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Radebe hints at possible Saudi investment to boost South Africa's oil refining capacity

By: Kim Cloete     7th November 2018 Energy Minister Jeff Radebe has called for a collaborative approach to attract investment in oil refining hubs throughout the continent and has hinted that Saudi Arabian investment in refining capacity in South Africa may soon become a reality. “In South Africa we believe the time has come for an... 

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... 

Petrobras to sell stake in Africa unit to Vitol-led group for $1.5bn

By: Reuters     1st November 2018 Brazil's Petroleo Brasileiro SA will sell its 50% stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53-billion, the latest step in the state-controlled oil company's debt reduction drive, according to a securities filing on Wednesday. The other... 

Nigeria's NNPC signs crude-for-product swap deal with BP

By: Reuters     1st November 2018 Nigeria's state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP. In its brief statement on Twitter late on Wednesday, NNPC said more details would be provided later. BP and NNPC did not immediately respond to requests for comment on Thursday. 

Cybersecurity must be managed at board level, urges Gautrain boss 

By: Irma Venter     30th October 2018 Cybersecurity must be managed proactively at board level, says Gautrain Management Agency (GMA) CEO Jack van der Merwe. “It must be led by senior management and assured by corporate governance. It is a line function and not a staff function.” 

Nigerian court adjourns case between MTN, central bank to Dec 4

By: Reuters     30th October 2018 A Lagos judge adjourned a hearing on Tuesday in a $10.1-billion dispute between South African telecoms firm MTN Group and Nigeria's central bank to Dec 4. The central bank alleges the firm illegally sent $8.1-billion abroad, and the Nigerian government has demanded $2-billion in taxes from MTN. 

Industry growth demands maintenance skills

By: Tracy Hancock     26th October 2018 With the growth in wind energy utilities, the demand to install, repair and maintain such facilities in Africa, including South Africa, is on the rise, says Knowledge Pele (KP) Academy head Richard Setati. He tells Engineering News that many reports and commentators attest to the overall growth... 

New genset aims to transform the power base of Africa’s telecoms towers

By: Natasha Odendaal     26th October 2018 Microturbine generator sets (genset) designer, developer, engineer and manufacturer Bladon Micro Turbine has developed a microturbine genset specifically designed for the global telecoms tower market. The Coventry-based group’s first commercial product, the 12kW Bladon MTG12, aims to dominate the... 

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. 

US Justice Dept demands details from Glencore on intermediary firms – sources

By: Reuters     23rd October 2018 The US Department of Justice is seeking documents from Glencore about intermediary companies that the commodities firm has worked with in the Democratic Republic of Congo, Venezuela and Nigeria, sources familiar with the matter said. The investigation is not directed at Glencore's own activities... 

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. 

Congo sets deadline for plan on 11 000 MW hydropower plant

By: Bloomberg     22nd October 2018 The Democratic Republic of Congo gave two groups of investors a four-week deadline to submit a joint proposal on the development of the multibillion-dollar Inga 3 hydropower plant. The government signed an accord with Chinese and Spanish consortia this week to advance the 11 000 MW facility, the... 

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... 

Saoga upbeat about prospects for the gas industry in South Africa

By: Kim Cloete     19th October 2018 The South African Oil & Gas Alliance (Saoga) believes there are catalytic opportunities for developing the gas industry in South Africa, which have been buoyed by a renewed focus on attracting investment to the country. The two major opportunities will be the massive gas finds in neighbouring... 

Sub-Saharan Africa's big economies yet to recover

By: Reuters     19th October 2018 Sub-Saharan Africa's economic recovery will progress slowly into next year, as the continent's biggest drivers struggle to move into higher gear despite a healthier global economy, a Reuters poll found on Friday. Commodity prices have improved and the global economy is in good shape, but Nigeria... 

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... 

Private-equity firm seeks out opportunities in Africa

By: Natasha Odendaal     19th October 2018 Fully black-owned private equity company Agile Capital is actively seeking to invest millions of rands into diverse sectors and companies with a solid presence across Africa. The pan-African group, formed in 2016 following the management buy-out of Zico Capital, has available capital of about... 

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... 

Nigeria central bank, MTN getting closer to settlement – Minister

By: Reuters     18th October 2018 Nigeria's central bank and South African telecommunications firm MTN could soon strike a deal in their dispute over the repatriation of $8.1-billion, Nigeria's information minister said on Wednesday. The central bank says MTN transferred $8.1-billion of funds out of Nigeria in breach of... 

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.... 

Nigeria State oil company denies existence of $3.5bn fuel subsidy fund

By: Reuters     17th October 2018 Nigeria's State oil company on Wednesday denied parliament's accusation that it had a $3.5-billion fund to surreptitiously subsidise imports of gasoline. The upper house Senate said on Tuesday it would investigate the fund it said the Nigerian National Petroleum Corporation (NNPC) was using... 

What’s changed and what remains the same 20 years after the launch of Google Search?

By: Natasha Odendaal     12th October 2018 As Google Search celebrates its twentieth year, the local division has revealed how South Africans use search, the significant surge in searches and overhauls underway to improve the popular feature. Google has experienced significant growth over the past two decades, starting from an offering in... 

Initiated by Schneider Electric, New Pan-African and Non-profit Data Center Professional Association ADCA, launched at Datacloud in Marrakech

11th October 2018 The new association encompasses 60 members to date including 30 data center operators committed to boosting the African digital economy The President is Fatoumata Sarr Dieng, Director of Wholesales at Sonatel, Orange Schneider Electric chairs as Vice President 

Helios to enter South Africa within the next year, says CEO

By: Bloomberg     9th October 2018 Helios Towers wants to enter South Africa within the next year, helping the mobile phone tower operator build scale as it prepares for a stock market listing as early as 2019. Helios is in talks with potential partners to comply with South Africa’s black economic empowerment requirements and... 

Bladon’s new microturbine genset to power up telecoms towers

By: Natasha Odendaal     9th October 2018 UK-based engineering pioneer Bladon Micro Turbine has launched its first commercial product, the Bladon MTG12 – a 12 kW (15 kVA) microturbine generator set (genset) dedicated to powering global telecoms towers. The microturbine genset manufacturer aims to dominate the telecoms tower market where... 

Science fair affords students learnerships, prizes to promote science skills development

By: Marleny Arnoldi     5th October 2018 During the Eskom Expo International Science Fair, which was held from October 3 to 5, the Eskom Senior Grand Prize was awarded to a Curro Klerksdorp Grade 12 learner Aqil Variava, who developed the “pollution index” – a tool to investigate water quality. He won a R75 000 cash prize.  

Tech advances poised to shorten prospecting-to-mine-development timelines

By: Tracy Hancock     5th October 2018 The impact of the Fourth Industrial Revolution on the minerals industry has not yet played out, but South Africa's, and the world’s, ability to generate massive amounts of data and integrate and use them will undoubtedly improve, leading to an acceleration in mineral exploration in the future,... 

SA to offer Swahili as a school subject

By: Martin Zhuwakinyu     5th October 2018 Readers of this column who are not news junkies like yours truly may have missed the announcement, made last month: South African schools, both public and private, will be offering Swahili as an optional language from 2020, alongside such foreign languages as French, German and Mandarin, which... 

African transport infrastructure insufficient for continental growth – Nzimande

By: African News Agency      4th October 2018 Transport Minister Blade Nzimande has said that if Africa wants to capitalise on its fast growth trajectory it needed better transport and logistics as current infrastructure was “insufficient”. Delivering the keynote address at the 2018 African Ports and Rail Evolution Conference at the Inkosi... 

Investment dream team has hit the ground running – Ramaphosa 

By: News24Wire      3rd October 2018 President Cyril Ramaphosa says his special envoys on investment have held 150 meetings with investors in total - visiting Johannesburg, Cape Town and nine countries over five months. This as Ramaphosa updated Members of Parliament in a written reply to questions on one of his earliest economic... 

World Bank lowers 2018 growth forecast for South Africa 

By: Terence Creamer     3rd October 2018 The World Bank has lowered its 2018 gross domestic product (GDP) growth forecast for South Africa to 1%, from an April projection of 1.4%, and says the country’s growth will remain subdued in 2019. The bank also lowered its 2019 projection for South Africa to 1.3%, from 1.8% in April, and... 

Every wealth journey is unique: Standard Bank Wealth teams up with famed sculptor to craft ‘barcoded’ clay work that showcases the art of uniqueness


3rd October 2018 As a leading patron of the arts, Standard Bank Wealth and Investment has commissioned African artist Nkosinathi Thomas Ngulube to develop a distinctive clay sculpture that reflects its own philosophy of sculpting award-winning services and solutions that grow, preserve and protect wealth.
  
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... 

Orange, MainOne team up in submarine cable expansion

By: Natasha Odendaal     28th September 2018 French telecommunications group Orange and connectivity and data centre services provider MainOne Cable have signed an agreement that will see Orange inject undisclosed major investments into the West African submarine cable system MainOne. Under the partnership, Orange will acquire additional... 

MTN tells Nigerian staff to stay at home due to strike

By: Reuters     27th September 2018 South Africa's telecoms group MTN on Thursday told its staff in Nigeria to stay at home after the country's main unions launched a nationwide strike to demand a higher minimum wage from the government. Talks between the Nigerian Labour Congress (NLC) and the government to avert the strike broke... 

Opec will balance oil markets, but spare capacity limited – Nigerian official

By: Reuters     26th September 2018 The Organization of the Petroleum Exporting Countries (Opec) will act to balance the market after oil prices hit their highest in four years, but its options may be limited by available spare capacity, a Nigerian oil industry official said on Wednesday. "It's obvious that if you have high prices... 

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