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Reuters

Kenya's Centum to finalise power plant funding this year

13th June 2018 Kenya's Centum Investment Company said on Wednesday a $2-billion, 1 000 MW coal-fired power plant it has a stake in is expected to reach financial close this year. The Amu Power consortium that includes Centum, won a contract to build the plant in Lamu. The project has attracted criticism from... 

Q2 business confidence falls six points to 39 – RMB/BER

13th June 2018 A South African business confidence index fell in the second quarter by six points, a survey showed on Wednesday, a sign the economy was struggling amid hopes that President Cyril Ramaphosa would help revitalise the country and attract investment. The Rand Merchant Bank (RMB) business confidence... 

MTN aims to launch mobile service in Namibia around August

13th June 2018 MTN Group, Africa's biggest mobile telecoms firm, is aiming to launch a mobile service in Namibia around the end of August, a company executive told Reuters. Currently state-owned operator MTC dominates in Namibia, a country of two-million people. 

Hancock Prospecting discloses nearly 20% stake in Atlas Iron

13th June 2018 Australian billionaire Gina Rinehart's Hancock Prospecting group of companies disclosed on Wednesday a 19.96% stake in Atlas Iron, heating up the race for the small iron-ore miner. Hancock Prospecting Pty Ltd holds a 14.97% stake in Atlas, while Hancock's unit Redstone Corporation will have a... 

WTO chief warns of global downturn if trade dispute escalates

13th June 2018 If the trade conflict between the United States and other countries intensifies, it could negatively impact the global economy and there are indications this is already happening, the head of the World Trade Organization warned. Asked if there was a risk for the global economy, WTO... 

Brazil court rejects Alunorte bid to overturn forced output cuts

12th June 2018 A court in the Brazilian state of Para denied a bid by Norsk Hydro ASA to appeal the partial suspension of bauxite refining operations at its Alunorte unit in another blow to the world's largest alumina refinery. In February, the court in Para, where the Alunorte refinery is located, ordered the... 

Brazil pension fund Funcef still considering sale of Vale stake

12th June 2018 Brazilian pension fund Funcef is still considering whether to sell its stake in mining company Vale SA but sees no immediate urgency to do so, its director Paulo Werneck said on Tuesday, as funds try to avoid putting pressure on Vale shares. Speaking to journalists on the sidelines of a... 

Brazil overhauls decades-old mining law to lure investment

12th June 2018 Brazil's President Michel Temer issued two decrees on Tuesday overhauling 50-year-old mining laws in attempt to draw investment to the sector and implementing rules on the collection of higher mining royalties. The changes to the 1967 mining code include measures to allow for mining titles to be... 

IMF says South Africa should spell out land reform plans to remove uncertainty

12th June 2018 The International Monetary Fund (IMF) said on Tuesday that the South African government should clearly articulate its land reform plans in order to lift uncertainty weighing on investor sentiment. South Africa's ruling African National Congress has said it plans to redistribute land without... 

PetroSA's GTL refinery could run out of natural gas in two years

12th June 2018 South Africa's flagship gas-to-liquids (GTL) refinery at Mossel Bay could run out of natural gas within two years when offshore reserves dry up, a senior energy official said on Tuesday. The Mossel Bay GTL plant, one of the world's largest, is operated by State-owned national oil and gas company... 

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