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Relegation of S Africa to ‘junk’ credit status a swelling threat 

By: Natalie Greve     12th May 2015 South Africa could not afford a further investment ratings downgrade, as this would impact on the price of foreign lending, shorten the lending term and, once at “subinvestment grade”, narrow the quantum of lending provided, economists warned on Tuesday. “There is nothing good associated with a... 

Renewable Energy Independent Power Producer Procurement Programme – third window, nationwide, South Africa

     20th March 2015 An update on the Renewable Energy Independent Power Producer Procurement Programme – third window. 

Business confidence largely stagnant in Q1

By: Natalie Greve     10th March 2015 South Africa’s Business Confidence Index (BCI), as measured by the Bureau for Economic Research (BER) and Rand Merchant Bank (RMB), slipped two index points to 49 in the first quarter of the year, revealing mixed perceptions of the current business environment by those in the building,... 

PetroSA Ghana clinches $150m credit facility in difficult market

     5th March 2015 South Africa’s national oil company PetroSA, through its subisidiary PetroSA Ghana, has secured a seven-year $150-million reserve-based lending credit facility with a consortium of banks. PetroSA CFO Lindiwe Bakoro said the company was pleased to close this transaction in a difficult market, as... 

Renewable Energy Independent Power Producer Procurement Programme – third window, South Africa

     27th February 2015 An update on the Renewable Energy Independent Power Producer Procurement Programme – third window. 

Resgen reveals possible financiers for Boikarabelo construction

By: Megan van Wyngaardt     26th February 2015 South Africa-focused coal miner Resource Generation (Resgen) on Thursday revealed that it was in negotiations with FirstRand Bank, acting through its Rand Merchant Bank division, HSBC Bank - Johannesburg Branch, the Industrial Development Corporation, Noble Resources International and Export... 

Gautrain rapid rail link, South Africa

     16th January 2015 No specific method, timeline or costs have been finalised yet to remedy the water ingress, excessive to contractual specifications, into the Gautrain tunnel. 

Construction started on hydro project

     12th December 2014 Hydropower developer NuPlanet Project Development achieved financial close and started construction last month on the 4.5 MW Stortemelk hydro project near Clarens, in the Free State. The project, which was awarded preferred bidder status under bid window two of the government’s Renewable Energy... 

Petra BEE partners refinance loan

By: Natasha Odendaal     25th November 2014 Petra Diamonds’ black economic-empowerment (BEE) partners have secured refinancing from Absa Corporate and Investment Banking and FirstRand Bank, through Rand Merchant Bank (RMB), to settle the R1.08-billion in loans due to Petra following Senakha Mining Investments, Thembinkosi Mining... 

Stortemelk hydro project, South Africa

By: Sheila Barradas     21st November 2014 NuPlanet achieved financial close and HAS started construction on the Stortemelk hydro project, near Clarens, in the Free State. 

New Hydro Power Project Commences Construction South Africa

     5th November 2014 Hydro-power developer NuPlanet Project Development Pty Ltd has achieved financial close and started construction on the 4.5 MW Stortemelk Hydro Project near Clarens in the Free State Province, South Africa. The project, which was awarded Preferred Bidder status under Bid Window 2 of the South... 

Construction of $900m gas-fired power station to start soon in Ghana

By: Sashnee Moodley     31st October 2014 Financial agreement for Ghanian independent power producer (IPP) Cenpower Generation Company’s $900-million, 350 MW combined-cycle gas-turbine power plant was finalised earlier this month, paving the way for the project’s construction to begin before 2015 in Tema, Ghana. 

Kpone independent power plant project, Ghana

     17th October 2014 Cenpower has announced the financial close of the required $900-million in project finance for the Kpone independent power plant project. 

Solar energy; the power to empower

     10th October 2014 With an abundance of natural sunshine and wide open horizons South Africa is the ideal location for harnessing solar energy, and Solairedirect is taking the lead with the completion of Vredendal’s first photovoltaic solar power plant, and a second solar power plant in Aurora due for completion by... 

Cenpower announces financial close of $900m Ghana power plant

By: Natalie Greve     3rd October 2014 Cenpower Generation, a special-purpose vehicle created to develop the Kpone independent power plant (KIPP), in the Tema industrial zone, in Ghana, has announced the financial close of the required $900-million in project finance. Once it came on stream in 2017, the KIPP project would be the... 

Kathu solar photovoltaic plant project, South Africa

     19th September 2014 The Kathu solar photovoltaic park has been described as one of the largest solar projects worldwide, incorporating single-axis tracking technology. 

Africa’s investment shine dulls in 2014 – report 

By: Natalie Greve     10th September 2014 A recent report by Rand Merchant Bank (RMB) has revealed a drop in Africa’s investment attractiveness ratings in 2014, with 22 countries receiving lower scores than last year. The fourth yearly ‘Where to Invest in Africa 2014/15 – A Guide to Corporate Investment’ report showed that some of the... 

Business confidence rises in Q3

By: Leandi Kolver     9th September 2014 In its first noticeable rise in more than a year, the Rand Merchant Bank (RMB) and Bureau for Economic Research (BER) Business Confidence Index (BCI) increased by five points to 46 in the third quarter of the year, indicating that just shy of 50% of respondents felt that prevailing business... 

Paul Lapham

     22nd August 2014 Main Activity of the Company: Acquiring, managing and developing residential properties in Gauteng Date and Place of Birth: February 10, 1970, Johannesburg Education: Matric, Saint Stithians; BCom (Hons), University of the Witwatersrand; CA(SA) First Job: Wearing a dragon suit at the horse races... 

Group Five secures R4bn EPC contract in Ghana

By: Natasha Odendaal     21st August 2014 JSE-listed Group Five on Thursday said it had secured a three-year R4-billion engineering, procurement and construction contract for the design and build of a 350 MW gas- and oil-fired combined cycle power plant in Ghana. Ghana-based Cenpower Generation would issue the notice-to-proceed to... 

Company receives $50m financing

By: David Oliveira     27th June 2014 Freight and logistics services provider Grindrod Freight Services partnered with infrastructure investment company Pembani-Remgro-Infrastructure Fund to form Mauritius-based rolling stock leasing company GPR Leasing Africa, in January. Financial institution Rand Merchant Bank (RMB) was appointed... 

Bank cites labour tensions as it again cuts SA’s growth outlook 

By: Terence Creamer     11th June 2014 The World Bank has made a further material downward revision to South Africa’s growth outlook for 2014, citing tense labour-market conditions as a key reason, along with weak electricity supply and tighter monetary policy. The bank’s latest Global Economic Prospects (GEP), released a day after... 

RMB/BER warns SA might be in ‘technical recession’

By: Leandi Kolver     10th June 2014 The Rand Merchant Bank (RMB) and Bureau for Economic Research (BER) business confidence index (BCI) remained unchanged at a low 41 points during the second quarter of the year, indicating that 60% of the survey respondents continued to be unhappy with prevailing business conditions. Events that... 

Letsatsi and Lesedi solar photovoltaic projects, South Africa

     30th May 2014 SolarReserve has announced the completion of the Lesedi and Letsatsi projects. 

Rand hits three-month high on US jobs data

By: Reuters     7th April 2014 The rand hit a three-month high against the dollar on Friday, gaining in a knee-jerk reaction to a US jobs report that slightly missed market expectations, taking bond yields lower. South Africa's currency hit its strongest in the session after a US labour report showed the world's biggest... 

Transnet secures R3bn loan for locomotives 

By: Sapa     28th March 2014 Transport parastatal Transnet has secured a R3-billion loan for its rail contract to manufacture 1064 locomotives, it said on Friday. "Transnet successfully concluded a loan facility amounting to R3-billion early this week with FirstRand Bank, Rand Merchant Bank, China Construction Bank... 

Construction industry in slow recovery – lecturer

By: Natalie Greve     28th March 2014 Industry adviser and University of Cape Town lecturer Dr Johan Snyman has described the current construction industry cycle as “atypical”, with research suggesting that the sector remains in a post-recessionary recovery phase. “Studies have found that the recovery phase [of the construction... 

Department of Energy peaker projects, South Africa

     14th March 2014 The Dedisa and Avon peaking power projects were named the Euromoney Project Finance Magazine’s Africa Power Deal of the Year for 2013 in February this year. 

Business confidence edged lower in Q1

By: Leandi Kolver     11th March 2014 Six out of ten respondents in a survey conducted by Rand Merchant Bank (RMB) and the Bureau for Economic Research (BER) were unhappy with prevailing business conditions, the RMB/BER first quarter Business Confidence Index (BCI) has shown. The BCI fell by two points to 41 during the first three... 

IPP peaking projects win Euromoney Africa Power Deal of the Year award

By: Leandi Kolver     26th February 2014 The Department of Energy’s R9.7-billion independent power producer (IPP) peaking projects, Avon and Dedisa were last week named the winners of the Euromoney Project Finance Magazine’s Africa Power Deal of the Year for 2013 award. The financing for the IPP peaking projects was facilitated by... 

IFC, bank launch R240m rental asset finance facility for SMEs

By: Natalie Greve     13th February 2014 After almost three years in the making, a recently ratified partnership between World Bank member the International Finance Corporation (IFC) and niche business bank Mercantile Bank has resulted in the establishment of a rental asset finance facility for South Africa-based small and medium-sized... 

Renewable Energy Independent Power Producer Procurement Programme – third round, South Africa

By: Sheila Barradas     24th January 2014 The State-owned Industrial Development Corporation has approved funding for five of the projects that qualified as preferred bidders in round three of the Department of Energy's Renewable Energy Independent Power Producer Procurement Programme. 

Bank wins bid for first biomass project in SA

By: Carina Borralho     13th December 2013 Financial services provider Rand Merchant Bank is financing a concentrated solar power (CSP) project and a biomass project awarded in round three of South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).  “This is the first biomass project to be awarded in the... 

RMB to fund $182m property development in Nigeria

By: Creamer Media Reporter      4th December 2013 Rand Merchant Bank (RMB) has committed to jointly fund a $182-million A-grade office development in Lagos, Nigeria, which should be completed by March 2016. The Wings Oando Development, consisting of two high-rise office towers on Victoria Island, between Lagos Island and the Lekki Peninsula, saw... 

Gautrain rapid rail link, South Africa

By: Creamer Media Reporter      29th November 2013 An arbitration tribunal has ordered the Bombela Concession Company to undertake immediate remedial work on the Gautrain tunnel section between Johannesburg Park Station and Emergency Shaft 2 to halt the inflow of water into the tunnel. 

Business confidence remains at low levels in Q4

By: Creamer Media Reporter      19th November 2013 After falling by four index points in the second quarter and by a further six points in the third quarter of the year, the Rand Merchant Bank (RMB)/Bureau for Economic Research (BER) Business Confidence Index (BCI) “essentially flat-lined” in the final months of the year, the organisations said... 

S Africa group provides funding for Golden Rim’s Burkina Faso study

By: Creamer Media Reporter      8th November 2013 Australian firm Golden Rim Resources may bring in RMB Resources – which is part of South Africa’s Rand Merchant Bank – as a funding partner for its gold project in Burkina Faso. Golden Rim announced on Friday that it had signed an indicative term sheet with RMB Resources for RMB Australia... 

Northern Cape solar power plant secures R2.8bn of funding  

By: Natalie Greve     29th October 2013 In a significant show of support for South African renewable-energy projects, the European Union’s (EUs) long-term lending institution, the European Investment Bank (EIB), has agreed to provide €210-million, or R2.8-billion, for the construction of the Ka Xu Solar One concentrated solar power... 

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