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Business Development 

World Bank and IMF, help #StopTheBleeding of Africa’s wealth!

As the World Bank and the International Monetary Fund (IMF) hold their Spring meetings in Washington, DC, billions of dollars due to African nations are illicitly leaving the continent. Africans Rising for Justice, Peace and Dignity, an emerging pan-African citizens’ movement, condemns the World Bank’s and IMF’s lack of action on and complicity in illicit financial flows from Africa and calls on them, as well as African governments and regional bodies, to act to #StopTheBleeding of African wealth now. According to the Economic Commission for Africa, illicit financial flows from…

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World Bank promises Malawi US$50 million to maintain areas affected with floods

Alister SmithLilongwe. February 14: The World Bank has assured of assisting the country with US$50 million to help in maintaining areas that were affected by floods.

 Minister of Finance, Goodall Gondwe said,’’ The Bank decided to help the country having considered the diverse impact of the flooding and the desperate need for a quick response.’’

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World Bank Approves $340 Million for Africa Hydro-Power Project

The World Bank said its board approved $340 million of financing for a hydroelectric project intended to provide electricity to 62 million people in Rwanda, Tanzania and Burundi. The Regional Rusumo Falls Hydroelectric Project has a total cost of $468.6 million and will eventually have generation capacity of 80 megawatts, according to a statement released today by the Washington-based bank. Each country is getting $113.3 million from the bank’s International Development Association unit, which offers zero-interest loans and grants to the poorest countries, it said. The so-called run-of-the-river project aims to…

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“A little knowledge is a dangerous thing. So is a lot”

By: Jennifer Fierberg Holding too much information and working closely with the government in Rwanda can be a lethal combination. This was evidenced again on Monday when the body of Theogene Turatsinze was found after having been missing since Friday night in Mozambique. Sources held report that he had been abducted by unknown assailants and was never seen alive again.  The cause of his death has been unofficially declared as drowning but the official cause of death is still being investigated. His hands were found bound behind his back and…

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