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Oil, gas outlook positive amid tough conditions, says PwC review

By: Kim Cloete     7th November 2018 The outlook for Africa’s oil and gas industry is positive, despite tough economic conditions and far fewer discoveries over the past year, PwC’s yearly 'Africa Oil & Gas Review' shows. The review indicates how the industry has responded in the wake of the recovery of the oil price to close to... 

Centamin reports sharp drop in Q3 profit

By: Mariaan Webb     1st November 2018 Gold miner Centamin, which operates the Sukari mine in Egypt, has reported sharply lower third-quarter profit, as its revenue decreased by 35% year-on-year, reflecting lower gold production and sales. The London- and Toronto-listed miner posted profit of $10.23-million, compared with $34-million... 

SAWEA CEO bullish about SA wind energy outlook

By: Tracy Hancock     26th October 2018 As forecast, 2018 is shaping up to be a landmark year for the South African energy sector, South African Wind Energy Association (SAWEA) CEO Brenda Martin tells Engineering News. Bolstering South Africa’s energy sector is much-improved policy certainty, transparent decision-making and public... 

Imbizo to promote green chemistry in South Africa

By: Natasha Odendaal     19th October 2018 The National Cleaner Production Centre of South Africa (NCPC-SA) is working steadily behind the scenes to promote and develop the concept of green chemistry, as part of a global initiative driven by the United Nations Industrial Development Organization (UNIDO) and Yale University’s Center for... 

Containerised workshop facilitates hydraulic services

19th October 2018 Hydraulics components supplier Hytec Services Africa (HSA), part of hydraulic components supplier Hytec Group, has launched its mine site based containerised hose workshops to provide a comprehensive onsite hose and fittings service to its mining clients across Africa. Set up in refurbished and... 

IRP 2018 suffers from major failings, nuclear analyst claims

By: Rebecca Campbell     19th October 2018 South Africa's Integrated Resource Plan (IRP) 2018 contained serious flaws which significantly undermined confidence in its recommendations. So affirmed University of the Witwatersrand Honorary Research Fellow and South African Network for Nuclear Education, Science and Technology National... 

Positives of migration

By: Martin Zhuwakinyu     19th October 2018 Television footage of desperate Africans drowning in the Mediterranean Sea en route to Spain and other European destinations that hold out the promise of a better life has become all too frequent. The International Organisation for Migration puts the cumulative toll since 2000 at 33 000, with... 

M&A activity slowly increasing in Africa

By: Marleny Arnoldi     18th October 2018 Merger and acquisition (M&A) activity has been slower in South Africa, compared with prior years; however, other African countries have seen an increase in deals closed, said Hogan Lovells partner Sibongile Solombela at the firm’s Africa Forum conference held on Thursday. M&A activity is still... 

Liquid eyes further expansion as Cape to Cairo links up

By: Natasha Odendaal     18th October 2018 Pan-African telecommunications group Liquid Telecom is eyeing further expansion across the African continent after completing its Phase 1 decade-long project of connecting a 60 000 km network from Cape Town, South Africa, to Cairo, Egypt. The group on Thursday reported that, following the... 

Poverty comes with a data premium – Competition Commission hears 

By: Natasha Odendaal     17th October 2018 Just over a year since initiating a market inquiry into data services, the Competition Commission on Wednesday kicked off its three-day public hearings to obtain a clear understanding of what is causing or leading to high data prices, along with the current state of competition, in South Africa.... 

IRP 2018 suffers from major errors, affirms nuclear analyst 

By: Rebecca Campbell     3rd October 2018 South Africa's Integrated Resource Plan (IRP) 2018 contained serious flaws which significantly undermined confidence in its recommendations. So affirmed University of the Witwatersrand Honorary Research Fellow and South African Network for Nuclear Education, Science and Technology National... 

Efora Energy seeks strategic partner to jointly own, operate Lagia oilfield in Egypt

By: Marleny Arnoldi     27th September 2018 JSE-listed Efora Energy has decided it is best to seek a strategic partner to accelerate the development of its Lagia oilfield, in Egypt, following a strategic review of the project. The company will also consider reducing its interest in Lagia, as part of a partnership agreement.  

ABB digital technology to help enhance Egypt’s power grid

By: Simone Liedtke     26th September 2018 Multinational automation company ABB has been selected by the Egyptian Electricity Transmission Company (EETC) to help upgrade and digitalise the electrical grid in the Port Said region, located along Egypt’s Mediterranean coast. The area includes the landmark Suez Canal. 

Visa regulation amendments to ease entry for business travellers, tourists

By: Tasneem Bulbulia     25th September 2018 The Department of Home Affairs (DHA) is pursuing new regulations to make it easier for business travellers, tourists and academia to enter South Africa, but South African minors leaving the country will still need consent from both parents when leaving the country. The announcement of the new... 

Global crude steel production rises 2.6% y/y in August

By: Simone Liedtke     25th September 2018 Global crude steel production increased by 2.6% year-on-year to 151.7-million tonnes in August, the World Steel Association (worldsteel) reports. According to the data, which was released on Tuesday, China’s crude steel production for August was 80.3-million tonnes, an increase of 2.7% compared... 

South Africa to relax visa rules to boost investment, tourism 

By: Reuters     25th September 2018 South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday. The changes are part of a broader economic turnaround programme announced by President... 

African enviro Ministers commit to increasing conservation efforts

By: Marleny Arnoldi     20th September 2018 In a Ministerial declaration issued on Thursday at the closing of the African Ministerial Conference on the Environment, African governments agreed to enhance innovative solutions and build human capital to achieve sustainable development in Africa around the environment. “The environment is... 

Egypt signs oil, gas exploration deal with Shell, Petronas worth about $1bn – statement 

By: Reuters     17th September 2018 Egypt has signed a deep-water oil and gas exploration deal with Royal Dutch Shell and Malaysia's Petronas worth around $1-billion for 8 wells in the country's West Nile Delta, the petroleum ministry said on Saturday. The country also signed a second $10-million deal with Rockhopper, Kuwait Energy... 

Sophia comes to South Africa

By: Martin Zhuwakinyu     7th September 2018 Sophia the Saudi Arabian. Rings a bell? If it doesn’t, a clue: she was the subject of a recent instalment of this column and has the rare distinction of not having been born of flesh and blood. She came to our shores last week and wowed attendees at the SAP Now conference, in Johannesburg, where... 

China's Xi offers another $60bn to Africa, but says no to 'vanity' projects

By: Reuters     3rd September 2018 Chinese President Xi Jinping offered another $60-billion in financing for Africa on Monday and said Chinese companies will be encouraged to invest no less than $10-billion over the next three years, but he also warned against "vanity projects". Speaking at the opening of a major summit with... 

China's Xi says no strings attached to funds for Africa

By: Reuters     3rd September 2018 Chinese funds are not for "vanity projects" in Africa but are to build infrastructure that can remove development bottlenecks, Chinese President Xi Jinping said on Monday, telling Chinese firms they also had to respect local people and the environment. Xi said at a business forum before the start... 

Crude steel production, capacity utilisation ratio increase y/y in July

By: Marleny Arnoldi     27th August 2018 Global crude steel production for the 64 countries reporting to the World Steel Association was 154.6-million tonnes in July – a 5.8% year-on-year increase. China contributed 81.2-million tonnes of crude steel in July, a 7.2% year-on-year increase. Japan produced 8.4-million tonnes, which is... 

Experts collaborate to deliver project in Kenya

17th August 2018 Integrated infrastructure delivery company Aecom’s Nairobi team, consisting of experts from South Africa, Kenya, Germany and the US, is working on a civil-structure assessment project for a transmission line in Kenya. “A major advantage for Aecom in the region is its ability to leverage its... 

Four Brics and a briquette

By: Riaan de Lange     10th August 2018 The headline of this article sounds a bit like a 1960s band. A popular music band. A pop band. But, alas, it is no band – it is what should be an honest reflection of what the world knows as Brics, an acronym for Brazil, Russia, India, China, and South Africa. Bric came into existence in 2008 and... 

AECOM continues to secure major infrastructure contracts in East Africa

By: Creamer Media Reporter      7th August 2018 Integrated infrastructure delivery company AECOM continues to secure major contracts in East Africa through its Nairobi office. This forms part of a concerted strategy to target transportation, water, and power projects in Ethiopia, Uganda, Rwanda, Tanzania, and Kenya. A major advantage for AECOM... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Funding for SA firms seeking to increase African trade and investment exposure

By: Schalk Burger     3rd August 2018 Increased trade and interdependence with the rest of Africa are set to bolster the anaemic economy of South Africa through the R13.4-billion Export Credit Insurance Corporation of South Africa (ECIC) and African Export Import Bank (Afreximbank) South African Trade and Investment Promotion... 

Centamin's core earnings beat expectations, shares rise

By: Reuters     2nd August 2018 Gold miner Centamin's quarterly core earnings topped market expectations as lower-than-estimated mine site costs and inventory-driven sales volumes offset a drop in production. Shares of the Egypt-focused company climbed 4% in morning trading on the London Stock Exchange. 

Ethiopian Nile dam manager found shot dead in his car

By: Reuters     27th July 2018 The project manager of a $4-billion Ethiopian dam was found shot dead in his car on Thursday, police said. "We have confirmed that engineer Simegnew Bekele was shot dead," Zeinu Jemal, head of Ethiopia's Federal Police Commission, told reporters. "He had a bullet wound behind his right ear,"... 

SA varsities deserve a pat on the back

By: Martin Zhuwakinyu     27th July 2018 Two international university rankings published in the last couple of months had me thinking about a perception index released by consultancy firm Ipsos in January, which revealed that South Africans are in a league of their own apropos of their perceptions of key scenarios in the country, with... 

Egypt hikes gas prices by up to 75% in IMF-backed austerity plan

By: Reuters     23rd July 2018 Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75%, the latest move in an IMF-backed austerity programme that has left many Egyptians struggling to make ends meet. The increases follow hikes to fuel, electricity and public transport prices that... 

Kenya to lower age limit on used-vehicle imports to promote local assembly

By: John Muchira     20th July 2018 Kenya has decided to reduce the age limit of used vehicles allowed into the country to promote local assemblers, who are struggling to increase sale of new vehicles in a market choking with imports. Industrialisation Cabinet Secretary Adan Mohamed said that Kenya is on the verge of reducing the... 

Telecom Egypt, Liquid Telecom sign MoU to complete fibre network from Cape Town to Cairo

By: Reuters     16th July 2018 Telecom Egypt has signed a memorandum of understanding with Liquid Telecom to enable the Pan-African group to complete Africa’s terrestrial fibre network stretching across the African continent, the companies said on Saturday. Liquid Telecom, a subsidiary of Econet Wireless Global, has been... 

Egypt wants $500m from World Bank

By: African News Agency      11th July 2018 Egypt’s Ministry of Investment and International Cooperation has held discussions with the World Bank for an additional $500-million loan for the country’s social housing projects targeting low-income households, according to an official ministry statement. The discussions were held on Tuesday... 

Moody’s warns of credit implications for Africa as China shifts to consumption-led growth

By: Simone Liedtke     3rd July 2018 China's shift to consumption-led growth will have mixed credit implications for African sovereigns, flattening the trade volumes of oil and ferrous metal exporters, while benefitting other exporters and tourist destinations, Moody's Investors Service said in a report published on Tuesday. "China... 

Mondi says completes acquisition of Egypt's NPP in Egypt

By: African News Agency      21st June 2018 Paper and packing company Mondi said late on Wednesday it had completed the acquisition of Egypt's National Company for Paper Products (NPP) for the equivalent of €24-million on a debt and cash free basis. NPP, which operates an industrial bags plant in Giza near Cairo, will be integrated into... 

Egypt appoints new minister of defence in new Cabinet – State television

By: Reuters     14th June 2018 Egypt has appointed a new minister of defence in a cabinet sworn in on Thursday by President Abdel Fattah al-Sisi to mark the start of his second term in office. Mohamed Ahmed Zaki Mohamed was named minister of defence, replacing Sedki Sobhi. 

Nissan announces expansion plans in Africa, Middle East & India

14th June 2018 Nissan Motor Co., Ltd. unveiled a major expansion strategy in the Africa, the Middle East and India region today as part of the company’s six-year midterm plan, Nissan M.O.V.E. to 2022. Nissan aims to build on its strengths in markets including South Africa, India, the United Arab Emirates, Egypt... 

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