Finland raises EUR8.7-million for tech start-ups in Africa
The Finnish government has raised EUR8.7-million to fund technology start-ups in South Africa, Botswana, Namibia, Tanzania and Zambia through the second phase of its Southern Africa Innovation Support (SAIS) Programme. The funds will be allocated to companies from these countries until June 2021. The Nordic government wanted to invest in start-ups in Africa, which it says offers large, young markets that can sustain mobile phone applications, cybersecurity services and health technology, said Juhana Tuunanen of the Finnish ministry of foreign affairs.
Source: Business Day
Brazilian group Odebrecht divests stake in Angolan diamond company
Wargan Holdings Limited, a company whose share capital is 100% owned by Russian group Alrosa PJSC, acquired a 16.4% stake held by Odebrecht Mining Service Investments GmbH in the Catoca Mining Company (Sociedade Mineira de Catoca – SMC), according to an order published in Angola’s official bulletin. The same order cited by Angolan news agency Angop also said that Wargan Holdings Limited subsequently sold this stake to the Alrosa PJSC group and the state-owned diamond company Endiama in equal shares of 8.2%. The share capital of SMC was thus divided into two 41% stakes owned by Endiama and the Russian group and the remaining 18% is owned by LL Internacional Holding B.V.
Source: Macau Hub
Angola signs two loans for Laúca Hydroelectric Plant
The Angolan government has taken on two new loans with a combined value of USD396-million to be invested in the Laúca Hydroelectric Plant, the country’s largest dam, according to two presidential orders. One of the loans, in the amount of USD246-million (AOA41-billion) will be taken on from the Standard Chartered Bank, and the second will be from British company Gemcorp, worth USD150-million (AOA25-billion).
Source: Macau Hub
Mining companies invest USD10-million to prospect for gold in Angola
Two mining investment contracts, worth a total of USD10-million, have been approved by the Angolan Ministry of Mineral Resources and Oil for gold prospecting in the province of Cabinda, according to an executive order published in the country’s official bulletin. According to the order Sociedade Mineração Buco-Zau will invest USD5-million in gold prospecting in a concession with an area of 331.75 square kilometres and the same amount will be applied by Sociedade Mineradora Lufo on a plot of land with an area of 375.01 square kilometres.
Source: Macau Hub
British company to build USD100-million textile, garment factory
The British company Intrade UK Ltd. has concluded an agreement to build a USD100-million textile and garment factory at Mekele Industrial Park. The agreement is part of the USD200-million Memorandum of Understanding (MoU) to invest in textile and garment, pharmaceuticals, and agricultural products processing sectors. The company which owns cotton farming in Sudan has got a UD200-million investment license in textile and garment, pharmaceutical and agricultural products after signing a MoU. The textile and garment factory to be built in the industrial park will reportedly create more than 1,300 new jobs.
Sources: Ethiopian News Agency
Israeli company to invest USD500-million in Ethiopia
Gigawatt Global, an Israeli company said it will invest USD500-million in Ethiopia in renewable energy and human resource development. Josef I. Abramowitz, CEO of the company announced the plan following discussions with Prime Minister Hailemariam Desalegn alongside with the Israeli companies. The company which is interested to invest in solar and wind power has planned to work with 10 Ethiopian universities. Energy development, human resource development, education, potable water and agriculture are among the areas that the companies are interested to be engaged.
Source: Ethiopian News Agency
Guinean government approves multi-million mining project with China
The Guinean government approved the construction of an extraction and refining project for bauxite and aluminum smelter with the Chinese company TBEA of USD2.8-billion, authorised media confirmed. The new facilities will raise the country's bauxite production to 50 million tonnes, according to estimates from the Ministry of Mines, whose general director, Saadou Nimaga, announced negotiations with a Singapore consortium for the construction of an aluminum refinery in 2019. The start of operations of the plants is scheduled for mid-2019 with an initial capacity of 10 million tonnes of bauxite per year, which will rise to 30 million in the next 12 months, according to details.
Source: Prensa Latina
Consortium plans Sh500-million bitumen plant in Kwale
Kenya could soon transform from an importer of road construction material to an exporter within five years as a Luxembourg-based investor announced plans to build a bitumen manufacturing plant. West European Group S.A.R.L says it will set up the factory in Shimoni, Kwale County at a cost of Sh500-million within the next five to seven years. It will be implemented by a consortium of investors from Europe, China and other Asian countries within a period of 25 years. A local engineering firm, Shelter Solutions Limited (SSL), has partnered with the Coast Development Authority (CDA) and the Kwale County Government as lead developers in the project.
Source: Business Daily
French firm Groupe ADP wins JKIA terminal deal
French company Paris Aeroport, formerly Aeroports de Paris or ADP, has won a contract with Kenya Airports Authority (KAA) for design of a new passenger terminal at the Jomo Kenyatta International Airport in Nairobi. The contract involves preliminary design work of the new passenger terminal as well as baggage sorting systems, said Gratien Maire, CEO of ADP Ingenierie, a subsidiary of Groupe ADP that in turn owns Paris Aeroport. KAA aims to increase the airport’s capacity from the existing six million to 10.3 million passengers per year.
Source: Business Daily
Malawi’s capital to Get USD100-million water upgrade
The half million residents of Malawi’s capital city, Lilongwe, are smiling in anticipation of improved water services and safely managed sanitation through a new USD100-million project financed by the World Bank. Many areas in the capital of this southeast African country are not now served by piped water, and only five percent of the population is served by a sewer system, while most residents rely on on-site sanitation systems such as pit latrines and septic tanks. But improvements are in the pipeline. The World Bank last month approved financing for the six-year Lilongwe Water and Sanitation Project.
Source: Environment News Service
Obtala Group enters into a public-private joint-venture forestry exploration in Mozambique
The forestry group Obtala Ltd has partnered with FundInvest, an investment company, to combat illegal logging and to promote timber processing in Mozambique. FundInvest, made up of the Ministry of Land, Environment and Rural Development, will be managed under a non-binding Memorandum of Understanding with 51% of the joint-venture capital, with the remaining 49% to be divided into 1.0% for the group and 48% for Argento, a subsidiary of the group. The joint-venture will operate a business for the felling, purchase, processing, export and distribution of forest products in Mozambique, with the authorisation to purchase timber from small concession holders.
Source: Macau Hub
Indian company Essar Ports builds coal terminal in Mozambique
Indian company Essar Ports of the Essar group plans to invest USD500-million to build a new coal terminal in Mozambique and expand the capacity of two domestic projects, Hazira and Salaya, the chief executive of the company said. Rajiv Agarwal said that the investment will be made over the next two and a half years and will expand the company’s capacity to 150 million tonnes of coal a year from the current 110 million tonnes. In August 2017, Essar Ports signed a 30-year concession agreement with the Mozambican government for construction of the coal terminal at the port of Beira, in Mozambique’s Sofala province.
Source: Macau Hub
AfDB okays energy loans fund
The African Development Bank (AfDB) has approved a USD30-million investment facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF) programme to provide loans to off-grid energy companies scaling up access to clean electricity for households. The funding will also crowd in local financial institutions as co-lenders on the continent. This follows the approval of additional investments of USD10-million from Calvert Impact Capital (CIC), USD8.5-million from the Global Environment Facility (GEF) and EUR6-million from the Nordic Development Fund (NDF).
Source: Zambia Daily Mail
Government to invest USD60-million in base stations
Information Communication Technology minister Supa Mandiwanzira told journalists in the capital that the major thrust would be on the base stations as well as the provision of optic fibre cable and riding on infrastructure sharing which has received substantial uptake. More than USD60-million will be invested in the establishment of at least 300 base stations across the country this year by mobile network operators as infrastructure sharing gathers momentum, a top government official has said. The development of the base stations is among some of the ministry’s flagship projects in line with the government’s 100-day action plan which entails erecting 100 base stations in President Emmerson Mnangagwa’s first 100 days in office.
Source: The Independence
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