By choosing to continue, you are consenting to the use and functioning of this site as is in accordance with our Privacy Policy.

ORIGINAL THINKING
find an article

 
PRINT | |

Africa Business in Brief

 

issue 310 | 24 Jun 2019

Democratic Republic of Congo

Alphamin commences with hot commissioning at Bisie

TSXV-listed tin-focused mining company Alphamin Resources Corp. has commenced hot commissioning at its Bisie tin project. Construction of the mine, situated in northern Democratic Republic of Congo (DRC), was completed in the first quarter of 2019. Wet commissioning, whereby the plant runs on water, was completed. Hot commissioning, which involves feeding the plant with the material, checking instrumentation calibration, process flows and individual equipment throughput. The hot commissioning which builds up to instantaneous design throughput of 50 tph into the jigging section and 8 tph into the gravity concentration section is expected to be complete soon. Following the completion of hot commissioning, Alphamin will enter the final commissioning phase of product optimisation.

Source: Mining Review Africa

Angola

China builds electricity grid for Luanda and Bengo in Angola

Leaders of Chinese company Power Construction Corporation of China (PowerChina) announced that by the end of August they will complete the last connections that will allow the electrification of more than 300,000 houses in Luanda, benefiting more than 2.5 million people. The electrification project, located in the provinces of Luanda and Bengo, cost about USD675-million. China’s ambassador to Angola, Gong Tao, said the project is a small example of Sino-Angolan cooperation in the financial and infrastructure sectors and has allowed the construction and repair of over 2,800 kilometres of railway lines, built more than 100,000 social houses, 100 schools and 50 hospitals.

Source: Macau Hub

Angola

BP Angola starts offshore oil prospecting in Platina field in 2020

The director general of BP Angola said in Luanda that he expects to start drilling wells in the “Platina” field in deep waters of Block 18 by the middle of 2020. Hélder Silva also said the “Platina” field is already being developed and there are two contracts ready to be awarded, aiming to start drilling wells by the middle of 2020. In December last year, BP Angola and the Angolan state oil company, Sonangol, signed investment agreements for the development of the “Platina” field in deep waters of Block 18, where they share the operations, also extending the production license in the same place. According to Silva, this year BP Angola intends to produce 137,000 barrels per day in Angola, in the two blocks it operates, namely 31 and 18.


Source: Macau Hub

Botswana

Gem Diamonds drops Ghaghoo and exits Botswana

LSE-listed Gem Diamonds has entered into a binding agreement for the sale of 100% of the share capital of Gem Diamonds Botswana Proprietary, whose primary asset is the Ghaghoo diamond mine. Pro Civil will acquire the company and Ghaghoo which has been on care and maintenance since March 2017 and is wholly owned by Gem Diamonds Botswana (GDB). Under the share sale agreement, Pro Civil will make a once-off upfront payment of 5.4 million for the share capital of GDB. In addition, Pro Civil will assume the environmental liability currently associated with GDB. Subject to regulatory approvals within Botswana, the transaction is expected to be completed in the third quarter of 2019.

Source: Mining Review Africa

Burkina Faso

Government plans a USD309-million Road Development Program

The Burkinabe government is launching a big program worth about USD309-million to rehabilitate roads across the country. According to spokesman Rémis Dandjinou, the program targets 14 projects in various towns including Ouagadougou and Bobo-Dioulasso. Nearly USD45-million will be used, in the first city, to develop the south-east bypass of Boulevard des Tansoba, thanks to Japanese funding. USD18-million will be used to construct and tar 13 km of roads in the same city while another USD36-million will serve for same works on the Fada N'Gourma-Bogandé road, which extends over about 129 km.

Source: Ecofin Agency

Burkina Faso

Avesoro Resources restarts Youga operations

TSX and AIM listed West African gold producer Avesoro Resources restarted its open pit mining and gold processing plant operations at the Youga gold mine in Burkina Faso. Negotiations have now successfully concluded between the Company’s proposed open pit mining contractor, Orkun Group Sarl and former employees of the Company’s open-pit mining department. Meanwhile, Avesoro has revised its 2019 production guidance of 180 000 to 200 000 oz of gold, whilst assessing a number of project optimisation options, including ore sorting and heap leach scenarios at both New Liberty and Youga, with aims to further improve the economics of both projects.

Source: Mining Review Africa

COMESA

Six Comesa countries sign regional air transport liberalisation pact

Six COMESA countries have so far signed the Commitment towards the establishment of a single African Air Transport Market. The signing of the instrument, also known as the Solemn Yammassoukro Commitment (YC), by Egypt, Ethiopia, Kenya, Rwanda, Swaziland and Zimbabwe, puts the regional Air Transport liberalisation programme on course. This was revealed during the 11th Joint Meeting of Committees on Transport and Communications, Information technology and Energy taking place at the Kenya School of Monetary Studies in Nairobi, Kenya. Delegates from the Member States discussed the benefits of liberalising air transport as it has been supported by empirical evidence.

Source: Africa Business Communities

Ghana

Ghana to receive USD75-million World Bank support for Industrial Park

Trade Minister Alan Kyeremanten has said Ghana is due to receive USD75-million from World Bank to develop industrial parks. He said the package is part of a new World Bank project known as Ghana Economic Transformation Project (GETP). According to him, UK Department for International Development is also giving Ghana EUR20-million as part of efforts to create jobs through industrial parks. The Minister disclosed these to journalists after commissioning the Dawa Industrial Zone developed by LMI Holdings in the Ningo-Prampram District.

Source: My Joy Online

Ivory Coast

Cote d’Ivoire pilot to reduce energy losses globally

The US Trade and Development Agency (USTDA) has selected EnerNex as a partner for grid modernisation project in Cote d’Ivoire. EnernEx will provide its services for the implementation of a smart grid study project. The study will help Côte d’Ivoire Énergies (CI-ENERGIES) to identify measures to reduce its energy losses. The results of the pilot will be used to develop a full “Loss Reduction Strategy” and an implementation plan to reduce energy losses globally. The project will also help Cote d’Ivoire to expand its energy generation capacity by integrating more renewable energy resources. The West African country is confident modernising its grid will help it to achieve its goal of becoming an emerging country by 2020.


Source: ESI Africa

Kenya

Vivo set to take 50% stake in KFC franchise

Oil marketer Vivo Energy, which trades under the Shell brand name, is set to take a 50% stake in KFC in East Africa, in a deal with the owners of the fast food franchise Kuku Foods East Africa Holdings. Vivo has formed a non-fuel joint venture with Kuku Foods East Africa Holdings to manage and expand KFC restaurants in the region. The pan-African seller of Shell and Engen-branded fuels and lubricants announced that the 50:50 joint venture will manage and operate the restaurants in three markets on behalf of Kuku Foods who will remain the local KFC franchisee.


Source: Business Daily

Liberia

Financing to upgrade Monrovia water supply system for additional 52,000 users

The World Bank Board of Executive Directors has approved additional financing of USD24.74-million International Development Association (IDA) credit and USD5.26-million IDA grant to increase access to piped water supply services in Monrovia and surrounding areas, and improve the operational efficiency of Liberia Water and Sewer Corporation (LWSC). This additional financing of Liberia Urban Water Supply Project (UWSP) will be used to scale-up the rehabilitation and extension of Monrovia’s piped water distribution system, as well as to reinforce LWSC’s operational efficiency.

Source: Africa Business Communities

Mozambique

Investment agreement for liquefied natural gas project is signed in Mozambique

The Mozambican government and Area 1 partners led by US multinational Anadarko signed an agreement in Maputo to invest in the Rovuma liquefied natural gas project in Cabo Delgado province, in the north of the country. It is an investment of around USD25-billion to be financed by USD14-billion in bank funds and USD11-billion by shareholders’ equity. The agreement, signed by the Minister of Mineral Resources and Energy, Max Tonela, and the Chairman of the Board of Directors of Anadarko, Al Walker, in the presence of the Mozambican President, Filipe Nyusi, does not include any kind of guarantee from the Mozambican State.


Source: Macau Hub

Mozambique

Mozambique to build new Locumue dam in Niassa province

The Mozambican Minister of Public Works, Housing and Water Resources, João Machatine, laid the foundation stone for the construction of the new Locumue dam in Niassa province in northern Mozambique. The new venture, which will double the capacity of the province’s water supply system, will cost about USD8-million. The Locumue dam was built in the 1960s for irrigation purposes, but 10 years later it became the main source of water for the city of Lichinga, the capital of Niassa province. Machatine said the idea is to increase the volume of water in the reservoir by more than twice the current 1.76 million cubic metres to 3.4 million cubic metres.” Construction of the new dam is expected to be completed in March 2021.

Source: Macau Hub

Mozambique

China funds wind farm construction in Mozambique

The China Energy Investment company will build a wind farm in the Manhiça district of Maputo province with the capacity to produce more than 100 megawatts of electricity, according to Mozambican news agency AIM. With USD120-million in funding from the Chinese government, the plant may be completed in 2022. According to Maputo province government spokeswoman Olga Manjate, the wind farm will be installed in Calanga, near the coast, at an altitude of 50 to 80 metres. Manjate recalled that Calanga is a coastal wind farm and the choice of location was due to its geographical location, which offers favourable conditions for the construction and implementation of the project.

Source: Macau Hub

Namibia

Five African Banks fund construction of world’s biggest marine diamond mining vessel

Five African commercial banks will finance the construction of the world’s biggest marine diamond mining vessel. Debmarine Namibia, a joint venture between mining giant De Beers and the Namibian government, announced in a statement issued it has concluded a USD375-million agreement with the banks in that regard. 80% of the monies will be granted by Nedbank Namibia, RMB Namibia, Standard Bank, Absa and Bank Windhoek while remaining amount USD94-million will be provided by Debmarine Namibia. Nedbank Namibia alone will grant 40% of monies and also provide currency risk hedging for the whole deal. Called AMV3, this ship will be the 7th in Debmarine Namibia’s fleet to mine high-quality diamonds from the ocean using high-tech equipment.


Source: Ecofin Agency

Rwanda

Rwanda gets first gold refinery

Rwanda has acquired its first-ever gold refinery. And officials say it has the capacity to process gold from around the continent, boosting efforts to ensure that Africa adds value to its minerals before exporting them. The USD5-million plant is located at the Kigali Special Economic Zone in Gasabo District. Aldango, the company behind the initiative is a joint venture between two firms – Hilly Metals Company, a local company, and Aldabra. The two hold equal shares in the business. The refinery has been operating since March. Aldango was previously running as a business dealing in gold.


Source: The New Times

Rwanda

BK Group, French Development Agency ink USD20-million deal to fund SMEs in Rwanda

Bank of Kigali (BK Group Plc) has signed with a French Development Agency (AFD) a credit line worth USD20-million to finance small and medium enterprises in agro-business, ICT and renewable energy. The deal was penned down in Kigali city between the BK CEO Dr. Diane Karusisi and AFD Group CEO, Rémy Rioux. AFD is part of the French delegation that is in Rwanda to build a business relationship between the two countries, of which Rémy said that this was overdue since the group top official was last in Rwanda in 1992. “I wanted to personally come here (Kigali), and not send our Africa regional representative, to witness this signing which we started talking about eight years ago,” Rémy said.


Source: KT Press

Rwanda

Dutch firm to invest USD70-million in solar factory in Rwanda

At least 900,000 households, or 4.2 million people, will be connected to electricity in the next five years if the proposed solar factory begins operations. Dutch solar firm, NOTS, has announced it will invest USD70-million in the production of solar lighting products in Rwanda, raising the country’s prospects of achieving universal coverage by 2024. The development comes after the Government, early this month, said it had signed an agreement with the firm to manufacture and distribute solar home systems. With the size of the investment, the Government is also keen on supporting the firm to tap into the export market in the region as it increasingly bids to promote its Made-in-Rwanda programme to help bridge the trade deficit.

Source: The New Times

Rwanda

Rwanda and China sign USD43-million agreement to finance infrastructure

The Government of Rwanda and the People’s Republic of China have signed a grant agreement worth USD42.8-million that will among others, finance the expansion and rehabilitation of 10 km Prince house- Giporoso- Masaka road. Both Governments will engage further in consultations to explore other projects for financing under this grant. The expansion and rehabilitation Prince House-Giproso-Nyandungu-Masaka will see the road transformed from a two-way two-lane to a two way- four-lane road, a move that will significantly decongest traffic along the road. The Government of China has been active in the infrastructure sector, with the completion of Lot 4 and Lot 5 of the Kivu Belt road and the first phase of the Kigali Urban road upgrading project.


Source: Africa Business Communities

Somalia

Visa collaborates with IBS Bank Somalia to drive payments inclusion

IBS Bank announced a partnership with Visa to deepen its payments services in Somalia by going live with its acquiring business on the Visa platform. Through this partnership, IBS Bank will accelerate its banking services by accessing Visa’s global footprint to offer customers more convenient, secure and reliable ways to access and spend their funds. VisaNet, Visa’s centralised processing network will be utilised in Somalia to help facilitate the transfer of value and information among Visa’s client financial institutions, consumers, merchants, businesses and government in a faster, more reliable and more secure way.

Source: Africa Business Communities

Tanzania

TradeMark East Africa, Tanzania private sector ink USD1.2-million deal to boost country’s competitiveness

TradeMark East Africa (TMEA) and Tanzania Private Sector Foundation (TPSF) have signed a grant agreement to support Public Private Dialogue (PPD) in Tanzania. The three years grant amounting USD1,19-million is expected to end in June 2022. The grant is expected to improve sectoral dialogues amongst the private sector and between public and private sectors through with a specific focus on trade, logistics and transports, taxes, customs, standards, and Sanitary and Phytosanitary (SPS) with the aim of improving the business environment and attract investments in the country.

Source: Africa Business Communities

Zimbabwe

Vast Resources one step closer to mining diamonds in Zimbabwe

Vast Resources, the AIM-listed diamond mining company, has established a road map with all key stakeholders which will enable it to mine diamonds on the Heritage Concession in Zimbabwe. This follows meetings that took place in Harare between Vast Resources senior management, the local community leaders and the parastatal Zimbabwe Consolidated Diamond Company Ltd (ZCDC). The agreements concerning the Heritage Diamond Concession will now be directly between the company and the ZCDC rather than the local community, but the local community will be maintained as a beneficial recipient of shared profits as per the original agreement.

Source: Mining Review Africa