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Delta International Property Holdings, the first JSE listed property fund offering investors direct access to high growth markets in Africa, is targeting properties in Ghana and Nigeria, with an acquisition pipeline of $200m having been identified.
Plans to build a platinum refinery in Zimbabwe have been boosted after mining companies met the deadline for submission of construction and development proposals set by the Zimbabwean government.
Africa Brief: Angola first daughter to enter grocery retail, Clover to milk opportunities in the rest of Africa and more …
Portugal’s biggest retailer Sonae plans to open five food hypermarkets in Angola, in partnership with Isabel dos Santos, the daughter of the country’s president, with the first scheduled for 2015, a company board member said last Thursday.
Nigeria is known for it’s vast natural wealth, with majority of the country’s foreign exchange income and government revenue stemming from oil. With the recent announcement that Africa’s wealthiest man, Aliko Dangote, has signed a deal to finance the building of Africa’s largest oil refinery in Nigeria, all eyes are on the region’s mining sector.
Africa’s economies have been expanding robustly as new discoveries of coal, oil and gas look set to create substantial business opportunities and transform the continent’s economies. The continent not only is a major producer of diamonds, nickel and uranium, but also holds 40% of the world’s gold, 60% of cobalt and 90% of its platinum reserves. Africa’s growth, however, results from more than a resource boom, having been supported (amongst other factors) by external trends such as its’ increased access to international capital and ability to forge economic partnerships with foreign investors.
Mozambique is viewed to be one of the African countries that will be most able to boost its share of foreign direct investment inflows to the continent over the medium-to long-term. Apart from the large-scale expansion of coal production, natural gas exploration activities and plans to build LNG plants have helped to boost foreign investment.
The future of mining in Africa depends on the short to medium-term outlook of all commodity prices and government tax reform initiatives. These factors will determine whether gold and coal miners succeed in countries like Ghana and Mozambique, and can seriously affect the future growth of the industry.
Sustainable energy products and services have the potential to improve the lives and productivity of millions of rural households and businesses across sub-Saharan Africa that have no energy access. Private investment will be necessary to develop this market …
After almost two decades of civil war, Mozambique is rapidly emerging as one of the fastest growing economies in Africa. Economic growth is expected to average around 8 percent over the next few years, inflation is slowing from 8 percent in 2012 to an estimated 6 percent by 2016, and current account deficits are declining as a proportion of gross domestic product (GDP) to around 4.8 percent by 2016.
The West African nations of Burkina Faso and Niger expressed satisfaction yesterday after the International Court of Justice set-tied a border dispute that dated back to French colonial times. In a highly technical ruling, the International Court of Justice in The Hague demarcated the territory of the two countries in an area that stretched for about 380km, more than half the length of their border.
Africa Brief: political difficulties of investment in Africa, Sasol, infrastructure issues hinder coal project, and more
FirstRand is proving that acquisitions in Africa can give one a serious headache. The bank was thoroughly wrong-footed by political currents in Zambia where it thought it had acquired Finance Bank, only to have the deal jettisoned by Michael Sata’s new government in 2011. In Ghana, FirstRand has almost bought out Merchant Bank, a once-successful corporate bank that got itself into a serious mess of bad debt involving large, politically-connected entities. The Supreme Court of Appeal (SCA) two weeks ago delivered a resounding victory for Netl UEPS, the company awarded the tender to distribute all 15-million social grants made every month around the country.
Nigeria is the most populous country on the African continent with approximately 150-million people and is the 32nd largest country with the 41st largest economy in the world.
According to the World Bank, Nigeria is classified as a mixed economy, emerging market. Nigeria has reached middle income status, with well developed financial, legal and transport sectors. Nigeria boasts the second largest Stock Exchange in Africa and enjoys an annual economic growth of 7%.
Germany and Zimbabwe will be co-hosting the United Nations World Tourism Organisation’s general assembly in August. Germany is concerned regarding Zimbabwe’s ability to do this as there is continued invasion of protected wildlife conservancies by Zanu (PF).
Exxon Mobil, US energy producer intends to search for crude and natural gas in South Africa. Dave van der Spuy (resource evaluation manager at Petroleum SA) believes the level of activity and interest in SA is at its highest. With SA being the continent’s biggest oil importer, international energy companies with new technologies are entering SA. Mozambique is another energy province, with the largest gas finds.
The global mining industry has seen an increase in the number of mergers and acquisitions (M&A) recently – driven by demand fundamentals that remain sound across the globe. Deal value during the first quarter of 2012 was dominated by the long-anticipated US$53B Glencore-Xstrata merger proposal, which if successful, would represent the largest mining transaction in history. According to KPMG’s recently published Mining M&A Quarterly Report First Quarter 2012, more than 81 mining transactions were announced during the first quarter of 2012, compared to a fewer than 50 during the previous quarter, representing an increase of 75% in volume-a strong rise even without the Glencore-Xstrata announcement.