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Africa Business in Brief

 

issue 320 | 02 Sep 2019

Africa

WHO and Africa CDC agree on joint actions to improve health security in Africa

The World Health Organization (WHO) and the African Union Commission (AUC) through its Africa Centres for Disease Control and Prevention (Africa CDC) have signed an agreement outlining clear mechanisms for collaboration that will enhance the synergies between the two entities. The agreement endorses an action plan which aims to identify key areas for cooperation with particular emphasis on emergency preparedness and response, and health security in the overall context of health systems strengthening. A joint task force with five technical working groups will guide the efforts in the areas of partnerships and resource mobilisation, monitoring the progress in implementing International Health Regulations, public health emergency preparedness and response; strengthening surveillance and laboratory capacities and antimicrobial resistance.

Source: Africa Business Communities

Africa

UNIDO, FAO launch initiative to accelerate Africa youth employment in agriculture

The United Nations Industrial Development Organization (UNIDO), the Food and Agriculture Organization of the United Nations (FAO) and the African Union (AU), together with numerous additional partners, have launched the Flagship Initiative to Accelerate Youth Employment in Agriculture and Agribusiness in Africa. The main focus of the initiative is to provide technical assistance, capacity development and knowledge exchange to youth enterprises by prioritizing agricultural value chains.

Source: Africa Business Communities

Africa

Japan announces plans to double Africa’s rice production by 2030

Japanese Prime Minister Shinzo Abe made an announcement at the Sasakawa Africa Association (SAA) symposium held during the Tokyo International Conference on African Development that The Sasakawa Association will work with the Japan International Cooperation Agency (JICA), to help double Africa's rice production to 50 million tonnes by 2030. The minister went on to say, “Japanese technology can play a key role in innovation which is key to agriculture”.

Source: Africa Business Communities

Africa

Afreximbank signs deal with MUFG Bank to strengthen financing cooperation in Africa

A Memorandum of Understanding (MoU) has been signed by the African Export-Import Bank (Afreximbank) and MUFG Bank. The MoU aims to provide a broad framework for collaboration between the two entities as well as allowing for increased cooperation across Africa through the joint financing of transactions in corporate, project, and sovereign financing, as well as enhancing the Trade Finance offering of both organisations.

Source: Africa Business Communities

Angola

Japanese bank JBIC discusses project financing with the Angolan government

The Angolan government and the Japanese Bank for International Cooperation (JBIC) have signed a document that frames bilateral negotiations to fund projects worth USD400-million in Angolan territory. The meeting took place at Yokohama, Japan on the sidelines of the Tokyo International Conference on African Development 2019 (TICAD). The Angolan Finance Minister, Archer Mangueira, said that the meeting with the Japanese public bank also served to discuss unfunded projects in the fields of water, energy, construction and road repairs.

Source: Macauhub

Angola

Angolan government prepares change of legal framework for property taxation

The Angolan government is said to introduce changes to property taxation through the introduction of a single code aimed at bringing together taxation on ownership and transfers into a single legal instrument, a technician from the General Tax Administration. The proposal of the bill under public consultation, was presented to agents linked to the real estate market by the General Tax Administration (AGT), justifying the need for its amendment due to mismatches in its concepts, compared to the social and economic reality of the country.

Source: Macauhub

Equatorial Guinea

Noble Energy discovers oil in Equatorial Guinea

Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH) has recently announced that U.S. oil and gas company, Noble Energy, has made a discovery in offshore Block I. The Country’s Minister of Mines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, as said, “We are excited to announce this discovery which could not have come at a more opportune time. We have been dedicated to developing our resources to build a better economy and create opportunities for our people and, it seems we are gaining momentum,”

Source: Africa Business Communities

Eswatini

Coca-Cola Beverages Africa acquires majority stake in Eswatini Beverages

Coca-Cola Beverages Africa (CCBA) has announced that it has acquired a 60% share in the soft drinks business of Eswatini Beverages Limited (ECCB). The remaining 40% of ECCB is owned by Tibiyo Taka Ngwane. According to Sanele Khumalo, country manager of ECCB, this move aims to expand the company’s African footprint and bring huge benefits to local consumers and businesses. The deal was signed off on the 5 October 2018.

Source: Africa Business Communities

Kenya

Kenya to host Africa’s first large scale hybrid wind project

The Kenyan Investment Authority and Meru County Government have entered into a Memorandum of Understanding (MoU) with developers Windlab and Eurus Energy to develop “Africa’s first large scale hybrid wind, solar PV, and battery storage project” called the Meru County Energy Park.  The project will provide up to 80MW of clean, sustainable renewable energy, consisting of up to 20 wind turbines and more than 40,000 solar panels. The project is expected to commence construction in 2021 and Meru County will continue to own part of the project when operational.

Source: ESI Africa

Mozambique

Indian group BPCL plans to build terminal to receive natural gas from Mozambique

Bharat Petroleum Corporation Limited (BPCL) issued a statement stating their interest in building a terminal to receive liquefied natural gas (LNG) at the port of Krishnapatnam in Andhra Pradesh state. The statement went on to say that the LNG floating storage regasification unit (FSRU) LNG terminal, after switching from liquid to gas, will require an estimated investment of USD240-million. The project will be carried out through a partnership with the Petronet LNG, in which the state group will have a controlling interest of 74%, with an initial capacity of 1 million tonnes per year, with phased increases to three million and five million tonnes per year.

Source: Macauhub

Mozambique

Mozambique Tax Administration expects to collect USD12-billion in tax per year from natural gas projects

According to an AT Maputo official, the Mozambican government expects to collect USD12-billion a year in taxes from natural gas exploration projects in the Rovuma basin in the period from 2037 to 2045. Aníbal Mbalango, general coordinator for taxation of the extractive industry at the AT, told a conference on the theme of natural gas and the economic transformation of the country that the amount mentioned is a forecast for operational purposes only, calculated based on internationally established standards, taking into account neither the country’s fiscal scenario nor Mozambique’s economic growth indicators.

Source: Macauhub

Mozambique

Mozambique signs financing agreements for Temane-Maputo power transmission line

The Mozambican press has reported that the government of Mozambique and various foreign institutions have signed off on financing contracts to the value of USD506.7-million for the Temane-Maputo electricity transmission project. The project is the construction of a 563-kilometre transmission line project from Temane to Maputo, which stretches over a distance of 563km. It is part of the natural gas-fired Temane Thermal Power Plant with capacity to produce 400 megawatts, the largest in the country following independence, costing an estimated USD1.3-billion. The construction of the line scheduled to start in the first half of 2020 and completed by the end of 2023.

Source: Macauhub

Mozambique

USA bank wants to fund a natural gas project in Mozambique

According to a statement issued in Washington, the US Export and Import Bank will notify congress of a loan estimated at USD5-billion to support the export of goods and services for the development and construction of the liquefied natural gas project located in the Afungi peninsula in the Cabo Delgado province of northern Mozambique. If the loan receives approval, it will support US exports of goods and services for the engineering and construction of a liquefied natural gas plant and its facilities.

Source: Macauhub

Mozambique

Japan lends USD44-million to Mozambique for Maputo power station

An agreement has been signed between the Japanese and Mozambique governments where the Japanese government granted a USD44-million loan to Mozambique to make projects for the Maputo Thermoelectric Power Plant (CTM) viable. According to a statement, the loan will allow for a long-term maintenance contract and make it possible to continue maintenance and proper management by verifying correct cycle measurement, the supply of spare parts and transfer of technologies through joint work at the plant.

Source: Macauhub

Mozambique

Chinese companies start importing agricultural products from Mozambique in 2020

The President of Mozambique, Filipe Nyusi, has announced that Chinese companies will import 60,000 tonnes of tobacco produced in Mozambique per year from 2020, effectively making China the second-largest importer of this cash crop. In addition to this, Chinese companies are said to import an estimated 15,000 tonnes of macadamia nuts, 30,000 tonnes of cashews, 150,000 tonnes of sesame and 200,000 tonnes of Boer beans from 2020.

Source: Macauhub

São Tomé and Principe

Ceiba Intercontinental replaces euroAtlantic as São Tomé and Príncipe airline

According to São Tomé and Principe’s Minister for Public Works, Infrastructure, Natural Resources and Environment, Equatorial Guinea’s Ceiba Intercontinental airline is São Tomé and Principe Airways’ new partner, replacing Portugal’s euroAtlantic. The minister explained that the memorandum signed in Malabo, capital of Equatorial Guinea, by the chairman of STP Airways, António Aguiar, stipulates that Ceiba Intercontinental “will provide airplanes to the national airline, which will be operated by White Airways,” the Portuguese airline that is already the operator of Ceiba Intercontinental flights, as it is on the European Union blacklist and cannot fly to Europe.

Source: Macauhub

Zimbabwe

Hwange Unit 5 is back online, boosting Zimbabwe’s power supply

Zimbabwe’s power supply has been significantly boosted following the completion of repairs of Unit 5 at Hwange Power Station, enabling the unit to add 160MW to the grid. Zimbabwe’s Energy Minister, Fortune Chasi confirmed the development on social media. He added that the Unit 6 will be opened up for inspection during the first week of September for fault diagnostics.

Source: ESI-Africa