Tag Archives | Ethiopia
Africa Brief: Top gold deposits possible at Congo project, Vodacom office opened in Ethiopia, and more…
Billionaire Dan Gertler’s Moku-Beverendi gold project in northeastern Democratic Republic of Congo may contain as much as 5-million ounces of the metal, his Fleurette Group said. Kibali may eventually produce 550,000oz a year, according to Randgold’s website.
At KPMG, in the context of renewable energy and climate change technology, we offer the core services of programme and fund management, Promoting public sector and civil society innovation for sustainable development, and Engaging the private sector in Renewable Energy and Adaptation to Climate Technology (REACT) impact activities.
Africa Brief: Fewer dollars as Angolan oil firms pay some suppliers in kwanzas, Food retailers’ premium drops to three-year low and more…
A foreign exchange law in Angola has halved the value of dollars auctioned by the central bank since June as the country considers letting its currency trade on international markets.
Sierra Leone exported $102 million (R1bn) worth of diamonds in the first half of 2013, up from $71m in the same period from 2012. The government collected $5.1m in taxes in line with the 5 percent export levy.
Ethiopia is one of the most promising regions in Africa for retail development over the next two decades, in our opinion. Ethiopia’s promise can be attributed to the combination of its large population size and good prospects for economic growth.
Africa Brief: ‘Good gains’ in Botswana property investment, Zimbabwe economic activity, growth in Africa and more
In this Africa Brief: Direct investment property in Botswana produced total returns of 17.9% last year, beating returns on South African fixed investment property, which delivered a 15.2% total return last year. Economic experts and business executives in Zimbabwe are expecting a further slowdown in economic activity in Zimbabwe after weekend election results…
Africa Brief: Call for power grid investors, Egypt gets boost in Saudi Funding, Ethiopian dam raises concern, and more
Sierra Leone was seeking $3.5 billion (R34.5bn) of investment from the private sector to overhaul its creaking electricity industry with the aim of increasing output tenfold by 2017, Deputy Energy Minister Martin Bash-Kamara said at the weekend. Sierra Leone has one of Africa’s lowest power generation capacities, at just 100 megawatts for its 5.6 million people. Bash-Kamara said the government had signed memorandums of understanding with investors to develop power projects in the mineral-rich country
Angola has delayed plans for the start of stock-exchange trading by a year to 2016, with a futures and commodities market in Africa’s second-biggest oil producer set to open a year later. Angola expects its stock exchange to have a market value of 10% of gross domestic product within 18 months of its startup, he said. Angola’s largest banks, which include Banco Angolano de Investimentos and Banco de Poupanca e Credito, as well as cellphone companies Unitel and Movicel Telecomunicacoes, are expected to list on the exchange.
One sector of Swaziland’s otherwise declining economy -the construction industry -intends to localise construction jobs through new legislation that blocks South African construction firms from doing business in the country without a Swazi partner. The House of Assembly is considering the Construction Industry Council Bill, which forbids exclusive tendering of government projects to foreign firms. It also stipulates that jobs in the private sector cannot be given solely to non-local construction companies.
Kenya may face a “spike” in petrol costs and a shortage next month because of a dispute between fuel retailers and the country’s only refinery, the head of a leading fuel and oil retailer, Vivo Energy Kenya, has warned. Ten fuel-marketing companies have refused to adhere to a rule that they purchase 40% of their fuel needs from the 50-year-old refinery, the Oil Industry Supply Co-ordination Committee said in a letter sent to Kenya Petroleum Refineries Limited (KPRL).
Illovo Sugar reported a 43% rise in headline earnings per share to 189.6c for the year ended March. Illovo delivered a record production of sugar cane from its own farms of 6.5-million tons, while independent fanners also did well. Between Illovo’s own farms and independent farmers, nearly 15-million tons of cane was crushed. And they’ve produced 14% more sugar from that cane than the year before with sugar production of 1.75-million tons.
Nigeria’s foreign currency reserves would probably keep expanding while facing risks from lower-than-projected oil output and falling prices. Oil production in Africa’s biggest producer fell to 1.81 million barrels a day in March, the lowest level since September 2009.
It is projected that by 2016, over 500 million Africans will live in urban centres, and the number of cities with more than 1 million people is expected to reach 65, compared to 52 in 2011. This is already on par with Europe and higher than India and North America. With 40 percent of its population living in cities, Africa is more urbanized than India (30 percent) and nearly as urbanized as China (45 percent).
The World Bank’s Vice President, Makhtar Diop, has called for faster progress in areas such as electricity and food in the vulnerable areas of The Sahel and the Horn of Africa, and says that significantly more energy and agricultural productivity are needed to raise the quality of life …
The IMF’s World Economic Outlook 2013 and the World Bank’s latest “Africa’s Pulse” (a twice-yearly analysis of the issues shaping Africa’s economic prospects) provide the following insights on African economic performance and the outlook for 2014 …
Founded on the principle that agriculture is central to sustainable development, the New Vision for Agriculture was launched in 2011 as a benchmark for agricultural transformation in developing countries worldwide …
Africa’s rate of urbanisation and the development of cities has been slow, but the rise of emerging African cities has coincided with the continent’s growth and rejuvenation …
While many regions around the world are now experiencing slow or stagnant economic growth, Africa stands out as a land of significant untapped opportunity. The continent boasts the highest levels of resource reserves in the world, Gross Domestic Product (GDP) is growing at around 5 percent per year and populations are set to double by 2050.
South Africa, Nigeria and Ghana have over the years been the largest recipients of Foreign Direct Investments (FDI) within the African continent as they jointly accounted for about 50% of the FDI inflow into Africa in 2011.
In the second half of 2012, South Africa experienced a sharp decline of 43.6% in FDI compared to the same period in 2011. Despite the sharp decline in the FDI inflow to South Africa, total FDI to Africa increased by 5% indicating increasing flow of FDIs to the other African countries.
With a population of close to 82-million, Ethiopia is the second most populous country in sub-Saharan Africa and the most populous land-locked country in the world.
Its capital, Addis Ababa, serves as the headquarters for both the African Union and the United Nations Economic Commission for Africa.
Ethiopia has faced numerous hardships throughout its history. The country has experienced periodic droughts and famines that led to a long civil conflict with Eritrea. Ethiopia is one of Africa’s poorest states with almost two thirds of its people illiterate.
The country is, however, regarded as one of the fastest growing non-oil economies in Africa and is expected to be one of the world’s fastest growing economies by 2012.
This is a summary of the African countries which, in our opinion, are notable for some aspect of their healthcare systems, whether it be rapid uptake of health insurance, high levels of total expenditure or innovative governance in the public sector…
Botswana: A relatively wealthy country, Botswana is one of the four countries in Africa which complied with the Abuja commitment in 2010 by spending more than 15% of its budget on health. Botswana is also notable for the health profile of its private healthcare spending: only 30% of private health expenditure was out-of-pocket, which is good news for health outcomes although the high HIV prevalence rate still holds life expectancy down.
KPMG names six African infrastructure projects among the 100 most innovative global infrastructure projects that make cities liveable and sustainable …
This week we travel to to the horn of Africa for a closer look at the investment opportunities and challenges in the East African nation of Ethiopia. With a population of close to 82-million, Ethiopia is the second most populous country in sub-Saharan Africa and the most populous land-locked country in the world.
Its capital, Addis Ababa, serves as the headquarters for both the African Union and the United Nations Economic Commission for Africa. Ethiopia has faced numerous hardships throughout its history.