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Africa to get state-of-art HIV drugs for $75 per patient a year

By: Reuters     21st September 2017 Makers of generic AIDS drugs will start churning out millions of pills for Africa containing a state-of-the-art medicine widely used in rich countries, after securing a multi-million dollar guarantee that caps prices at just $75 per patient a year. Global health experts hope the deal will help... 

South Africa's AfriSam says merger offer for PPC 'fair'

By: Reuters     20th September 2017 South African cement maker AfriSam said on Wednesday a merger proposal valuing its rival PPC at $700-million was fair, suggesting it has no intention of sweetening its offer. Shares in PPC dropped 2.52% to R6.19 at 1314 GMT, but still well above a R5.75 per share valuation in AfriSam's proposal... 

7 Ways to ensure a data breach does not happen to you

     18th September 2017 By Fortinet global security strategist Derek Manky 143 million. The number of US consumers potentially affected by the recently announced credit services data breach is staggering. It’s nearly half the US population. And as a credit reporting service, this data includes names, addresses,... 

Africa's richest man joins race for South African cement firm

By: Reuters     14th September 2017 Africa's richest man Aliko Dangote has joined the race to buy South African cement maker PPC, which is already the subject of a takeover bid valuing the company at $700-million. Dangote Cement, which is controlled by Dangote and is the biggest cement maker in Africa with a capacity of nearly... 

Sulphurous fuels flow to West Africa as States defer tougher rules

By: Reuters     13th September 2017 Nigeria and several other West African States are not expected to implement rules banning imports of sulphur-heavy fuels until December 1 at the earliest after missing summer deadlines, drawing the ire of health campaigners pushing for cleaner air. Nigeria, Togo, Côte d'Ivoire and Benin promised... 

'Dodgy' articles in academic journals threatens integrity of South African science

By: News24Wire      13th September 2017 University scholars who publish their research in "dodgy" online scientific journals may be compromising their integrity in the new race to publish swiftly and prolifically, the Department of Higher Education and Training (DHET) acknowledged this week. The department was responding to queries... 

Nigeria's Shoreline Energy signs $300m gas deal with Shell

By: Reuters     11th September 2017 Nigerian energy company Shoreline has signed a $300-million agreement with the local unit of Shell to develop gas infrastructure around the commercial capital, Lagos, both companies said on Monday. Shell said in June that it would place more emphasis on gas rather than oil in the West African... 

Afe Babalola University expansion project, Nigeria

By: Sheila Barradas     8th September 2017 The Afe Babalola University plans to build new facilities and improve access to high-quality education for more than 10 000 students. 

Africa’s transport leaders drive free trade agenda

     6th September 2017 National development across Africa continues to support the commitment undertaken by the 54 members of the African Union in Addis Ababa, Ethiopia in November 2016 to create a continent-wide free trade area.  At the helm of this initiative is Africa’s transport sector, taking continuous strides to... 

Pioneer appoints new CEO as Roux retires

By: Creamer Media Reporter      1st September 2017 Phil Roux will retire as CEO of Pioneer Foods, effective October 1, but will continue to serve as strategic adviser to the company until November 30, 2019. Tertius Carstens, who is the business executive responsible for Pioneer’s essential foods division, will take over as CEO of the group on... 

Hyprop lifts distributions in FY17

By: Natasha Odendaal     1st September 2017 JSE-listed Hyprop on Friday posted a 12.1% hike in dividend to 695.1c a share for the financial year ended June 30. The real estate investment trust reported that distributable earnings benefited from the inclusion of R101.8-million in income from the investments in South-Eastern Europe, up from... 

Nigeria awards dam power plant contract to Chinese State firm again

By: Reuters     31st August 2017 Nigeria has approved the construction of a $5.8-billion hydroelectric power plant by a Chinese State firm, the power minister said on Wednesday, the latest in a series of Chinese deals since the project was first envisioned decades ago. The project, if completed, could provide a much needed... 

Ghost tomato factory showcase for Nigeria's farming problems

By: Reuters     30th August 2017 At a state-of-the-art plant in northern Nigeria, shiny machines stand next to a conveyor belt ready to crush tomatoes to satisfy the country's insatiable demand for tomato paste. But a lonely cleaner mopping the floor is the only sign of activity in Nigeria's biggest tomato factory, equipped with... 

Outgoing economic counsellor sees big ‘untapped’ US-SA economic potential

By: Terence Creamer     29th August 2017 The US Embassy’s outgoing Economic Counsellor, Laird Treiber, says there has been a steady stream of American investment into South Africa during his three-year tour and that, notwithstanding the current hiatus in investment activity, economic relations are poised to expand again, owing to the... 

New Transnet, DBSA finance scheme set up to support African rail exports

By: Terence Creamer     28th August 2017 State-owned entities Transnet and the Development Bank of Southern Africa (DBSA) have agreed to create a new facility that will extend favourable financing to African and Middle Eastern buyers of Transnet Engineering’s (TE’s) rail rolling stock and port equipment. The financing scheme will be... 

Cost cuts help Wal-Mart's South African arm Massmart

By: Reuters     24th August 2017 Massmart Holdings, the South African arm of Wal-Mart, reported a small rise in half-year earnings on Thursday, helped by cost cuts as cash-strapped shoppers spent warily. Diluted headline earnings per share (EPS) came in at 149.3 cents in the six months ended June, compared with 145.8 cents a... 

Shell says starts gas production at expanded Nigeria project

By: Reuters     23rd August 2017 Anglo-Dutch oil major Royal Dutch Shell has started gas production from the second phase of the Gbaran-Ubie project in Nigeria's Niger Delta, the company said on Wednesday. The project is an expansion of the Gbaran-Ubie development, which opened in June 2010. 

Infrastructure initiative garners support from nine African presidents

By: Natasha Odendaal     21st August 2017 Spearheaded by South Africa’s President Jacob Zuma, the Presidential Infrastructure Champion Initiative (PICI), aimed at accelerating regional trade and unlocking the economic potential of the continent, now has nine African presidents on board, with ten projects in the spotlight as Africa... 

Biofuels company launches franchise solution

     18th August 2017 Cape Town-based biofuel company Biogreen Diesel will start franchising its ‘Biodiesel & Research model’, to aid in the expansion of the industry and simultaneously increase awareness of biofuels in the region. The company, having made the announcement in June on its website, says it felt it had... 

Sustainable partnerships needed to ensure Africa’s food security

By: David Oliveira     18th August 2017 New approaches and sustainable partnerships are required to ensure food security for Africa’s rapidly urbanising population, says financial services provider Absa senior agricultural economist Wessel Lemmer. According to a January 2017 report by The Sustainable Development Goals Centre for... 

Africa can benefit from global volatility

By: Kim Cloete     17th August 2017 Despite major global challenges, including global trade, Africa has the opportunity to step up to global change and benefit from the volatility that is shaking up the world, says Thomson Reuters Africa MD Sneha Shah. “Africa has the richest resource pool in the world, but we always lose, because... 

Erin Energy starts drilling at Oyo-9 well

By: Creamer Media Reporter      14th August 2017 Oil and gas exploration and production company Erin Energy Corporation has started drilling of the Oyo-9 well, offshore Nigeria. The well is being drilled with the Pacific Bora sixth-generation drilling rig and is expected to take about 62 days to complete. 

HMA South Africa announces exclusive Fireye distributorship

     4th August 2017 The Fireye range of flame monitoring and combustion control equipment for industries as diverse as petrochemical and power generation is now available from HMA South Africa, the newly-appointed exclusive distributor for the region. Already well-established in the South African market for about 33... 

MTN sets out to prove it’s the best custodian of emerging market assets after H1 recovery

By: Natasha Odendaal     3rd August 2017 As telecommunications giant MTN starts to recover from a turbulent 2016, new CEO Rob Shuter is laying the growth foundation to leverage future opportunities through an enhanced six-pillar strategy. Shuter, who took the reins in mid-March, unveiled the development of a new growth plan – dubbed... 

Africa urged to focus on attracting more FDI

By: Anine Kilian     28th July 2017 Improving the quality of life for people in Africa is a key goal of the African Development Bank and this will require the continent to attract more foreign direct investment (FDI). Addressing delegates at the second Gauteng Infrastructure Investment Conference, in Midrand, on Friday, University... 

Automotive future positive through telematics 

By: Victor Moolman     28th July 2017 The future for automotive fleet management through telematics is positive, says JSE-listed fleet management, insurance telematics and stolen vehicle recovery service provider Cartrack. 

Technology, digital solutions part of Botswana firm’s microfinance arsenal as it expands across Africa 

By: David Oliveira     28th July 2017 Botswana-based microfinance company Letshego Holdings, which operates in 11 African countries, aims to use technology and digital solutions to affect economic redress in Africa and provide financial inclusion for the continent’s most underserved markets. Letshego MD Chris Low explains that the... 

MTN to swing back into the black in H1

By: Creamer Media Reporter      27th July 2017 Telecommunications group MTN expects to report basic headline earnings a share of between 210c and 230c and basic earnings a share of between 280c and 300c for the six months ended June 30. This compares with a headline loss a share of 271c and an attributable loss a share of 301c in the six... 

World's biggest tax bill is latest worry for African gold miner

By: Bloomberg     27th July 2017 It was supposed to mark a fresh start for the African business of the world’s biggest gold producer. In November 2014, African Barrick Gold would get a new name and new management to distance itself from a troublesome past and disputes with local politicians. Less than three years later, things... 

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... 

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... 

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... 

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... 

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... 

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... 

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