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Gordhan on getting South Africa’s growth, transformation dynamic right

By: Terence Creamer     24th March 2017 Finance Minister Pravin Gordhan has again responded to questions about whether his ‘inclusive growth’ narrative is at odds with the ‘radical economic transformation’ vision being espoused by President Jacob Zuma. Addressing businesspeople at a function hosted by Deloitte in Johannesburg on... 

Denel heads to court to dispel doubts over legality of Denel Asia JV

By: Natasha Odendaal     24th March 2017 Denel has taken to the High Court of South Africa in Gauteng to clear up doubts over the legal standing of Denel Asia, a joint venture (JV) with VR Laser Asia. The State-owned defence group on Friday applied to the High Court in Pretoria for an order declaring that it obtained approval to form... 

BFS estimates A$271m capital cost for Thunderbird Phase 1 development

By: Esmarie Swanepoel     24th March 2017 The bankable feasibility study (BFS) on the Thunderbird mineral sands project, in Western Australia, has increased projected capital requirements from the A$271-million estimated in the prefeasibility study (PFS), to A$348-million. The BFS was based on an initial 8.5-million-tonne-a-year... 

Opportunities from the Indian Ocean Rim

By: Riaan de Lange     24th March 2017 Indian Ocean Rim Association Well, this certainly is a blast from the past. It was a long time ago. I had just joined the then South African Chamber of Business (Sacob) – on March 1, 1995 – and, within a few days, I was jetting off to Mauritius. I thought that I had hit the big time, and yes, the... 

Peat-to-power project, Rwanda

By: Sheila Barradas     24th March 2017 A $350-million deal to finance the project has reached financial close. 

Peugeot vehicles to be assembled in Kenya

     24th March 2017 French multinational automotive manufacturer General Motors and Peugeot-Citroen (PSA Group) and motor dealer Urysia Limited Authorised Peugeot Dealers, will begin in June with supplying a yearly volume of over 1 000 Peugeot units in order to meet the expectations of the Kenyan market.  

Sello Motau

     24th March 2017 This week feature Sello Motau, CEO of Bicacon, an infrastructure development company   

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... 

Want to sell more wind, solar power? Find corporate buyers

By: Bloomberg     24th March 2017 Contracts to sell electricity directly to corporate users are among the key demand drivers for wind and solar power, while the influence of state mandates wanes, according to a report by Moody’s Investors Service. Multiple factors are spurring corporate power deals, especially from companies that... 

Harmony plans to grow output to 1.5Moz, outlines acquisition criteria

By: Ilan Solomons     22nd March 2017 Dual-listed Harmony Gold is aiming to increase its yearly gold production from the current 1.1-million to 1.5-million ounces over the next three years. This would be achieved by undertaking expansions at its operations in South Africa, the rest of Africa and Papua New Guinea, while also... 

Women Investing in Infrastructure packs a punch for gender equality

     22nd March 2017 Three influential female captains of industry have established Women Investing in Infrastructure (WIiI), a company to fast-track equal gender opportunities in infrastructure development across the African continent. WIiI aims to improve the quality of women’s lives by investing and participating... 

World Bank to lend Tanzania $2.4bn over three years for infrastructure projects

By: Reuters     20th March 2017 The World Bank will lend Tanzania $2.4-billion over the next three years to finance infrastructure projects, the bank's president Jim Yong Kim said on Monday. Tanzania is seeking financing for infrastructure projects as part of its plans to transforming the country into a regional transport and... 

Municipal entity to manage Cape Town Stadium

By: African News Agency      20th March 2017 The City of Cape Town’s Mayoral Committee approved a recommendation to council on Monday, that a municipal entity be established to manage and operate the Cape Town stadium on behalf of the city. “Our goal is to minimise the financial losses of the Cape Town Stadium and to maximise the potential... 

G20’s Compact with Africa launched with widespread support

By: Natasha Odendaal     20th March 2017 Clear support emerged last week from Group of 20 (G20) members’ Finance Ministers and central bank governors for the broadening of international economic and financial cooperation with African countries to “foster sustainable and inclusive growth” in line with the African Union’s Agenda 2063. At... 

Bushveld secures financing to aid in acquisition of SMC stake

By: Natasha Odendaal     20th March 2017 Aim-listed Bushveld Minerals has secured a definitive sales and marketing agreement with Wogen Resources to aid the financing of Bushveld Vametco’s acquisition of a 78.8% interest in Strategic Minerals Corporation (SMC) from Evraz. Bushveld Minerals announced on Monday that the five-year... 

Niger's Parliament to investigate 'uraniumgate' sale

By: Reuters     20th March 2017 Niger's lower house of parliament voted unanimously on Friday to investigate accusations that President Mahamadou Issoufou's former chief of staff improperly participated in the state mining company's purchase of 5.5-million pounds of uranium. A Nigerien newspaper published documents last month... 

DBSA secures $100m AFD loan facility to support continental activity

By: Natasha Odendaal     17th March 2017 The Development Bank of Southern Africa (DBSA) has secured a $100-million loan facility from the Agence Française de Développement (AFD), earmarked for energy, water, transport and information and communication technology infrastructure across Africa. The DBSA aims to continue to advance... 

DAFF to assist agricultural sector increase production  

By: Anine Kilian     17th March 2017 The Department of Agriculture, Forestry and Fisheries (DAFF) plans to boost agricultural production, which was severely affected by the drought in recent years. Addressing delegates at the Agricultural Research Symposium 2017 in Centurion, Gauteng, on Friday, Agriculture, Forestry and Fisheries... 

Jubilee executes tailings agreement

By: Natasha Odendaal     17th March 2017 Dual-listed Jubilee Platinum has secured access to 1.25-million tonnes of new platinum-bearing surface material at an estimated grade of 2.7 g/t platinum, palladium, rhodium and gold (4E) platinum-group metals (PGMs). The execution of a framework and processing of tailings agreement with PlatCro... 

AFD, Eskom sign R6bn financing deal 

By: Megan van Wyngaardt     17th March 2017 To further support its investment in the extension and reinforcement of its power transmission grid, State-owned Eskom has signed a R6-billion multi-tranche framework agreement with the French Agency for Development (AFD). “This multi-tranche loan facility will contribute towards Eskom plans to... 

Orion's purchase of Prieska project to proceed

By: Esmarie Swanepoel     17th March 2017 Junior metals developer Orion Gold has ticked all the boxes to complete the acquisition of Agama Exploration & Mining, to gain a 73.33% interest in the Prieska copper mine, in South Africa. Orion on Friday said that, following the completion of a convertible note issue, the company was now fully... 

Junior miners under strain as investors increasingly look elsewhere

By: Dylan Slater     17th March 2017 Encouraging investment for junior miners is becoming a persistent issue amid faltering markets and investors increasingly seeking ways to settle their capital in other markets, stocks and companies that can guarantee its safeguarding and growth. Based on the sentiment of participants of the... 

DBSA backs key highway project in Kenya

By: John Muchira     17th March 2017 The Development Bank of Southern Africa (DBSA) has agreed to avail $572.8-million debt funding for a key highway project in Kenya. Kenya Transport principal secretary Irungu Nyakera says the funds are already available for the 580 km Lamu-Garissa–Isiolo highway, which forms part of the Lamu Port... 

Kusile power plant project, South Africa

By: Sheila Barradas     17th March 2017 The Kusile power station’s Unit 1 has reached its full 800 MW load-generating capacity after initial synchronisation on December 26. 

Tobene power plant expansion project, Senegal

By: Sheila Barradas     17th March 2017 The project will entail the conversion of the plant from a heavy fuel oil-fired power plant to a gas-fired power plant. 

Zambia agreement seen paving way for further solar power solutions

By: Dylan Slater     17th March 2017 The government of Zambia last month signed a second mandate with Scaling Solar, an initiative of the World Bank Group, which is helping developing countries procure low-cost, privately financed, solar power.  

UK remains committed to helping research and development in South Africa

By: Keith Campbell     16th March 2017 The British government has assigned up to £35-million from its Prosperity Fund to South Africa. This money will be disbursed over the remaining period of the current UK Parliament (that is, until 2020). This was pointed out by outgoing British High Commissioner to South Africa, Dame Judith... 

Erin Energy posts 18% y/y increase in oil sales

By: Megan van Wyngaardt     16th March 2017 Dual-listed Erin Energy achieved crude sales volumes of more than 1.7-million net barrels of oil during the fourth quarter of 2016 – an 18% increase over 2015. This resulted in the company realising a 14% year-on-year increase in revenue to $77.8-million. 

Smaller mining companies seek IPOs but deals remain modest

By: Reuters     16th March 2017 Stock market flotations of smaller mining and metals companies are set to pick up this year, although a return to the flood of deals five or six years ago remains unlikely while investors rebuild their bruised confidence in the sector. A continued rally in metals prices is galvanising some firms... 

Govt, rental markets to drive 1.7% growth in 2017 new-vehicle sales

By: Irma Venter     16th March 2017 Vehicle and asset finance provider WesBank expects new-vehicle sales to grow by 1.74% in 2017. The company was almost spot-on in its March 2016 prediction that last year’s sales would decline by 12%, with the actual number recorded at the end of 2016 a drop of 11.4%. 

Upcoming AHI conference to tackle SME ‘disenablement’

By: Natasha Odendaal     16th March 2017 Employers organisation AHI aims to highlight the “disenabling” environment currently faced by small and medium-sized enterprises (SMEs) in South Africa at its upcoming conference. The small business chamber’s day-long conference, described as the first it will be convening in a series of... 

Former PRASA board case postponed

By: News24Wire      16th March 2017 The urgent High Court case brought by former PRASA board members to have their dismissal by Transport Minister Dipuo Peters set aside, was postponed on Thursday morning. After a minute of appearing in the High Court in Pretoria, Advocate David Unterhalter SC requested a postponement to file an... 

Peabody shuffles senior management on eve of reorganisation

By: Henry Lazenby     15th March 2017 The largest US coal miner, bankrupt Peabody Energy, on Wednesday announced that its Australian president Charles Meintjes has been promoted to executive VP for corporate services and chief commercial officer. George Schuller Jr will succeed Meintjes as the president for the Australian business... 

Business Leadership South Africa disputes proposed customs functions transfer

By: Megan van Wyngaardt     15th March 2017 Business Leadership South Africa (BLSA) on Wednesday said it opposes the proposed transfer of the South African Revenue Services’ (Sars’) customs functions to a new border management agency, which is what the Border Management Agency Bill, currently before Parliament, proposes. “Sars must remain... 

Eskom initiates talks on triggering government support to cover IPP costs 

By: Terence Creamer     15th March 2017 Eskom has written to the signatories of the Government Support Framework Agreement (GSFA) – which guarantees support for the State-owned utility in meeting its obligation to buy electricity from renewable-energy independent power producers (IPPs) – to discuss a possible triggering of government... 

Mikono Expo Group will Host the Dar Construction Trade Expo and the East Africa Smart Building Summit 2017 in Dar es Salaam,Tanzania!!

     15th March 2017 Tanzanian based company Mikono Speakers under her sister company Mikono Expo Group, which operates in Tanzania, South Africa and other African nations, is hosting the Dar Construction Trade Expo 2017. This esteemed event will take place along with the East Africa Smart Building Conference. More... 

Philippine lawmakers postpone vote on embattled resources minister

By: Reuters     15th March 2017 Philippine lawmakers on Tuesday deferred a decision to confirm or reject an ardent environmentalist as the country's resources minister, stoking uncertainty over the outlook for mining in the world's top nickel ore supplier. Regina Lopez last month ordered the closure of more than half the... 

Barloworld launches incubation hub to assist in SMME development

By: David Oliveira     14th March 2017 JSE-listed Barloworld on Tuesday launched the Siyakhula Incubation Hub at its Johannesburg offices to assist suppliers and other companies operating in its value chain to overcome challenges such as market access, finance and skills that tend to impact on small, medium-sized and microenterprises... 

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