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Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in South Africa

By: Mia Breytenbach     23rd February 2018 With investors continuously scouring for new opportunities worldwide and countries scrutinised for their investment attractiveness and moni- tored in terms of economic growth, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry... 

Nigerian State oil firm spent $5.8bn on fuel imports since late 2017

By: Reuters     21st February 2018 Nigeria's State oil firm said on Tuesday it had spent $5.8-billion on fuel imports since late 2017, as it combats a fuel shortage that has left people queuing for hours at filling stations and hobbled an already-struggling economy. "The corporation's intervention became necessary following the... 

Canada's Thor Explorations may raise up to $35m in a London listing

By: Reuters     12th February 2018 African miner Thor Explorations will most likely choose London's junior AIM market to list its shares this year in its bid to raise up to $35-million, its chief executive said on Friday. Thor, which is already listed in Toronto's TSX Venture Exchange (TSX-V), will use the proceeds of the new... 

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... 

Chamber-mentored black emerging miner hits high spots in contest

By: Martin Creamer     7th February 2018 Chamber of Mines-mentored black emerging mining company Opal Mining on Wednesday hit the high spots on the investment battlefield stage at the Investing in African Mining Indaba. Opal, headed by group executive chairperson Paul Ranamane succeeded in reaching the semi-finals of a tough... 

AfDB boosts ALBC Fund books with R140m loan

By: Megan van Wyngaardt     5th February 2018 To further enhance the African Local Currency Bond Fund (ALCB Fund) portfolio and promote the development of domestic capital markets across the continent, the African Development Bank (AfDB) has approved a loan of R140-million. The senior loan, with a seven-year tenor including a two-year grace... 

The growing importance of Gas in the Africa Mix, latest market trends

     1st February 2018 The 3rd Africa Gas Forum will be taking place on Monday, 19th February 2018 at the Sandton Convention Centre, Johannesburg, South Africa, and is affiliated to African Energy Indaba (AEI) as an official side event. With African economic growth in 2018 making a recovery after a difficult year,... 

Cummins Launches Simulator To Demonstrate Complete Power Systems

     1st February 2018 Cummins Power Generation has officially launched a new simulator at the Cummins Training Centre in Kelvin, Johannesburg to demonstrate its entire product line-up as an integrated solutions approach, from genset controls to annunciators, remote monitoring, Digital Master Control (DMC), and... 

Erin Energy discovers hydrocarbons at Nigeria well

By: Anine Kilian     31st January 2018 JSE-listed Erin Energy has completed drilling of its Nigeria-based Oyo-NW well and, based on preliminary evaluation, has discovered hydrocarbons in the Miocene formation. The well is located about 9.5 km northwest of the Oyo Central field on the company’s block 120 offshore Nigeria. 

MTN expects improved FY17 headline earnings 

By: Anine Kilian     29th January 2018 JSE-listed MTN expects to report an improvement of at least 20% year-on-year for headline earnings per share (HEPS) and earnings per share (EPS) for the 12 months ended December 31, 2017. The telecommunications group reported a 77c headline loss a share and a 144c attributable loss a share in... 

Nigeria's 9mobile takeover looms as advisers evaluate bids – sources

By: Reuters     26th January 2018 Barclays Africa is examining takeover bids from five prospective buyers for Nigeria's debt-laden 9mobile, two banking sources said, although a deal may take a few months as it will involve restructuring the company's debt after a default last year. Barclays Africa, appointed by Nigerian banks to... 

Junior projects lighting bright path into Africa for ‘search and solve’ group

By: Martin Creamer     26th January 2018 Motor and controls manufacturer Zest WEG Group, which designs, manufactures, markets and installs electrical products and solutions across the full electrical spectrum, is achieving great success with its new specially crafted ‘pavement pounding, search and solve’ business model that ensures... 

Cities turn to digital solutions to solve service delivery problems

By: Schalk Burger     26th January 2018 Digital technologies are providing cities worldwide, including several in Africa, with a new set of tools to improve service delivery and bolster social and economic inclusion. The smart city movement focuses on how technology can serve citizens and how it can make cities more equal and provide a... 

Money no panacea for education’s ills

By: Martin Zhuwakinyu     26th January 2018 The excitement around the results of last year’s matric exams has now died down. Indeed, the class of 2017 gave a very good account of themselves, with those who sat for the exams at private schools notching up a 98.76% pass rate and their public-school counterparts 75.1%. Hats off to them. One... 

Cities turn to digital solutions to solve service delivery problems

By: Schalk Burger     26th January 2018 Digital technologies are providing cities worldwide, including several in Africa, with a new set of tools to improve service delivery and bolster social and economic inclusion. The focus of the smart city movement is how technology can serve citizens, how it can make cities more equal and provide... 

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.  

New optimism in the mining sector sees leading suppliers sign up for West Africa’s premier expo

     25th January 2018 WAMPEX will be a key focus in 2018 for mining growth across the region following renewed commitment from governments and increasing levels of investment Top suppliers have already signed up to be part of next year’s premier mining expo for West Africa, WAMPEX 2018, which is celebrating its 24th... 

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... 

Nigeria passes major oil reform bill after 17 year struggle

By: Reuters     19th January 2018 Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

Nigeria lawmakers look into recovering $21bn revenues from oil groups

By: Reuters     19th January 2018 Nigerian lawmakers ordered an investigation on Thursday into whether the government could recover $21-billion in revenues from international oil companies. Oil minister Emmanuel Ibe Kachikwu said in December the government had failed to enforce a legal provision entitling it to a greater share of... 

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... 

Nigeria moves closer to turning long-awaited oil bill into law

By: Reuters     18th January 2018 Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the Senate last year, a lawmaker in the House of Representatives said on Thursday. It is the first time both houses have... 

MTN optimistic about Africa’s future growth

By: Natasha Odendaal     18th January 2018 Nine months after taking the reins as president and CEO of MTN, Rob Shuter remains confident of the future of the company and its opportunities across its 22 markets in the Middle East and Africa. Addressing delegates at Deloitte’s yearly Africa Outlook conference, Shuter said there were more... 

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.... 

Niger Delta Avengers say they will attack Nigeria's oil sector within days

By: Reuters     17th January 2018 Nigerian militant group Niger Delta Avengers said on Wednesday it planned to launch attacks on the country's oil sector in the next few days. The group claimed responsibility for most attacks on oil facilities in the Niger Delta in 2016, which cut Nigeria's crude production from a peak of... 

Global air travel passenger demand growth strengthens

By: Anine Kilian     11th January 2018 The International Air Transport Association said in a statement on Thursday that global passenger traffic results for November 2017 showed continued robust demand. Total revenue passenger kilometres rose 8% compared with November 2016 – the fastest growth rate in five months – and up from a 7.3%... 

KO Victory for SBS Tanks® ‘Fight for Water’ Campaign

     10th January 2018 SBS Tanks® has stepped into the sporting arena to team up with KZN Boxing in a new campaign called ‘Fight for Water’, which has been fully sanctioned by Boxing SA. This sponsorship hopes to empower KZN rural communities with essential access to water through the supply of SBS water tanks, while... 

Global growth report highlights South Africa’s laggard status

By: Terence Creamer     10th January 2018 The World Bank expects growth in South Africa to recover to 1.1% in 2018, from 0.8% in 2017, on the back of improving business sentiment, which should support a modest rise in investment. The January Global Economic Prospects report upgraded the bank’s estimate of South Africa’s 2017 growth... 

Off-grid solar set to boom in Africa

     9th January 2018 The role of off-grid and mini-grid in rural electrification in Africa, will be a key discussion session during the 10th Africa Energy Indaba Conference on 20-21st February 2018 at the Sandton Convention Centre in Johannesburg, South Africa, supporting the immense growth potential of solar. Solar... 

Will intra-Africa trade come of age in 2018?

By: African News Agency      3rd January 2018 Overcoming the barriers for intra-African trade to double in a decade can feel like a Sisyphean task – impossible to complete. But that is the objective of the Boosting Intra-African Trade (BIAT) action plan, which targets to double flows between January 2012 and January 2022. Many individual... 

Phone company MTN assigns its long dated shareholder loan to IHS Holding

By: African News Agency      29th December 2017 Mobile phone company MTN said on Thursday it had, through MTN Nigeria Towers, assigned its shareholder loan of approximately $231-million, which was due in 2024/25, to IHS Holding. The group said the agreement allowed MTN Nigeria to continue to invest in its network more efficiently, and further... 

Fuel shortages leave motorists stranded in Nigeria

By: African News Agency      27th December 2017 Many motorists and commuters have been stranded in Nigeria over the Christmas period following a three-week fuel shortage, Kenya’s Daily Nation reports. Long queues of motorists and buses were seen forming at petrol stations in a number of Nigeria’s major cities. Prices have been hiked... 

Novare opens two new malls in sub-Saharan Africa

By: Megan van Wyngaardt     15th December 2017 Private equity fund Novare Fund Manager, which invests in retail and commercial real estate in sub-Saharan Africa, excluding South Africa, opened over 34 000 m2 of prime retail space over the last two weeks in Nigeria and Mozambique. Novare Gateway – a modern lifestyle centre of 15 000 m2... 

Too soon to despair

By: Martin Zhuwakinyu     15th December 2017 Question marks have been hanging over the Africa Rising narrative in recent times, with sceptics pointing to faltering gross domestic product (GDP) growth in many countries on the continent. But is this sweet dream dead in the water? For the uninitiated, this snappy appellation was coined to... 

Demand for ICT skills outstripping supply, survey shows

By: Schalk Burger     15th December 2017 Delays in information and communication technology (ICT) policy implementation, as well as a lack of improvement in basic education and current, coordinated data, are reducing the potential economic contribution of the ICT sector, according to the University of the Witwatersrand-based... 

Katsina solar photovoltaic power plant, Nigeria

By: Sheila Barradas     15th December 2017 Pan Africa Solar plans to build a 75 MWac solar photovoltaic plant in Katsina state, the largest in Nigeria. 

WiFi can aid in water crisis

By: Marleny Arnoldi     8th December 2017 During a water crisis, readily available technology, such as the Internet of Things, enabled through WiFi, can be used to apply water management systems throughout a city including monitoring use, pinpointing leaks and curbing excessive use, says wireless solutions provider Ruckus.  

SA’s not-so-impressive showing in the governance stakes

     8th December 2017 South Africa is a force to be reckoned with in Africa. It is one of the continent’s powerhouses – politically and economically – with its gross domestic product (GDP) being the largest, although it had to contend with being second best to Nigeria in the GDP stakes between 2014, when the latter... 

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