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Unlock true potential of Africa by empowering its youth

26th October 2018 Africa evokes distinctive images of its natural wildlife and majestic landscapes. Of course, there is more to the Africa story, driven by its people, tremendous talent pool, and the untapped resources that will take the continent to the next level of growth in the coming years. 

There is room for more ride-hailing services, says Taxify country manager

By: Irma Venter     23rd October 2018 Taxify believes there is room for another electronic ride-hailing service in South Africa. US-based Uber started operations in South Africa in 2013, with Estonia’s Taxify moving into the country in 2016. 

Africa Code Week 2018 accelerates community capacity building with significant Google support

22nd October 2018 Africa Code Week 2018 received a significant boost with the announcement of key partner Google's support of 53 non-profit organisations across 11 countries. This is the third consecutive year that Google is making micro grants available to organisations involved in implementing Africa Code Week's... 

Tech, fashion showcased in iconic African designs

By: Natasha Odendaal     19th October 2018 A successful campaign aimed at bringing to life the transformative capabilities of data has revealed the combination of the power of technology and fashion and turned a concept into a dialogue. A thought-provoking project under the bannered theme “Fabric” undertaken by Siemens in August... 

Nigeria's Emefiele is said to meet with MTN, banks Tuesday

By: Bloomberg     9th October 2018 Nigeria’s central bank governor, Godwin Emefiele, will meet with MTN Group and four banks on Tuesday amid a dispute over $8.1-billion that the bank said was transferred illegally out of the country, two people familiar with the situation said. The people declined to be identified because the... 

Mini-refineries race billionaire to fix Nigerian fuel crisis

By: Bloomberg     2nd October 2018 In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650 000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7-billion annual fuel-import bill. Such is the... 

MTN mulls scrapping Nigeria IPO, seeks options as spat hurts

By: Bloomberg     2nd October 2018 MTN Group, the wireless carrier facing a combined $10-billion in claims from authorities in Nigeria, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange. Africa’s largest mobile carrier is reconsidering the IPO amid a dispute with... 

Coca-Cola moving ahead with takeover of Nigeria's Chi juice

By: Reuters     20th September 2018 Coca-Cola is moving ahead with plans to take over Nigeria's leading juice company Chi and aims to complete the deal early next year, a senior executive told Reuters. The acquisition for an undisclosed price is one of several steps the US company is taking in a global strategy to diversify from... 

SA cities not among the least liveable

By: Martin Zhuwakinyu     14th September 2018 South Africans are a whinging lot – there is survey data from credible research entities to prove this – and one of biggest gripes is about living conditions in towns and cities, especially in the less-well-to-do areas, better known in our lingo as ‘locations’ or ‘townships’. The service delivery... 

MTN CEO confident about Nigeria dispute as firm applies for injunction

By: Reuters     10th September 2018 Telecoms firm MTN Group said on Monday it was confident a multi-billion dollar dispute with the Nigerian government would be resolved even as it applied for a court injunction to protect its Nigerian assets. Nigeria's central bank last month ordered MTN's Lagos-based unit to hand over... 

Moody's places MTN on review for downgrade

By: Reuters     6th September 2018 MTN Group has been put on review by Moody's for downgrade after the South African mobile phone operator said it was on the hook for a total of $10.1-billion from its biggest market Nigeria, the ratings agency said on Thursday. "MTN's ratings have been placed on review for downgrade to reflect... 

In latest clash, Nigeria hands South Africa's MTN $2bn tax bill

By: Reuters     4th September 2018 MTN Group faces a $2-billion demand for taxes in Nigeria, the latest in a series of skirmishes with authorities in the South African mobile phone company's most lucrative but increasingly problematic market. The announcement of the tax bill incurred over the last decade comes days after the west... 

Billionaire's huge Nigerian oil refinery likely delayed until 2022 – sources

By: Reuters     10th August 2018 A huge oil refinery being built in Nigeria by Africa's richest man is unlikely to start production until 2022, two years later than the target date, sources with direct knowledge of the matter said. The 650 000 bbl/d refinery near Lagos, set to be Africa's biggest, is expected to boost Nigeria's... 

Redefining philanthropy

By: Martin Zhuwakinyu     3rd August 2018 Aliko Dangote, Africa’s richest man – with a net worth of $12.4-billion – is redefining philanthropy in his native Nigeria. But the 61-year-old is doing this in a way that will make his bank account even fatter. Dangote Group, the 30 000-employee multinational industrial conglomerate he founded... 

Report shows Cape Town is Africa’s tech capital

By: Anine Kilian     31st July 2018 A report commissioned by the Cape Innovation and Technology Initiative (CiTi), Wesgro and the Allan Gray Orbis Foundation – with the support of the Western Cape government – has confirmed that the greater Cape Town area, including Stellenbosch, is Africa’s tech capital. The report, compiled by... 

Light rail line in Nigeria's capital opens to passengers

By: Reuters     19th July 2018 Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the... 

Power generation posited as mutually beneficial solution

13th July 2018 Municipalities have a lot to gain from small scale, localised power generation in future, but any power generation plans must be approached in a long-term strategic manner involving multiple departments. Speaking ahead of POWER-GEN & DistribuTECH Africa 2018, power sector experts said... 

Petroleum conference renewed for a third year

By: Paige Müller     15th June 2018 The West African International Petroleum Exhibition and Conference (Waipec) will be renewed for a third consecutive year, following an overwhelmingly successful reception from regional and international participants at this year’s second annual conference in Lagos, Nigeria.   Petroleum Technology... 

Industry pursuing better management of energy use

By: Jessica Oosthuizen     8th June 2018 There has been a growing trend among South African manufacturing plants to pursue energy reduction and manage its use better, says energy training services provider the Energy Training Foundation (EnTF) training manager Yolanda de Lange. She explains that significant hikes in electricity rates... 

Companies urged to accelerate carbon cuts

By: Kim Cloete     8th June 2018 South Africa needs to speed up its efforts to cut carbon emissions in tune with a more sustainable future, say analysts. Joanne Henstock, Africa Executive Director for Governance, Integrated Reporting and Sustainability at EY, says South Africa faces significant challenges in achieving its... 

Infrastructure development key to meeting consumer demand in megacities – economist

By: Marleny Arnoldi     31st May 2018 There are rapidly growing megacities, including Accra, Cairo, Lagos, Johannesburg, Nairobi and Kinshasa, in Africa, and it is important to ensure infrastructure development grows at a pace that will meet the increasing consumer demand that will come out of these megacities, said Imara Africa... 

Summit discusses built environment trends, considerations for thriving Africa development

By: Marleny Arnoldi     31st May 2018 It has been a tumultuous period for the African continent, as since 2014 there have been many pressures affecting the macroeconomic environment – commodity prices took a significant knock, some economies dipped into a recession and the pressure was on from a number of credit ratings agencies.  

Nampak H1 profit up 10% y/y

By: Anine Kilian     30th May 2018 JSE-listed Nampak’s headline earnings and headline earnings a share for continuing operations increased by 11% and 10% to R849-million and 132c, respectively, for the six months ended March 31. Presenting the company’s results, on Thursday, CEO André de Ruyter said the performance from continuing... 

ExecuJet Nigeria bolsters services for West Africa with Izy Air alliance

By: Simone Liedtke     29th May 2018 International business aviation company ExecuJet, which is part of the Luxaviation Group, on Tuesday announced a strategic alliance for maintenance services between its Lagos-based maintenance, repair and overhaul (MRO) facility and Nigeria-based Izy Air. This forms part of ExecuJet’s ongoing... 

Nigeria awards $7bn rail project to Chinese state rail firm – Xinhua

By: Reuters     16th May 2018 Nigeria has awarded a $6.68-billion contract to the China Civil Engineering Construction Corporation (CCECC) for work on a major segment of a railway linking the country's commercial hub Lagos, in the southwest, and Kano in the north, Xinhua reported. "The signing of the ... segment contract... 

New heavy-duty jib put to the test

20th April 2018 Heavy lifting solutions provider Ale has used its heavy duty jib with the the AL.SK350 crane while performing its inaugural lift, weighing 1 276 t, of a floating production storage and offloading (FPSO) module integration project in Nigeria. The world’s largest capacity land based crane, the... 

MTN expects IPO of Nigerian business this year

By: Reuters     10th April 2018 South Africa's MTN aims to list its Nigerian unit in an initial public offering this year, subject to market conditions, group chief executive Rob Shuter told Reuters on Tuesday. Shuter said plans were well advanced and the company would provide exact terms of the IPO in the next few months. 

Impairments push Lafarge Africa to 2017 loss, shares fall

By: Reuters     9th April 2018 Lafarge Africa has taken a one-off impairment in Nigeria and South Africa totalling around 33-billion naira ($105-million), widening its loss before tax for 2017 from a year earlier and sending its shares tumbling. Bruno Bayet, CFO, told Reuters the impairments accounted for bulk of the loss,... 

Oando commissions new office building in Lagos

By: Anine Kilian     5th April 2018 Dual-listed Oando has officially commissioned its new office building, the Wings Office Complex, in Lagos, Nigeria. The complex, which was commissioned by State and Petroleum Minister Ibe Kachickwu,  comprises two 12-storey towers with 27 000 m2 of lettable office space, a three-level car park,... 

ExecuJet base in Lagos granted free trade zone status

By: Rebecca Campbell     26th March 2018 Aviation company ExecuJet announced on Monday that its maintenance, repair and overhaul (MRO) facility in Lagos, Nigeria, had been designated a free trade zone (FTZ) by the Nigerian authorities. As a result, parts and services supplied by ExecuJet to its customers in Nigeria’s commercial capital... 

Africa’s downstream oil industry holds promise

By: Kim Cloete     14th March 2018 The downstream market is dynamic in Africa and continues to evolve and become more transparent throughout the supply chain, says African energy specialist CITAC Africa executive director Gary Still. He told the annual African Refiners & Distributors Association (ARA) conference, in Cape Town, on... 

Transport company awarded contract for Africa’s largest oil refinery

9th March 2018 Transportation service provider Mammoet has been contracted to provide heavy lifting and transport solutions for a new multibillion-dollar oil refinery in Nigeria. In January, Mammoet and Nigerian multinational industrial conglomerate Dangote Group signed the contract for the project during... 

World-class events benefit the township economy

By: Sydney Majoko     26th January 2018 Most South African townships are built along similar physical lines. They consist of a lot of bland structures that provide for the basic need of accommodation but nothing more. Sure, some people have displayed the need to be different and embarked on changing their dwellings. But in terms of... 

Investments accumulated to catalyse off-grid energy development

By: Dylan Slater     26th January 2018 Multilateral development bank African Development Bank’s (AfDB’s) board approved a $30-million investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF) last month.  

Nigeria's Oando and key shareholder settle long-running dispute

By: Reuters     23rd January 2018 Nigerian oil company Oando said on Monday it had settled a squabble with a key shareholder and was working on resolving remaining shareholder disputes and getting a suspension of its shares lifted. The company said it has addressed issues raised by Dahiru Mangal, ending a drawn-out conflict, and... 

Nigerian’s Dangote Cement partners with online shopping giant Jumia

By: African News Agency      5th December 2017 Nigerian based Dangote Cement has signed a deal with the e-commerce platform Jumia Nigeria to sell its cement to online. According to the group, the move was designed to reduce price and ease logistics inherent in the purchase of its products. 

Urban solutions to Africa’s problems

3rd November 2017 ‘Better city, better life’ is the United Nations' (UN's) World Cities Day, which falls on October 31 each year. This year’s theme, ‘innovative governance, open cities’, referenced the idea that urbanisation has immense potential to improve people’s lives. Given the UN’s focus on using the... 

Nigeria seeks to boost mining reserves to lure investors

By: Bloomberg     20th October 2017 Nigeria plans to spend 15-billion naira ($42-million) over the next year to explore for minerals and attract investors into mining and reduce its dependence on oil, Solid Minerals Development Minister Kayode Fayemi said. “Because we are starting from a low base, we want to have a portfolio of... 

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