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Renewable grids present investment opportunity

By: Paige Müller     15th February 2019 The recent trend towards the development of renewable energy, including those based on smart grids and microgrids in Africa, has encouraged the establishment of a new renewable energy equity fund. With the Africa Energy Indaba set to take place from February 19 to 20 at the Sandton Convention... 

Siemens launches FABRIC – Turning urban data into a dynamic visualization of Jamestown

By: Creamer Media Reporter      11th February 2019 Design and Data combine to tell a fascinating story about Jamestown, Accra. Leveraging Digital technology with Electrification and Automation domain know-how can help build a more resilient Ghana. 

Big economic opportunity being missed as ewaste piles up

By: Natasha Odendaal     8th February 2019 The rise in electronic and electrical waste (e-waste) is resulting in a lost economic opportunity of $62.5-billion a year– a value greater than the gross domestic product of most countries – a new report shows. Each year, about 50-million tonnes of e-waste is being discarded – with less than 20%... 

Nigerian court adjourns MTN case until March 26

By: Reuters     7th February 2019 A judge has adjourned a Lagos court case between South African telecoms firm MTN Group and Nigeria’s attorney general over a $2-billion tax demand until March 26, the court said on Thursday. MTN faces the demand from the country’s attorney general, a claim which the company has said is without... 

Thor envisions Nigeria gold mine construction to start in Q2

By: Marleny Arnoldi     5th February 2019 Canadian junior Thor Exploration’s definitive feasibility study (DFS) at its Segolila gold project, in Nigeria, envisions a construction start date in the second quarter of the year and an 18-month construction period, for an initial five-year mine life. The company is proceeding with... 

Sub-Saharan Africa Eurobonds to perform better this year

By: Reuters     1st February 2019 Eurobonds from sub-Saharan Africa will perform better this year even though debt levels in some parts of the region are ballooning, as diminishing prospects for further U.S. interest rate hikes support demand, a Reuters poll found. All but one of ten analysts surveyed this week said it would be a... 

Cummins Inc. Celebrates Centennial Year

30th January 2019 Cummins Inc. is celebrating its 100th year as a company throughout 2019. Cummins today, which is listed as a Fortune 150 company, employs around 60 000 people worldwide, and serves customers in nearly every country across the globe. Cummins products range from diesel and natural gas engines to... 

Volkswagen signs agreement with Ethiopia to develop auto industry

By: Irma Venter     29th January 2019 Volkswagen has signed a memorandum of understanding (MoU) with the government of Ethiopia to deliver a joint vision for the development of an automotive industry in the East African country. The MoU was signed by Volkswagen sub-Saharan Africa region head Thomas Schaefer and Ethiopian Investment... 

SAIIA, Brookings launch Foresight Africa report   

By: Sane Dhlamini     28th January 2019 The South African Institute of International Affairs (SAIIA) and the Brookings Institution’s Africa Growth Initiative (AGI) launched the Foresight Africa report on Monday, in Johannesburg, highlighting the top priorities for the continent in 2019.  AGI senior fellow and director Brahima Coulibaly... 

GEF, UN Environment partner with tech companies to launch e-waste economy in Nigeria

By: Marleny Arnoldi     24th January 2019 The Nigerian government, the Global Environment Facility (GEF) and UN Environment have partnered with Dell, HP, Microsoft and Phillips to launch a $15-million investment to create a formal electronic-waste (e-waste) recycling industry in Nigeria. A report published on Thursday by the World... 

Africa's position as the world's hottest oil and gas frontier to be entrenched this year

By: African News Agency      22nd January 2019 The year ahead will be key for the advancement of new exploration and production development projects from West to East Africa in the hydrocarbons market, entrenching the continent’s position as the word’s hottest oil and gas frontier, the African Energy Chamber (AEC) has said. The year however... 

Key African central banks to hold rates on inflation, oil prices

By: Bloomberg     16th January 2019 Africa’s key central banks are expected to hold benchmark interest rates at their first meetings of the year – albeit for different reasons. While the drop in oil prices could give South African and Kenyan policy makers room to hold off on further rate increases, currency pressures could keep the... 

Vedanta tells top English court pollution case should be heard in Zambia

By: Reuters     16th January 2019 Lawyers for Vedanta Resources told England's Supreme Court on Tuesday that a case raised against the mining company by nearly 2 000 Zambian villagers should be heard in Zambia not London. India-listed Vedanta, which delisted from London last year but maintains a legal base in Britain, is... 

November airline traffic healthy, but moderating – Iata

By: Tasneem Bulbulia     9th January 2019 The International Air Transport Association (Iata) on Tuesday announced healthy, but moderating, global passenger traffic results for November 2018. Total revenue passenger kilometres (RPKs) rose by 6.2% compared with November 2017, a slight deceleration from 6.3% growth in October. 

Africa 2019 – The Optimist's View

By: Creamer Media Reporter      8th January 2019 Is there a new scramble for Africa? Why should Africa be confident? These and other questions are eloquently ventilated at the plethora of Africa Investment conferences – including our own Hogan Lovells Africa forums in London and Johannesburg –and 2018 has been no different. 

Nigerian court to hear MTN and attorney general case on Feb 7 – registrar

By: Reuters     3rd December 2018 A Lagos court hearing concerning a dispute between South African telecoms firm MTN Group and Nigeria's attorney general over a $2-billion tax demand will take place on Feb. 7, a registrar said on Monday. MTN faces a $2-billion tax demand from the country's attorney general, a claim which the... 

Nampak produces ‘pleasing’ FY18 results despite challenging environment

By: Nadine James     27th November 2018 Packaging company Nampak has achieved positive results for its continuing operations for the financial year ended September 30, with profit up 29% year-on-year to R1.2-billion and headline earnings a share up 15% year-on-year to 168.7c a share. Nampak CEO André de Ruyter told Engineering News... 

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.... 

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