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African Development Bank and Korea launch the Korea-Africa Energy Investment Facility

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The Government of Korea and the African Development Bank have signed a Letter of Intent to launch the Korea-Africa Energy Investment Facility (KEIF) to provide significant support to the New Deal on Energy for Africa, which aims to achieve universal access to energy.

 

The signing, which took place on Tuesday, May 22, 2018 during the Korea-Africa Economic Cooperation (“KOAFEC”) meeting at the African Development Bank’s Annual Meetings in Busan, builds on the 2016 KOAFEC Ministerial Conference, which recognized enhancing access to energy as a strategic factor for the modernization and transformation of African economies. The Facility will contribute towards Africa’s efforts to achieve universal access to energy and to transform its energy systems.

Under this Facility, the Bank will take the lead in project development in close consultation with Regional Member Countries. Korea stands ready to provide US $600 million over a period of five years in both concessional and non-concessional finance for a variety of energy operations that will support the provision of electricity for homes, schools, hospitals, agriculture and industries. The Facility will support the full range of activities – preparation, construction and operations, through a mix of financing and technical assistance.

Korea also signed a Memorandum of Understanding with Power Africa during the same event underlining its intention to support the African power sector, notably transmission-line infrastructure. The African Development Bank is a founding partner of the United States-led Power Africa initiative and envisages working closely with Korea and Power Africa.

African Development Bank President Akinwumi Adesina thanked the Government of Korea for its longstanding support to the AfDB and to the African continent and welcomed Korea’s support for the New Deal on Energy for Africa (link is external) through this Facility, which he said would be “an important contribution towards achieving universal energy access in Africa.”

Korea’s Deputy Prime Minister and Minister of Strategy and Finance, Dong Yeon Kim, stressed that “Africa is struggling with shortage of power which is why Korea strongly supports the Light up and power Africa High 5 of the African Development Bank including through the Korea-Africa Energy Investment Facility.”

The Bank and the Government of Korea will work on the detailed implementation arrangements over the coming weeks to be able to effectively support projects as early as the end of 2018.

Technical contact: Daniel Schroth, Advisor to the Vice-President, d.schroth@afdb.org

#AfDBAM2018

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Wild Fusion has been named one of the top digital agencies in the world

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Wild Fusion has been named one of the top digital, creative and marketing agencies in the world by Clutch, the leading B2B rating and review platform.

 

The new report by Clutch highlights the top-performing creative and digital agencies in 14 industries across several countries. The industries are automotive, business services, dental, e-commerce, education, financial services, financial technology, healthcare, hospitality, legal, nonprofit, real estate, and retail.

Nigerian digital marketing agency, Wild Fusion has been named one of the top creative and marketing agencies in the world across 14 industries, according to Clutch, a global rating platform.

About the award, Abasiama Idaresit, CEO, Wild Fusion , said, “We are honoured to be featured on this elite list of world-class agencies. We continue to lead through digital innovation and our expertise in social and digital marketing. This further proves that we are on the right path of prosperity for Nigeria and Africa.”

Click here to read more: Africa’s Wild Fusion Named Top Non-Profit SEO Company by Clutch

 

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Interesting facts about Nestoil Group and EPCC services in Nigeria 

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Nestoil is Nigeria’s largest indigenous Engineering, Procurement, Construction and Commissioning (EPCC) Company in the Oil and Gas sector. Nestoil group is divided into 4 categories:

 

  • Nestoil
  • IMPAC Engineering
  • B&Q Dredging
  • Energy Works Technology (EWT)
  • Hammakopp Consortium

 

Nestoil

Nestoil was incorporated in 1991. Nestoil is Nigeria’s largest indigenous Engineering, Procurement, Construction and Commissioning (EPCC), Oil and Gas Engineering Company

 

IMPAC Engineering

 

IMPAC Engineering  has over 18 years of experience offering a broad range of engineering services and consultancy services, which include, but not limited to: feasibility studies; concept/basic design; Front End Engineering Design (FEED); Detailed Engineering Design (DED) and project and construction management in the energy industry.

 

B&Q Dredging

B & Q Dredging is an indigenous dredging company incorporated in 2005.They provide specialized engineering services in the following areas: Dredging, Flood and Erosion Control, Shore Protection and Consolidation, Sand filling of road embankments, River Crossing, Sweeping of Wellheads Slots and Access Channels

Energy Works Technology (EWT)

 

Energy Works Technology (EWT) is a private company incorporated in Nigeria in 1999. EWT’s capabilities include a full range of fabrication services for certified process packages and steel structures. Energy Works Technology (EWT) is a leading process Equipment Manufacturer, Steel Fabricator and Oil & Gas EPCI (Engineering Procurement Construction and Installation) service provider in Nigeria & West Africa.

 

Hammakopp Consortium

Hammakopp Consortium was incorporated in 1999 and are experts in developing projects.  They are experts in developing projects from the pre-feasibility phase through conceptual design and FEED studies, detailed design, procurement, construction and project management and implementation.It is one-stop-shop for Civil Construction, Maintenance & Fabrication, Environmental & Sewage treatment and other services in Nigeria.

 

Click here to know more about Nestoil

 

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Top 5 fastest African Growing Companies

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Wild Fusion

Wild Fusion is credited with kickstarting Nigeria’s Digital Marketing revolution. Established by Abasiama Idaresit, a Nigerian digital marketing showcasing business visionary and evangelist, Wild Fusion was one of the most punctual completely coordinated digital advertising organizations in sub-Saharan Africa. Wild Fusion, which was established with no outside venture, broadly helped a Nigerian independent company develop its incomes from $1,000 to $100,000 in a few months with imaginative Internet advertising. The organization administrations customers like Visa V +0%, Samsung, Vodafone VOD +0%, Pepsi and Unilever in Nigeria, Kenya and Ghana. Wild Fusion gains imaginative focuses for presenting and advancing digital advertising in Africa and for cand for disrupting traditional marketing across the continent. Numerous Nigerian and African organizations presently devote a greater amount of their spending limit to digital marketing.

TaxTim

Taxtim is a South African online virtual duty partner and assessment arrangement administration that enables you to finish expense forms rapidly and effectively without counseling with a physical duty expert. Tim, the virtual assessment colleague, asks clients basic, plain language questions, and dependent on the appropriate responses, Tim rounds out your arrival accurately, for a most extreme expense discount. Documenting government forms in South Africa can be a long and tiring procedure. TaxTim, with its computerized help gives an advantageous answer for citizens for a yearly expense of $20. Marc Sevitz, a certified Chartered Accountant and charge expert, and Evan Robinson, a designer and programming engineer in 2011, established TaxTim.

Rasello

Rasello, founded by Tanzanian software entrepreneur Natalino Mwenda, is a cloud-based Customer Relationship Management (CRM) tool that lets business owners interact and manage customer records, automate customer retention and communication. 
You add your clients; Rasello automatically identifies customers who need birthday reminders, loyalty programs, service cycle renewals, etc. 

The software can be used via devices such as PCs, tablets, and smartphone

Triggerfish

Triggerfish is Africa’s biggest Computer Generated (CG) movement organization. It was established in 1996 as a boutique stop-outline activity studio and begun by creating TV plugs for South African organizations. In 2001, the organization created liveliness for the principal season of Takalani Sesame Street, the South African rendition of kids’ TV show Sesame Street. Triggerfish has likewise created activity for the U.S Sesame Street. A year ago, the Cape Town-based liveliness studio created its first element film, Adventures of Zambezia, a motion picture that recounts to the tale of a youthful, gullible yet rich hawk who leaves the barren desert where he lives with his dad in quest for activity and experience in the renowned feathered creature city of Zambezia. The motion picture was screened in any event 25 unique nations and pulled in over $22.1 million, as indicated by film industry magic. Triggerfish wins inventive focuses for utilizing innovation to empower imagination in structure the best movement studio in Africa.

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