issue: 292 | 18 February 2019

Angola

Airbus consortium builds Angola’s new telecommunications satellite
The Angosat-2 telecommunications satellite is being built by the European Airbus consortium since April 2018 and is expected to be put into orbit in 2021, said the Angolan Minister of Telecommunications and Information Technology. 
José Carvalho da Rocha said that Angosat-2 will cost USD320-million and was no longer being built by the Russian consortium that built Angosat-1, which after it was launched on 26 December 2016 from the Baikonur Cosmodrome in Kazakhstan, ran into problems communicating with the command centre. Angosat-1 was reported as lost in February 2018, with Angola giving assurances that its financial involvement had been safeguarded by a well-drafted contract and a USD121-million insurance policy.

Source: Macau Hub

Burkina Faso

The European Union supports the PN-IWRM to the tune of FCFA3-billion
FCFA3-billion is the amount of budget support granted by the European Union to the integrated water resources management component to support water agencies. This budget support is a means to support government policies and efforts on IWRM. It also aims to strengthen the organisational and technical capacities of local water committees. Reinforcements of water agencies are very important objectives in terms of sharing this resource, which is essential for human activity and development. Support for the five water agencies will be implemented with the participation of the NGOs that have been awarded the contracts. 

Source: Lefaso

Cape Verde

Cape Verde to have permanent representation of the World Bank

The installation in Cape Verde of a permanent representation of the World Bank is an “example of confidence” in the country, its institutions and its future, the deputy prime minister and finance minister said in Praia. Olavo Correia was speaking after signing the official document to open the office along with the World Bank’s director of operations for Cape Verde, Louise Cord, according to the Inforpress news agency. The deputy prime minister, who thanked the World Bank for its focus on the country, recalled that the archipelago has a portfolio of projects financed by the institution worth over USD100-million.

Source: Macau Hub

Ethiopia

Israeli company to export processed sesame from Ethiopia
Krotaj, a joint venture company formed between an Israeli company named Genuine and Ethiopian Sesame Export, has opened a new sesame processing factory in Ethiopia. The company aims to export processed sesame known as Tahina and generates USD10-million annually by processing 3,700 metric tonnes of sesame. Speaking at the inauguration, Mr. Yohanes Sintayehu, State Minister of Industry indicated that the government will continue to support such investments, which processes agricultural commodities that contribute to increasing of export earnings and job creation. Ethiopia has high-quality sesame seed varieties suitable for wide range applications, according to the oil seeds producers association of Ethiopia. 

Source: New Business Ethiopia

Ethiopia

Ethiopian scientist introduces liquid fertilizer
Ethiopian scientist at Mekele University Veterinary College lecturer, Tinsay Weldegebriel, has introduced a liquid fertilizer that can be used to grow plants without soil and water. The organic fertilizer he said can be produced from easily available inputs such as animal waste and manures, has the potential to save the country’s bill spent on importing fertilizers. One litre liquid fertilizer he produces can be diluted by 240 litres of water, while one litre of the diluted liquid fertilizer can grow up to 60 kilograms of grass; he said speaking to the state broadcaster – ETV. He said that one litre of his liquid fertilizer using hydrophone technology he uses allows growing 10 to 11 kilograms of plant from one kilogram of seed. 

Source: New Business Ethiopia

Ghana

Parliament approves EUR10-million supplier agreement for 520 tractors
Parliament has approved a EUR10-million supplier agreement for the importation of some 520 tractors to aid in the mechanisation of agriculture. Joy News’ Joseph Opoku Gakpo reported that the Minority in the House raised concerns about the affordability of the tractors. The Minority, he said was concerned that despite the expected subsidy on the tractors, the ordinary farmer may not be able to purchase them. Before he was elected, Nana Akufo-Addo made various promises to farmers, the prime of those being, ‘Planting for Food and Jobs programme’ (PFJ). The policy included supplying farmers and potential farmers with seeds and fertiliser at subsidised prices.

Source: My Joy Online

Ivory Coast

IronRidge acquisition complements gold portfolio
IronRidge Resources has secured the right to acquire a highly prospective gold license application in Côte d’Ivoire, West Africa. Commenting on the latest IronRidge progress, Vincent Mascolo, CEO & MD, said “Zaranou represents a high priority, near drill ready opportunity with substantial geological potential over a 40 km strike gold mineralised shear zone. “Multiple large‐scale artisanal gold workings, exposing up to 60m to 120m wide working faces within weathered bedrock and occurring repeatedly along the identified 1.6 km strike is highly encouraging; providing a robust, high‐priority target zone and confidence in a potential significant mineralised system.

Source: Mining Review Africa

Ivory Coast

Newcrest sells Côte d’Ivoire project to Canada’s Roxgold in USD30-million deal
Australia’s largest gold producer, Newcrest Mining is selling its Séguéla gold project and its portfolio of 11 exploration tenements in Côte d’Ivoire to Canada’s Roxgold in a deal valued at USD30-million. The Toronto-based miner will pay USD20-million upfront, followed by a USD10-million deferred payment due if and when Séguéla reaches production. Roxgold said it believed the project has near-term development potential due to its Antenna deposit, which hosts an inferred resource of 5.8 million tonnes at an average of 2.3 grams per tonne of gold, in addition to other satellite opportunities. Once the acquisition is finalised, Séguéla will become Roxgold’s second major project after the Yaramoko gold mine in Burkina Faso, also in West Africa.

Source: Info Mine

Kenya

Base Titanuim seals deal with Invest Africa to help local suppliers
Kenya’s largest mine, Base Titanium has signed a Memorandum of Understanding (MoU) with a not-for-profit organisation and private sector growth catalyst Invest in Africa. The MoU will see Base Titanium harness and increase opportunities for local suppliers within Kwale County and Likoni Sub-County which are central to its operations. According to Base Titanium’s Finance and Administration Manager, Mr Sami Chalwa, the partnership was informed by a study Base commissioned in 2016 to identify gaps in the local content supply chain after the company noticed that fewer local businesses were applying for tenders.

Source: Standard Media

Kenya

Tatu City awards residential infrastructure contract to Stecol Corporation

Tatu City has appointed global engineering and construction group Stecol Corporation as the lead infrastructure contractor for its residential project at Kijani Ridge in Tatu City. Under the multi-million shilling contract, Stecol will complete the construction of Kijani Ridge infrastructure, including roads, water, sewage, street lighting and stormwater management. Work has already started and is expected to be completed by early Q2 2019. “We completed a highly competitive vetting process, and Stecol was selected largely due to its capacity to deliver on mega projects, as well as its good reputation around the globe,” said Nick Langford, Kenya Country Head for Rendeavour, the owner and developer of Tatu City.

Source: Capital FM

Kenya

Cytonn to tap new investment after acquiring REIT licence

Cytonn Investments has been granted a Real Estate Investment Trust (REIT) Manager License by the Capital Markets Authority (CMA). The move comes after the firm was recently granted a license to manage retirement benefit schemes funds by the Retirement Benefits Authority (RBA) in December 2018. The new license will allow the firm to register their own REIT products, which include Development REIT’s and Income REIT’s, allowing them to access a pool of investor capital that wishes to take specific real estate exposure. Cytonn Asset Managers Limited (CAML) becomes the ninth Kenyan fund manager to be granted a REIT Manager License by CMA. Having the REIT Manager license will allow CAML REIT’s source funds to build or acquire real estate assets, which they sell to generate development returns, or rent to generate income.

Source: Capital FM

Madagascar

Bushveld Minerals unit advances planning for Madagascar coal, power project
Bushveld Minerals said coal and energy subsidiary Lemur Holdings had advanced planning for the Imaloto integrated coal mine and power project in Madagascar. Lemur had completed a review of a bankable feasibility study for the power aspect of Imaloto. A review process had also been initiated for the final draft of the bankable feasibility study for the coal component. Bushveld said Lemur had made continued progress on social and environmental impact assessment study fieldwork. Due diligence for project preparation finance had been completed with one lender, while engagement had continued with all lenders on project financing. Discussions with an export credit insurance provider for credit and political risk insurance cover were at an advanced stage.

Source: Stock Market Wire

Mauritius

Mauritius is no longer blacklisted by the European Commission
The European Commission reviewed its list of countries with lax control systems for the fight against money laundering and terrorist financing - Anti-Money Laundering / Combating the Financing of Terrorism (AML / CFT). Mauritius is no longer on this blacklist, having taken the necessary measures to ensure that its financial sector meets international standards and is credible. The purpose of this list, says the European Commission, is to protect the European Union's financial system from money laundering and terrorist financing. The list is based on an analysis of 54 priority countries and territories.

Source: ION News

Mauritius

Mauritius reaches renewable energy agreement with Italy
The Mauritius Ministry of Energy and Public Utilities has signed a Memorandum of Understanding (MoU) with the Italian Ministry of Environment, Land and Sea, for cooperation in renewable energy and energy efficiency. The Italian government will invest EUR2-million towards the MoU. According to Ivan Collendaveloo, deputy Minister of Energy and Public Utilities in Mauritius, the MoU will help the two countries to improve scientific research on energy technologies. The agreement will result in the introduction of new smart grid technologies and help improve the reliability of grid networks through the expansion of renewable energy portfolios. The two countries will collaborate to provide energy stakeholders with training and capacity building in energy efficiency.

Source: ESI Africa

Mozambique

Gemrock acquires ruby mining licenses in Mozambique

Gemrock, a subsidiary of Indian group Diacolor International DMCC, has acquired all of Regius Group’s assets in Mozambique, which include six licenses for ruby mining, the Diamond World website reported. This acquisition means Gemrock has taken control of one of the world’s largest ruby mines, located in Montepuez, in the northern Mozambican province of Cabo Delgado, as well as increasing its total mining licenses to 14. The statement said Gemrock, which was founded by Rishabh Tongya & Rajiv Gupta, two gemstone experts, will continue to acquire assets around the world. The acquisition, the value of which was not disclosed, is free of any debt and when completed, by 31 March, will give Gemrock the second largest area of all the ruby mining companies operating in Mozambique.

Source: Macau Hub

Mozambique

Australian company sells graphite mining assets in Mozambique
New Energy Minerals has signed a binding agreement with Auspicious Virtue Investment Holdings for the sale of its remaining 50% stake in Balama Properties Pty Limited in Mozambique, the Australian company said in a statement issued. The statement added that after the formal conclusion of the deal, Auspicious Virtue Investment Holdings, an investment vehicle owned by Louis Ching, will hold all of the shares representing the share capital of Balama Properties. New Energy Minerals announced on 7 November 2018 it had reached an agreement with Ching under which this investor acquired the 50% stake through Auspicious Virtue Investment Holding Limited, a company incorporated in the British Virgin Islands.

Source: Macau Hub

Mozambique

World Bank helps Mozambique reduce carbon emissions

The World Bank has announced that it will grant up to USD50-million to Mozambique to help the country reduce carbon emissions and deforestation, according to a statement released in Washington. Mozambique and the Democratic Republic of Congo were the first two of 19 countries to sign these contracts financed through the Forest Carbon Partnership Facility (FCPF) Carbon Fund, managed by the World Bank, according to the statement. Mozambique signed the agreement on February 1, unlocking a grant that could reach USD50-million depending on the results, while the Democratic Republic of Congo, which joined the programme in late 2018, can receive up to USD55-million. About 43% of Mozambique’s territory is covered by forests (34 million hectares) that have been severely deforested in recent years by logging trees for timber exports.

Source: Macau Hub

Namibia

Namibia Critical Metals signs deal for small-scale manganese mining at Kunene

TSXV-listed Namibia Critical Metals, through its wholly-owned subsidiary Kunene Resources Namibia, has signed an agreement with a private Namibian group to allow the pegging of a mining claim covering a small manganese occurrence within EPL 4347 which is held by the company. The agreement will allow the group to develop a small scale mining operation to exploit a manganese occurrence within Kunene copper-cobalt project area in return for a sliding scale royalty payable to the company based on the grade of concentrate produced and prevailing commodity prices. Cash flow from royalty payments will contribute to continued exploration and development of the company's Kunene copper-cobalt project.

Source: Mining Review Africa

Niger

Niger will soon be on the capital market with a bond loan of FCFA60-billion
Niger has announced on the capital market of the West African Monetary Union a bond loan whose amount should be FCFA60-billion. Credible sources announce that the SGI Niger has obtained from the government, the mandate for the assembly, the launching and the management of the operation. The interest rate is announced at 6.5% and the maturity is 7 years. The principal of the debt will be repaid each year for 5 years, starting from the third year. Thus, the gain to be shared by investors in the first year will ultimately amount to FCFA19.5-billion. The dates of issue are not yet known. Niger is a permanent issuer of the West African Economic and Monetary Union (WAEMU) capital market. It has already mobilised close to FCFA1490-billion since 2014 in the framework of 54 completed operations. 

Source: Niamey et les 2 Jours

Nigeria

Nigeria signs USD30-billion export-financing deal

The federal government of Nigeria has reached a USD30-billion export-financing deal with investment partners, local media reports. Among the partners are the African Export-Import Bank, Africa Finance Corp., the African Development Bank, the Bank of Industry and the Nigerian Sovereign Investment Authority. Africa’s biggest oil producer is looking to increase the manufacturing industry’s share of gross domestic product to 20%, Bloomberg said. The West African nation also hopes to generate USD30-billion in annual export earnings and create 1.5 million jobs in the next six years. Lagos-based ‘‘This Day’‘ newspaper quoted President Muhammadu Buhari as saying at a signing ceremony speech at the Council Chambers of State House in Abuja.

Source: Africa News

Somalia

Somalia opens first offshore licensing round
Somalia’s first offshore hydrocarbon licensing round was officially launched at a conference held at the Claridge Hotel in London, UK. The deputy speaker of the People’s House, Abdiwali Sheik Ibrahim Muudeey, and the minister of Petroleum and Mineral Resources, Abdirashid Mohamed Ahmed, welcomed delegates and introduced industry experts who outlined the terms. A total of 15 offshore blocks were unveiled at the event, covering an area of up to 5,000 sq km and spanning much of the SE coastline. Interested parties were asked to submit their bids by November 2019. Following a cooperation agreement with the Federal Government of Somalia, Spectrum has completed the acquisition and processing of 20,185 km of 2D long-offset seismic data. This programme complements 20,500 km of existing seismic data acquired in 2014.

Source: Oil Review Africa

South Sudan

South Sudan government announces return to pre-war oil production levels

South Sudan will return to producing more than 350,000 barrels of crude per day by the middle of 2020, up from current levels of just over 140,000 barrels per day (bpd) currently, the country’s oil minister said. Production is expected to rise to 270,000 bpd by the end of 2019, Oil Minister Ezekiel Lul Gatkuoth told Reuters. He was speaking on the sidelines of the Petrotech conference in Greater Noida, a satellite city of India’s capital New Delhi. The world’s youngest country, which split from Sudan in 2011, has one of the largest reserves of crude in sub-Saharan Africa, only a third of which have been explored so far. South Sudan has signed a preliminary agreement with Russia’s Zarubezhneft for exploring some of the blocks, Gatkuoth said.

Source: Africa News

Tanzania

Total launches lubricant blending plant in Tanzania
French major Total has launched a lubricant blending plant worth USD20-million in Tanzania. Total has stated that as a part of its growth, expansion and commitment to participate and contribute to industrialisation in Tanzania, the company has acquired a USD20-million blending plant that will see the manufacturing and blending of lubricants and grease done in the country along with the introduction of Total innovations and high-tech know-how to Tanzania lubricants industry. The blending plant will also see new employment opportunities, increased production of lubricants for local consumption at a more attractive price, increased government revenues through taxes arising out of business growth and exportation of lubricants to neighbouring countries.

Source: Oil Review Africa

Tanzania

German tech company eyes Tanzania's market
The Germany Technology Giants, Bosch Company is eyeing the Tanzanian tech market. This has seen the firm hold a crucial meeting with the Minister for Investment Angela Kairuki in Tanzania Investment Centre's (TIC) office. Bosch Company is a world-leading multinational engineering and electronics company whose core operating areas are spread across four business sectors; mobility solutions (hardware and software solutions), consumer goods (including household appliances and power tools), industrial technology (including drive and control) and energy and building technology. The delegation expressed strong interest to invest in Tanzania in various technological solutions after realizing the huge potential the country has in terms of growth and opportunities including automobile assembly.

Source: The Exchange

Tanzania

OOMCO plans expansion in Saudi Arabia and Tanzania
Oman Oil Marketing Company (OOMCO) has announced a plan to expand its operations in Saudi Arabia and Tanzania. In 2018, OOMCO opened its first mega station in Dammam, Saudi Arabia. The 40,000 square meter facility includes cafes, rest areas and five-star automated car washes. The company plans to have four fully operational service stations in Saudi Arabia this year, its second site in the kingdom is scheduled to open by April and two more in the second half of 2019. With its mission to invest outside the sultanate, the company has focused on Tanzania’s fuel retail market as well as its shop, food and services market. OOMCO’s 2025 plans include a shift to acquire 40% of the local market share, increase the distribution of lubricants, and expand its network of service stations across the sultanate and globally.

Source: Oil Review Africa

Uganda

AgDevCo, Centurion Agricultural Partners invest in Uganda’s pork industry
AgDevCo and Centurion Agricultural Partners have unveiled a multimillion-dollar investment in the Nakifuma Farming Company, a new 390-sow pig breeding and finishing unit on the outskirts of Kampala, Uganda. The company is one of only a handful of commercial-scale pork farms in the country. Nakifuma will use improved genetics and animal husbandry practices to deliver quality meat to satisfy rapidly growing local demand, including from popular roadside "pork joints". It is a little-known fact that Uganda has the second highest per capita consumption of pork in Africa, only narrowly behind South Africa. There is enormous potential to modernise the industry. There are also plans to develop out-grower schemes to involve smallholder farmers in rearing their own pigs.

Source: Africa Business Communities

Zimbabwe

John Deere dangles USD50-million deal
World-renowned manufacturer of agriculture, construction and heavy equipment, John Deere, is in talks with the Government with a view to concluding a deal that could see the firm providing agriculture mechanisation equipment worth over USD50-million. Representatives of the conglomerate met with senior Government officials in Harare led by the Deputy Chief Secretary to the President and Cabinet, Mr Justin Mupamhanga, from which they emerged and committed to invest locally. Speaking to journalists after the closed-door meeting, John Deere managing director for Sub-Saharan Africa Mr Antois van der Westhuizen said his firm and Government were working on modalities that will see the former helping in guaranteeing food security through mechanised farming.

Source: The Herald


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