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Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) is key to diversifying the regional economy away from its current reliance on export of raw commodities and to supporting economic growth and employment creation. There is broad acceptance that SADC... 

AfDB’s sustainable energy fund to support PV project in Lesotho

By: Mia Breytenbach     25th August 2017 The African Development Bank- (AfDB-) managed Sustainable Energy Fund for Africa (Sefa) has approved a $695 500 grant to NEO I SPV, a subsidiary of independent power producer OnePower Lesotho, to support the preparation of a bankable business case for the development of the winning project of the... 

Funds to go for BHP's jugular if miner doesn't deliver goods

By: Bloomberg     21st August 2017 BHP Billiton’s truce with activist investors led by billionaire Paul Singer won’t last long if the world’s biggest mining company doesn’t pump up returns and deliver on strategic reform in the wake of its expected bumper profit report this week. The naming in June of BHP’s youngest director Ken... 

RMB wins African Banker Investment Bank of the Year award

18th August 2017 Rand Merchant Bank (RMB) won the Investment Bank of the Year award for the fifth year running in the African Banker Awards 2017. The award is made by the African Banker magazine to the most innovative investment bank operating in Africa. RMB received the accolade at an award ceremony on 23rd May... 

Discovery CE scoops innovation award

By: Kim Cloete     18th August 2017 Discovery Group CE Adrian Gore has been awarded the 2017 Growth, Innovation and Leadership (GIL) Visionary Innovation Award: Africa 2017. He received the award from global research and consulting organisation Frost & Sullivan, which, this week, hosted its yearly GIL Africa summit, in Cape Town.... 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

Gupta firms sue Bank of Baroda to try stop account closures  

By: Bloomberg     17th August 2017 Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with... 

Central banks vital for Africa’s integration, says Zuma

By: African News Agency      15th August 2017 President Jacob Zuma has encouraged African central bank governors gathered in Pretoria for the 2017 Governors’ Symposium of the Association of African Central Banks (AACB) to explore ways to improve economic integration, including linking payment systems, across borders on the continent.... 

AfDB’s sustainable energy fund to support first utility-scale solar PV project in Lesotho

By: Mia Breytenbach     14th August 2017 The African Development Bank- (AfDB-) managed Sustainable Energy Fund for Africa (Sefa) has approved a $695 500 grant to NEO I SPV, a subsidiary of independent power producer OnePower Lesotho, to support the preparation of a bankable business case for the development of the winning project of the... 

Russian bank sees gold jumping to $1 400 on world tension

By: Bloomberg     14th August 2017 Gold prices are set to jump to a four-year high of $1 400/oz by the end of the year over mounting tensions between North Korea and the US, and surging demand in the world’s biggest consumers, according to the head of precious metals at a Russian investment bank. Bullion could rise to $1 360/oz... 

Brics development bank confirms Treasury DG as South Africa’s representative

By: Creamer Media Reporter      11th August 2017 The Brics New Development Bank (NDB) has appointed National Treasury director-general Dondo Mogajane as the new director representing South Africa. He is succeeding Tito Mboweni whose term of service as director expired in early July after two years. 

Wheaton Precious Metals hikes quarterly dividend 43% on sector-leading cash flow

By: Henry Lazenby     11th August 2017 Metals-streaming pioneer Wheaton Precious Metals (WPM) has increased its quarterly dividend by 43% to $0.10 a share, as its strong cash flow of $250-million during the first half of the year, combined with ample liquidity encouraged the board to return more cash to investors. Under the company’s... 

Small farms an economical option in South Africa

By: Robyn Wilkinson     11th August 2017 While many medium-sized farms have been unable to weather the challenges facing the South African agricultural industry and have consequently been absorbed by larger commercial farms, smaller farmers are proving that it is possible to generate a sustainable income from a modest operation through... 

Japan-Africa initiative to help improve electricity access on the continent

By: John Muchira     11th August 2017 Efforts to increase electricity access in Africa have received a major boost following the launch of the Japan-Africa Energy Initiative (JAEI). Through the JAEI, the Japanese government intends to provide up to $6-billion in both concessional and nonconcessional loans to support the New Deal on... 

Sibanye Gold continues its contrarian path with its purchase of a US mining company.

10th August 2017 Despite low commodity prices and political uncertainty in the mining sector, South African-based mining company Sibanye Gold announced in December last year that it had agreed terms to buy a little known US-based miner. The purchase of Stillwater Mining Company for US$2.2-billion, which was... 

Land Bank hikes FY17 profits to R372m

By: African News Agency      3rd August 2017 The Land and Agricultural Development Bank on Thursday, released a strong set of results for the financial year ending March 31, 2017, as the group and bank generated a profit of R372.2-million and R316.3-million respectively, compared to R181.9-million and R94-million in 2016. The bank said this... 

Cash-flush Randgold in massive Côte d’Ivoire gold discovery

By: Martin Creamer     3rd August 2017 The exploration team of Randgold Resources, which on Thursday reported a 53% leap in half-year profits, plus cash on hand of $572.8-million even after the $94-million dividend payout, has defined a large target in Côte d’Ivoire, which is considered to be “potentially the most exciting gold... 

INFRASTRUCTURE AFRICA Business Forum to provide solutions for Africa’s socio-economic challenges

3rd August 2017 The International Monetary Fund, after a visit to the country in June, warned South Africa that its economy “is extremely vulnerable to external shocks and funding shortfalls.” The Fund added that current political and domestic factors could exacerbate the situation, “especially if accompanied by... 

DBSA committed to funding infrastructure projects throughout SADC

By: Anine Kilian     1st August 2017 With low levels of electrification hindering economic growth and development in sub-Saharan Africa – where 78% of the population is reliant on biomass as their main energy source – $57-trillion will be required until 2030 to fund the continent’s infrastructure and energy projects, according to... 

Reserve Bank governor warns of deeper recession

By: African News Agency      1st August 2017 South African Reserve Bank governor Lesetja Kganyago warned on Tuesday that the country’s economic recession could deepen unless there was policy certainty on mining and agriculture, the two sectors that contributed to growth in the first quarter. “At the moment these two sectors are facing... 

Zim piling up gold, diamonds to back new currency – VP

By: News24Wire      31st July 2017 Zimbabwe Vice President Emmerson Mnangagwa says the cash-strapped Zimbabwe government is piling up reserves of gold and diamonds to back a new local currency. But he did not say when the new currency would be introduced. 

Platinum industry redoubling marketing efforts in the midst of oversupply

By: Ilan Solomons     28th July 2017 Marketing is immensely important for the platinum sector, which is battling a pervasive weak price environment, with the metal trading at about $925/oz, compared with the all-time high of $2 270/oz in 2008, and an oversupplied market. Marketing of the metal’s various uses has only increased in... 

US farm equipment maker looking to Africa for future growth

By: Dylan Slater     28th July 2017 US-based agricultural equipment manufacturer and supplier Agco is directing a large portion of its future growth potential into Africa, specifically South Africa, as a key market going forward.  

Freight of components can be tracked  

By: Victor Moolman     28th July 2017 To help control import costs and combat the volatile rand, import and working capital specialists Investec Import Solutions’ online client portal BlueLink, offers a complete end-to-end view of your entire import transaction on one platform from order placement through to delivery. 

AfDB in $2bn project finance pact

By: Mia Breytenbach     28th July 2017 The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have signed a landmark agreement to strengthen their partnership at country level and jointly contribute to $2-billion over the next three years to finance projects in agriculture, food security, renewable energy, small... 

Converging forces set to transform retail banking

27th July 2017 By Darrel Orsmond, Financial Services Industry Head at SAP Africa Banks need to build new capabilities and adapt quickly to emerging opportunities, threats 

INFRASTRUCTURE AFRICA Business Forum to provide solutions for Africa’s socio-economic challenges

27th July 2017 The International Monetary Fund, after a visit to the country in June, warned South Africa that its economy “is extremely vulnerable to external shocks and funding shortfalls.” The Fund added that current political and domestic factors could exacerbate the situation, “especially if accompanied by... 

Gold tires of political shock and bore with swings at decade low

By: Bloomberg     26th July 2017 As political leaders find ways to shock like never before, the world’s favourite haven investment hasn’t been calmer in years. In the past four months, gold prices moved in a 7.6% range, the least in 10 years, while 120-day volatility is at the lowest since 2005. That’s amid unprecedented... 

Petra eyes double-digit growth in FY18 production

By: Natasha Odendaal     24th July 2017 Diamond miner Petra Diamonds has tabled a production guidance for the 2018 financial year of between 4.8-million and five-million carats, up 23% on the year ended June 30, 2017, on the back of the continued roll-out of expansion programmes. With continual increases in production, the company set... 

Iron’s surge to $70 draws out sceptics as prices reverse

By: Bloomberg     21st July 2017 Iron-ore’s strong start to the second half and surge above $70 a metric ton will probably fade through the year-end as demand from top buyer China slows and global mine supplies remain robust, according to Sucden Financial and Bank Julius Baer & Co. “Any significant uptick in seaborne cargoes... 

Africa’s energy funding costs, capital access, risk profile under the spotlight

By: Natasha Odendaal     18th July 2017 Aligning power generation and distribution projects with the host country and government’s mandate is a step forward in attracting more internal and external financing to develop comprehensive energy and power infrastructure. This is one of the messages emerging from this year’s PowerGen Africa... 

Historic diamond hub feels the brunt as Americans buy fewer gems

By: Bloomberg     14th July 2017 An ugly year for diamonds in the vital US market is piling pressure on Europe’s historic center of the $80-billion global trade. Diamond trading companies in the Belgian port city of Antwerp, which has been the industry’s trading capital for five centuries, were already feeling the pinch from a... 

A 50-year-old hole in the wall transformation

By: Martin Zhuwakinyu     14th July 2017 Without question, the word that currently ranks, and undisputedly so, as the most overused word is ‘transformation’. Everything today has to be transformed; that is the fashion. As to what needs to be transformed, and then to what . . . well, that is quite a different matter. The risk of its... 

Malawi central bank seeks forex reporting system

By: Marcel Chimwala     14th July 2017 Malawi's central bank is inviting bids for the supply, installation and commissioning of a cross-border foreign exchange reporting system (CFERS) and for the supply and installation of a transformer and ring main unit. The bank is also looking to appoint a contractor to supply, install and... 

Tokwe Mukosi dam project, Zimbabwe

By: Sheila Barradas     14th July 2017 The Tokwe Mukosi dam is the largest artificial lake in Zimbabwe. 

McDonald’s launches new instore design 

13th July 2017 Food and beverage giant McDonald’s South Africa has unveiled its first newly built, revamped restaurant at Stoneridge shopping centre, in Johannesburg.  

Netshield SA ups the local fibre game with release of QSFP28 100G compatible transceiver module range

13th July 2017 Networking and fibre specialists looking to take their environment to the next level can now do so with the release of the Netshield QSFP 100G range of compatible transceiver modules, ideal for bandwidth intense networking environments, from Netshield South Africa a WestconGroup Southern Africa... 

Detour rounds up $500m bank debt facility

By: Henry Lazenby     11th July 2017 Intermediate Canadian mine Detour Gold has secured a $500-million senior secured credit facility with its existing bank group, the company announced on Tuesday. The debt facility comprises a four-year $300-million revolving credit facility and a $200-million term loan over three years. The bank... 

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