R/€ = 15.96 Change: -0.26
R/$ = 14.16 Change: -0.27
Au 1324.86 $/oz Change: -2.51
Pt 1079.50 $/oz Change: 0.50


DCD focus on saving lives in route clearance

     23rd August 2016 South Africa-based route clearance specialist DCD Protected Mobility (DCD PM) will showcase its market-leading range of landmine detection vehicles and mine-resistant personnel carriers at the African Aerospace and Defence Show near Pretoria from 14 to 18 September. Part of the DCD Group, a major... 

Thor completes transformational acquisition of Nigerian gold project

By: Henry Lazenby     19th August 2016 Vancouver-based exploration junior Thor Explorations has closed a transformational acquisition of the Segilola gold project, considered the most advanced gold project in Nigeria. According to the TSX-V-listed company, the project holds a compliant indicated mineral resource of 555 000 oz at a... 

Uber mulls new South African services as it expands African footprint 

By: Irma Venter     19th August 2016 There is “huge scope” for Uber to grow in South Africa, says Uber sub-Saharan Africa GM Alon Lits. “My wife and I have one car. I Uber to work every morning and I always drive past all of these cars in traffic with single occupants. I want each and every one of these drivers to switch to Uber.” 

$1bn Nigeria power plan delayed on scarce gas

By: Bloomberg     19th August 2016 Transnational Corporation (Transcorp) of Nigeria has suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for the project. The company in 2014 said it... 

Uber mulls new South African services as it expands African footprint

By: Irma Venter     19th August 2016 There is “huge scope” for Uber to grow in South Africa, says Uber sub-Saharan Africa GM Alon Lits. “My wife and I have one car. I Uber to work every morning and I always drive past all of these cars in traffic with single occupants. I want each and every one of these drivers to switch to Uber.” 

African auto body lobbies Nigeria on industry development

By: Irma Venter     17th August 2016 A delegation from the African Association of Automotive Manufacturers (AAAM), led by chairperson Jeff Nemeth, is visiting the Nigerian capital, Abuja, with the aim of creating a framework for policy development that will support the growth of the Nigerian automotive industry. Nemeth is also the... 

Cushman & Wakefield expands sub-Saharan footprint

By: Megan van Wyngaardt     15th August 2016 Real estate services firm Cushman & Wakefield has entered into an exclusive affiliate arrangement across sub-Saharan Africa with holding company Excellerate Property Services. The new venture, which will be branded Cushman & Wakefield Excellerate, provides an integrated platform serving the... 

First secretary-general appointed for African research body

By: Mia Breytenbach     12th August 2016 Vice-Chancellor of the University of Ghana professor Ernest Aryeetey has been appointed as secretary-general of the African Research Universities Alliance (Arua) to drive a collaborative initiative formed by research-intensive universities to strengthen research and postgraduate training on the... 

Power Up energy systems boost green development

By: Kimberley Smuts     12th August 2016 With construction expected to begin in September, specialised procurement company Build Africa Corporation will supply its Power Up energy systems to 480 luxury-living housing units in the Acorn Creek complex in Somerset West, in the Western Cape. “This is the largest green residential... 

South Africa beats Nigeria as Africa’s largest economy

By: African News Agency      11th August 2016 South Africa is once again the African continent’s top economy, beating close competitor Nigeria. “For the past two years, Nigeria has claimed the top spot, but a re-calculation using current exchange rates has placed South Africa back on top,” reported the BBC. 

Top power firms say will turn Nigeria off if not paid

By: Reuters     11th August 2016 Nigeria's largest electricity companies will shut down power supplies unless the government pays longstanding bills it owes them and improves gas supplies, a joint statement said on Wednesday. In 2013, Nigeria – famous for blackouts – started selling parts of its moribund state electricity firm,... 

MTN takes heavy H1 knock, hopes to get back on track  

By: Natasha Odendaal     5th August 2016 MTN hopes to be over the worst as it battles its way out of a “perfect storm” that has led to one of the most difficult half-year periods the multinational telecommunications group has faced in its 22-year history. The JSE-listed group is now looking inwards as much as is feasible to find ways of... 

Oando targets return to profitability; H1 loss narrows

By: Megan van Wyngaardt     2nd August 2016 Nigeria-based energy group Oando is targeting a return to profitability for the 2016 financial year, after its after-tax loss for the six months ended June 30, narrowed 23% to N27-billion, compared with a loss of N35-billion in the first half of 2015. This followed on a loss of N56.57-billion in... 

Pinsent Masons To Launch In South Africa

     29th July 2016 International law firm Pinsent Masons has announced plans to launch an energy and infrastructure-focused practice in Johannesburg, South Africa. The firm has appointed two founding partners to launch the office. Rob Morson joins from Bowman Gilfillan where he was Head of Construction and is... 

Political turbulence overshadowing Egypt’s efforts to increase mining’s share of GDP

By: Ilan Solomons     29th July 2016 Egypt, which seeks to grow its mining sector’s contribution to the country’s gross domestic product (GDP), has become Africa’s second-largest economy after Nigeria, pushing South Africa into third place on the continent. This is according to data released by multilateral organisation the... 

MTN prepares for Nigeria listing 

By: Natasha Odendaal     28th July 2016 JSE-listed MTN Group is targeting a 2017 Nigeria bourse listing for its Nigeria-based operations – a move that will be reliant on suitable market conditions. The group is set to embark on preparations for the NSE listing as and when it is "commercially and legally" possible, with a management... 

Mobile ecosystem adds $150bn to Africa’s economy 

By: Natasha Odendaal     26th July 2016 The mobile ecosystem is now adding in excess of $150-billion – 6.7% of gross domestic product (GDP) – to Africa’s economy, as mobile subscribers pass the 500-million mark and new opportunities for consumers, businesses and governments are unlocked, a new GSMA study shows. The Mobile Economy:... 

Africa one of only two regions achieving FDI project growth – EY

By: Anine Kilian     25th July 2016 Sub-Saharan Africa remains one of the fastest growing regions in the world according to advisory firm EY’s 2016 Africa attractiveness programme, entitled Staying the course. This is reflected in the foreign direct investment (FDI) levels in 2015, where FDI project numbers increased by 7%. 

Chamber disputes veracity of Unctad underinvoicing claim 

By: Martin Creamer     25th July 2016 The Chamber of Mines of South Africa (CoM) on Monday noted with concern the report published by the United Nations Conference on Trade and Development (Unctad) in which it was asserted that South Africa’s commodity exports were being underinvoiced. Prominent international news media have carried... 

Manufacturers to exploit emerging automotive markets

By: Nadine James     22nd July 2016 Original-equipment manufacturers (OEMs) are aiming to expand their client bases and establish automotive manufacturing facilities in emerging market economies, owing to the current saturation in European and US automotive markets, says auditing and consulting firm KPMG. KPMG industrial and... 

South Africa draws up plans for gas-generated power

By: Sebastian Whyle     22nd July 2016 In South Africa’s search for viable long-term gas import partners to meet demand in the power sector, Nigeria has been identified as a strong contender, owing to its large natural gas reserves, says professional services firm KPMG.  

Africa to stand as a collective at upcoming Habitat III – Human Settlements official

By: Natasha Odendaal     20th July 2016 Standing together as a continent will ensure a stronger position at the United Nations’ (UN’s) upcoming third Conference on Housing and Sustainable Urban Development (Habitat III). Discussing the common position and shared vision to be adopted by Africa, Department of Human Settlements (DHS)... 

MTN Nigeria wins 2.6 GHz auction, commits to continued investments in Nigeria’s broadband infrastructure

     20th July 2016 The Nigerian Communications Commission has declared MTN as winner of its latest auction for a ten-year frequency spectrum licence for the 2.6GHz band, which guarantees superior performance for wireless networks, especially 4G LTE services. The NCC had earlier confirmed that ‎MTN's bid was in full... 

Imperial’s Health Initiatives Working For Good In Africa

     19th July 2016 As a major sponsor of AIDS 2016, the international AIDS conference being held in Durban from the 18th to 22nd of July, Imperial believes in improving and facilitating healthcare across Africa. Says Dr Iain Barton, Imperial’s Group Business Development Executive for Healthcare, “it is vitally... 

Misinvoicing causing countries to lose up to 67% export earnings – UN

By: Anine Kilian     18th July 2016 Some commodity-dependent developing countries are losing as much as 67% of their exports, worth billions of dollars, to trade misinvoicing, according to a new study by the United Nations Conference on Trade and Development (Unctad). Trade misinvoicing is thought to be one of the largest drivers... 

Don't let corruption, State capture, recolonise Africa – Phosa

By: News24Wire      18th July 2016 Africa is re-colonising itself through corruption, nepotism, and state capture, former African National Congress treasurer-general Mathews Phosa has warned. “Such a second wave of colonialism would, in my view, be as bad as the first one, when Africa was colonised politically and economically,”... 

Nigeria Signs Landmark Agreement With Ipp Consortium To Address Power Deficit Through Commisioning Of 300mw Of Renewable Solar Power

     18th July 2016 On Thursday 14 July 2016 in London a consortium consisting of Nigus Greenergy [Nigeria] and Volt Renewables [South Africa] signed a landmark agreement with the Government of Nigeria for the development commissioning and operation on an IPP basis of 300MW of Solar PV Power Plants. The Power Plants... 

Possible change in NDT training

By: Simon Sonnekus     15th July 2016 The harmonisation of second and third part assessment certification schemes found in the South African non-destructive testing (NDT) industry could result in continuous skills development and enhanced personnel competence, with companies and employees also retaining a stronger development... 

UJ student-designed electrical car in top 15 at Eco-Marathon Europe 

By: Irma Venter     14th July 2016 The University of Johannesburg (UJ) Voltronics team finished 15th at the Shell Eco-Marathon Europe, held in London, earlier this month. The team’s prototype battery-electrical vehicle finished ahead of teams from France, the Netherlands, Ireland, Turkey and Spain. 

Falling commodity prices, Chinese slowdown weigh on economic growth in sub-Saharan Africa 

By: Anine Kilian     11th July 2016 Sub-Saharan Africa’s (SSA’s) economy is likely to grow by 2.6% this year, says international trade credit insurer Coface.   It points out that commodity prices had plummeted 45% in two years, while the oil price had fallen almost 60% to around $50/bl, placing strain on countries that are heavily... 

African sales of oil brand rose in 2015, despite economic difficulties

By: Irma Venter     8th July 2016 The volume of Castrol oil sales in Africa increased by around 5% in 2015 compared with 2014, says Castrol Africa MD David Bouet. Despite the visible slump in the continent’s mining industry, the automotive and industrial markets are still ticking over, he notes. 

Event costs deter local companies

By: Robyn Wilkinson     8th July 2016 The lack of emphasis on local innovation seems to be reflected in the pricing scheme of the Power-Gen Africa event, which favours international currencies more than the local one, says solar solutions provider Microcare Solar Components marketing manager Gareth Burley. 

Event will catalyse power sector advancement

     8th July 2016 By bringing together over 2 000 stakeholders from across the power value chain – from generation through to end-users – Power-Gen Africa 2016 aims to facilitate networking and knowledge sharing that catalyses power sector advancement across the continent, says energy consultancy firm EON... 

Integrated LNG import and natural gas facilities poised to meet energy demand

By: Robyn Wilkinson     8th July 2016 Consulting, engineering, procurement and construction services provider Black & Veatch liquefied natural gas (LNG) technologies VP Shawn Hoffart and power generation technologies VP and director Alap Shah will discuss the benefits of maximising the synergies of combined LNG import and natural... 

Turner & Townsend turns to Kenya

By: Creamer Media Reporter      7th July 2016 Global construction and management consulting firm Turner & Townsend has taken another step in its African growth and expansion strategy by launching an office in Kenya. As growth in Africa, and in particular East Africa, increased, it provided Turner with a “major catalyst” for its own growth... 

Eyes on Africa in Aecom strategy shift 

By: Natasha Odendaal     7th July 2016 Professional and technical services firm Aecom planned to leverage its extensive base in South Africa to expand its presence across Africa in a strategy that could see the company’s revenue from the continent doubling from $150-million in the next few years. Speaking on the sidelines of a... 

Kogi feasibility confirms technical, economic viability of Agbaja

By: Natasha Odendaal     6th July 2016 ASX-listed Kogi Iron has confirmed the technical and economic viability of its Agbaja iron-ore and steel project, in Nigeria, following the conclusion of a feasibility study. In addition to the positive and robust results, the study enabled an opportunity to further refine and optimise the... 

Petrol price increase to hit South African pockets

By: African News Agency      4th July 2016 Motorists will be digging deeper into their pockets as the petrol price will increase by between eight and 11 cents a litre on Wednesday. This increase follows a 52 cent increase per litre in June, a 12 cents increase in May, and an 88 cents increase in April. 

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