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issue 306 | 26 May 2019

Africa

IDHS mulls African expansion to increase healthcare access

Nigerian e-health start-up iDHS HealthWise is looking to expand operations across a host of African countries among them Ghana, Kenya, Rwanda and South Africa as it seeks to increase access to various healthcare services. Launched in 2018, iDHS has rolled out HealthWise, an integrated digital healthcare platform that is feature-rich and interactive and helps people manage their health. The web-based app aims to put medical consultation and other health services and products at a user’s fingertips, providing them, with direct text and audiovisual access to general and specialist doctors, testing and treatment signposting, and a range of other services and products.

Source: Africa Business Communities

Angola

Chinese group CITIC opens aluminium profile factory in Angola

CITIC Alumínio Angola’s aluminium profile factory was inaugurated in the Luanda-Bengo Special Economic Zone in Viana, following an investment of USD40-million, the Angolan press reported. The plant is the result of a joint investment between CITIC Construction and CITIC Bohai Aluminum Industries Holding Company Limited, will occupy an area of 20 hectares and is expected to produce about 10,000 tonnes of aluminium profiles for the industry annually. Licínio Vaz Contreiras, president of the Private Investment and Export Promotion Agency (Aipex), said he expected the project to cover a significant part of the needs of the Angolan market, thereby contributing to the reduction of imports of aluminium and similar profiles, easing pressure on the country’s foreign exchange reserves.

Source: Macau Hub

Angola

Government of Angola reduces import and export costs at ports

The commissions charged by the Angolan National Shippers Council (CNC) for services rendered in the maritime-port sub-sector have been reduced by half by a decision of the Angolan government, through an order of the Minister of Transport. The order establishes that in addition to the 50% reduction in the fees charged by the CNC for issuing licenses in import procedures, the issue of export certificates for goods destined for export is exempt from any payment. The same document reduces the Port Use Rate (TUP) charged on the cargo for export by 15%, and a payment of a maximum fee equivalent to USD40 (50% less) to weigh full containers for shipment (Verified Gross Mass), under the terms set out in the SOLAS Convention.

Source: Macau Hub

Angola

Government of Angola supports the private sector with interest subsidy

The Angolan government will boost its support for private investment with a credit programme that offers subsidised interest rates, announced President João Lourenço in a message addressed to members of the National Assembly. The Minister of State for Economic and Social Development, Manuel Nunes Júnior, reading the presidential message, said the public vehicles for financing the economy, such as the National Development Fund and the Active Venture Capital and Credit Guarantee Fund, would be bolstered. The minister, quoted by Angolan news agency Angop, recalled that public enterprises that are economically viable will be bolstered, while all those that may be better managed by private entities will be privatised.

Source: Macau Hub

Cape Verde

Brazilian group Oi raises USD26.3-million through the sale of a stake in Cabo Verde Telecom

Cape Verde has paid USD26.3-million to repurchase the 40% stake owned by PT Ventures of Brazilian group Oi in the share capital of Cabo Verde Telecom, the government said in a statement released in Praia. Following this deal, Cabo Verde Telecom is controlled by the shareholders National Institute of Social Security (INPS), with 57.9%, airport and air safety agency ASA, with 20%, the Cabo Verde state, with 3.4% and state post office Correios de Cabo Verde, with 0.7%. The remaining 18% is in private hands. The signing of the sale and purchase agreement, in which INPS and ASA each accounted for half the shares, marks the end of the dispute between the State of Cabo Verde and PT Ventures over Cabo Verde Telecom, which has been ongoing since 2014.

Source: Macau Hub

Chad

AfDB President pledges deeper cooperation for energy sector

African Development Bank President (AfDR) Akinwumi Adesina, has pledged to deepen cooperation between his organisation and Chad, to help the central African nation meet critical development financing needs. At a meeting with Chadian President Idriss Deby in the landlocked country’s capital, N’Djamena, Adesina also called on development partners to support Chad’s energy sector to increase power generation capacity to 400MW per year, from less than 100MW currently. "The Bank will provide budgetary support to Chad in 2020 and 2021," said President Adesina, referring to the country's financing needs. Critical areas in need of funding are energy, infrastructure, agriculture, water and environment, private sector and capacity building, government officials said.

Source: ESI Africa

Democratic Republic of Congo

Amani Gold to acquire lucrative exploration permits

ASX listed Amani Gold has signed an MoU with Bon Génie N. Mining to acquire 10 highly prospective gold exploration permits for the Gada gold project in the Democratic Republic of Congo (DRC). This acquisition will be via Amani Gold's 85.7% interest in BN Mining. BN Mining has an option agreement with La Société Minière De Kilo-Moto SA (SOKIMO) over 10 permits for Gada, located in north-east DRC within the Niangara, Dungu and Rungu territories of the Haut Uele Province. Amani Gold views Gada as offering a significant material opportunity for value enhancement to the company. Given the location, geology and scale of the tenement package, as well as the early stage scouting carried out across the project, it is clear that the package is highly prospective for large gold mineralisation.

Source: Mining Review Africa

Ethiopia

Ethiopia secures grant to roll-out hydropower projects

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has recently approved a USD995,000 grant to support the roll-out of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia. The SEFA grant is aimed at encouraging private investments into hydropower projects through Ethiopia’s Renewable Energy Programme. It will strengthen the government’s capacity to undertake bankability and technical analysis including feasibility assessments of projects in the hydro priority pipeline. The grant also provides for environmental and social impact assessments, resettlements action plans, and preparation of bidding documents for hydro projects.

Source: ESI Africa

Ethiopia

East Africa Metals awarded mining licenses for gold and copper projects

TSX-listed East Africa Metals has received government approval of mining licenses for the Mato Bula Gold Copper and Da Tambuk Gold Deposits at its Adyabo project in Ethiopia. With the acquisition of the Mato Bula and Da Tambuk mining licenses, East Africa’s assets now include four, fully permitted gold and base metal mining projects in Africa with total indicated and inferred resources of 2.8 million gold and gold-equivalent ounces and exploration upside. The mining license agreements for Mato Bula and Da Tambuk have been formally approved by the Ministry of Mines Petroleum and Natural Gas, the Prime Minister’s Office and the Council of Ministers. The Company will now focus on closing its previously announced Project Financing and proceed with the development of the Ethiopian Projects.

Source: Mining Review Africa

Ghana

appsNmobile Solutions receives Payment Card Industry Data Security Standard certification

Ghana’s fintech company appsNmobile Solutions has received the Payment Card Industry Data Security Standard certification having gone through and complied with all the standard requirements and guidelines of the certification council. The Payment Card Industry Data Security Standard (PCI DSS) is a set of security standards designed to ensure that all companies that accept, process, store or transmit credit card information maintain a secure environment. This certification means that processing payment through appsNmobile Solutions is safe and secured. The certification invests confidence in appsNmobile as a Fintech that is well placed to compete advantageously and to empower other payment companies in the ecosystem to safely process credit and debit card payments through their independent platforms, e-commerce websites and POS devices etc.

Source: Africa Business Communities

Ghana

Ghana signs USD500-million agreement for a new 100-km railway

Ghana signed a USD500-million agreement with China Railway Wuju Group Corporation (CRWG) for the construction of a new railway, the Global Construction Review reveals. The new railway is a 100 km standard-gauge railway linking Manso and Dunkwa. The Railway, planned to be completed within a maximum of 12 months, will complement the 22 km Kojokrom-Manso railway being constructed and facilitate the transport of people and goods. The new agreement falls within the framework of the government’s strategy that consists of massive investments in the infrastructure sector. Ghana also recently announced that it received new financing of USD1-billion from China for the construction of railways in the country.

Source: Ecofin Agency

Ivory Coast

Ivory Coast awards Tullow two new oil and gas blocks

Ivory Coast has awarded four new offshore oil and gas blocks, two to France’s Total and two to Italy’s ENI, government spokesman Sidi Toure said. Ivory Coast, the world’s top cocoa producer, is seeking to develop its long-neglected oil sector. “The government adopted a communication regarding talks on four contracts to share production with companies Total and ENI,” Toure told journalists. Total will operate offshore blocks CI-705 and CI-706, while ENI will operate blocks CI-501 and CI-504. The investment will total USD185-million, including USD90-million from Total and USD95-million from ENI during the exploration period, he said. Ivory Coast’s Petroci Holding would retain 10% of the consortium on each block, he said.

Source: Energy Mix Report

Ivory Coast

Société Générale opens a USD594.3-million credit line for SMEs

Société Générale Côte d’Ivoire concluded a USD594.3-million loan agreement with the state secretary to the ministry of trade and industry. The credit line will help support the growth of SMEs that represent close to 80% of the overall companies in Ivory Coast. The bank initiated a funding strategy for local SMEs in growth sectors. The 2019-2023 strategy is backed by a XOF450 billion funding. According to a 2017 study by Entrepreneurial Solutions Partners (ESPartners), the funding needs of formal SMEs in Côte d’Ivoire is estimated at XOF3.5 billion.

Source: Ecofin Agency

Kenya

Echotel International Proprietary authorised to acquire 80% of iWayAfrica Kenya

South African Echotel International Proprietary Limited has received the approval of the Competition Authority of Kenya (CAK), for the acquisition of 80% stake in the capital of iWayAfrica Kenya. The volume of the investment was not disclosed in the statement announcing the approval. iWayAfrica Kenya which offers internet and data storage services is a subsidiary of iWayAfrica. In the above-mentioned statement, the CAK indicated that this investment will help Echotel capture 1.8% of the internet services sector in Kenya. According to Delta Partners, the main internet services providers in Kenya are Telkom Kenya with 28% of market share, Liquid Telecom (25%), Safaricom (14 %) and Solutions Internet (13 %).

Source: Ecofin Agency

Lesotho

World Bank financing to provide improved water supply

Up to 115,000 Basotho and businesses in the Lesotho Lowlands will have access to improved water as a result of USD78-million financing from the International Development Association (IDA) for the country’s water supply scheme. This funding, for the Lesotho Lowlands Water Development Project – Phase II, will build on the work done under Phase I, which included the completion of the Metolong Dam and Water Supply Programme, that provides water supply services to the domestic and industrial water requirements for the capital, Maseru and surrounding settlements. The project will also assist in improving the technical and financial performance of Lesotho’s Water and Sewage Company (WASCO) for better sanitation infrastructure and services.

Source: ESI Africa

Mozambique

Dingsheng Minerals to start exporting minerals mined in Mozambique in 2020

Chinese company Dingsheng Minerals plans to start exporting 600,000 tonnes of ores extracted from Chibuto’s heavy sand deposits in Mozambique in 2020, the Mozambican Transport and Communications Minister announced. Carlos Mesquita, quoted by Mozambican newspaper O País, said that after the initial phase, the company plans to export 3 million tonnes of titanium and zircon annually from Chibuto deposits, which cover an area of 5,653 square kilometres and are considered the world’s largest with a lifespan of 100 years. The construction phase of this project is in its final phase, two years after it was started. Currently, the plant to process the heavy sands for the extraction of minerals is underway.

Source: Macau Hub

Mozambique

Cahora Bassa hydroelectric facility sells 2.5% of its shares on the stock exchange

Mozambique’s Cahora Bassa hydroelectric facility (HCB) will sell 2,5% of the shares representing its share capital in a public sale reserved for Mozambican citizens and companies, the company’s chairman said in Maputo. Pedro Couto said that in this first phase 680 million shares will be sold at a price of 3 meticais per unit, in an operation to be carried out through the Mozambique Stock Exchange that will provide an income of USD31.7-million. The subscription period will run from 17 June to 12 July, the selection will take place on 17 July and settlement on the following day, and admission to listing is scheduled for 22 July.

Source: Macau Hub

Namibia

Namibia installs clean-powered desalination system

Namibia has inaugurated its first ever fully solar-powered seawater desalination system, moving closer to achieve its efforts in becoming self-sustaining. The Namibian Government has commissioned the University of Namibia and the University of Turku in Finland in a joint initiative to implement the desalination system, MyProperty reported. The inauguration took place earlier this month at the University of Namibia by H.E. Dr Sam S Nujoma, the founding President of the Republic of Namibia. UNAM Vice-Chancellor, Professor Kenneth Matengu, commented: "The impact we hope to receive through this plant is to contribute to food security and increase energy supply while simultaneously combatting and mitigating the effects of climate change. We can make Namibia green."

Source: ESI Africa

Namibia

Debmarine Namibia to invest in first ever custom-built diamond recovery vessel

The Board of Directors of Debmarine Namibia, a 50/50 joint venture between the Government of the Republic of Namibia, have approved the construction of the world’s first ever custom-built diamond recovery vessel. The new vessel is expected to cost USD468-million and represents the largest ever single investment in the marine diamond industry. The ship will become the seventh vessel in the Debmarine Namibia fleet and is scheduled to commence operations in 2022. On completion, the vessel is expected to add 500,000 carats annually to Debmarine Namibia’s production, an increase of approximately 35% on current production. The new vessel is expected to create more than 160 new jobs alongside Debmarine Namibia’s current workforce of 975 employees.

Source: Africa Business Community

Nigeria

Econet, France’s EDF plan commercial hybrid energy services for Nigeria, others

Distributed Power Africa (DPA), a subsidiary of Econet Wireless Global, and EDF (Électicité De France) a world leading electricity company, have signed partnership cooperation agreement to jointly develop Commercial and Industrial (C&I) and hybrid energy solutions to the African market. Both companies plan to deploy their solutions in sub-Saharan Africa, which initially includes South Africa, Ivory Coast and Nigeria, with the intention to expand into other key markets. DPA and EDF plan to set up power businesses in various African countries with countries like Nigeria and Ivory Coast high on their priority list. They intend to accelerate the deployment and roll-out of Green energy across Africa, with EDF acting as a technology partner for DPA projects in Africa.

Source: Energy Mix Report

Nigeria

Nigerian Stock Exchange, Securities and Exchange Commission streamline approval process to encourage more listings

The Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC) have moved to make the processes involving listing on the NSE more efficient and cost-effective by streamlining the approval process between NSE and SEC. The streamlined process which will come into effect on June 1, 2019, is aimed at reducing the regulatory burden on issuers by eliminating duplication of processes between the NSE and SEC, reducing the time to market for the issuance and listing of securities and ultimately driving more listing on The Exchange. With the streamlined processes, NSE and SEC will carry out joint site visits of companies intending to get listed, following the registration of their securities with the SEC.

Source: Africa Business Communities

Nigeria

MainOne commits USD70-million to digitisation of Lagos

West Africa's connectivity and data centre solutions provider, MainOne has launched its "Digital Lagos: Broadband for All" campaign initiative to enable the digital transformation of Lagos state through the deployment of ubiquitous broadband infrastructure across the state. MainOne's ambitions for Lagos is inspired by the vision of Lagos Governor-elect Babajide Sanwo-Olu, who noted presciently that "Technology will improve the rule of law, education, ease of doing business and government processes of Lagos". This plan will involve the investment by MainOne of approximately USD70-million, over the next 2-3 years to develop critical fibre optic infrastructure to enable broadband services across Lagos state," she said.

Source: Africa Business Communities

Rwanda

BBOXX bags USD8-million loan to accelerate solar home systems in Rwanda

Next generation utility BBOXX has secured an USD8-million loan from the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI OGEF). The local currency loan – one of the first to be made since the fund’s launch last year – accelerates BBOXX’s roll-out of solar home systems across Rwanda, its largest market. The Rwandan Franc-denominated loan enables the company to expand its operations and bring clean, reliable and affordable energy to many more individuals, communities, and SMEs previously living without it. The innovative local currency loan mitigates the company’s medium-term FX related risks, as customers make mobile money payments in Rwandan Francs to pay for their solar electricity.

Source: ESI Africa

Tanzania

Kibaran Resources obtains finance approval from Tanzanian Government

ASX-listed Kibaran Resources has obtained in-principle approval from the Tanzanian Government for its proposed Epanko debt financing arrangements. This enables KfW IPEX-Bank to progress the Untied Loan Guarantee (UFK) submission for the German Government Interministerial Committee. Processes for arranging the project financing and related UFK cover application to the German Government have commenced and may take several months. Securing approval for the Untied Loan Guarantee is a critical milestone in the Epanko financing process. As recently reported positive developments within Tanzania have resulted in the appointment of KfW IPEX-Bank to arrange senior debt funding for the Epanko Graphite Project in Tanzania (Epanko).

Source: Mining Review Africa

Uganda

Uganda to install a comprehensive fleet management solution

A South African global provider of fleet and mobile asset management solutions has secured a tender to supply a water service provider in Uganda with a comprehensive fleet management solution. The water service provider operates an extensive fleet to fulfil its mandate of providing water for use in agriculture, rural industries, and tourism among others. It also coordinates the national development of water resources and provides effective planning and management for the water and sanitation sectors. “The data provided by our telematics solution enables this service provider to optimise the utilisation of its fleet, manage drivers, reduce costs, and increase productivity. "The benefits from effective mobile asset management are tangible and provide improvements that are sustainable,” says Gert Pretorius, the managing director of MiX Telematics Africa.

Source: ESI Africa