R/€ = 16.24 Change: -0.08
R/$ = 14.34 Change: -0.10
Au 1187.46 $/oz Change: -7.46
Pt 790.50 $/oz Change: -14.57


Four Brics and a briquette

By: Riaan de Lange     10th August 2018 The headline of this article sounds a bit like a 1960s band. A popular music band. A pop band. But, alas, it is no band – it is what should be an honest reflection of what the world knows as Brics, an acronym for Brazil, Russia, India, China, and South Africa. Bric came into existence in 2008 and... 

AECOM continues to secure major infrastructure contracts in East Africa

By: Creamer Media Reporter      7th August 2018 Integrated infrastructure delivery company AECOM continues to secure major contracts in East Africa through its Nairobi office. This forms part of a concerted strategy to target transportation, water, and power projects in Ethiopia, Uganda, Rwanda, Tanzania, and Kenya. A major advantage for AECOM... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Centamin's core earnings beat expectations, shares rise

By: Reuters     2nd August 2018 Gold miner Centamin's quarterly core earnings topped market expectations as lower-than-estimated mine site costs and inventory-driven sales volumes offset a drop in production. Shares of the Egypt-focused company climbed 4% in morning trading on the London Stock Exchange. 

Ethiopian Nile dam manager found shot dead in his car

By: Reuters     27th July 2018 The project manager of a $4-billion Ethiopian dam was found shot dead in his car on Thursday, police said. "We have confirmed that engineer Simegnew Bekele was shot dead," Zeinu Jemal, head of Ethiopia's Federal Police Commission, told reporters. "He had a bullet wound behind his right ear,"... 

SA varsities deserve a pat on the back

By: Martin Zhuwakinyu     27th July 2018 Two international university rankings published in the last couple of months had me thinking about a perception index released by consultancy firm Ipsos in January, which revealed that South Africans are in a league of their own apropos of their perceptions of key scenarios in the country, with... 

Egypt hikes gas prices by up to 75% in IMF-backed austerity plan

By: Reuters     23rd July 2018 Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75%, the latest move in an IMF-backed austerity programme that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public transport prices that... 

Kenya to lower age limit on used-vehicle imports to promote local assembly

By: John Muchira     20th July 2018 Kenya has decided to reduce the age limit of used vehicles allowed into the country to promote local assemblers, who are struggling to increase sale of new vehicles in a market choking with imports. Industrialisation Cabinet Secretary Adan Mohamed said that Kenya is on the verge of reducing the... 

Telecom Egypt, Liquid Telecom sign MoU to complete fibre network from Cape Town to Cairo

By: Reuters     16th July 2018 Telecom Egypt has signed a memorandum of understanding with Liquid Telecom to enable the Pan-African group to complete Africa’s terrestrial fibre network stretching across the African continent, the companies said on Saturday. Liquid Telecom, a subsidiary of Econet Wireless Global, has been... 

Egypt wants $500m from World Bank

By: African News Agency      11th July 2018 Egypt’s Ministry of Investment and International Cooperation has held discussions with the World Bank for an additional $500-million loan for the country’s social housing projects targeting low-income households, according to an official ministry statement. The discussions were held on Tuesday... 

Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

By: Simone Liedtke     3rd July 2018 China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China... 

Mondi says completes acquisition of Egypt's NPP in Egypt

By: African News Agency      21st June 2018 Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis. NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into... 

Egypt appoints new minister of defence in new Cabinet – State television

By: Reuters     14th June 2018 Egypt has appointed a new minister of defence in a cabinet sworn in on Thursday by President Abdel Fattah al-Sisi to mark the start of his second term in office. Mohamed Ahmed Zaki Mohamed was named minister of defence, replacing Sedki Sobhi. 

Nissan announces expansion plans in Africa, Middle East & India

14th June 2018 Nissan Motor Co., Ltd. unveiled a major expansion strategy in the Africa, the Middle East and India region today as part of the company’s six-year midterm plan, Nissan M.O.V.E. to 2022. Nissan aims to build on its strengths in markets including South Africa, India, the United Arab Emirates, Egypt... 

Nissan announces Africa, Middle East and India expansion plans

By: Nadine James     13th June 2018 Nissan on Wednesday unveiled a major expansion strategy in the Africa, the Middle East and India region as part of the company’s six-year midterm plan. The automotive manufacturer aims to build on its strengths and “solid profit margins” in markets including South Africa, India, the United Arab... 

TMH invests R500m into South African rail manufacturing facility

By: Simone Liedtke     13th June 2018 As part of its international growth strategy, Russian rolling stock manufacturer Transmashholding (TMH) on Wednesday launched its R500-million investment in a South African manufacturing facility through its newly acquired subsidiary, TMH Africa. TMH Africa, which is 70% owned by TMH and 30%... 

South Africa’s ratification of TFTA to solidify regional integration – DTI

By: Marleny Arnoldi     13th June 2018 The ratification of the Tripartite Free Trade Area (TFTA) agreement by South Africa will send a strong signal of the country’s commitment to regional integration, Trade and Industry Africa multilateral economic relations chief director Wamkele Mene told members of the Portfolio Committee on Trade... 

Open letter to Safa president

By: Martin Zhuwakinyu     8th June 2018 Dear Dr Danny Jordaan Congratulations on your recent election for another term at the pinnacle of South African football administration. If there had been any doubt that you are a darling of our football-loving nation, it would have evaporated in the wake of your landslide victory – 234 out of... 

Cairo West natural gas and heavy fuel oil-fired thermal power plant renewal project, Egypt

By: Sheila Barradas     8th June 2018 Cairo Electricity Production Company is renewing four existing power generation boilers at the Cairo West natural gas and heavy fuel oil-fired thermal power plant. 

Event to inspire industry to think differently – organisers

By: Jessica Oosthuizen     1st June 2018 Global events company Terrapinn will host the twenty-first annual Africa Rail exhibition and conference at the Sandton Convention Centre, in Gauteng, on June 12 and 13, which it believes will encourage the African railway industry to innovate and think differently. Africa Rail is the meeting... 

Infrastructure development key to meeting consumer demand in megacities – economist

By: Marleny Arnoldi     31st May 2018 There are rapidly growing megacities, including Accra, Cairo, Lagos, Johannesburg, Nairobi and Kinshasa, in Africa, and it is important to ensure infrastructure development grows at a pace that will meet the increasing consumer demand that will come out of these megacities, said Imara Africa... 

Egypt to spend $1.4bn over two years to develop electricity grid

By: Reuters     30th May 2018 Egypt has set aside 25-billion Egyptian pounds (around $1.4-billion) to be spent over two years on developing the country's electricity network, the electricity minister said on Wednesday. The minister, Mohamed Shaker, told reporters the government had agreed on a loan worth 60-billion Kuwaiti... 

Africa50, Green Climate Fund, and AfDB to Develop Solar Projects in the Sahel through the Desert to Power Program

28th May 2018 On the margins of the African Development Bank annual meetings, the heads of Africa50, the Green Climate Fund (GCF), and the African Development Bank (AfDB) signed an agreement to collaborate on the Desert to Power Program for solar projects in the Sahel. Alain Ebobisse, CEO of Africa50 stressed... 

Centamin lowers FY18 production guidance

By: Anine Kilian     25th May 2018 Aim-listed Centamin's share price on the LSE fell by more than 15% on Friday after the miner lowered its production guidance for the full year to between 505 000 oz and 515 000 oz. It had previously expected to produce 580 000 oz of gold for the full year, however, it said in a statement on... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     25th May 2018 Egypt, Ethiopia and Sudan will establish a scientific study group to consult on the filling of the reservoir behind The Grand Ethiopian Renaissance Dam. 

Telecom Egypt bags $200m financing facility to buy undersea Internet cable

By: African News Agency      23rd May 2018 The African Export-Import Bank (Afreximbank) said on Wednesday that it will commit up to $200-million to Telecom Egypt (TE) in a bid to enable the telecommunication company finance working capital and investments in its infrastructure. The agreement for the short-term dual tranche facility would... 

Mondi Q1 performance strong despite maintenance shutdowns, challenging trading conditions

By: Marleny Arnoldi     16th May 2018 Paper and packaging multinational Mondi achieved an underlying profit of €295-million for the first quarter ended March 31 – a 15% improvement on the underlying profit of €256-million reported for the first quarter of 2017 and a 6% improvement on the €279-million reported for the fourth quarter... 

Cement plant maintenance crucial

By: Jessica Oosthuizen     11th May 2018 Strategic and effective cement plant maintenance services can increase plant productivity and reduce costs, says furnace and industrial services company The Dickinson Group sales manager Brighton Mapiku. “By doing thorough cement plant maintenance, which includes proper planning, employing... 

Egypt signs MoU with China's GCL for $2bn solar panel factory

By: Reuters     10th May 2018 China's GCL Group has signed a memorandum of understanding (MoU) with Egypt's ministry of military production to build a solar panel facility at a cost of up to $2-billion, State-run newspaper Al-Ahram reported on Thursday. Under the MoU, which was signed on Wednesday, the facility will... 

Economic mobility in developing countries has stalled for the last 30 years – World Bank

By: Anine Kilian     9th May 2018 Economic mobility has been impeded in developing countries over the last 30 years, says the World Bank in its ‘Fair Progress? Economic Mobility across Generations Around the World’ report, released on Wednesday. The report, which tracks economic mobility between parents and their children through... 

Africa is opportune for energy, smart solutions development – Schneider Electric

By: Marleny Arnoldi     8th May 2018 Automation and energy management multinational Schneider Electric on Tuesday revealed its strategy for the African continent and how it relates to creating smart cities – taking cognisance of challenges and opportunities.  

Economist predicts growth for African countries

By: Marleny Arnoldi     4th May 2018 The tide has turned for many African countries in terms of growth, says Citibank Africa economist David Cowan.  

Centamin reports higher Q1 earnings, strong production

By: Marleny Arnoldi     3rd May 2018 Gold miner Centamin’s first-quarter results have provided a “solid” foundation to build upon throughout this year, says CEO Andrew Pardey.  

Mondi Group signs an agreement to acquire NPP in Egypt

By: African News Agency      1st May 2018 International packaging and paper group Mondi said on Monday it had signed an agreement to acquire 100% of the outstanding shares in Egypt's National Company for Paper Products and Import & Export for EGP510-million on a debt and cash free-basis. NPP is a privately owned industrial bags... 

Mondi to acquire Egyptian industrial bags producer for €23.7m

By: Simone Liedtke     30th April 2018 International packaging and paper group Mondi will acquire Egyptian privately owned industrial bags producer National Company for Paper Products and Import & Export (NPP) for €23.7-million. The transaction is subject to customary closing conditions and is expected to complete during the first... 

Global crude steel production up 4% y/y in March

By: Marleny Arnoldi     25th April 2018 World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 148.33-million tonnes in March – a 4% increase compared with production for March 2017.  

Global wind body sees South African market returning to ‘full health’ in 2018

By: Terence Creamer     25th April 2018 The Global Wind Energy Council (GWEC) expects the South African wind market to return to “full health” in the coming year, following more than two years of uncertainty. The council’s latest Global Wind Report, which deals with market developments for 2017, notes that the South African renewable... 

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