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Altus raises C$4.11m in private placement

By: Creamer Media Reporter      18th April 2018 Aim-listed Altus Strategies has raised about C$4.11-million by way of a nonbrokered private placement of 27.39-million units at C$0.15 each. Each unit is comprised of one ordinary share and one ordinary share purchase warrant that may be used to buy one ordinary Altus share at C$0.30 for five... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     13th April 2018 Talks between Ethiopia, Sudan and Egypt to resolve differences over the Grand Ethiopian Renaissance Dam have concluded without agreement. 

Three-nation talks on Ethiopia dam fail to reach agreement

By: Reuters     6th April 2018 Talks in Khartoum between Ethiopia, Sudan and Egypt to resolve differences over a dam Ethiopia is building ended early on Friday without agreement, the Sudanese foreign minister said. Egypt and Ethiopia are at loggerheads over the construction of the Grand Renaissance Dam, a $4-billion... 

Altus sees further encouraging results from Daro exploration

By: Anine Kilian     5th April 2018 Aim-listed Altus Strategies has reported further encouraging results from the recent exploration at its Daro licence, in northern Ethiopia. These include rock chip samples grading 24% copper, 1.19 g/t gold and 203 g/t gold and highly anomalous cobalt mineralisation, up to 496 ppm copper, along a... 

Consol to relist on JSE; Ethiopia factory set for Q4 commissioning

By: Simone Liedtke     5th April 2018 South African glass packaging manufacturer Consol plans to relist on the main board of the JSE. It was listed on the JSE until 2007, when it was taken private by a consortium of private equity investors, led by Brait Private Equity and which included Old Mutual Private Equity, Sanlam Private... 

Kefi making progress in efforts to secure funding for Tulu Kapi

By: Natasha Odendaal     5th April 2018 Aim-listed Kefi Minerals has made “good progress” in assembling a full consortium focused on raising all the development funding at project level for the Tulu Kapi mine. The gold exploration and development company, which has projects in Ethiopia and Saudi Arabia, is planning a $150-million bond... 

South Africa’s Airport Expansion: What Impact Will It Have on the ZA Economy?

By: Creamer Media Reporter      3rd April 2018 South Africa’s two main airports: Cape Town International (CTIA) and OR Tambo International Airport just outside Johannesburg are set for a $540 million upgrade. The upgrade is part of an ambitious project to develop South Africa’s aviation industry, which should give the economy a much-needed... 

East Africa looking to smart grids for cost-effective way to deliver electricity – US firm

By: African News Agency      28th March 2018 East African countries are increasingly looking to smart grids and associated technologies as a cost effective and scalable way to deliver electricity quickly and reliably, an industry official said. Delegates from Kenya, Ethiopia, Rwanda, and Uganda recently participated in business meetings and... 

EIB pumps $25m into off-grid solar project

By: Marleny Arnoldi     28th March 2018 The European Investment Bank (EIB) has provided $25-million in financing for off-grid solar lighting company d.light to strengthen access to energy in Africa.  

Radebe to address power roundtable in April

     23rd March 2018 South Africa’s power sector has again entered a period of uncertainty after a planned signing ceremony for 27 independent power producers (IPPs) failed to materialise on March 13, following a legal challenge by the National Union of Metalworkers of South Africa. The court case, planned for March... 

Aerosud Aviation warns of tough times for the South African aerospace industry

By: Rebecca Campbell     16th March 2018 South Africa’s largest private-sector commercial aviation aerostructures manufacturing company, Aerosud Aviation (a wholly-owned subsidiary of Aerosud Holdings), warns that the local aerospace industry is going through tough times and is not receiving the kind of support that competitors in other... 

Groupe PSA to assemble Peugeot, Opel vehicles in Namibia

By: Irma Venter     13th March 2018 Groupe PSA has signed an agreement with the Namibia Development Corporation (NDC) to assemble Peugeot and Opel vehicles in Walvis Bay. Groupe PSA is a French multinational manufacturer of automobiles and motorcycles sold under the Peugeot, Citroën, DS, Opel and Vauxhall brands. 

South Africa commits to new continental trade agreement

By: Megan van Wyngaardt     12th March 2018 The African Ministers of Trade (Amot) last week considered and approved – for submission to the extraordinary summit of the African Union (AU) Heads of State and Government – an agreement establishing the African Continental Free Trade Area (AfCFTA), as well as the protocols on trade in goods and... 

Kenya plans to electrify Mombasa–Nairobi rail link

By: John Muchira     9th March 2018 Kenya plans to electrify its diesel-powered standard-gauge railway (SGR) line from the coastal city of Mombasa to the capital, Nairobi, as it seeks to cement its position as a regional transports hub. The East Africa nation has since secured $240-million from China Electric Power Equipment &... 

Eyeing the diaspora dollar

By: Martin Zhuwakinyu     9th March 2018 Zimbabweans are becoming creative when it comes to raising funds to invest in their economy, and the stimulus seems to be the ouster of Robert Mugabe, the long-ruling dictator who ran into the ground a country once hailed as the “jewel of Africa” by Tanzania’s Julius Nyerere. During the latter... 

Africa should avoid forfeiting sovereignty to China over loans – Tillerson

By: Reuters     8th March 2018 US Secretary of State Rex Tillerson said on Thursday that African countries should weigh Chinese loans carefully, while adding that Washington was not trying to keep Chinese investment away from the continent. Tillerson, a former Exxon chief executive, is seeking to bolster security alliances on... 

Building trust between miners, host governments a prerequisite to foster economic prosperity

By: Henry Lazenby     6th March 2018 Endemic mistrust between private sector miners and African jurisdictions belies the spirit and objectives set out in the African Union's African Mining Vision, an audience attending the eighth MineAfrica panel discussion at the Prospectors and Developers Association of Canada conference heard on... 

Africans are an optimistic and happy lot

By: Martin Zhuwakinyu     2nd March 2018 I have a little confession to make: I am an Afro-optimist. This means I am the diametrical opposite of Donald Trump, who, when he hears of Africans wanting to emigrate to the US, goes into a trance and starts seeing visions of our Nigerian brothers and sisters vowing, once they set foot on... 

South Sudan accuses oil group of pollution, threatens shutdown

By: Reuters     1st March 2018 South Sudanese lawmakers have accused the consortium running the country's last working oilfields of dumping expired chemicals in the bush, and have threatened to shut down production unless it stops. Members of parliament's energy committee told the assembly they had seen containers holding old... 

Zimbabwe’s Agoa eligibility up for review this year

By: Terence Creamer     23rd February 2018 The US government will consider Zimbabwe’s eligibility for the trade benefits it extends under the Africa Growth and Opportunity Act (Agoa) during 2018, the State Department’s acting director for economic and regional affairs Harry Sullivan said during a recent telephonic briefing of Africa... 

Projects boding well for geotechnical contractor

By: Marleny Arnoldi     16th February 2018 Specialist geotechnical contractor and subsidiary of Keller Group, Franki Africa, is providing 46 000 Columns with Mixed Moduli (CMM) for the 350 000 m2 Clairwood logistics park construction site project.  

Infrastructure financing à la Ethiopia

By: Martin Zhuwakinyu     16th February 2018 Media reportage on Egypt and Ethiopia during the past few years has emphasised the simmering tension between the two countries. The bone of contention is the Grand Ethiopia Renaissance Dam (GERD), which the Horn of Africa is building on the headwaters of the Blue Nile, one of the two major... 

PPC to pay particular attention to its financial position in 2018

By: Simone Liedtke     15th February 2018 While Johan Claassen, who was, on Wednesday, appointed permanent CEO of PPC, does not foresee any major changes for the company this year, he notes that particular attention will be paid to the company's financial position this year. This, he explained to Engineering News Online, falls in line... 

America to consider Zimbabwe’s eligibility for Agoa this year

By: Terence Creamer     13th February 2018 The US government will consider Zimbabwe’s eligibility for the trade benefits it extends under the Africa Growth and Opportunity Act (Agoa) during 2018, the State Department’s acting director for economic and regional affairs Harry Sullivan said during a telephonic briefing on Tuesday. Since Agoa... 

bauma CONEXPO AFRICA supporting program offers a glimpse into topics of the future

By: Creamer Media Reporter      9th February 2018 The supporting program for bauma CONEXPO AFRICA gives both exhibitors and visitors a comprehensive overview of the technologies of the future. The focus will be on networking and communication between specialists from various fields. The African and international construction and mining... 

Iata welcomes latest African ‘open skies’ initiative

By: Rebecca Campbell     9th February 2018 The International Air Transport Association (IATA) has welcomed the launch of the African Union’s (AU’s) Single African Air Transport Market (SAATM) initiative. This is intended to improve intra-African air transport links by “opening up” the skies above the continent. The initiation of the SAATM... 

PPC supported by Africa growth, while local sales dwindle

By: Megan van Wyngaardt     2nd February 2018 Construction materials supplier PPC's revenue for the nine months ended December 31, 2017, improved on that of the prior comparable period, with interim CEO Johan Claassen noting on Friday that the company continued to make good progress in terms of its deliverables. However, PPC noted that the... 

Grand Ethiopian Renaissance Dam, Ethiopia

By: Sheila Barradas     2nd February 2018 The Ethiopian Electric Power Corporation is building a plant with an installed capacity of 6 000 MW that will supply 15 692 GWh/y. 

Egypt, Ethiopia and Sudan hope to break Nile dam talks deadlock in one month 

By: Reuters     29th January 2018 The leaders of Ethiopia, Egypt and Sudan on Monday set a one-month deadline for laying out the ways to break a deadlock in talks over a mega dam Addis Ababa is building along its share of the Nile, an official said. Egypt and Ethiopia are at loggerheads over the construction of the Grand... 

Nevsun appeals to Canada Supreme Court in Eritreans' forced labour lawsuit

By: Reuters     29th January 2018 Nevsun Resources is appealing to Canada's Supreme Court to throw out a lower court ruling which allowed Eritrean workers, who say they were forced to work at its mine, to have their lawsuit heard in Canada. Canada's top court said on Friday that Nevsun filed an application on Jan. 19, seeking... 

Ethiopia signs power purchase deals for two geothermal plants

By: John Muchira     26th January 2018 The government of Ethiopia has signed implementation and power purchase agreements (PPAs) with two private-sector investors for the building of two geothermal electricity generation plants with a combined capacity of 1 000 MW. The two plants – Corbett, to be developed by Corbett Geothermal, and... 

Altus’s Daro prospect encouraging after reconnaissance exploration programme

By: Natasha Odendaal     22nd January 2018 Aim-listed Altus Strategies has reported encouraging gold and copper results from its Daro project, in northern Ethiopia, following a recently completed reconnaissance exploration programme. A follow-up stream sediment sampling programme across 165 km2 of the 412 km2 Daro licence area is now... 

Ethiopia leader rejects call for World Bank arbitration in dam dispute 

By: Reuters     22nd January 2018 Ethiopia's Prime Minister Hailemariam Desalegn has rejected a call by Egypt for World Bank arbitration in a dispute over a hydroelectric dam Addis Ababa is building along its share of the Nile. The two countries are at odds over the construction of the Grand Ethiopian Renaissance Dam, with Cairo... 

Egypt, Ethiopia leaders say Nile dam must not ruin relations

By: Reuters     19th January 2018 Egyptian President Abdel Fattah al-Sisi pledged on Thursday not to let differences over a dam Ethiopia is building on the Nile river ruin relations with Addis Ababa. Ethiopia hopes the hydroelectric Grand Renaissance Dam will make it Africa's largest power exporter. 

Africa, and other regions, seen benefiting from China-driven One Belt, One Road superproject

By: Schalk Burger     19th January 2018 The China-driven superproject, the Belt and Road Initiative (BRI), which is a conceptual redevelopment of the ancient global tradeways of the Silk Road, aims to link the heartlands of countries by land, sea and air routes, says Renmin University School of International Studies Professor Wang... 

UK reaffirms commitment to promote trade and investment with Africa

By: Keith Campbell     19th January 2018 The British government has again given the assurance that it desires a mutually beneficial and thriving trade relationship between the UK and Africa once the country has left the European Union (EU). This was affirmed by Trade Policy Minister (equivalent to Deputy Minister in South Africa) Greg... 

Kefi approves final model for Tulu Kapi project

By: Megan van Wyngaardt     18th January 2018 The final project models for Kefi Minerals’ Tulu Kapi project have now been agreed to by the government of Ethiopia, contractors Lycopodium and Ausdrill/African Mining Services and preferred project financiers. "The models were uploaded into the formal financing data rooms. They show some... 

WEF 2018 meeting to feature record number of world leaders

By: African News Agency      18th January 2018 A record number of heads of state, government and international organisations, as well as leaders from business, civil society, academia, the arts and media, are set to attend the World Economic Forum’s (WEF) 48th annual meeting taking place in Davos-Klosters, Switzerland, from January 23 to 26.... 

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