This is your complimentary issue of the weekly Africa Investment Alert, which highlights news from local and international media on both internal and external investment in Africa.  For the duration of the coronavirus pandemic, Africa Alert is publishing a regular Africa and Coronavirus Alert. To subscribe to this or any other alert go to our subscribe page

Africa Alert

Africa Investment

Published: 12 Aug 2020 23:25

 Africa Investment (81) 

Top Stories

Africa: Why MTN Is Ditching Almost Everything Else For Africa

In a new development for the African telecoms landscape, South African-born mobile operator, MTN is burning the bridges that connect it with the Middle East. To focus more on Africa, the billion-dollar telco will sell its businesses in countries like Syria and Yemen. In the region, the business losing money on falling regional currencies, suffering from volatile geopolitics, and facing problems with Western sanctions. MTN is the largest telecoms company in Africa, with operations in 17 countries in the continent.  ...

Source: Wee Tracker (07 Aug 2020 )  Share

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Africa, Germany: Germany to Ramp Up Investment in African Energy

“Germany-Africa Economic Relations: Making Deals Post COVID-19” highlighted opportunities for German businesses in Africa’s power production, clean energy, and digitalization and technology sectors ...

Source: CNBC Africa (07 Aug 2020 )  Share

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East Africa, USA: US INVESTMENT PROGRAMME IS AN AFRICAN 'GAME-CHANGER'

Leading East African planning, design, architecture and engineering team FBW Group has welcomed the launch of the USA's Africa Investment ...

Source: East African Business Week (06 Aug 2020 )  Share

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Equatorial Guinea, Cameroon: L’entrée de Chevron en Guinée équatoriale et au Cameroun pourrait être un tournant pour l’industrie gazière d’Afrique centrale

L'acquisition récemment annoncée de Noble Energy par Chevron pour 13 milliards de dollars donne à la major américaine une entrée dans le secteur pétrolier et gazier de Guinée équatoriale, où Noble Energy détient des participations dans le champ d'Alba (33% de WI non exploité et 32% ...Translate

Source: Alwhida Info (05 Aug 2020 )  Share

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Kenya, Nigeria: Entrepreneur sees opportunity for childcare-related e-commerce and information

Bliss Group seeks a slice of an estimated $7 billion market in Kenya and Nigeria.

Source: How We Made It in Africa (04 Aug 2020 )  Share

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Morocco, Peru:  Morocco, Peru Have Strong Willingness to Strengthen Cooperation in Various Fields (Ambassador)

Lima — Morocco and Peru are driven by a strong willingness to continue consolidating their relations and raise them to a multidimensional level of cooperation to strengthen political dialogue and trade, said Morocco's ambassador in Lima, Amine Chaoudri. In an article published in Peruvian papers on the occasion of the celebration of the glorious Throne Day, ...

Source: Maghreb Arabe Presse (04 Aug 2020 )  Share

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Namibia:  Environmental Investment Fund Resource Mobilisation Totalled U.S.$87,3 Million

As a task to expand its revenue optional pool to diversify its resources, the Environmental Investment Fund of Namibia (EIF) established a Resource Mobilisation Strategy as a framework for revenue generation through which it managed to mobilise about N$1.3 billion. This was confirmed in the Fund's 2018/2019 annual report. CEO of EIF Benedict Libanda said N$560 million of ...

Source: New Era (05 Aug 2020 )  Share

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Nigeria: Coronavirus presents a tremendous opportunity to attract domestic investment in Nigeria ...

On Thursday, 16 July 2020, Yewande Sadiku, the Executive Secretary and Chief Executive Officer of Nigerian Investment Promotion Commission ...

Source: nairametrics (05 Aug 2020 )  Share

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South Africa: Why invest in Africa?

Africa, like the rest of the world, will be hard hit by the after- effects of Covid-19. However, in the long-term, Africa will provide great opportunities for investors and companies that wants to expand their interests and diversify their operations.  WhyAfrica was launched during one of the most significant events in modern human history. This, our first newsletter, was ...

Source: Why Africa (06 Aug 2020 )  Share

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South Africa: Microsoft to invest R40 million in agritech for SA smallholder farmers

Microsoft South Africa has announced it will be investing up to R40 million into the South African agricultural landscape. The capital injection is aimed ...

Source: Food For Mzansi (05 Aug 2020 )  Share

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Tanzania, USA: EDITORIAL: New US envoy’s promise on Tanzania ties heartening

Last Sunday, President John Magufuli accepted the credentials of a new US ambassador to Tanzania, Dr Donald J. Wright, at the State House in Dar es Salaam.

Source: The Citizen (07 Aug 2020 )  Share

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Africa

Africa: Africa's airspace after COVID-19

The question for African airlines is how these changes might affect the ... enough and those airlines that are big enough will continue to invest in Africa.

Source: The Southern Times (07 Aug 2020 )  Share

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Africa: Covid-19: A 'clarion call' for Africa to invest in science

A number of political heavyweights joined forces last week to call on African countries to invest in their R&D capacity in order to fight the coronavirus ...

Source: researchprofessionalnews.com (06 Aug 2020 )  Share

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Africa: Mohammad Alshereda Pushes for an Investment in Africa

What are a few of the reasons why people should consider investing in Africa? Without a doubt, the best time to invest in Africa is now. While foreign ...

Source: Streetinsider.com (06 Aug 2020 )  Share

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Africa: African Gov'ts urged to invest in technology to cushion small holder farmers

African governments, seed companies and regional bodies have been asked to promote appropriate agricultural technologies and innovations that ...

Source: KBC Channel (06 Aug 2020 )  Share

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Africa: CEO reflects on his journey of building a digital insurance business in Africa

Jeremy Leach is the founder and CEO of Inclusivity Solutions, a company which designs, builds and operates digital insurance products.

Source: How We Made It in Africa (05 Aug 2020 )  Share

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Africa: YPO Africa and Invest Africa Partner to Further Scale YPO's Lead COVID-19 Response Impact ...

YPO Africa, a global leadership community of chief executives, and Invest Africa, the leading trade and investment platform for Africa, have entered ...

Source: PR Web (05 Aug 2020 )  Share

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Africa: Trading Places: How Africa Is Reshaping The Global Economic Landscape

Nazaru showcases the strengths that Africa has to offer buyers, sellers, investors, and corporate business leaders looking to partner or invest in the ...

Source: Black Enterprise (05 Aug 2020 )  Share

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East Africa

Ethiopia: Lion International Bank partners with Thunes to launch cash pickup service

SINGAPORE ( Thunes ) – Ethiopia’s Lion International Bank S.C. (LIB) partners with Singapore-based global cross-border payment provider Thunes to launch a cash pickup service in Ethiopia. Through the partnership, funds recipients can now collect cash from over 260 branches of Lion International Bank across the country. Ethiopia is a high remittance-receiving ...

Source: Semonegna (06 Aug 2020 )  Share

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Ethiopia: Ethiopia Will Become Africa's Power House and Economic Magnet

The negotiations surrounding GERD and the actual construction of the dam has remained one of the major talking points at the corridors of global conferences and media centers over the last decade. The Renaissance Hydroelectric Dam is only one of the dams that are heralding the rebirth of this country and the natural filling of the dam is reportedly going on along with the progress in the construction work. With 12 more major rivers basins that dissect the country and some of which majestically flow outside

Source: The Ethiopian Herald (05 Aug 2020 )  Share

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Ethiopia: Untapped Tourism Potential Still Exists in Ethiopia

ADDIS ABABA - With nine World Heritage sites and commitment from the government to achieve reforms, Ethiopia still has room for growth in its tourism sector. Ethiopia has still untapped tourism potential despite current rugged outlook says JLL.

Source: The Ethiopian Herald (04 Aug 2020 )  Share

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Ethiopia, Togo: ASKY, Sabre partnership to help in recovery of travel in Africa

August 07, 2020: West-African airline ASKY signed a multi-year agreement with Sabre Corporation. The agreement will allow ASKY to leverage the global travel technology leader’s passenger service system and its recently-launched Sabre Commercial Platform – the industry’s only intelligent retailing platform. Recently, International Air Transport Association (IATA) urged ...

Source: Logistics Update Africa (07 Aug 2020 )  Share

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Kenya:  Joint Statement Between the United States and Kenya on the Launch of Negotiations Towards a Free Trade Agreement

Today, United States Trade Representative Robert Lighthizer and Kenya Cabinet Secretary for Industrialization, Trade, and Enterprise Development Betty Maina formally launched trade agreement negotiations between the United States and the Republic of Kenya. “Kenya is a recognized leader across the continent, an important strategic partner of the United States, and ...

Source: United States Trade Representative (05 Aug 2020 )  Share

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Kenya, West Africa: Twiga Foods puts West African expansion plan on hold

Kenyan-based food distribution company Twiga Foods has decided to suspend plans to expand into the West African region, chief executive Peter Njonjo has said, as the startup shifts its focus to markets within East Africa... The post Twiga Foods puts West African expansion plan on hold appeared first on Ventures Africa .

Source: Ventures Africa (08 Aug 2020 )  Share

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Kenya:  Inside State's Mega Plans to Revive the Ailing Sugar Sector

Plans by the government to turn around the fortunes of State-owned sugar factories involve waiving of debts of struggling millers in Western and Nyanza regions and the leasing out of five millers. The revival strategy involves addressing the litany of management woes that have crippled operations over the years, the waiving of debts amounting to billions of shillings and ...

Source: The Nation (04 Aug 2020 )  Share

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Somalia:  Bids Open for the Country's First-Ever Oil Block Licensing Round

Somalia has announced that it is opening licensing rounds for seven offshore oil blocks. This comes days after the Federal Government of Somalia approved the board members of the newly established Somali Petroleum Authority (SPA), which will serve to be the regulatory body of Somalia's oil and gas industry. Somalia's Minister of Petroleum and Mineral Resources Abdirashid ...

Source: Shabelle Media Network (07 Aug 2020 )  Share

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Tanzania:  Epza Woos More Investment in Agro Industries

THE Export and Processing Zones Authority (EPZA) has appealed to local and foreign investors to establish agro processing industries to take advantage of the huge availability of raw materials from the agriculture sector. There are currently more than 170 industries that have been established under the EPZA and over 40 per cent are dealing with agro processing ...

Source: Tanzania Daily News (07 Aug 2020 )  Share

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Tanzania:  Tanzania Banks On Agriculture to Achieve Upper Middle Income Status

Sumbawanga — Agriculture has what it takes to boost Tanzania's economic growth and elevate the country's status to an Upper Middle Income Country (UMIC), a senior government official has said. On July 1, 2020, the World Bank elevated Tanzania from a Least Developed Country (LDC) to a Lower Middle Income Country (LMIC). The World Bank put Tanzania's per capita ...

Source: The Citizen (07 Aug 2020 )  Share

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Tanzania: PIATA-TIJA stimulates increased private investments in Ruk wa, Katavi

TANZANIA is currently witnessing an agricultural revolution of moving from food selfsufficiency to processing and trade by increasing exports in line with the implementation of the country’s Agriculture Sector Development Programme II (ASDP II). The thrust of this ASDP II programme, according to government authorities, is to encourage all regions in the country ...

Source: Daily News (07 Aug 2020 )  Share

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Uganda: UCC,UTB Sign MOU To Promote Film Tourism

The Uganda Communications Commission (UCC) and Uganda Tourism Board (UTB) have sealed a partnership by signing a Memorandum of Understanding that details how they both plan to work together to improve Uganda’s brand as a film and tourism destination. UCC and UTB are two government agencies with two distinct mandates. However, they share profound enthusiasm for the film ...

Source: SpyReports (05 Aug 2020 )  Share

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Uganda:  Production of Alcohol in Sachets On Despite Ban

Even after the government in 2017 banned the trade on alcohol in sachets and 200 millilitre packages with the aim of minimising reckless consumption, business on illicit alcohol products has persisted. Illicit alcohol refers to substances which have contents that are harmful to consumers due to substandard and illegal processes employed during the manufacturing. The ...

Source: The Monitor (04 Aug 2020 )  Share

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West Africa

Burkina Faso: Economie : Le ministre Harouna Kaboré veut développer une « industrie locale » autour de la BRAKINA

Le Ministre du Commerce, de l'Industrie et de l'Artisanat, Harouna Kaboré, a effectué une visite dans l'usine de production des Brasseries du Burkina Faso (BRAKINA), ce lundi 3 août 2020 à Ouagadougou. Objectif, encourager les travailleurs et surtout discuter des perspectives d'intégration des fournisseurs locaux dans la chaîne d'approvisionnement ...Translate

Source: Le Faso (07 Aug 2020 )  Share

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Ghana: MacDan applauds govt for GH¢100bn ‘Obaatan Pa’ coronavirus recovery plan

The Chief Executive Officer of the MacDan Group of Companies Daniel Mckorley, has commended government for initiating a GH¢100 billion recovery programme to revitalise and grow the Ghanaian economy following the outbreak of the Coronavirus disease in the country. According to him, the programme, dubbed ‘Ghana CARES, Obaatan Pa’, was the surest way to mitigate the ...

Source: GhanaWeb (06 Aug 2020 )  Share

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Ghana: No import duty on Kantanka vehicles as patrons enjoy free DVLA registration

The General Manager of Kantanka Automobile, Francis Kojo Kujoji, has confirmed that there is no import duty required to be paid on any vehicle purchased from Kantanka Automobile Company; and as part of an incentive packages for all their clients, the company assists customers to register their vehicles with the Driver and Vehicle Licencing Authority (DVLA) of Ghana free ...

Source: GhanaWeb (06 Aug 2020 )  Share

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Ghana: AfDB supports coronavirus response plan with US$69 million grant

The Board of Directors of the African Development Fund (ADF) has approved a US$69million grant to support Ghana’s efforts in tackling the COVID-19 pandemic and to mitigate its socio-economic impact on the nation. The grant from the ADF, the concessional arm of the African Development Bank, will provide fiscal budget support to finance government’s ...

Source: GhanaWeb (06 Aug 2020 )  Share

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Ghana:  President Akufo-Addo Unveils First Assembled VW Vehicles in Ghana

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has unveiled the first Volkswagen vehicle to be assembled in Ghana, following the establishment of the VW assembly plant in Ghana. At the unveiling ceremony, held at the Kempinski Hotel, on Monday, 3rd August 2020, President Akufo-Addo expressed his delight at the decision taken by Volkswagen "to assemble a ...

Source: Ghana Presidency (04 Aug 2020 )  Share

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Niger: World Bank disburses $100mln to strengthen decentralized administration and improve mining sector management in Niger

Niger has secured $100 million in funding (both a loan and a grant) from the World Bank to improve its local government services and decentralized management of the mining sector. The information was reported in a press release published by the institution on August 3. Provided as part of the Governance of Extractives for Local Development Project ...

Source: Agence Ecofin-En (05 Aug 2020 )  Share

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Nigeria, China:  What to Know About China Loans and Their Implications for Country

The Nigerian press has been awash with concern about the terms of some loans contracted with or about to be contracted with China. The Minister of Transport, Rotimi Amaechi, even called on legislators to "look the other way" rather than conduct their due diligence on the loans, or else China will withdraw its support. In this report, we try to tease out all the different ...

Source: Premium Times (05 Aug 2020 )  Share

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Nigeria: ZCPI Africa Launches Real Estate Investment Project

Zircon Capital Projects Investments, ZCPI Africa, has launched a real estate capital project to enable Nigerians invest and harness opportunities in the ...

Source: This Day Live (07 Aug 2020 )  Share

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Nigeria: FMO, Proparco and Symbiotics invest in Access Bank Nigeria

Access Bank today is the largest bank in Nigeria and Africa's leading bank by customer base. It is a full service commercial bank operating through a ...

Source: Africa Global Funds (06 Aug 2020 )  Share

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Nigeria:  Businesses Urged to Embrace Foreign Equity Investment

The Chairman of Invest Africa, Mr. Rob Hersov, has advised Nigerian entrepreneurs to promote successful international partnership and equity investment in their businesses. Hersov, said the winning business formula has always been, "local expertise plus international strategic capital equals to market leading businesses." He gave the advice recently, when he presented ...

Source: This Day (05 Aug 2020 )  Share

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Nigeria:  UBA Leads $1.5bn Oil Sector Financing Deal

The United Bank for Africa Plc (UBA), a leading pan-African financial services group, has acted as the lead arranger of a consortium of Nigerian commercial and international banks in a $1.5 billion pre-export finance (PXF) facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC). The ...

Source: This Day (05 Aug 2020 )  Share

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Nigeria: Why Nigeria is Becoming Africa's Fastest Growing Forex Trading Nation

Forex trading became popular in Nigeria in the 1970s when an increase in crude oil and its prices boosted the economy significantly. Since then, it has evolved and grown tremendously, and today Nigeria is one of the fastest growing forex trading nations in Africa. While Nigeria boasts the largest economy in all of Africa ...

Source: Finance Magnates (05 Aug 2020 )  Share

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Nigeria, South Africa: Shoprite runs out of road in Nigeria

The announcement by Africa’s biggest grocery retailer Shoprite that it would be stepping back from the Nigerian market, led to what one commentator called “an earthquake” in Nigerian retail.

Source: How We Made It in Africa (06 Aug 2020 )  Share

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Senegal, Equatorial Guinea, Germany: Senegal and Equatorial Guinea set to discuss post-COVID investments in Africa at GABF webinar

In 2019, the GABF launched a multi-million Euro funding commitment to invest in German energy startups that focus on Africa. The funding commitment, ...

Source: African Review (05 Aug 2020 )  Share

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Senegal: Government exempts renewable energy equipment from VAT

The Senegalese Ministry of Oil and Energy has recently decided to exempt equipments for the production of renewable energies such as solar, wind and biogas from VAT (value added tax). The government's measure is aimed at accelerating the electrification of rural areas in Senegal. The move has been a ...

Source: Afrik 21 (05 Aug 2020 )  Share

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Sierra Leone:  2020 Afrobarometer Survey - S/Leoneans Urge More Investment in Free Education

Majority of Sierra Leoneans has stated that they like the universal free quality education initiative, but however called on the government for greater investment into the initiative. They made the call through the 2020 Afrobarometer survey conducted by the Institute for Governance Reform (IGR) into the government's Free Quality Education flagship programme. The ...

Source: Concord Times (06 Aug 2020 )  Share

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Sierra Leone, Europe: Sierra Leone turn on to Exporting Vegetables to Europe

Through the weekend, the Sierra Leone Investment and Export Promotion Agency (SLIEPA) and supplementary Ministries, Departments and Agencies (MDAs) toured one of Sierra Leone’s contemporary farm produce exporting companies – Fresh Salone (SL) Limited ...

Source: New Africa Business (07 Aug 2020 )  Share

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North Africa

Algeria: Electric car project seeks investors

Oussama Touaba the creator of the first electric car 100% made in Algeria needs financing. The young engineer wants to move from the prototype stage to the production phase of a carbon-neutral urban mobility solution. African products made precisely in Algeria will soon be launched on the world market ...

Source: Afrik 21 (05 Aug 2020 )  Share

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Egypt, Russia: Russia's Sberbank structures Islamic trade finance deal to supply wheat to Egypt

Russia's Sberbank structured its first trade finance agreement with an Islamic bank to supply Russian wheat to Egypt, the largest Russian bank said in a statement on Wednesday.The deal with Saudi Arabia's International Islamic Trade Finance Corporation (ITFC) was implemented through Sberbank's (...)

Source: Masress (08 Aug 2020 )  Share

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Morocco: Exchange Office: Morocco’s Trade Deficit Decreased in First Half of 2020

Rabat – The Moroccan Exchange Office has revealed that Morocco’s trade deficit decreased by 16.2% during the first half of 2020. The deficit translates to more than MAD 85.58 billion ($9.2 billion). The Exchange Office attributes the decrease in Morocco’s trade deficit to the falls in imports and exports by 17.5%, to MAD 206.89 billion ($22.3 billion), and 18.03%, ...

Source: Morocco World News (06 Aug 2020 )  Share

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Tunisia: La cigarette de contrebande envahit l’Algérie : Menace sur la santé des jeunes

Mais les pertes en recettes fiscales restent énormes. A l’échelle mondiale, elles sont liées au tabac illégal, estimées entre 40 et 50 milliards de dollars, ce qui représente l’équivalent de 10% de la valeur de consommation mondiale de cigarettes. Du 21 avril au 27 mai, 25 815 paquets de cigarettes et 1500 kg de feuilles de tabac ont été saisis par les éléments ...Translate

Source: El Watan (08 Aug 2020 )  Share

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Central Africa

Cameroon: Africa Food Manufacture to invest XAF13 bln in the construction of Cameroon's first durum flour mill

(Business in Cameroon) - On July 30, 2020, Africa Food Manufacture (AFM), which produces Broli-branded pasta, signed an investment agreement ...

Source: Business in Cameroon (06 Aug 2020 )  Share

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Chad: Video: Bank’s Governor for Chad on the importance of African nations investing in themselves

 To achieve the Africa we want, the African Development Bank’s Governor for Chad, Issa Doubragne, says countries must invest in themselves by investing in basic infrastructure to boost their economies.“It is very important to process here whatever creates added value… and increases the chances of our economies escaping poverty,” the Minister for Economy, Planning and ...

Source: African Development Bank Group (05 Aug 2020 )  Share

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Southern Africa

Angola: PCA da IPEX destaca importância do investimento externo

Ao discursar na abertura do primeiro seminário sobre Acordos de Promoção e Protecção Recíproca de Investimento (APPRI), António Henriques da Silva referiu que o investimento externo tem vantagens para o país receptor, mas também pode ter desvantagens, caso o país receptor não consiga estabelecer ...Translate

Source: Angop Angola Press Agency (06 Aug 2020 )  Share

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Angola:  Credit Support Programme Grants About 60 Billion Kwanzas

Luanda — As part of the Programme to Support Production, Diversification of Exports and Import Substitution (Prodesi), around sixty billion kwanzas have already been made available to various entrepreneurs through the PAC (Credit Support Programme), the Secretary of State for Planning, Milton Reis, said Wednesday in Luanda. According to the government official, who ...

Source: Angola Press Agency (06 Aug 2020 )  Share

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Angola:  Angola Complies With IMF Agreement

Luanda — With an economy strongly affected by the 2014 economic crisis, which generated macro-economic imbalances and revenue shortfalls, Angola requested on 1 August the IMF the resumption of discussions to implement technical assistance. The request, made under the Extended Fund Facility (EFF), resulted in the approval by the IMF on 7 December 2018 of a ...

Source: Angola Press Agency (04 Aug 2020 )  Share

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Angola:  Transport Ministry Launches Inquiry Into Imported Car Parts

Luanda — Angola's Ministry of Transport said it is conducting a popular inquiry on how the vehicle owners get the spare parts, aimed at improving the activity in Angola. The online investigation was launched last week and targets the import activity, such as trade, technical assistance for road equipments, states the minister in its document reached Angop Monday. ...

Source: Angola Press Agency (04 Aug 2020 )  Share

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Angola: Privatização dos aeroportos angolanos será liderada pela SGA

A Sociedade Gestora de Aeroportos (SGA) angolana vai gerir o processo de privatização da concessionária do sistema aeroportuário, cuja venda deverá ser feita a "investidores privados, preferencialmente operadores internacionais de aeroportos com experiência consolidada". O modelo de privatização de alienação de uma participação maioritária na ...Translate

Source: Angola24Horas (04 Aug 2020 )  Share

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Botswana: SEZA signs key agreements to cement mandate

The Special Economic Zones Authority (SEZA) has signed strategic agreements with key organisations in a bid to push its mandate of boosting economic development by positioning Botswana as a premier investment destination and improving the country’s ease of doing business. SEZA Chief Executive Officer (CEO) Lonely Mogara said in an interview last week ...

Source: The Voice (08 Aug 2020 )  Share

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Malawi:  Newly Launch Kaios Phones to Bridge the Communication Gap

Lilongwe — Integrated mobile network and ICT services provider TNM Plc, has partnered with KaiOS Technologies to launch the most affordable 4G KaiOS-enabled smart feature phone in Malawi. Priced at MK 24,999 (USD 33.9[1] ), the TNM Smart 4G will come with a value of MK28,000 USD 38[2] ), worth of bonuses comprising 500 MBs, 150 SMSs and free Caller Tune every month ...

Source: Malawi News Agency (06 Aug 2020 )  Share

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Malawi: Malawi should cancel some mining licences – Chilima

Malawi government is taking reforms to mining sector and control the trade in minerals with Vice-President Saulos Chilima holiding orientation meeting with with Minister of Mining Rashid Gaffar and officials from his ministry. Gaffar said the ministry is working major reforms to ensure that there are increased benefits to Malawians from mineral resources through review ...

Source: Nyasa Times (05 Aug 2020 )  Share

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Mauritius, Japan:  Covid-19 - Japan Grants 300 Million Japanese Yen to Mauritius

The Government of Japan has agreed to provide a grant of 300 million Japanese Yen to Mauritius, under the Japan's Grant Aid "Economic and Social Development Programme", for the procurement of medical equipment to mitigate the impact of the Covid-19 pandemic and consolidate the health system of Mauritius. To this effect, a Grant Agreement was signed, yesterday, ...

Source: Government of Mauritius (06 Aug 2020 )  Share

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Mozambique:  Afreximbank Commits U.S.$400 Million To LNG Project

The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, is supporting the advancement of Mozambique’s energy industry and economy by committing up to US$400 million in guarantees and direct lending to the Area 1 LNG Project. The total Project is estimated to cost about US$24 billion and  is set to be the ...

Source: African Export-Import Bank (06 Aug 2020 )  Share

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Mozambique, UK: Mozambique: Ncondezi submits transmission integration study – Watch

The London-based company Ncondezi Energy has announced the submission of its Transmission Integration Study to Mozambique’s publicly owned electricity utility, EDM. \nNcondezi plans a coal mine and a 300 megawatt coal-fired power station in the western province of Tete. The study assesses options for connecting Ncondezi’s power station to EDM’s national grid. \nCited in ...

Source: Club of Mozambique (05 Aug 2020 )  Share

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Namibia: Gold mine invests in conservation

Canadian gold miner B2Gold has launched a great initiative in support of conservation in Namibia. The company, that operates the Otjikoto mine in north central Namibia, introduced the Namibian Rhino Gold Bar campaign in North America. The campaign was launched to help with the conservation and protection of the critically endangered black rhinos, and the community-based ...

Source: Why Africa (07 Aug 2020 )  Share

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Namibia:  Namibian Market 'Not Too Small'

The statement that the Namibian market is too small for local production to thrive is not true - especially not for the agricultural sector in which most of what is consumed is imported. Rather, it is the cost of production in the sector that may have kept many entrepreneurs and investors at bay and if so, incentives should be introduced. These are some of the points ...

Source: The Namibian (06 Aug 2020 )  Share

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Namibia:  The Gridonline Signs Up MTN Namibia

MTN Namibia and The GridOnline have taken the Namibian ICT sector a stride forward, as the parties signed their first commercial contract for bulk data transmission services. The GridOnline is a service offering by NamPower. This significant event demonstrates another example of corporates consolidating efforts to propel the national and Southern African ICT sector ...

Source: New Era (05 Aug 2020 )  Share

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Namibia:  Chinese Purchase of Ohorongo Blocked By Competition Commission

The Namibia Competition Commission (NaCC) has blocked the acquisition of Schwenk Namibia (Pty) Ltd, which owns and operates the Ohorongo Cement factory, by West China Cement Limited for N$1.5 billion since it would result in coordination between Ohorongo Cement and Whale Rock Cement, which trades as Cheetah Cement. The proposed acquisition was deemed uncompetitive by the ...

Source: New Era (05 Aug 2020 )  Share

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South Africa: SA e-health startup Guidepost raises further funding to help it scale

South African diabetes health and insurtech startup Guidepost has raised an undisclosed amount of further funding to help it increase its impact. A technology platform that enables highly personalised, data-driven diabetes management at scale, Guidepost allows patients to better manage their illness, and during its six years of operation has achieved a 45 per cent ...

Source: Disrupt Africa (07 Aug 2020 )  Share

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South Africa: Schroders launches offshore fund in South Africa

Given South Africa's low-growth economic environment, this fund seeks to deliver long-term capital growth over five to seven years by investing in a ...

Source: International Investment (07 Aug 2020 )  Share

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South Africa: SAB scraps investment plan over costly South Africa alcohol ban

South African Breweries (SAB) on Monday said it was canceling plans to invest up to 5 billion rand ($290 million) in the upgrading of operating facilities and systems, as well as the installation of new... The post SAB scraps investment plan over costly South Africa alcohol ban appeared first on Ventures Africa .

Source: Ventures Africa (06 Aug 2020 )  Share

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South Africa: Sygnia launches health innovation fund

'Investors in South Africa don't have a lot of opportunity to invest in this sector, and the pandemic has accelerated the need for this kind of investing.'.

Source: Moneyweb (06 Aug 2020 )  Share

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South Africa: INTERVIEW: ITC Infotech Set to Invest in South Africa

What kind of investment is ITC Infotech making in South Africa with the launch of the delivery centre? We are witnessing a huge uptick for specialized ...

Source: IT News Africa (05 Aug 2020 )  Share

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Zambia: COVID-19 must not derail my Government’s development agenda, President Lungu tells Provincial Ministers

President Edgar Lungu yesterday received regional cluster reports from provincial ministers and directed them not to relent as they strive to improve the welfare of the people. Addressing the ministers, the President did not mince words about his desire to see development in all regions of the country. President Lungu said COVID-19 must not derail his Government’s ...

Source: Lusaka Times (07 Aug 2020 )  Share

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Zimbabwe, UK:  Britain Backs Zimbabwe's Pandemic Efforts

Britain is willing to work with Zimbabwe in fighting Covid-19, especially over health workers and personal protective equipment, UK Ambassador to Zimbabwe Melanie Robinson has said. Tweeting yesterday she said, "We stand ready to work with the new team to address key issues related to the health worker crisis and PPE shortages." The new team refers to the appointments ...

Source: The Herald (07 Aug 2020 )  Share

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Zimbabwe: Illicit financial flows: Zim loses US$32bn

ZIMBABWE has lost in excess of US$32,179 billion through illicit financial flows (IFFs) in the last two decades, posing a major challenge to development financing for the whole of the southern African region. Melody Chikono A policy brief on IFFs in Africa by Africa Growth Initiative shows that 13,9% of total trade during that period was lost this way. ...

Source: Zimbabwe Independent (07 Aug 2020 )  Share

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Women & Youth

Africa: 12 African tech startups selected for The Future is Female Programme

Twelve startups have been selected for The Future is Female, a PR and communications mentorship programme dedicated to the business development needs of African tech female founders. The Future is Female was launched by C. Moore Media last month to provide the underserved market of African female founders of early-stage startups with the PR and communications insights, ...

Source: Disrupt Africa (06 Aug 2020 )  Share

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Nigeria:  'Women Gain Economic Benefits From Greater Trade'

Trade increases women's wages and helps close the wage gap between men and women while creating better jobs for women, a new World Bank Group report has stated. It stated that countries that are open to international trade tend to grow faster, innovate, improve productivity, and provide higher income and more opportunities to their people. Countries that are more open to ...

Source: This Day (06 Aug 2020 )  Share

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South Africa: Standard Bank is supporting SA’s youth through #ItCanBe campaign

Standard Bank, as part of the #ItCanBe campaign, is motivating South Africa’s youth to consider their dreams, where they want to be and to push through their hustles, because “with the right level of support, we believe that no matter how big or small your dream is – it can be”. This is according to Lindy-Lou Alexander, who explains that Standard Bank has ...

Source: IOL Independent (07 Aug 2020 )  Share

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Tanzania:  Oxfam Reiterates Support to Women Farmers

OXFAM Tanzania has expressed its commitment to support local farmers, especially women in its quest to help end hunger and poverty in the country. The international organization issued its commitment as the country marks farmers' day, famously known as Nanenane exhibitions to especially recognize the contribution of smallholder farmers. According to Oxfam, agriculture ...

Source: Tanzania Daily News (07 Aug 2020 )  Share

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