Tag Archives | foreign investment
Coal / Grindrod and Mozambique’s Maputo Port Development Company (MPDC) plan to invest $1.7bn over the next five years to upgrade ports in the country as demand grows, MPDC said on Friday. Capacity would be tripled at the Maputo and Matola ports to 50-million tons by 2020 from 15-million tons. Investment of $355m this year and next year had been approved to boost capacity at the Matola port terminal. The coal terminal will be handling 7.2-million tons by next year, from 6-million tons.
African investors were “quite nervous” about the appetite for African investment from SA, despite the JSE dwarfing most African exchanges, JSE CEO Nicky Newton-King said at the Association for Savings and Investment SA (Asisa) conference in Durban.
African infrastructure development faces a key challenge in attracting private sector and foreign direct investment. Fortunately, catalyst projects can encourage investment in infrastructure development and thereby stimulate growth. This is on condition African nations address the need for bankable projects and the successful financial closure of projects.
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.
Zimbabwe’s Delta sees lager, premium beer sales rise – Delta Corporation partly owned by SABMiller has been projected to raise its 2013 annual profit by 31%, although the trading update shows the Chibuku sales volumes declined by 10% …