Connect with us
Anglostratits

Business

Ghana: African Development Bank approves $23.04 million for modern Floating Dock Facility

Published

3 years ago

on

Floating Dock

The Board also authorized the syndication, on a “best efforts basis”, of additional financing of up to $11 million

ABIDJAN, Ivory Coast, June 21, 2023/APO Group/ — 

The Board of Directors of the African Development Bank (http://www.AfDB.org) has approved a $23.04 million loan to Prime Meridian Docks AssetCo Ltd (PMD), a special purpose entity to co-finance the construction of a modern floating dock ship repair facility in Ghana’s western Takoradi port.

The loan will support the company to design, build, operate and maintain a world-class ship repair and maintenance facility in the Gulf of Guinea under a 25-year concession granted to the company by the Ghana Ports and Harbours Authority.

The project, estimated to cost $137 million, will involve constructing a 200-meter jetty, dredging 300,000 cubic meters of rock in the port basin, and procuring and installing a 13,500-tonne lift capacity floating dock. The facility will also have offices, a warehouse, mechanical workshops for steel and pipe fabrication, electrical works, blasting and painting, and equipment maintenance.

The Board also authorized the syndication, on a “best efforts basis”, of additional financing of up to $11 million.

Vessel repair and maintenance is an underserved market on the continent

Commenting on the approval, Mike Salawou, Director for Infrastructure, Cities and Urban Development of the African Development Bank, said: “Vessel repair and maintenance is an underserved market on the continent. Investing in it will provide a more holistic approach to supporting maritime transport and its sustainability, which will accelerate regional integration and attract international trade and economic activity.” 

PMD is a Ghanaian company founded and headed by Mr. Stanley Raja Korshie Ahorlu, sponsor of the project. The African Development Bank’s approval and facility is a “culmination of many years of dedication and commitment and an endorsement of PMD’s drive to transform Africa’s maritime sector,” stated Ahorlu.

The African Development Bank’s hard currency long-term financing for the project will enable it to create over 400 permanent jobs – 15% of which are expected to go to women. This is significantly above the global average of 2% in the maritime sector.

The construction of the floating dock will enhance the resilience of the ocean economy in Ghana and mitigate the carbon footprint from an expected increase in vessel flow, promoting the use of renewable energy, energy efficiency and slow vessel steaming. This aligns with the International Maritime Organization’s best practices and Ghana’s Nationally Determined Contributions, making the project Paris Aligned.

The project aligns with the African Development Bank’s Country Strategy Paper for Ghana (2019-2023) to increase private sector investment in the real sector. It contributes to job creation, bridging inequality gaps and supports the overall macroeconomic stability in Ghana while mainstreaming various crosscutting issues into the bank’s interventions.

The project further aligns with the national ambition of Ghana to become a hub for shipping and petroleum operations in West Africa. By enhancing the supply of maritime maintenance and repair services, the project will help minimize transport and logistic costs and time, resulting in increased mobility and connectivity and boosting Ghana’s competitiveness.

Skills transfer is a significant development outcome of the project. The project’s operations/technical and commercial management operator will train staff in its Aberdeen training institute, and a partnership will be developed with the Regional Maritime University in Tema, Ghana, throughout the project’s life.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Related Topics:
Continue Reading
Advertisement

Business

Radisson Blu Hotel & Convention Centre, Kigali celebrates ten years of shaping Kigali

Published

3 hours ago

on

July 27, 2026

By

Radisson Blu

Since opening in 2016, the landmark property has welcomed world leaders, international organizations, multinational companies, major sporting events, cultural celebrations and thousands of delegates from around the world

KIGALI, Rwanda, July 26, 2026/APO Group/ —Radisson Blu Hotel & Convention Centre, Kigali (https://apo-opa.co/4fWFuxi) recently celebrated its tenth anniversary, marking a decade as one of Rwanda’s most recognizable hospitality and events landmarks and a key contributor to the country’s rise as a leading Meetings, Incentives, Conferences and Exhibitions destination in Africa.

 

Since opening in 2016, the landmark property has welcomed world leaders, international organizations, multinational companies, major sporting events, cultural celebrations and thousands of delegates from around the world. Beyond its role as a hotel and events venue, it has become a symbol of Rwanda’s ambition, innovation and continued transformation.

The anniversary was celebrated under the theme, “Celebrating a Decade of Excellence, Innovation and Community Impact,” through a programme of activities recognizing the people, partnerships and progress behind the property’s success, while setting the direction for its next decade.

This milestone reflects the dedication of our teams, the confidence of our partners and the strong vision that continues to drive Rwanda’s hospitality sector forward

The anniversary programme was built around three flagship pillars. Legacy Week featured a ten-day celebration highlighting the property’s contribution to Rwanda’s growth. The Legacy Gala brought together approximately 350 stakeholders and partners, while the KCC Impact Programme included a series of community and sustainability initiatives held before and after the anniversary celebrations.

As part of the programme, Radisson Blu Hotel & Convention Centre, Kigali delivered a series of legacy initiatives reflecting its commitment to sustainability, community engagement, employee wellbeing and talent development. Activities included the planting of 100 trees, community outreach with SOS Children’s Villages, a Youth Career Day for future hospitality talent, employee wellness activities and long-service recognition for team members.

The celebrations also included the launch of a “10 Years of Impact” documentary, sharing the history and evolution of the property, alongside a dedicated media programme highlighting its contribution to tourism, employment, business events and Rwanda’s wider economy.

“Over the past ten years, Radisson Blu Hotel & Convention Centre, Kigali has played an important role in strengthening Rwanda’s position as one of Africa’s leading destinations for business tourism and international events. This milestone reflects the dedication of our teams, the confidence of our partners and the strong vision that continues to drive Rwanda’s hospitality sector forward. We are proud of what has been achieved and remain committed to supporting the country’s tourism ambitions, developing local talent and creating meaningful value for the communities in which we operate,” said Sandra Kneubühler, Managing Director, Sub-Saharan Africa, Radisson Hotel Group.

“While this milestone allowed us to reflect on everything that has been achieved, our focus remains firmly on the future. We look forward to building on this strong foundation, creating new opportunities for our people and partners, and continuing to deliver memorable experiences for guests and delegates from Rwanda and around the world,” said Nice Uwase, Acting General Manager, Radisson Blu Hotel & Convention Centre, Kigali.

The tenth anniversary reinforced Radisson Blu Hotel & Convention Centre, Kigali’s position as a national icon, a platform for international engagement and a catalyst for the continued growth of Rwanda’s hospitality and business tourism sectors.

Distributed by APO Group on behalf of Radisson Hotel Group.

 

Continue Reading

Business

Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

Published

3 days ago

on

July 24, 2026

By

Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

Continue Reading

Energy

Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

Published

3 days ago

on

July 24, 2026

By

African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

Distributed by APO Group on behalf of Energy Capital & Power.

Continue Reading

Trending