for the people of Africa, 600 million of whom have no access to electricity, despite the fact that Africa possesses some of the world_s largest hydropower, geothermal, wind and solar potential, as well as significant oil and natural gas reserves.

We think that the U.S. Power Africa initiative will play an extremely important role in achieving the goal of providing electricity for Africa. So today I’m very pleased to announce that the World Bank Group, following President Obama’s lead, will partner with Power Africa by committing $5 billion in direct financing, investment guarantees, and advisory services for project preparation in Power Africa’s six initial partner countries, Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. The U.S. Government and the World Bank Group are working now on specific tasks and milestones which could help to achieve one quarter of Power Africa’s goal of generating 10,000 megawatts of new power in Sub Saharan Africa,_ Kim said. Read the rest of this entry »

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