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Sub-Saharan Africa middle class represents R1.3tr a month market

By: Megan van Wyngaardt     19th May 2017 A University of Cape Town (UCT) Unilever Institute of Strategic Marketing initiative, the African Lions research project, has established that the sub-Saharan African middle class, comprising around 100-million people, represents a R1.3-trillion a month market and is growing. Carried out... 

Wealth gap leaves Ivorians craving share of 'economic miracle'

By: Bloomberg     20th April 2017 Standing knee-deep in muddy water to sift gravel in oppressive heat, a handful of middle-aged miners search for diamonds, clinging to what seems like a dying trade in a region with few job opportunities. “It’s unpredictable,” Pierre Silue, a 46-year-old miner wearing ragged clothes, said as he... 

Africa must connect on global scale for economies to keep up and compete

By: Megan van Wyngaardt     9th February 2017 To grow their economies in line with their growing size, Africa’s cities must open their doors and connect to the world to ensure that investments in these cities’ infrastructure, industrial and commercial structures keep pace with its concentration of people. A new World Bank report, released on... 

Fourteen airport rail links planned in Africa, including two more in SA

By: Irma Venter     16th December 2016 There are more than 7 000 airports indexed at the International Air Transport Association (Iata), with 600 of those handling more than 1-million passengers a year. Around 150 of these 600 airports have rail access directly to the terminals, with only 23 of the 150 featuring dedicated,... 

Fourteen airport rail links planned in Africa, including two more in South Africa

By: Irma Venter     15th December 2016 There are more than 7 000 airports indexed at the International Air Transport Association (Iata), with 600 of those hand- ling more than one-million passengers a year. Around 150 of these 600 airports have rail access directly to the terminals, with only 23 of the 150 featuring dedicated,... 

Liquefied natural gas regasification terminal, Côte d'Ivoire

By: Sheila Barradas     15th December 2016 The project involves the construction and operation of a liquefied natural gas regasification terminal, with a capacity of three-million tons a year.  

How Brics bank can change the way lenders do business

     2nd December 2016 In times of economic distress, a situation South Africa finds itself in at present, governments tend to invest heavily in infrastructure, which plays a central role in economic growth and poverty reduction by promoting greater productivity, increasing trade, reducing the cost of doing business... 

Total-led consortium awarded Côte d'Ivoire LNG terminal rights

By: Natasha Odendaal     25th November 2016 A consortium led by Total – the Côte d'Ivoire GNL, or CI-GNL – has been awarded the rights to construct and operate a three-million-tonne-a-year liquefied natural gas (LNG) regasification terminal in Côte d'Ivoire. The regasification terminal project, which is expected to be operational by... 

AfDB board approves Boost Africa Investment Programme

By: Anine Kilian     24th November 2016 The African Development Bank’s (AfDB’s) board of directors has approved the €50-million Boost Africa Investment Programme – a package of investments in various venture, seed, accelerator and incubator funds that aim to support innovative start-ups and early-stage small businesses across Africa.... 

France’s AMR seeks rights for $200m Guinea bauxite mine

By: Bloomberg     7th October 2016 French bauxite explorer Alliance Miniere Responsable said it filed for permission to develop a $200-million mining project in northern Guinea. AMR seeks the right to mine bauxite in the West African nation’s Boke district for at least 15 years, Romain Girbal, president and co-founder of the... 

The 8th Africa Public Private Partnership Conference and Showcase

     6th October 2016 Organised by AME Trade, the event will take place from the 24 – 26 October 2016 at the Radisson Blu Hotel, London, UK building on the success of the previous editions. 

Endeavour announces management shakeup

By: Henry Lazenby     5th October 2016 West Africa-focused gold producer Endeavour Mining has appointed Vincent Benoit to the newly created position of executive VP, CFO and corporate development officer, effective November 1. The company on Tuesday announced that the former executive VP for strategy and business development would... 

IronRidge widens lithium playing field with West African acquisition

By: Megan van Wyngaardt     13th September 2016 In light of the rising global demand for lithium, Aim-listed IronRidge Resources has set out to acquire a highly prospective 400 km2 primary hard-rock lithium exploration licence in Côte d'Ivoire from Enchi Pro. IronRidge can acquire up to 100% of the project through staged earn-in arrangements... 

BASF increases its footprint in Ivory Coast

     11th May 2016 BASF, the world's leading chemical company, establishes a legal entity in Ivory Coast to enable future growth opportunities. BASF is looking at Ivory Coast as the hub country for West Africa French Speaking countries and has expanded its capabilities considerably to continue innovating in this... 

Endeavour back in the black as AISC drops and output rises

By: Henry Lazenby     3rd May 2016 Africa-focused Canadian gold producer Endeavour Mining has reported a $3-million, or $0.05 a share, headline profit for the three months ended March 31, as markedly lower all-in sustaining costs (AISC) and higher year-on-year sales boosted the miner's financial performance. The TSX-listed miner,... 

AfDB to put up $1.1bn for Tanzania’s transformation to inclusive, green growth

By: David Oliveira     25th March 2016 The African Development Bank (AfDB) announced last month that it will support Tanzania’s economic transformation to inclusive and green growth through an indicative concessional resource assistance package estimated at more than $1.1-billion over a five-year period. The support package is... 

Opic opens Côte d’Ivoire office

By: Natasha Odendaal     23rd March 2016 US development finance institution, the Overseas Private Investment Corporation (Opic) has established its first permanent, dedicated regional office in Côte d’Ivoire, in an effort to stimulate investment into development projects in the critically strategic West and Central Africa. To mark the... 

Global groups act to de-risk lending to African SMEs

By: African News Agency      23rd March 2016 Ecobank has joined forces with leading international finance and development organisations to help fill the gap in financing for small and medium-sized enterprises (SMEs) in some of Sub-Saharan Africa’s poorest and most fragile countries. Ecobank Transnational Incorporated (ETI), parent company... 

New Warehouse-in-a-Box for Ivory Coast

     17th February 2016 Imperial Logistics’ company, Resolve Capacity, has completed its latest Warehouse-in-a-Box™ - this time in Abidjan, the capital of Ivory Coast. Along with partners Turnkey Infrastructure Solutions, Resolve implemented its unique modular infrastructure solution for this $5.8 million, 4 095 m²... 

Visa regimes seal out nearly 80% of Africa to Africa travellers, says AfDB

By: African News Agency      16th February 2016 Africa remained largely closed off to inter-Africa travel with Africans requiring visas to travel to 55% of the continent, able to get visas on arrival in 25% and allowed to travel without visas to just 20% of the 48 countries, the African Development Bank (AfDB) has said. In a statement released... 

Randgold’s Tongon moves into dividend-paying position

By: Megan van Wyngaardt     26th October 2015 Randgold Resources’ Tongon gold mine, in Côte d'lvoire, has paid off its shareholders’ loans of $448-million, thereby moving it into a dividend-paying position, CEO Mark Bristow says. Speaking at the mine’s quarterly briefing in Abidjan, he described this as a significant achievement,... 

UK, Norway conclude Globeleq Africa acquisition

By: Natasha Odendaal     14th September 2015 The UK’s State-owned development finance institution CDC and Norwegian investment fund Norfund’s joint buyout of power generation platform Globeleq Africa from emerging market investor Actis has been concluded, the parties announced on Monday. Norfund, which injected $227-million for a 30% stake... 

SAA’s new route to Washington DC via Accra now operational

By: Keith Campbell     14th August 2015 South African Airways (SAA) started its new route between Johannesburg and Washington DC via Accra, Ghana, on August 2. The inaugural flight carried Ghanaian Transportation Minister Dzifa Aku Attivor, as well as other dignitaries, on the Accra-Washington leg and was greeted as it taxiied in at... 

SAA now flying to Washington via Accra 

By: Keith Campbell     3rd August 2015 South African Airways (SAA) started its new route between Johannesburg and Washington DC via Accra, Ghana, on Sunday. The inaugural flight carried Ghanaian Transportation Minister Dzifa Aku Attivor, as well as other dignitaries, on the Accra-Washington leg and was greeted as it taxiied in at... 

South African locomotives specialist ventures further into Africa

By: Creamer Media Reporter      31st July 2015 Locomotive design and engineering company Grindrod Locomotives recently signed a contract worth more than $30-million with Bolloré Group, the first logistics and port operator in Africa with a presence in 46 countries, 250 subsidiaries and 25 000 employees.  The project will see a number of... 

African cities highlighted as cities of opportunity, but Joburg will fall short 

By: Natasha Odendaal     28th July 2015 The emerging social order will see Africa build its megacities; however, South Africa’s economic powerhouse, Johannesburg, would likely fall to the wayside as other emerging cities on the continent take the stage as “cities of opportunity”. Africa was poised to unlock 12 megacities and 100 new... 

AFC, Ivorian developer ink deal to build 44 MW hydro plant

By: Natalie Greve     15th July 2015 Multilateral development finance institution and project developer Africa Finance Corporation (AFC) has announced the signing of a joint development agreement with Ivorian project group Ivoire Hydro Energy SA (IHE) for the development of the 44 MW Singrobo hydroelectric power plant, in Côte... 

Azito gas-to-power plant expansion project, Côte d’Ivoire

By: Sheila Barradas     3rd July 2015 Globeleq has completed the expansion and conversion to combined-cycle gas turbine technology of its Azito gas-to-power plant.  

AfDB, ICF call on Africa to deliver greater investment

By: Megan van Wyngaardt     8th June 2015 To create debate on the state of Africa’s investment climate and the lessons learnt, as well as offer solutions to existing constraints, the African Development Bank (AfDB) and Investment Climate Facility for Africa (ICF) have organised a joint side event on the margins of AfDB’s 2015 Annual... 

AFC wins Infrastructure Deal of the Year at African Banker Awards

     28th May 2015 Africa Finance Corporation has received the African Banker Infrastructure Deal of the Year Award for its role in financing and developing the US$900 million Kpone Independent Power Project which reached financial close in December 2014. Unveiled in January at a groundbreaking ceremony attended by... 

SAA expands West African footprint

By: Natasha Odendaal     27th May 2015 National carrier South African Airways (SAA) proposes to introduce another West Africa–US link as an air route between Accra, in Ghana, and Washington, in the US, from August. The development formed part of the State-owned airliner’s long-term turnaround strategy. 

Air freight helping to change and grow Africa

By: Keith Campbell     8th May 2015 Largely unnoticed, air freight has come to have a pervasive influence on the lives of people, the prosperity of enterprises and the growth of nations. “Look around any household and you will see the influence of air cargo,” International Air Transport Association (Iata) director-general and CEO... 

Air freight helping to change and grow Africa

By: Keith Campbell     8th May 2015 Largely unnoticed, air freight has come to have a pervasive influence on the lives of people, the prosperity of enterprises and the growth of nations. “Look around any household and you will see the influence of air cargo,” International Air Transport Association (IATA) Director General and CEO... 

AfDB to elect new president in May

By: Natasha Odendaal     22nd April 2015 A successor to the African Development Bank’s (AfDB’s) outgoing president Dr Donald Kaberuka would be elected in May, Finance Minister Nhlanhla Nene announced on Wednesday. The Southern African Development Community (SADC) governors endorsed Zondo Sakala to stand for presidency when the bank’s... 

AfDB commits $140m to Egypt airport project

By: Megan van Wyngaardt     16th April 2015 The African Development Bank (AfDB) has approved a $140-million loan for Egypt’s Sharm El-Sheikh International Airport development project. The project, to be implemented within three to four years, was expected to increase the airport’s capacity to 18-million passengers a year, up from the... 

North African cities offer greatest opportunity – PwC

By: Natalie Greve     17th March 2015 A report by professional services firm PwC investigating Africa’s most “dynamic” and “future-focused” cities has identified North African cities Cairo, in Egypt, Tunis, in Tunisia, Algiers, in Algeria, and Casablanca, in Morocco, as well as South Africa’s Johannesburg as those offering the... 

Kibali wine to support humanitarian work in Africa

     11th February 2015 South African winery Windfall Estates on Wednesday launched its Kibali wine, a blend of Cabernet Sauvignon, Shiraz and Mouvèdre, with a significant portion of all sales of the wine earmarked for the Nos Vies en Partage Foundation, an independent charitable organisation established by dual-listed... 

Temporary power group to expand Côte d’Ivoire plant

By: Anine Kilian     6th February 2015 Temporary power and temperature control services company Aggreko announced a three-year contract extension to its 200 MW gas-fired power project in Côte d'Ivoire last month, with an option to extend this by a further two years. The Aggreko plant in the Vridi area of Abidjan provides critical... 

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