Category Archives: Africa

Top Finance News Africa 2017

Below is the latest Africa Finance news aggregated from top  business and news portals  for 2017.

http://www.africanbusinesscentral.com/

Kenyan President Uhuru Kenyatta recently laid the foundation stone for what will be the tallest building in Africa in the Upper Hill neighborhood of Nairobi. Construction is underway at the development site, and slated for completion by December 2019.

The ambitious project will see twin glass-facade towers rise above the city, the larger standing at 300 meters tall, far surpassing the continent’s current leader — Johannesburg’s 223-meter Carlton Centre.

Work begins on the tallest skyscraper in Africa

Home

This year’s G20, led by Germany’s Chancellor Angela Merkel, should be commended for prioritising African development.

Africa is home to all ten countries with the highest fertility rates in the world and this population boom will further strain governments already struggling to meet the needs of their people.

An estimated 22.5 million jobs per year will need to be created to meet the demand of this African youth explosion, a demographic with the same energy, dynamism and ambitions as their peers in developed nations.

They can show their commitment to a true partnership with Africa by delivering game-changing EU anti-money laundering regulations that prevent the criminal and corrupt from hiding behind anonymity and stealing Africa’s future from its people. Because failure to do so could undermine all their other efforts to help Africa prosper.

Op-ed: Nigeria’s Acting President Yemi Osinbajo to G20: It’s time to move beyond pledges to back Africa’s future

 

 

https://www.bloomberg.com

South Africa’s ruling party has proposed that the central bank should be wholly state-owned rather than an institution with private shareholders.

The move opens a second front challenging the central bank’s established status just two weeks after Public Protector Busisiwe Mkhwebane attempted to instigate a change in its mandate. She instructed Parliament to amend the constitution to make the Reserve Bank focus on the “socioeconomic well-being of the citizens” rather than inflation, prompting a drop in the rand as investors viewed her action as a threat to its independence.

 

https://www.bloomberg.com/news/articles/2017-07-05/south-africa-s-anc-said-to-propose-central-bank-be-state-owned-j4qwo8ka

 

Japanese investment in Africa

Japan  to increase investment in africa

According to various reputable forecasters, the African economy is expected to grow by more than five percent during 2012/13, while its total Gross Domestic Product (GDP) is expected to reach US$2.6 trillion by the year 2020.

Japan is keen to invest “billions of dollars” in minerals and infrastructure in Africa, trying to catch up to regional rivalChina for influence on the continent, a Japanese trade officials have commented.

japanese investmetn in africa

Japanese trading firms such as Mitsui & Co, Mitsubishi Corp and Itochu Corp have been in Africa for years.

Japan is currently among  the top 5 as South Africa’s trading partner, with two-way trade of nearly R90-billion recorded in 2011. The balance is also in South Africa’s favour, with exports to Japan in 2011 having been R55.6-billion as against imports of R34.3-billion.

Japan is already participating in a uranium project in Namibia and manganese and platinum projects in South Africa. (Editing by Jon Herskovitz and Keiron Henderson)

Zimbabwe polls In south africa

Zimbabwe’s new constitution was supported by the countries’ two main political parties who have been in a power-sharing government since 2009 and approved by an overwhelming majority in Saturday’s referendum as reported by electoral commission

Qatar Motor Show 2011 Pictures

It is said Zanu-PF’s 89-year-old leader, President Robert Mugabe, will be able to stand again in elections expected in July. Official results show 3,079,966 voted "Yes", 179,489 voted "No", with 56,627 recorded spoilt ballots.

 

In other news

Raila Odinga files Kenya election appeal – Kenyan Prime Minister Raila Odinga has filed a Supreme Court appeal against Uhuru Kenyatta’s narrow victory in the presidential election’s first round  .. read more

Chinese-built ghost town in Angola ( whos profiting)?

One group of workers are paid to pump oil, which is offshored to China. In exchange, a group of Chinese workers is paid to build a gate-guarded enclave for a non-existent pool of mega-rich locals that no one can afford to live in..read more

Conference – African Mining Indaba 2013

Investing in “African Mining Indaba” is the world’s largest mining investment conference in the African continent and the largest mining event in Africa. The annual Investing in African Mining Indaba is organised by Mining Indaba LLC which has been held for more than 18 years now.

mining indaba conference 2013 africa

INDABA is one of the largest tourism marketing events on the African calendar and one of the top three ‘must visit’ events of its kind on the global calendar. More than half of the delegates attending the event come from Africa, while 18% are from Europe, 12% from Australia, and 8% from North America.

Conference Event details  – African Mining Indaba 2013

19TH ANNUAL INVESTING IN AFRICAN MINING INDABA
4-7 February 2013
Cape Town, South Africa

Conference Registration

Conference registration will open on Saturday, 2 February at 12:00. See full registration schedule

Exhibition Hall

Exhibition Hall will open on Monday 3 February at 17:30. See full conference activities schedule

Indaba  Africa conference 2012 – 7000  + mining professionals and investors from all continents of the world attended. Indaba Africa conference 2013  -  2013  conference to welcome 7000 + delegates in 2013.

Keynote speakers

Mining Conference Keynote Speakers

GENERAL SHOW ENQUIRIES ONLY
If you have a general show enquiry, please send it to info@minngindaba.com or call +1.859-746-5700 (hours of operation: Monday through Friday, 08:00-17:00 (UTC-GMT-5 hours)

 

About cape town south Africa

Cape Town

Cape Town is the second-most populous city in South Africa after Johannesburg, and the provincial capital and primate city of the Western Cape. As the seat of the National Parliament, it is also the legislative capital of the country. Wikipedia

Population: 3,497,097 (2007)

Area: 2,455 km²

Weather: 24°C, Wind S at 42 km/h, 47% Humidity

Local time: Monday 1:37 pm

Points of interest

Table Mountain image courtesy – http://worldislandparadise.com

Cape of Good Hope – Imgae couyrtesy – travel.nationalgeographic.com

Victoria & Alfred Waterfront img courtesy – www.kapstadt-entdecken.de

Kenya sets new law of 35 % local ownership for new mining projects

Prof Muigai’s verdict is good news to Australian mining company Base Titanium, widely regarded to have been the target of a small cabal of top government officials who have been pushing for the 35 per cent local equity participation rule. Base Resources, the Australian firm mining titanium in Kenya’s Coast, has valued 35 per cent of its local operations at $150 million (Ksh12.8 billion).

kenya mining and oil n gas laws policy emblem

Who is – Githu Muigai – from Wikipedia, the free encyclopedia

Githu Muigai (born 1960) is the Attorney General of The Republic of Kenya. He holds a bachelor’s Degree in Law degree from the University of Nairobi, a masters degree in International Law from Columbia University School of Law. Prior to becoming Attorney General Githu Muigai has served in the defunct Constitution of Kenya Review Commission and at the United Nations as Special Rapporteur on contemporary forms of racism, racial discrimination, xenophobia and related intolerance.

Prof. Githu Muigai

Prof. Githu Muigai from  http://www.softkenya.com

A gazette notice issued in September by Environment Minister Chirau Ali Mwakwere directed that mining companies cede 35 ownership to local investors. Mining firms and overseas companies have been given a grace period of between three and five years to comply.

New laws at a glance

  • The regulations were welcomed  by locals  who saw this as a way to  benefit from the mining  profits generated by the foreign mining companies , who see it as arm twisting to share their profits.
  • Mining activity has picked up in Kenya recently, however the majority of companies are still at the initial stages, having been issued only with prospective licences.
  • Prof Muigai has clarified that only licences issued after the gazette notice, will b e affected by the 35 per cent local equity participation requirement.

Referred to as the “Mwakwere rules” and introduced by Environment Minister Ali Mwakwere. The one problem that this  new law  will bring about for foreign companies is , will the locals but into their shares or have the money to buy into their shares  thus giving them the 35 % for approval.

Who is  – CHIRAU MWAKWERE

Amb. Chirau Ali Mwakwere – Kenyan Minister of Environment

Chirau Mwakwere

From : http://www.whoswho.co.ke/chirau-mwakwere

Amb. Chirau Ali Mwakwere is the Kenyan Minister of Environment. He previously served as the Kenyan Minister of Transport

In comparison , Botswana with one of the most established mining sectors — and reputed to have the most liberal mining codes — the threshold for local shareholding of mining companies is 13 per cent.

Oil and gas exploration in kenya

The oil and gas industry is also going through change , with the  Ministry of Energy hopes to introduce the regulations under the reviewed Petroleum Exploration and Production Act by mid 2013. For oil and gas exploration, Acreage will now be awarded to the highest bidder who offers the best terms to the government and agrees to pay requisite fees. This exercise will be carried out publicly, replacing the current system where exploration rights are issued on a first-come first-serve basis.

By introducing competitive bidding, Kenya will join the ranks of countries like Tanzania that already have the system. Uganda plans to have a bidding process as well.

Madagascar government And development

The Madagascar government is set on strengthening
the economy through its bold 2007-12 Madagascar
Action Plan (MAP), which aims to continue structural
reforms, diversify levers for growth and achieve the
Millennium Development Goals (MDGs)

madagascar africa  and investment

The World Bank Board of Executive Directors today approved an International Development Association (IDA) credit* of US$8 million to support the Government of Madagascar’s Mineral Resources Governance Project (PGRM).

African countries have much to gain by diversifying exports and by further opening up regional trade. Despite improving over recent decades, Africa’s share in world trade remains low, it is heavily concentrated in natural resources, and intra-African trade is particularly limited. Regional integration can also help African countries become more competitive and resilient to external shocks.

The African Development Bank Group, UNICEF and the Government of Madagascar signed a US $1-million grant agreement to fund rehabilitation of social infrastructure in the country following the devastating cyclones Giovanna and Irina, which hit the country in February. The signing took place on August 23 in Brickaville, about 250 km east of Antananarivo.

GDP grew substantially in 2007 (6.3 per cent)
after thefairly modest advance of 2006.This was largely
due to the start of construction for two large mining
projects (ilmenite and nickel/cobalt), public
infrastructure investment and good secondary sector
performance. Foreign private investment in mining
accounted for much of the 26.6 per cent rise in gross
investment

The Board of Directors of the African Development Fund (ADF) approved today a loan of 6.52 million Units of Account (UA)* – approximately US $ 8.46 million to finance the Bank participation in the financing of the cyclones Eline, Gloria and Hudah damage repairs project in Madagascar

“Madagascar had already registered a number of critical successes like the Mining Cadastre service which is considered currently the best in Africa and the increasing formalization of artisanal and small-scale mining “ says Robert Blake, Country manager for Madagascar

Madagascar stated its intention to join the Extractive Industries Transparency Initiative (EITI) in October 2006 in Oslo, Norway.

Cape Town – AfricaCom 2012 Summit

What is AfricaCom Summit 2012

Its the largest event for the digital industry in Africa, which  brings together over 7,000 delegates, key executives, industry leaders, and organizations from the media, ICT, and telecom sectors to discuss and promote business in Africa in the changing digital landscape.

The AfricaCom exhibition features 250 of the world’s leading technology and solutions providers

httpafrica.comworldseries.com

What is happening  at Africacom 2012 event

Showcase of merging technologies and applications

Panel discussions and forums

Technology workshops

Provide a  platform for networking and business opportunities.

Program guide  africacom 2012

Day 1

The brand new 3 day Africa Com has a host of additional programme features delivered by a 200+ strong speaker faculty.

DAY 2 PROGRAM DETAILS

DAY 3 PROGRAM DETAILS

Event – Africa Down Under conference

The Africa Down Under conference is to be held at Pan Pacific Perth (formerly Sheraton Hotel) and Novotel Perth Langley, on 29 August – 31 August 2012. Apart from the regular  presenting companies and future project launches, the event will be attended by several African Mines Ministers, business leaders and executives from the mining services industries

http://www.africadownunderconference.com/

Africa mining conference 2012 in AUSTRALIA

west africa

IN 2011 the conference attracted more than 2000 delegates, 166 exhibitors and a full three day programme of top-notch speakers. The conference will give the opportunity to research joint ventures with juniors and grub-staking is taking place from Ghana in the north-west, to Kenya in the east and down south in the all-powerful triad of South Africa, Botswana and Namibia.

Africa Down Under - 29th August to 31st August 2012

The Africa down under conference will attract

  1. Mining Executives
  2. Financiers/bankers/brokers/analysts
  3. Government Officials and representatives
  4. Investors
  5. International and local media
  6. Mining service industry
  7. Suppliers
  8. Mining Consultants

YOUU CAN FIND THE CONFERENCE PROGRAM HERE – http://www.africadownunderconference.com/conference-programme/ , http://www.africadownunderconference.com/exhibitor-list/

About 220 Australian mining and oil companies have 595 projects operating in 42 African countries. Committed and planned investment by Australian companies in African resources projects is more than $50 billion, according to the Department of Foreign Affairs and Trade

The Africa Down Under conference has broken records again tin 2011, with 2,000 delegates and 11 African resources ministers attending

Related links

Australian Miners Are Moving on the Next Frontier

AAMIG – Australian and Australian-based mining and service industry

International Mining for Development Centre –  In partnership with the Australian Government, The University of Western Australia and The University of Queensland have established the International Mining for Development Centre . They assist in lifting the quality of life in developing nations through a more sustainable use of mineral and energy resources.

Mining for Development in Africa – http://ausaid.gov.au/countries/ame/Pages/mining.aspx

 

The africa future Business boom

In Africa , Djibouti is growing fast  and has launched massive construction and development projects. It is said to become the new business and trade hub of the Horn of Africa region. Business in Africa is growing at a rapid pace

Rapidly growing buildings with modern building complexes and futuristic office buildings  are adorning the landscape in Djibouti. The Africa business landscape ifs definitely moving fast and quick which will be soon competing with Canada and Australia

Africa Future of business

africa business story future boom

Australia and Africa are vast continents of climatic extremes, from deserts to tropical rainforests. Africa has a wealth of natural resources. Africa  has 60 per cent of the world’s uncultivated, arable land and it has 12 per cent of the world’s petroleum and 30 per cent of the planet’s known mineral reserves. Africa is either first or second by share for known reserves of platinum, diamonds, cobalt, gold and bauxite.

Investment into Africa is now booming.

The lack of basic infrastructure is the biggest impediment to economic development in Africa. The lack of suitable buildings, transport links and power and water supplies in most parts of the continent makes it virtually impossible for the emergence of modern economies.

Us investing in Africa business

Wall Street-listed companies are investing more on the continent with each passing week.

Diageo (DEO:US)

(P/E Ratio: 22.8; P/B Ratio: 7.4; Dividend Yield: 2.1%)

GE (GE:US)

(P/E Ratio: 16.2; P/B Ratio: 1.8; Dividend Yield: 3.4%)

Moneygram (MGI:US)
Sanofi (SNY:US)

(P/E Ratio: 13.5; P/B Ratio: 1.4; Dividend Yield: 4.5%)

Few corporations have a longer history in Africa than Siemens. It first got down to business on the continent in 1857. In 2010, its South African sales totaled $767 million. Nigerian revenue came in at $124 million.