Africa

Middle East, Africa to invest USD10-million in HVAC systems

The Middle East and Africa (MEA) region is expected to invest up to USD10.1-billion in heating, ventilation and air condition (HVAC) systems by 2024. the construction of green buildings, such as the King Abdullah Financial District in Saudi Arabia, is fuelling the demand for high-efficiency HVAC systems. Climate change is further increasing the average temperatures in the two regions such that HVAC systems are no longer luxuries but a necessity. In 2017, countries including Kuwait, Iran, and Iraq recorded the highest temperature of 54C! According to the Max Planck Institute for Chemistry, the summer temperature in the MEA region is slated to rise twice as fast as the global average.

Source: ESI Africa

Africa

Sahara Group looking to acquire Total’s stakes in three African refineries

Privately owned Sahara Group is looking to significantly increase its interests in Africa’s refining sector to take advantage of its trading of refined products in the continent, it's executive director said. Tope Shonubi, said on the sidelines of the African Refiners Association conference in Cape Town. Sahara is negotiating with Total to buy the French oil company’s stakes in refineries in Cameroon, Cote d’Ivoire and Senegal and it is also looking to take a controlling stake in Zambia’s only refinery, Shonubi said. Sahara, an Africa-based energy and infrastructure conglomerate, has interests in crude and oil products trading along with a growing business in the upstream midstream and refining business in Africa and Europe.

Source: Energy Mix Report

Africa

German company, Plutos Ventures, partners Ampion to launch seed capital fund for African startups

Africa-focused Ampion and Berlin-based Plutos Ventures Holding have together founded Ampion Ventures, the goal of which is to build scalable digital business models in selected African countries by providing seed capital and strategic expertise support. Plutos Ventures will provide Ampion Ventures with its first seed financing. Ampion Ventures is led by Fabian-Carlos Guhl. Guhl has been working for years on the African continent with founders and early-stage start-ups. Through his very successful start-up bus, with which he has travelled through more than 16 African countries and coached and supported founders in the development of digital business models, Guhl has been able to build up a large network of founders and start-ups in different African countries.

Source: African Business Communities

Botswana

Debswana will extend life of Botswana diamond production

The Debswana Diamond Company will commence the Cut-9 project to extend the life of Jwaneng Mine, one of the world’s most valuable diamond mines. The project will extend the life of Jwaneng Mine to 2035 and is expected to yield an estimated 53 million carats of rough diamonds from 44 Mt of treated material. Debswana will invest approximately USD2-billion over the life of the project underpinning the partnership’s commitment to the future of Botswana’s diamond industry. The shareholders of Debswana have approved the budget for 2019 so that the next phase of work can commence. At its peak, Cut-9 is expected to create more than 1,000 jobs, the majority of which will be held by Batswana citizens.

Source: Mining Review Africa

Burkina Faso

Nordgold expands investment in Burkina Faso

Nordgold has more than doubled capital expenditures in the development of its three mines in Burkina Faso. This equates to over USD145-million in 2018 from USD62-million in 2017, highlighting its status as one of the country’s largest gold producer, and a major economic contributor to the country and local communities. Nikolai Zelenski, CEO of Nordgold, says: “Since 2009, we have invested over USD1-billion into Burkina Faso. The launch of the Bouly mine in 2016 confirmed our position as the second largest gold producer in the country, with a total production of over 360 thousand ounces per year.” Capital expenditures included investments in exploration, development and maintenance, as well as capitalised stripping.

Source: Mining Review Africa

Cape Verde

Cape Verde signs air and tourism agreements with Angola, Portugal and Republic of Congo

Cape Verde has signed three agreements in the areas of air transport and tourism with Angola, Portugal and the Republic of Congo, on the sidelines of a ministerial conference on tourism and air transport in Africa on the Cape Verdean island of Sal. The Memorandum of Understanding with Angola, through the Minister of Tourism, Ângela Bragança, aims to strengthen cooperation in the field of tourism and develop actions to create business opportunities in this area and jointly explore the tourism potential of each State. With the Republic of Congo, the protocol that was signed by Minister José Gonçalves and his Congolese counterpart Fidel Dimou aims to promote the development of air transport between the two countries and beyond the respective territories and ensure the safety of international air transport.

Source: Macau Hub

Democratic Republic of Congo

Indian bank approves USD83.11-million for solar PV plants in DRC

Export-Import Bank of India (Exim Bank) has, on behalf of the government of India, extended three lines of credit totalling USD83.11-million to the government of the Democratic Republic of the Congo (DRC). The credit will be used to finance the installation of three solar PV power projects with a total capacity of 35MW in three provinces namely Karawa, Mbandaka and Lusambo. Projects covered under the credit extended to the government of the DRC include hydroelectric power projects, power transmission and distribution projects, cement plant, hand pumps and submersible pumps installation, and solar power projects. The DRC is among African countries that have not yet fully exploited the deployment of renewable energy particularly wind and solar.

Source: ESI Africa

Democratic Republic of Congo

AfDB approves USD20-million facility for Green Mini-Grid Program in DRC

The African Development Bank (AfDB) Board has approved the allocation of USD20-million in loans to the Democratic Republic of Congo, to support renewable-based mini-grid solutions to the off-grid cities of Isiro, Bumba and Genema. The DR Congo Green Mini-Grid Program will serve as the pilot to an innovative private-led electrification approach to deploy renewable-based mini-grid solutions in the central African nation. The program will supply power to cities with sizeable populations, some of them with a few hundred thousand inhabitants, without any access to modern energy. With limited grid coverage - around 10% nationally - many Congolese rely on kerosene or diesel fuel for their lamps, cookers and electricity generators.

Source: Africa Business Communities

Ghana/Kenya

Global Logistics Platform Kobo360 to Launch in Ghana and Kenya

Kobo360, the technology logistics platform, announced that it will expand operations into Accra, Ghana and Nairobi, Kenya. Backed by international and African investors, including International Finance Corporation [IFC], Y Combinator and TLcom, the move comes as Kobo360 seeks to build a global logistic operating system [G-LOS] that will power trade and commerce across Africa and Emerging Markets. The company is currently rolling out a beta operation in Ghana, recording over 100 trips and collaborating with clients such Olam Ghana, and expects to test the Kenyan market further, in the coming weeks where the team will meet with drivers and equip them with the tools they need to run trips effectively, while also imbing our culture and brand affinity with the supply chain.

Source: Africa Business Communities

Guinea

Orange Guinea acquires its 4G license, comforting its leadership

Orange Guinea is increasing the pressure on its local competitors MTN and Cellcom. The operator acquired a 4G licence thus becoming the pioneer of this technology in the country. By acquiring its 4G licence at USD90-million, Orange Guinea also renewed its 2G and 3G licences now valid for ten more years. In the license agreements, the operator is required to cover every region with 2G and 3G networks and at least 90% of the population with the 4G. With the 4G, Orange is taking a strong leap ahead of MTN, and Cellcom that only offers 3G+. The new technology should let Orange boost its leadership in the local telecom market where it already has 63% of market share.

Source: Ecofin Agency

Ivory Coast

AfDB, KfW partner to implement electricity regulatory index for Ivory Coast

The African Development Bank and KfW Development Bank will be partnering to accelerate implementation of recommendations contained in the 2018 Electricity Regulators Index (ERI) report for Côte d’Ivoire’s energy sector. This partnership arrangement between both institutions was announced during a technical workshop hosted by the African Development Bank in Abidjan. KfW is a German state-owned development bank. The workshop brought together key stakeholders in Côte d’Ivoire’s energy sector to review institutional and regulatory developments and assess implementation of recommendations in the inaugural 2018 ERI report.

Source: Energy Mix Report

Madagascar

Tirupati Graphite commences production at Madagascar plant

Tirupati Graphite, the flake-graphite company with primary mining and processing projects in Madagascar and downstream processing projects in India, has announced the commissioning of a 3,000 tpa plant at the Sahamamy Project. This the first of six planned flake-graphite production plant modules to be built in Madagascar. This is a major milestone in the Tirupati Graphite’s development as it rolls out the first production and looks to build its operations to an integrated graphite mining, production and processing company. This is a major milestone in the Tirupati Graphite’s development as it rolls out the first production and looks to build its operations to an integrated graphite mining, production and processing company.

Source: Mining Review Africa

Mozambique

Mozambique’s ENH will receive state guarantee to issue Eurobonds

The Mozambican government will grant a State endorsement on the issue of Eurobonds by oil company ENH in order to guarantee its participation in natural gas projects, the Economist Intelligence Unit (EIU) reported. EIU analysts also said that the continuing crisis of so-called hidden debts will not prevent the granting of a new state guarantee, this time to ensure the participation of that public company in the projects of the Rovuma basin. State guarantees granted by the former government of President Armando Emílio Guebuza on two loans to two public companies – Mozambique Asset Management and ProIndicus – flouted Mozambican laws.

Source: Macau Hub

Nigeria

OneFi aquires fintech company, Amplify

Amplified Payments, a fintech company that builds and facilitates payment solutions and digital financial transactions in Nigeria, has been acquired One Finance (OneFi). The deal, completed for an undisclosed fee and sees OneFi boost its financial services offering, as the company adds Amplify’s assets, tradements and flagship products, AmplifyPay and mTransfers, to its growing portfolio. Conceived in 2015 by co-founders Segun Adeyemi and Maxwell Obi, who first met as Entrepreneurs-in-Training at MEST Africa’s Entrepreneurial Training Program in Accra, Ghana, Amplify has scaled quickly to become one of Nigeria’s leading online recurring payment processors, supporting over 1,000 merchants and facilitating digital transactions for four of the country’s largest banks.

Source: African Business Communities

Nigeria

Axxela inaugurates greater Lagos IV gas pipeline network

Axxela Limited has officially commissioned its Greater Lagos IV (GLIV) gas pipeline network and the newly renovated Elegbata Sports Complex. Greater Lagos IV (GLIV) is Axxela’s gas pipeline network, developed by its Gaslink Nigeria Limited subsidiary in partnership with the Nigerian Gas Marketing Company (“NGMC”). Spanning from Ijora through Lagos Island’s Marina axis, the USD30-million pipeline will supply gas to commercial and industrial off-takers along its route, and already has First Power and Island Power amongst its customers. This project is a welcome development for denizens of Elegbata which signifies the many possibilities that abound from public and private partnerships and the significance of sports in the community.

Source: Energy Mix Report

Nigeria

NNPC pledges commitment to Train 7 project, other gas developments

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has expressed the corporation’s commitment to support any project that would encourage production and utilisation of natural gas for the benefit of the nation. Disclosing this recently at the signing ceremony of the Nigeria Liquefied Natural Gas Limited (NLNG) Train 7, Nigerian Content Plan, Dr. Baru, said the signing ceremony was important as one of the major processes to bring the Train 7 project on board. Bringing the gas to this Train 7 would involve a robust gathering system that will connect trunk lines from offshore to the hinterland, looking beyond NLNG to domestic market, which will open up a flexible system that allows us to swing gas either way, depending on need.

Source: Energy Mic Report

Nigeria

IFC, Africa RE to develop new insurance market for Nigeria farmers

IFC, a member of the World Bank Group, has announced that it has signed an agreement with Africa RE, a pan-African reinsurance company headquartered in Nigeria, to help thousands of smallholder Nigerian farmers more easily access insurance to protect their crops and livelihoods. Under the agreement, Africa RE and IFC’s Global Index Insurance Facility will help Nigerian insurance companies licensed by Nigeria’s insurance regulator, NAICOM, develop agricultural insurance products, and deepen their index insurance business lines. These index insurance products will help protect farmers against environmental risks such as drought, floods, erratic rainfall, and other natural hazards.

Source: Africa Business Communities

Rwanda

Rwanda’s anchor sectors receive USD33-million from European Investment Bank

The European Investment Bank, the long-term lending institution of the European Union, and Bank of Kigali have agreed their largest ever cooperation to support new business investment across Rwanda. Under the agreement, the European Investment Bank will provide USD33-million, to support investment by Rwandan firms engaged in a range of productive sectors from agriculture, transport, education, health, manufacturing and tourism investment. This credit line will address the need for longer-term business funding, essential to accelerate economic growth, creating skilled jobs, increasing export revenues and improving tax revenues for national socio-economic development.

Source: Africa Business Communities

South Sudan

African Development Bank, ATI support leads to USD27.62-million in commercial risk insurance cover

South Sudan has realised a record USD27.62-million in commercial risk insurance cover through the efforts of the South Sudan government, the African Development Bank and the Africa Trade Insurance Agency (ATI). ATI has, to date, provided gross risk cover to facilitate investments in the electricity, gas, water supply and financial and insurance sectors. South Sudan is also expected to benefit from a USD100-million trade facility from the Trade and Development Bank (TDB). The facility will focus on strategic commodities, budgetary support and other essential co-imports. It will comprise USD60-million in hard currency and USD40-million for spare parts, food, pharmaceuticals and refined products. About USD5-million has been ring-fenced for solar energy at rural clinics and police stations.

Source: Ecofin Agency

Sudan/South Sudan

Sudan, South Sudan discuss further oil cooperation

The Minister of Oil and Gas Eng. Yagoub Adam Bashir has affirmed the continuity of cooperation between the two countries in the re-pumping of oil from the fields of southern Sudan and to accelerate its pace. This came during a meeting with the Ambassador of Southern Sudan; in the presence of the Under-Secretary-General and the Director General of Oil Exploration and Production. The meeting discussed arrangements for the second phase of pumping oil in the fields of Southern Sudan, touching on the activation of the agreements of training southern cadres at the oil training center in Khartoum. The minister called for consolidating the meanings of peace and improvement of the working environment in the border between the two countries and enhancing cooperation in joint interests.

Source: Energy Mix Report

Uganda

Raxio Data Centre Ltd kicks-off the construction of multi-million data centre

Ugandan Raxio Data Centre Ltd has launched the construction of its multi-million dollar data centre at the Namanve Industrial and Business Park in Mukono, Uganda. In that regard, it commissioned Roko Construction Limited for civil engineering works. The infrastructure designed by UK-based Future-tech and Symbion Uganda should be operational by the end of the first semester this year. It will let local firms and institutions save their data locally thus reducing hosting costs thanks to the more than 400 racks data centre. Raxio Data Centre Ltd has already been pitched by Oracle Corporation that wishes to offer its high-end cloud services and IT infrastructures.

Source: Ecofin Agency

Uganda

Kampala edges 12 African Cities to claim lead role in the Africa Smart Towns Network

Kampala City has been selected as the lead among the 12 African cities in the Africa Smart Towns Network (ASToN) following a competitive submission to the call for applications organized by the French Development Agency (AFD). KCCA has placed strong emphasis on automation of processes in service delivery like the Revenue Management System (e-Citie), Smart Permits, Traffic Control Centre, Digital Communication among others. Just last November, KCCA signed a collaboration agreement with the Government of Korea to facilitate knowledge sharing and provide a platform to enhance E-Government (ICT) Systems aimed at improving Urban Administration, effectiveness and efficiency in Public Service and information delivery.

Source: Africa Business Communities

West Africa

AfDB approves EUR12.5-million investment in West Africa

The Board of the African Development Bank (AfDB) has approved a EUR12.5-million equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in Francophone West Africa. With a target fund size of EUR75-million, the Fund will take minority stakes in SMEs that are well established in their markets, have a competitive advantage and can rapidly scale up. The geographical focus of the Fund will be on a handful of countries where economic prospects, and the Fund’s networks, result in opportunities. Average deal size for the Fund will range from EUR3-million to EUR8-million.

Source: Africa Business Communities