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LafargeHolcim Q2 profit beats forecasts, new CEO to join early

By: Reuters     26th July 2017 LafargeHolcim posted slightly better-than-expected second-quarter results on Wednesday as the world's biggest cement maker sought to put a scandal over payments to armed groups in Syria behind it. The Franco-Swiss company reported adjusted operating profit of 1.735-billion Swiss francs... 

Opec moves to cap Nigerian oil output, boost compliance

By: Reuters     24th July 2017 Opec moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. Opec has agreed with several non-Opec producers led by Russia to cut oil output by a combined 1.8-million... 

The mountains are high and the emperor is far away

     24th July 2017 In a time before emails, global social media and instant communication, local officials in the vast Chinese empire, could easily disregard the policies and wishes of the capital on the basis that “the mountains are high and the emperor is far away”. One could scarcely think that such an insular... 

South Africa makes surprise recovery in 2017 reputation index

By: Terence Creamer     21st July 2017 Despite ongoing political turmoil and an increase in policy uncertainty, South Africa made a surprise recovery in the 2017 edition of a global reputation study, rising four places to 45 out of 71 countries measured. Unveiling the results of the latest Country RepTrak study, which has been... 

RICH HARVEST

     21st July 2017 Nigeria’s Dangote Group, which is controlled Aliko Dangote, Africa’s richest man, revealed earlier this month that it plans to invest more than $4-billion in agriculture over the coming three years. Bloomberg reports that the company plans to increase its production of sugar to 1.5-million tons a... 

Africa's major central banks embarking on policy easing cycle ride

By: Reuters     20th July 2017 Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related... 

Russian nuclear giant in MoU with Africa’s young nuclear professionals

     19th July 2017 Russian energy group Rosatom today signed a Memorandum of Understanding on support and cooperation with the African Young Generation in Nuclear organisation, at the POWER-GEN & DistribuTECH Africa conference and exhibition in Sandton. Rosatom, participating in a one-day Nuclear Forum at POWER-GEN... 

Holcim to wind up Nigerian company next month

By: Reuters     18th July 2017 Holcim Nigeria plans to pass a resolution next month to dissolve the company after its Swiss-based parent firm merged with French rival Lafarge two years ago, the cement maker said on Tuesday. Holcim Nigeria is now part of Lafarge Africa following a mega-merger in 2015 to create the world's... 

Oil climbs as firm demand absorbs ample supply

By: Reuters     18th July 2017 Oil rose on Tuesday as demand soaked up some of the surplus supplies from Opec and the United States, but traders said the market was trading in a tight range and showed few signs of big short term moves. Benchmark Brent crude LCOc1 was up 70 cents at $49.12 a barrel by 1150 GMT, while US light... 

US seeks to recover $144m in Nigeria oil industry bribery case

By: Reuters     17th July 2017 The US Justice Department on Friday filed a lawsuit seeking to recover assets that include a $50-million Manhattan apartment and an $80-million yacht that it said were bought using money generated from a scheme to pay millions of dollars in bribes to a former Nigerian oil minister. The civil... 

Australian products showcased at event

By: Robyn Wilkinson     14th July 2017 Following the establishment of Australia-based industrial solutions provider HMA Group’s South African subsidiary, the company is looking forward to showcasing its diverse offering at this year’s POWER-GEN & DistribuTECH Africa. 

Fast, affordable power key for oil and gas producers

     14th July 2017 Given the financial constraints facing the oil and gas industry, the ability to rapidly access affordable power generation that does not tie up capital could be what is needed to jump-start exploration and development activities across Africa, says energy solutions provider APR Energy regional... 

Nigeria to put off deciding whether to join OPEC cuts, minister says 

By: Reuters     13th July 2017 Nigeria supports OPEC's efforts to stabilize oil prices, but it wants to wait before deciding whether join the cartel's cuts in oil production, its oil minister said on Wednesday. "Hopefully, in the next two to three months we can see how predictable the production return has been and then can... 

Sub-Saharan Africa mobile users to exceed 500m by 2020

By: Anine Kilian     12th July 2017 More than 500-million people across sub-Saharan Africa will be subscribed to a mobile service by the end of the decade, a new report shows. The report ‘The Mobile Economy: Sub-Saharan Africa 2017’, which was published by GSMA on Wednesday, forecasts that the number of unique mobile subscribers in... 

Opec sees lower demand for its oil in 2018, points to surplus

By: Reuters     12th July 2017 World demand for Opec's crude will decline next year as US shale producers and other rivals pump more, Opec said on Wednesday, suggesting the oil market will see a surplus in 2018 despite an Opec-led output cut. In a monthly report, the Organization of the Petroleum Exporting Countries forecast... 

Gas ‘would power SA growth’

     12th July 2017 A gas economy could significantly drive South African economic growth, and the discovery of substantial natural gas reserves in the Karoo would be akin to finding gold and sparking a new gold rush, speakers said at the opening of the 4th annual Africa LPG Summit and Natural Gas & CNG Africa Forum... 

Dangote Cement aims to double size of Africa plants in three years

By: Reuters     12th July 2017 Nigeria's Dangote Cement plans to invest about $4-billion in the next two to three years to nearly double its production capacity in Africa, a senior executive told Reuters on Tuesday. Edwin Devakumar said the company was seeking to expand across the continent to hit annual production of about... 

Nigerian university expansion project receives AfDB loan

By: David Oliveira     7th July 2017 The African Development Bank (AfDB) last month signed agreements for a corporate loan to finance the expansion of Afe Babalola University (ABUAD) in Ado Ekiti, Nigeria. The expansion project consists of the construction of new facilities – including a 400-bed teaching hospital, an industrial... 

London court hears Vedanta's challenge to Zambian villagers' pollution claim

By: Reuters     6th July 2017 London's Court of Appeal began hearing legal arguments on Wednesday into whether Zambian villagers have the right to make a claim for damages for environmental pollution in the English courts against miners Vedanta Resources and its Zambian subsidiary Konkola Copper Mines (KCM). The companies are... 

Nigeria Cabinet approves national gas policy

By: Reuters     5th July 2017 Nigeria's cabinet has approved a national gas policy that aims to reduce the country's dependence on crude oil by increasing gas exploration and facilities, the oil ministry said in a statement. The policy was passed in last week's cabinet session but only made public on Wednesday. 

Nigerian State oil firm says saved $2bn with cheaper contracts

By: Reuters     4th July 2017 Nigeria's state oil company has saved $2-billion in the past year by renegotiating its upstream servicing contracts, it said in a statement on Tuesday, as it tries to reduce high overheads. The Nigerian National Petroleum Corporation (NNPC) is attempting to revive the oil industry on which the... 

Mining Indaba offering new junior zone, boosting interface opportunities 

By: Martin Creamer     4th July 2017 Strong new thrusts are planned for next year’s Investing in African Mining Indaba, which is scheduled to take place at the Cape Town International Convention Centre from February 5 to 8, once again to support investment in mining companies operating in Africa and to provide an effective platform... 

Transnet insists bond appetite remains as it again lowers capex forecast 

By: Terence Creamer     3rd July 2017 State-owned logistics group Transnet has sought to refute reports that demand for its bonds had collapsed following the recent downgrades to South Africa’s credit rating, insisting that appetite for its bonds remains strong both domestically and internationally. CFO Garry Pita said the reports... 

Nigeria's State oil company agrees $700m joint venture – NNPC

By: Reuters     30th June 2017 Nigeria's State oil company said on Thursday it had agreed a joint venture to cover the more than $700-million cost of developing new oil fields in its southern Niger Delta energy hub. The Nigerian National Petroleum Corporation (NNPC) said it had a tripartite agreement with local energy firm... 

SAAF shows off fire power and capabilities during yearly demonstration

By: Dylan Slater     30th June 2017 The South African Air Force (SAAF) showcased its air power capability to delegates and foreign airforce personnel during its yearly Air Power Capability Demonstration 2017 (APCD 2017) event – a live fire capability demonstration held at the Roodewal Weapons Range near Polokwane, in Limpopo,... 

Strong South African air traffic growth forecast

By: Keith Campbell     30th June 2017 The International Air Transport Association (IATA) has forecast that the number of air passenger journeys to, from and within South Africa will more than double from the 23.6-million last year to more than 54-million by 2036. This will be the result of an average annual growth rate in the... 

Mobile technology transforming Africa, manufacturing needs to step up

By: Anine Kilian     28th June 2017 Mobile technology has been a transformative factor for various sectors across Africa and could bolster the manufacturing industry across the continent, according to former GE Africa senior leader Vishal Agarwal. Addressing the Manufacturing Indaba in Kempton Park on Wednesday, Agarwal noted that,... 

Africa's richest man may quit Ethiopia over mining dispute

By: Bloomberg     23rd June 2017 Dangote Cement, controlled by Africa’s richest man, Aliko Dangote, said it may shut its operations in Ethiopia if authorities in the central state of Oromia don’t reverse an order to cement makers to hand over control of some parts of their businesses to local young people. Oromia state’s East... 

Kenya joins Africa Finance Corporation

By: Megan van Wyngaardt     21st June 2017 Kenya is the latest country to become a member of Pan-African multilateral development finance institution, the Africa Finance Corporation (AFC).   Kenya is the AFC’s fifteenth member and its third East African member after Rwanda and Uganda. The other members are Cabo Verde, Chad, Côte d’Ivoire,... 

Demand for welders decreases as power stations near completion 

By: Victor Moolman     16th June 2017 Owing to major projects, such as the Medupi and Kusile power stations, nearing completion, the South African Institute of Welding (SAIW) says fewer welders have enrolled for its training courses in the past year. 

Africa’s rail development key to growth in intra-Africa trade

By: Natasha Odendaal     14th June 2017 A lack of efficient rail infrastructure and a rail “disconnect” were inhibiting dealings within the continent and contributing to struggling intra-African trade growth, Common Market for Eastern and Southern Africa-Alliance for Commodity Trade in East and Southern Africa trade and market director... 

Brainworks seeks JSE listing to strengthen liquidity

By: Megan van Wyngaardt     13th June 2017 Mauritius-based holding company Brainworks, which has a diversified Zimbabwe-based investment portfolio, has made a submission to the JSE to list on its main board. The company, established in 2011, aims to be listed by the end of July. 

Attacq takes further steps to achieve Reit status

By: Megan van Wyngaardt     13th June 2017 JSE-listed property developer Attacq on Monday said it was adopting an income distribution strategy, aimed at taking it one step closer to gaining real estate investment trust (Reit) status, which includes the reduction of existing debt facilities using the proceeds from the disposal of its... 

Erin Energy targets Oyo-9 drilling completion by year-end

By: Megan van Wyngaardt     12th June 2017 The start of drilling operations at dual-listed Erin Energy’s Oyo-9 development well, in Nigeria, are planned for July, with a targeted completion date before year-end. This follows the signing of a $15-million drilling contract with Pacific Drilling, in March, for the use of its sixth-generation... 

Company wins $157m boiler contract

     9th June 2017 India-based energy and environmental engineering solutions company Thermax has won export contracts from an undisclosed leading African conglomerate to supply four utility boilers, eight heat recovery steam generators and two flue gas steam generators for its upcoming refinery and petrochemicals... 

Earth observation satellites starting to bring benefits to mining sector

By: Keith Campbell     2nd June 2017 At last month’s International Symposium on Remote Sensing of the Environment, held at the Council for Scientific and Industrial Research (CSIR), in Pretoria, one of the very many topics addressed was the use of remote sensing, particularly from earth observation (EO) satellites, to support the... 

Local commercial and general aviation sector under policy pressures

By: Keith Campbell     2nd June 2017 The commercial and general aviation (GA) sector in South Africa is currently facing significant challenges that really need to be addressed if it is to remain healthy over the coming years. So cautions the Commercial Aviation Association of Southern Africa (Caasa). The association is concerned... 

Local commercial and general aviation sector under policy pressures

By: Keith Campbell     2nd June 2017 The commercial and general aviation (GA) sector in South Africa is currently facing significant challenges that really need to be addressed if it is to remain healthy over the coming years. So cautions the Commercial Aviation Association of Southern Africa (Caasa).  

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