R/€ = 15.68 Change: -15.52
R/$ = 14.15 Change: -14.01
Au 1336.38 $/oz Change: 1.46
Pt 1133.50 $/oz Change: -1.00


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... 

MTN flags lower H1 profit, shares slide

By: Reuters     19th July 2016 Africa's biggest mobile phone operator MTN Group flagged lower first-half profit on Tuesday, blaming a hefty fine in Nigeria and sending its shares sliding nearly 4%. After months of talks, MTN said on June 10 it had agreed to pay a heavily reduced fine of 330-billion naira ($1.2-billion), or a... 

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. 

Africa’s largest Coca-Cola bottler begins operations

By: African News Agency      4th July 2016 Africa’s largest bottler, Coca-Cola Beverages Africa (CCBA), on Monday opened its doors for the first day of operations. CCBA was formed in 2014 through the combination of African non-alcoholic ready-to-drink bottling interests of SABMiller, the Coca-Cola Company, and Gutsche Family Investments –... 

Heads of South Africa's fuel fund resign after making Chevron bid

By: Reuters     4th July 2016 The heads of South Africa's state-owned Strategic Fuel Fund resigned on Friday, a day after the Department of Energy said it would investigate the fund's unauthorised bid to buy Chevron's assets in the country. The fund, which reports to the energy department, said on Wednesday it had applied to... 

Sasol mulling bid for Chevron's South African assets 

By: Reuters     1st July 2016 Petrochemicals firm Sasol said on Friday it was considering buying a majority stake in Chevron's South African assets, including a 110 000 bbl/d oil refinery and retail stations. Chevron, which has had a presence in South Africa for more than a century, said in January it would sell its 75% stake... 

Oil, gold propel market to biggest quarterly rally in years

By: Reuters     1st July 2016 Commodities surged 13% this quarter in their biggest rally in over five years as investors who had shunned the asset class piled into safe-haven gold and bet on tighter supplies of oil and sugar. Bullion was one of a handful of assets across the financial markets to benefit from Britain's shock... 

Foreign direct investment into South Africa fell sharply in 2015

By: Terence Creamer     1st July 2016 Foreign direct investment (FDI) inflows to South Africa slumped to a ten-year low of only $1.8-billion in 2015, a 69% decline, the latest World Investment Report (WIR16) shows. Inward FDI into Africa’s most developed economy was recorded by the United Nations Conference on Trade and Development... 

Venezuela mess prods China to reassess Africa lending spree

By: Bloomberg     30th June 2016 The threat of Venezuela defaulting on Chinese debt is putting pressure on Beijing to reassess how easily it doles out money to commodity-dependent nations, especially those in Africa. As low oil prices ravage Venezuela’s economy and embattled leader Nicolas Maduro seeks better terms on Chinese... 

MTN Nigeria wins 2.6 GHz frequency spectrum auction

     29th June 2016 The Nigerian Communications Commission (NCC) has awarded MTN a ten-year frequency spectrum licence for the 2.6 GHz band, which guarantees superior performance for wireless networks, especially fourth-generation (4G)/long-term evolution (LTE) services.    Although Nigeria is one of 28 African... 

Pan Macmillan South Africa is delighted to announce that as of July 2016 the company will represent Cassava Republic Press in South Africa.

     29th June 2016 Cassava Republic Press is a leading African publishing house and their list comprises an eclectic list of quality literary fiction, non-fiction, crime, young adult fiction, children’s books, and romantic fiction under the Ankara Press imprint. The publisher aims to spotlight the vibrancy and... 

Will Brexit break up the African Union? 

By: News24Wire      27th June 2016 African Union Commission chairperson Nkosazana Dlamini-Zuma’s Twitter timeline was quiet on Friday morning, even as #Brexit was trending. The African Union, too, did not immediately issue a statement. 

Kidnapped Macmahon workers released

By: Mariaan Webb     27th June 2016 The seven Macmahon Holdings workers kidnapped in Nigeria have been released, the Australian engineering and mining group reported on Monday, adding that arrangements had been made for the men’s safe return to their families. The company said that five of the seven people who were abducted near... 

Could your smartphone store your ID, passport and licence?

By: Schalk Burger     24th June 2016 Identity documents (IDs) can be securely stored and carried on smartphones, which also allows for providing IDs for citizens through mobile networks, says identity systems multinational HiD Global Government ID (GoID) Solutions sales director Joby Mathew. The HiD GoID platform for mobile IDs also... 

Truck group seeks to regain lost market share after restructuring

By: Irma Venter     24th June 2016 Following a slump in truck sales in South Africa in 2015, MAN Truck & Bus South Africa (SA) and MAN Sub-Equatorial Africa MD Markus Geyer is confident the company can win back its lost market share “within a year”. The local arm of the German group sold 1 317 trucks in South Africa in 2015, at a... 

One Macmahon worker shot dead, seven expats kidnapped in Nigeria

By: Mariaan Webb     23rd June 2016 Mining services company Macmahon on Thursday confirmed the abduction of seven of its employees, including three Australians, two Nigerians, a New Zealander and a South African, at its operations near Calabar, in Nigeria. The security incident also led to the death of a local Macmahon employee,... 

AFC, Harith merge power assets

By: Natasha Odendaal     22nd June 2016 Two Africa-based institutional investors have merged their power assets to create a new energy entity equipped with substantial capital, sector specific experience, a critical mass of existing assets and a pipeline of credible power projects. Harith General Partners and Africa Finance... 

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