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Africa needs nuclear energy – Rosatom

By: Keith Campbell     30th March 2017 Sub-Saharan Africa has a real need for, and rapidly growing interest in, nuclear power. This was affirmed by Rosatom International Network Regional VP: Sub-Saharan Africa Viktor Polikarpov at the Nuclear Africa 2017 conference on Wednesday. Rusatom International Network is part of Russia's... 

AFC aims to have $5bn in assets by 2019

By: Megan van Wyngaardt     29th March 2017 Multilateral development finance institution Africa Finance Corporation (AFC) on Wednesday reported that it had invested $688-million during the 2016 financial year, returning a robust financial performance of $115.3-million in total comprehensive income – a 64% year-on-year improvement. The... 

Solar energy may get boost from Africa’s biggest oil exporter 

By: Bloomberg     24th March 2017 Nigeria, Africa’s biggest oil exporter, may be about to turn sunward to generate more of its power. Senators in the capital of Abuja are debating an allocation of $30-million to solar projects in this year’s Budget, according to the Renewable Energy Association of Nigeria (REAN). They are... 

DTI urges captains of industry to take the lead in African trade

By: African News Agency      22nd March 2017 The South African Department of Trade and Industry (DTI) on Wednesday called on business leaders to take the lead in fighting poverty, unemployment and inequality on the continent through the promotion of regional trade. The department said in a statement that Seema Sardha, director of export... 

South Africa asks World Bank to review ease-of-doing-business position in light of InvestSA initiative 

By: Terence Creamer     17th March 2017 The South African government has officially launched a new investment facilitation service, dubbed InvestSA, which it claims will dramatically reduce red tape for foreign and domestic businesses seeking to pursue greenfield or brownfield projects in the country. The service, which has both... 

Nigerian court overturns seizure of oilfield from Shell and Eni

By: Reuters     17th March 2017 A Nigerian court on Friday overturned a request by Nigeria's financial crimes agency to seize an oilfield from Royal Dutch Shell and Eni. In January, a court had ordered the seizure of the OPL 245 oil block and transfer of operations to the federal government on the request of the Economic and... 

Volkswagen restructures to fill sub-Saharan Africa gaps

By: Irma Venter     17th March 2017 German car manufacturer Volkswagen has established Volkswagen Sub-Saharan Africa as a regional operation, in a move aimed at developing and strengthening the African market. The new region joins the existing regions of North America, South America and China, and forms part of Volkswagen’s... 

Refiners commit to producing clean fuels 

By: Kim Cloete     15th March 2017 Although Africa’s oil refining industry will need significant investments to adapt to the move by industry and the automotive sector to cleaner fuels, companies say they are committed to the change. “The impact will touch all sides of the industry, starting with refining and marketing. It will... 

Tanzania gives coal mining licence to Dangote after President's order

By: Reuters     13th March 2017 Tanzania has awarded a coal mining licence to the local unit of Nigeria's Dangote Cement as part of plans to lower the company's production costs and ease disruptions caused by energy shortages. The cement maker suspended output in December, citing technical problems and high production costs,... 

Jigawa solar power project, Nigeria

By: Sheila Barradas     10th March 2017 The project involves the construction of a solar project with an output of about 96 GWh/y. 

Status change for Kenya airport opens way for direct flights to the US

By: John Muchira     10th March 2017 Kenya’s Jomo Kenyatta International Airport (JKIA) has been granted Category 1 status by the US Federal Aviation Administration (FAA), paving the way for airlines to operate direct flights between JKIA and airports in the US. This followed a meticulous assessment by the FAA and other US agencies. 

Impact of Africa on South Africa’s economic performance ‘underestimated’ – IMF 

By: Terence Creamer     9th March 2017 Sub-Saharan Africa (SSA) is currently the main destination for South African exports and its influence on the economic performance of South Africa is being “underestimated by many commentators”, International Monetary Fund (IMF) senior resident representative in South Africa Dr Montfort Mlachila... 

Power & Electricity World Africa 2017

     9th March 2017 Africa’s largest power and electricity show - Power & Electricity World Africa 2017 celebrates its 20th anniversary. The show welcomes over 7000 attendees and hosts a mecca of solution providers spanning 3 halls and thousands of square meters. Taking place in Johannesburg South Africa, this is a... 

Nigeria to open up government airports to private investment

By: Reuters     7th March 2017 Nigeria will open up its government-owned airports to private investment, the minister of aviation said on Monday, as the capital's airport prepares to close for repairs after years of neglect. All government-owned airports will be offered to investors who have "the wherewithal, the know-how, the... 

MTN has limited scope to jack up debt levels – Moody's

By: Reuters     6th March 2017 South African mobile phone operator MTN Group has limited room to increase its debt levels, rating agency Moody's said on Monday, citing lack of dividend flow from Nigeria – its biggest market. "Financial flexibility could be restored should MTN be able to begin repatriating dividends from its... 

Hyprop’s Strong Interims Prompt Higher Full-Year Growth Guidance

     3rd March 2017 HIGHLIGHTS • Dividend up 16,6% • Acquired Skopje City Mall, Skopje, Macedonia • Sale of Willowbridge South for R460 million • Developments of R260 million underway (SA portfolio) JSE specialist shopping centre REIT, Hyprop, reported strong double-digit growth in distributions for the six months... 

South African maize production doubles despite droughts worsening across East Africa

By: African News Agency      3rd March 2017 As drought and worsening food security hits swathes of East Africa, maize harvests in Southern Africa, previously slashed by El Niño, are forecast to recover this year, with South Africa’s output expected to increase by more than 50 percent from 2016. A new United Nations (UN) report states that... 

Kogi granted mining licences in Nigeria

By: Esmarie Swanepoel     3rd March 2017 Junior Kogi Iron has been granted two mining licences for its Agbaja iron-ore and steel project, in Nigeria. The two granted mining licences cover 90.7 km2 and contain 586-million tonnes of indicated and inferred mineral resources. 

Brexit set to change SA’s bilateral economic relationship with the UK 

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation address in Parliament, in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted: “[A]s the UK government prepares to trigger exit negotiations from the EU (European Union), we need to prepare for a new trade... 

Africa slump not grounds for ‘excessive pessimism’

By: Bloomberg     3rd March 2017 The student is halfway through her question to Christine Lagarde when the power cuts – a reminder of the obstacles facing Africa’s poorest nations. The head of the International Monetary Fund (IMF) doesn’t miss a beat. “As you can see, building better infrastructure – roads, the Internet,... 

Brexit set to change SA’s bilateral economic relationship with the UK

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation Address in Parliament in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted that “[a]s the UK Government prepares to trigger exit negotiations from the EU [European Union], we need to prepare for a new trade... 

MTN optimistic of turnaround after plunging into the red in FY16  

By: Natasha Odendaal     2nd March 2017 JSE-listed MTN believes it is on the mend and is seeing the first signs of a turnaround after plunging into the red during what it described as the most challenging year in the company's 22-year history. With its Ignite initiative and various other strategies in play, MTN hopes to reverse the... 

VWSA MD takes on regional responsibility; Rwanda to open VW plant

By: Irma Venter     2nd March 2017 German car manufacturer Volkswagen has established Volkswagen Sub-Saharan Africa as a regional operation, in a move aimed at developing and strengthening the African market. The new region joins the existing regions of North America, South America and China, and forms part of Volkswagen’s... 

Nigerian lawmakers to investigate $17bn subsidies received by State oil firm

By: Reuters     2nd March 2017 Nigeria's upper house of parliament will investigate allegations the state oil company illegally inflated funds it collected from an official subsidy scheme to 5.1-trillion naira ($17-billion) between 2006 and 2015, lawmakers said on Wednesday. The Senate's decision to launch an investigation... 

Renewable energy storage solutions ‘go green’ with RTS Africa Engineering and Nel Hydrogen

     2nd March 2017 Hydrogen is emerging as one of the most viable and effective storage solutions for renewable energy in many key industries, including the transportation and power sectors. Since 1996, the Tshwane-based specialised engineering company, RTS Africa Engineering, has had the sole agency to represent... 

MTN swings into first annual loss in 20 years

By: Reuters     2nd March 2017 Africa's biggest mobile phone operator MTN Group swung into a hefty $108-million annual loss on Thursday, its first in two decades, hit by a regulatory fine in Nigeria and unfavourable currency moves. MTN said its headline loss came in at R1.4-billion ($108-million), or 77c a share, in the year... 

China's Sinoma to build $1bn cement plant in Tanzania

By: Reuters     1st March 2017 China's State-run Sinoma International Engineering Company will start work in May to build a $1-billion cement factory in Tanzania, the East African country's prime minister's office said. The cement factory to be built on the Tanzanian coastal town of Tanga will primarily target export markets... 

Nigeria's economy contracted by 1.5% in 2016 on lower oil prices

By: Reuters     28th February 2017 Nigeria's gross domestic product fell by 1.5% in 2016 due to lower oil revenues, the National Bureau of Statistics said on Tuesday, for its first annual contraction in 25 years. Africa's largest economy slid into recession in the second quarter of 2016 as a slump in crude prices hammered the Opec... 

Audit International - New Software from CaseWare Set to Revolutionise Auditing across Africa

     28th February 2017 CaseWare Africa, an Adapt IT company, has announced the launch of Audit International, an innovative software solution that automates the entire audit process. Theuns Holtshousen, Divisional Business Leader: Africa at CaseWare Africa, says that Audit International has several unique features that... 

Barclays Africa plans Kenya gold ETF listing early this year

By: Chanel de Bruyn     27th February 2017 Barclays Africa Group is preparing to list its NewGold ETF on the Nairobi Securities Exchange after receiving regulatory approval to begin trading the securities. “We expect the listing to take place early this year,’’ Michael Mgwaba, head of exchange traded products at Johannesburg-based... 

MTN quantifies FY16 loss 

By: Natasha Odendaal     27th February 2017 JSE-listed MTN on Monday provided better guidance on its expected loss for the financial year ended December 31, as its Nigerian regulatory fine, foreign exchange losses and charges relating to MTN Zakhele Futhi bites. In a trading update to shareholders, MTN said a basic headline loss a share of... 

Dangote Group planning $100m vehicle assembly plant for Lagos

By: Irma Venter     24th February 2017 The Dangote Group plans to establish a $100-million vehicle assembly plant project, in Lagos, Nigeria. The Dangote Group is a Nigerian multinational industrial conglomerate. 

Diplomatic doldrums for Pretoria?

By: Keith Campbell     24th February 2017 While much local media attention has been devoted to US President Donald Trump, there has been something that, from a South African perspective, was much more important. This was the outcome of the African Union summit at the end of January. This appears to have been pretty much a diplomatic... 

Noncommunicable diseases present African pharmaceutical industry with a $40bn opportunity

By: Megan van Wyngaardt     20th February 2017 The growing incidence of noncommunicable diseases (NCDs) across sub-Saharan Africa, such as cardiovascular disease, cancer, diabetes and respiratory disease, in addition to infectious and parasitic illness, will present the pharmaceutical industry in Africa with a business opportunity of... 

IBM to train 25m Africans over five years

By: Bloomberg     17th February 2017 Technology group IBM is ramping up its digital-skills training program to accommodate as many as 25-million Africans in the next five years, looking toward building a future workforce on the continent. The US giant plans to make an initial investment of R945-million to roll out the training... 

Life is just a game of inches

By: Riaan de Lange     17th February 2017 It is Super Bowl Sunday, the day on which the National Football League (NFL) yearly championship is played in the US. Well, where I am, it is close to midnight, with Monday only minutes away as I prepare to watch Super Bowl LI (‘LI’ being the Roman numerals for 51). The New England Patriots are... 

AFRICA GAS FORUM seeks to unlock new business opportunities for African investors

     15th February 2017 Will the nascent gas industry become South Africa’s new money-spinner? With a bleak outlook emanating out of last week’s #MiningIndaba, investors would be forgiven for losing their stomach for the mining sector and its troubles. Questions are being raised about whether South Africa’s gas sector,... 

The power of innovative engineering: The biggest LOESCHE mill type LM 70.4+4 CS in successful operation with the new COPE drive

     14th February 2017 The LOESCHE mill type LM 70.4+4 CS in operation with the new COPE drive at the cement plant Mfamosing The United Cement Company of Nigeria (Ltd), UNICEM, successfully commissioned their new cement plant 2 at Mfamosing, in Cross River State, Nigeria. LOESCHE received the order for two vertical... 

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