Tag Archives | power plant
South African banks and construction companies have been expanding activities in the rest of Africa, where energy is one of the fastest-growing sectors. The $900m of debt and equity project finance for the Kpone Independent Power Plant and associated infrastructure in Ghana was closed by financiers and industrialists, including several South African banks.
Africa Brief: Edgar’s and Jet set to open in Ghana, Pirates threaten Gulf of Guinea’s oil trade and more…
Edcon, the owner of Edgars and Jet, has announced that they will be opening new stores in Ghana and Nigeria in the next year. The region has caught the eye of retailers in search of higher yields and untapped consumer spending potential.
Africa Brief: Violence in Egypt knocks markets, Ghana’s consumer price inflation, oil thieves in Nigeria and more
Egyptian shares have slumped after police moved to disperse two anti- government sit-ins in Cairo, leaving at least 13 dead. The benchmark EGX 30 index retreated 1.1 percent to 5585.12 at 11.11am in Cairo. The death toll reported by the Health Ministry was disputed by the Muslim Brotherhood, which claims hundreds were killed by security forces…
Not so long ago, for luxury goods retailers the African market boiled down to a tiny elite, in some cases just a corrupt ruling clique. Not anymore. Although millions of Africans remain stuck in crushing poverty, disposable incomes are on the up. Luxury firms like LVMH, which makes Moet and Hennessy luxury drinks as well as Louis Vuitton handbags, are targeting the burgeoning ranks of what South African retailers call “black diamonds “, or affluent African professionals.
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.
Africa’s brisk economic growth over the past decade has been consumer driven, a much-hyped trend that masks the uncomfortable fact that the continent is still far too reliant on commodities. Sub-Saharan Africa’s growth rate has been second only to Asia’s and cracked along at 5.8 percent last year, if South Africa is excluded, according to a World Bank estimate. About two-thirds of growth in the past decade has been driven by domestic demand, which has been stoked by a number of factors including the continent’s fast-growing and young population.