R/€ = 14.46 Change: 0.01
R/$ = 13.57 Change: 0.04
Au 1203.20 $/oz Change: 3.08
Pt 959.00 $/oz Change: 4.00


Shanta Gold achieves record production, costs at New Luika

By: Megan van Wyngaardt     19th January 2017 East Africa-focused gold producer Shanta Gold on Thursday reported that it had beaten full year guidance on both cost and volume at its New Luika gold mine (NLGM), in southwest Tanzania. This follows record gold production of 87 713 oz for the year ended December 31, at an all-in sustaining cost... 

Uganda wraps up financing talks for $400m for expressway

By: Reuters     18th January 2017 Uganda has concluded talks with the European Union, the French Development Agency and the Africa Development Bank (AfDB) on them jointly financing $400-million of a planned $1.1-billion expressway, a senior government official said on Wednesday. The three will provide the $400-million in a mix of... 

Trial mining starts at Edenville’s Rukwa coal project

By: Megan van Wyngaardt     12th January 2017 Trial mining has started at Edenville Energy’s 120 MW Rukwa coal-to-power project, in Tanzania. The project hosts 171-million tons of measured and indicated coal, sufficient to support a power station over a 30-year project life. 

Africa is poised for sustainable growth and development. But there are risks

     9th January 2017 As we know, growth accelerations are pretty commonplace among developing countries. Economist Ricardo Haussman and his colleagues identified 83 growth accelerations of eight consecutive years at 2% higher than the five-yearly average between the mid-1950s and early 2000s. But most growth... 

Uganda solar PV project on track

By: Megan van Wyngaardt     21st December 2016 Multinational independent power producer Building Energy on Wednesday said it could proceed with the construction of the 10 MW Tororo solar photovoltaic project ins Uganda, as it reached financial close with Dutch development bank FMO for $14.7-million. The project’s shareholders will attribute... 

Shanta ‘strikes gold’

By: African News Agency      17th December 2016 Shanta Gold, the Aim-listed East Africa-focused gold miner, said on Friday that the underground development had intersected first mineralisation at the Bauhinia Creek deposit on Thursday. CEO Toby Bradbury said the New Luika gold mine remained on track to commence first excavation of ore in the... 

Edenville Energy mulls most viable power plant route

By: Natasha Odendaal     14th December 2016 A host of proposals from various engineering, procurement and construction (EPC) companies has enabled Edenville Energy to carefully review options for the most financially viable route to build a power plant at its Rukwa coal-to-power project, in Tanzania. The group on Wednesday said several... 

SYSPRO is Putting Down Roots with a New Office in Nairobi, Kenya

     9th December 2016 Global ERP service provider SYSPRO has opened a new office in Kenya to grow its footprint in the East African region and demonstrate its commitment to the company’s local partners and customers. According to Zaren Ramlugan, SYSPRO Channel Sales Manager for Africa, SYSPRO is delighted to finally... 

Coral discovery (Coral South) development project, Mozambique

By: Sheila Barradas     9th December 2016 The first-phase development of the Coral discovery has been approved by Eni. 

SASSDA Facilitates Cross Border Initiatives With Leading Kenyan Stainless Steel Fabricator

     5th December 2016 A sassda facilitated visit by one of its members, Kenyan-based stainless steel fabricator Desbro Engineering to a number of South African counterparts has resulted in a training partnership between the South African Institute of Welding as part of a joint initiative to boost the skills base... 

Edenville coal sampling results show power plant feed potential

By: Natasha Odendaal     5th December 2016 The latest sampling and wash test results are validating the initial positive results of the recent bulk sampling programme at the Rukwa coal-to-power project, in Tanzania, Aim-listed Edenville Energy said on Monday. The results from seam MK1, which followed closely on that of the seam MK2... 

Infrastructure-focused legal firm sets up Africa practice

By: Terence Creamer     5th December 2016 International law firm Pinsent Masons is formally establishing its African office in Johannesburg, from where it plans to pursue continental opportunities in the areasof infrastructure, energy and technology. The firm, which is domiciled in the UK, is a specialist infrastructure practice... 

BASF appoints new South Africa MD, country cluster head

By: Megan van Wyngaardt     1st December 2016 International chemicals company BASF has appointed Benoit Fricard South Africa MD and Southern Africa country cluster head. He joined the organisation in 2002 and most recently held the position of BASF South America performance materials director. 

Debt capital markets in Africa remain resilient, says Standard Bank

By: Megan van Wyngaardt     1st December 2016 A review of the continent’s activity in debt capital markets by financial services provider Standard Bank reveals continued growth in issuance, including the evolution of new asset classes, which speak well to both the resilience and future growth prospects of Africa’s debt capital markets. Debt... 

BASF South Africa announces the appointment of new Managing Director and Country Cluster Head for BASF in Southern Africa

     1st December 2016 BASF recently announced the appointment of Benoit Fricard as Managing Director of BASF South Africa and Country Cluster Head for Southern Africa. Fricard, who holds a Betriebswirt (FH) Diploma and a Master’s Degree in Economics as well as a MBA, joined the organization in 2002 and has... 

Seacom’s business unit gains traction 

By: Natasha Odendaal     30th November 2016 Pan-African telecommunications firm Seacom has gained better-than-expected momentum in its quest to grow its enterprise segment, with the well received establishment of the second unit opening up the East African market. The business unit, which launched its full set of business offerings to the... 

AfDB appoints new regional director-generals to roll out business plans

By: Megan van Wyngaardt     25th November 2016 The African Development Bank (AfDB) has appointed Dr Tonia Kandiero as DG of its Southern Africa regional development and business delivery office, effective December 1. The office forms part of the AfDB’s new business approach to accelerate its business and development impacts across the continent. 

Gold from woodchips, grease, mine muck surprises on upside 

By: Martin Creamer     21st November 2016 The recovery of gold from mine waste at Goldplat Recovery in Benoni generates a surprisingly high level of revenue while simultaneously protecting the environment and providing hundreds of valuable jobs. The London Aim-listed Goldplat, a bona fide junior producer from secondary material, last... 

Zanzibar Amber Resort project, Tanzania

By: Sheila Barradas     18th November 2016 The project involves the construction of a resort that will host an array of premium residency options. 

Shanta receives $5.25m silver streaming payment

By: Anine Kilian     17th November 2016 East Africa-focused gold producer Shanta Gold has received an advanced payment of $5.25-million as part of a silver streaming agreement (SSA) with privately held Guernsey-based investment company Silverback. The SSA was signed in May. 

Pioneer Foods enters East African cereal market

By: Megan van Wyngaardt     16th November 2016 JSE-listed Pioneer Foods is acquiring a 49.8% interest in UK food processing company Weetabix’s East Africa distributing company. The Kenya-based company has been in operation for over 40 years and has about 13 brands in its portfolio. Last year, the business invested £1.6-million in a capacity... 

Ericsson’s latest Mobility report shows Africa’s IoT potential

By: Natasha Odendaal     16th November 2016 Africa’s reliance on mobile technology, as opposed to fixed-line technology, is a significant contributing factor in the rapid growth of mobile subscriptions, with the continent accounting for 15-million of the 80-million new mobile subscriptions recorded in the third quarter. Nigeria has led the... 

South Africa has most construction projects on continent – report

By: Megan van Wyngaardt     9th November 2016 South Africa continues to account for the most infrastructure and capital project activity in Southern Africa, at 48.2%, followed by Angola at 12.9% and Mozambique and Zambia at 10.6% each. South Africa also has the most projects, by country, in Africa, at 41 projects, Deloitte’s 'Africa... 

IFC study finds climate pact helped open up $23tn in emerging market opportunities

By: Creamer Media Reporter      8th November 2016 A study released on Tuesday by the International Finance Corporation (IFC), a member of World Bank Group, shows that the historic global agreement on climate change adopted in Paris last year helped open up nearly $23-trillion in opportunities for climate-smart investments in emerging markets... 

Sound planning, partnerships critical for success of Africa’s gas-to-power initiatives

By: Creamer Media Reporter      4th November 2016 Africa is home to one of the greatest future energy sources – gas. Continuous exploration and talks, combined with gas’s low carbon make-up, have paved the way for a potentially powerful emerging gas-to-power market.  However, bringing gas-to-power facilities on line involves a complex process of... 

Oil, gas activity in sub-Saharan Africa nosedives

By: Megan van Wyngaardt     2nd November 2016 As oil prices continue to plunge, capital investment budgets in the oil and gas industry in sub-Saharan Africa for the next five years have also been cut by $100-billion, Wood Mackenzie's latest report on upstream activity in the region reveals. Deepwater suffered the biggest capital expenditure... 

Japanese multinational signs East African geothermal development deals

     28th October 2016 Japanese conglomerate Toshiba Corporation has moved to expand its presence in the East African renewable-energy market by signing geothermal development deals with Ethiopia, Tanzania, Uganda and Djibouti. The memorandums of understanding (MoUs) that Toshiba signed with the four countries will see... 

HAZLETON PUMPS CEO and Founder wins prestigious AABLA Award as Industrialist of the Year for Southern Africa

     24th October 2016 The All Africa Business Leaders Awards (AABLA™) in partnership with CNBC Africa honour remarkable leadership and salute game changers of business on the continent for their continuing commitment to excellence, developing best practices and innovative strategies. CNBC Africa is proud to continue... 

KSB Pumps and Valves

     21st October 2016 Headquartered on the East Rand, KSB Pumps and Valves in an original-equipment manufacturer of technologically advanced pumps, valves and related products for sectors including water, sewerage, chemicals, petrochemicals, steel, mining, energy and building services. Since 1959, the company has... 

Reforesting Kilimanjaro would protect water supplies 

By: African News Agency      20th October 2016 There is a need to reforest Africa’s highest mountain to help protect vital water supplies that are under threat across large parts of East Africa, a UN Environment report has urged. The loss of Mount Kilimanjaro’s forests could trigger a water crisis as rivers begin to dry up, the report,... 

Shanta Gold sees robust third quarter

By: Anine Kilian     18th October 2016 After a robust operational performance, East Africa-focused gold producer, developer and explorer Shanta Gold on Tuesday reported cash generation of $11.1-million and a reduction in net debt – from $44-million to $38-million – for the quarter ended September 30. The company expected to deliver at... 

Hard currency availability a challenge for cross-border trade in Africa

By: Simone Liedtke     14th October 2016 An issue that has come into sharp focus for businesses in Africa is the shortage of available hard currency as most capital projects on the continent tend to be funded in US dollars although they may generate their revenue in local currency, says Export Credit Insurance Corporation of South... 

South Africa, Kenya ink investment MoU

By: Creamer Media Reporter      13th October 2016 South Africa and Kenya this week entered into a memorandum of understanding (MoU) on investment cooperation on the sidelines of a State visit to the East African country by South Africa’s President Jacob Zuma. Investment South Africa (ISA) and its counterpart Kenya Investment Authority... 

New Leadership announced at BASF West Africa Limited

     10th October 2016 The world’s leading chemical company, BASF recently announced that Dr. Jean-Marc Ricca has been appointed as its new Country Cluster Head for BASF in West Africa Limited. Dr. Jean-Marc Ricca joins BASF West Africa Ltd. after more than 26-years in the chemical industry and six years with BASF... 

Africa prospects should not be romanticised – Makhura

By: Natasha Odendaal     7th October 2016 While Africa may well be the current “centre of gravity” in terms of future prospects, the opportunities and prospects available must not be romanticised amid major challenges that are yet to be overcome. Africa has emerged as a pillar of growth and a leading emerging market – while major global... 

Ensuring uninterrupted service for energy sector pumps

     30th September 2016 Owing to the requirement for technologically advanced systems on modern-day renewable energy plants, in order to obtain every available kilowatt of power out of a plant and thereby ensure the utmost efficiency and the projects’ success, pumps, valves and related systems producer KSB Pumps and... 

Goodwin Pumps

By: Zandile Mavuso     30th September 2016 Having been supplying submersible slurry pumps across a wide range of commodities on the African continent since 1996, pumps manufacturer Goodwin’s Dirty Water High Head (DWHH) pump made its international debut at Electra Mining Africa this year. 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

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