Wednesday 28 June 2017
(Business Day 09/06/13)
Multinational companies operating in Africa are hitting back at claims that government coffers are being eroded by deliberate intragroup mispricing and shifting of profits across borders to pay significantly less tax. Apart from a lack of clarity on what guidelines to use, reports of bribes to resolve tax disputes, poorly educated tax officials focusing only on their bonuses, and a lack of will to follow global guidelines are emerging. Governments are concerned that money they should be receiving is being diverted to other countries, which then receive the tax revenue. This is leading to major moves by tax authorities to ensure transactions between related companies or parties, such as employers and employees, are done at arm’s length. This means these...
(The Guardian 09/06/13)
Scheme could herald a 'green gold' revolution as mines commit to ban child labour, enforce safety rules and prevent toxic run off. In a bustling area of Nyarugusu, in the heart of Tanzania's gold lands, a stocky man is fanning a dustbin lid of smouldering charcoal, gold ore and mercury on the pavement. Each waft sends a cloud of toxic vapour into the faces of children and adults as they gather to watch. The burning of mercury is a common sight in the streets, homes and cottage-industry mines throughout east Africa. The liquid metal is used to extract the gold and then vaporised to leave behind flakes of the precious metal. But in this dangerous industry, seeds of a gold...
(Reuters (Eng) 09/05/13)
NEW YORK | (Reuters Health) - Despite concerns that iron supplements may increase children's risk of malaria in regions where it is common, a new study found kids in Ghana who received nutrient powder with iron were no more likely to get the disease than their peers. According the World Health Organization (WHO), there were approximately 660,000 deaths from malaria in 2010. About 90 percent of those occurred in Africa, most in children under five years old. Some studies have suggested giving children iron might increase their risk of malaria - including one trial that was halted early due to more hospitalizations for malaria and other infections among children receiving iron. The theory is that malaria-causing parasites can take up...
(Business Day 09/04/13)
AGGREKO, a London-listed provider of temporary power generation, along with South African project partner the Shanduka Group and the Southern African Power Pool (Sapp), has expanded output at its gas-fired power plant at Ressano Garcia, on the Mozambique-South Africa border, to 232MW. In March, the firm signed agreements with Mozambique national power utility Electricidade de Moçambique (EDM) and Namibia’s utility NamPower to supply an extra 122MW from the site. This helps alleviate a "critical shortage of energy" in the Southern African Development Community (Sadc). The region wants to lift energy output by 70% in the next 15 years, investing $170bn in power projects. Ressano Garcia is the world’s first interim cross-border independent power producer project. Aggreko sees significant growth in...
(Zambia Daily mail 09/04/13)
For Jacob Makambwe, trade is what earns him bread and butter for his family of six. Mr Makambwe, 38, lives in Lusaka, but trades in any part of the Southern African Development Community (SADC) where he finds business. He travels across borders, sometimes via Chirundu, Beit Bridge, Mwami or Nakonde-Tunduma ports. Currently, he has ordered 10,000 bags of soya beans from Malawi, which he hopes to bring into Zambia where demand for the product is high. South Africa, though is one of his regular destinations for orders and deliveries, it being the economic hub of the region. However, he feels doing business in SADC is not as easy as per commitment of regional leaders at their annual summits. Free movement...
(Haaretz 09/03/13)
Last week’s announcement that an agreement had been reached with an African country, later identified as Uganda, to accept African migrants from Israel was not only premature but far too optimistic in terms of the number of people likely to be involved, a senior government official said Monday. Haaretz has learned that the contacts with Uganda relate to the absorption of only a few hundred migrants, so even if an agreement is successfully concluded, its influence will be limited. According to the Population, Immigration and Border Authority, some 54,000 African migrants are now living in Israel, more than 90 percent of them Eritrean and Sudanese nationals. The initial announcement about an agreement with Uganda was made last week by Interior...
(Voice of America 09/03/13)
JOHANNESBURG — Journalists and South Africans have flocked to former South African president Nelson Mandela’s home in Johannesburg following his release Sunday from a Pretoria hospital. Mandela spent 85 days there after being admitted on June 8 for a recurring lung infection. While many South Africans are breathing a sigh of relief, some have questioned why the world icon was released despite the fact that his condition remains critical and at times unstable. Since Sundays’ announcement that the 95-year-old former president was allowed to return home from the Medi-Clinic Heart Hospital in Pretoria, social media have been flooded with congratulatory messages, and the story has made international headlines. The media that was entrenched for months outside the hospital now has...
(BBC News Africa 09/03/13)
The origins of human tuberculosis have been traced back to hunter-gatherer groups in Africa 70,000 years ago, an international team of scientists say. The research goes against common belief that TB originated in animals only 10,000 years ago and spread to humans. The work, published in Nature Genetics, outlines the strong relationship between the evolutionary history of both humans and TB. The disease causes more than one million deaths every year. Previous research has indicated that human TB originated about 10,000 years ago in Africa during the Neolithic Demographic Transition (NDT), when the human population was expanding and agriculture was becoming prominent. Researchers combined geographic and genetic data from 259 strains of TB to reconstruct its evolutionary history and compare...
(Bloomberg 09/03/13)
China’s smallest oil imports from West Africa in at least two years are curbing demand for tankers on the third-longest trade route, prolonging the worst rates in more than a decade for Frontline Ltd. and other owners. Chinese refiners will buy 28 percent less West African crude this month than a year earlier, the least in data starting in August 2011, according to loading plans and a Bloomberg News survey of eight traders. Shares of Frontline, which operates 32 very large crude carriers, will drop 38 percent in 12 months, the average of 14 analyst estimates compiled by Bloomberg shows. Those of Euronav SA, with 13 supertankers in its fleet, will retreat 24 percent, the forecasts show. Tanker owners are...
(Voice of America 09/02/13)
JOHANNESBURG — Former South African president Nelson Mandela has been discharged from Medi-clinic Heart Hospital in the country’s capital, Pretoria, where he spent close to three months being treated for a recurring lung infection. However, his health is said to remain critical and at times unstable, and his doctors will keep providing him with intensive care at his Johannesburg home. Thuso Khumalo has more from Johannesburg. A spokesman for South African President Jacob Zuma has confirmed that Mandela left the hospital Sunday morning. Presidential spokesperson Mac Maharaj says the anti-apartheid icon is now recovering at his home in the Johannesburg suburb of Houghton. Mandela had been hospitalized since June 8. Maharaj referred to Mandela using his clan name, Madiba. We...
(Reuters (Eng) 09/02/13)
LONDON, Sept 2 | Mon Sep 2, 2013 (Reuters) - Africa-focused mining and infrastructure firm IMIC said on Monday it signed an offtake agreement with Chinese group Hebei Iron and Steel for iron ore produced from the Nkout project in Cameroon, which IMIC is in the process of acquiring. Junior miner Afferro IMIC, which is allied with African Iron Ore Group, run by Afren Plc founder Bert Cooper, says it can build the infrastructure necessary to begin production at its project in Cameroon. IMIC said the offtake agreements will be used as a vital part of financing the project through Chinese partners such as Hebei - the largest steel producer in China. A similar offtake agreement was crucial to African...
(AFP 09/01/13)
JOHANNESBURG, September 1, 2013 (AFP) - South Africa's anti-apartheid icon Nelson Mandela was Sunday discharged from hospital where he has been treated since June 8 for a recurring respiratory illness, the presidency said. "Former President Nelson Mandela has this morning, 1 September 2013, been discharged from the Pretoria hospital where he has been receiving treatment," said a statement. It is said his condition "remains critical and is at times unstable." An ambulance with police escort was seen arriving at his suburban home, north of Johannesburg, shortly after 0900 GMT. Officials said the 95-year-old will receive the same intensive care from his Johannesburg home. "If there are health conditions that warrant another admission to hospital in future, this will be done."...
(AFP 08/31/13)
JOHANNESBURG, August 31, 2013 (AFP) - South Africa's presidency on Saturday denied reports that Nelson Mandela had been discharged from hospital and had returned to his Johannesburg home. "Madiba is still in hospital in Pretoria, and remains in a critical but stable condition," President Jacob Zuma's spokesman said in a statement, denying reports from several news organisations that he had left the facility. "At times his condition becomes unstable, but he responds to medical interventions." During Mandela's 80-plus days in hospital, the presidency through Maharaj has been the official source of information about the condition of the 95-year-old anti-apartheid icon. But updates have been infrequent and have offered few details, prompting frequent speculation. At the end of July, Zuma's office...
(Reuters (Eng) 08/30/13)
PERTH | Fri Aug 30, 2013 (Reuters) - Australia's Sundance Resources (SDL.AX) expects to bring its $4.7 billion iron ore project in West Africa online by early 2018, despite the collapse of a takeover by China's Hanlong Group in April that many expected to doom the project. Giulio Casello, chief executive of Sundance, told Reuters in an interview that the company is also aiming to finalize an equity partner for the project and have off take secured by the end of the year. By early next year, Sundance expects to have selected a contractor for the development. Investors saw little hope for the future of the project when the Hanlong deal fell through, but Sundance has said it was talking...
(Reuters (Eng) 08/30/13)
JERUSALEM | (Reuters) - Israel plans to soon begin deporting migrants from Eritrea and Sudan, who number more than 50,000, back to the African continent via Uganda, officials said. Israel regards most of these Africans as illegal visitors crowding impoverished areas in search of jobs, and largely rejects the position of human rights groups that many fled their countries in search of political asylum. A statement late on Thursday from Interior Minister Gideon Sa'ar said Israel would soon begin a staged process of deporting the migrants, most of whom crossed the border with neighboring Egypt - Israel's frontier with Africa - since 2006. Sa'ar said an agreement had been reached with an African country other than Eritrea and Sudan to...
(Ghana Business News 08/30/13)
Former UN Secretary-General Mr. Kofi Annan is calling for a link between tax authorities in Africa and global reforms to avoid tax evasion. According to the Ghanaian diplomat, African tax authorities suffer more among all regions struggling to prevent the erosion of tax bases. Mr. Annan made this known in an op-ed published by the Australian Financial Review ahead of G20 leaders’ commitment to discuss global tax reform when they meet in Russia next week. The op-ed was also on why Australia should work towards building a better mining partnership with Africa. “Tax authorities in all regions struggle to prevent the erosion of tax bases, but Africa struggles more than most,” Annan said. Mr. Annan stated “automatic information exchanges must...
(The Africa Report 08/30/13)
George Ferreira Vice-president and chief operating officer, Samsung Electronics Africa. Samsung Electronics is preparing to beat its $10bn target for revenue from Africa in 2015. And according to George Ferreira - Vice-president and chief operating officer of Samsung Africa - the company is also looking at the possibility of setting up more assembly plants to avoid tariff barriers. The Africa Report: Is South Africa still your biggest African market, and do you expect it to be so for the new Samsung Galaxy S4? George Ferreira: For the S4, I would say that the South African market is probably on par with the Nigerian market, although I foresee that the Nigerian market should probably overtake the South African market in terms...
(Reuters (Eng) 08/30/13)
MIAMI | (Reuters) - Florida officials trying to eradicate the Giant African Land Snail, one of the world's most destructive invasive species, plan to deploy a new weapon in the battle - Labrador retrievers. State agriculture authorities say they hope the dogs will add to their success in fighting an infestation of the slimy snails, which were first spotted by a homeowner nearly two years ago and quickly swept through the Miami area. On Wednesday, officials said that since the start of an aggressive extermination campaign they have collected 128,000 of the snails, which can grow as big as rats and devour plants as well as stucco and plaster in a hunt for calcium they need to grow their big...
(International Business Times 08/29/13)
Oil & Natural Gas Corporation Ltd. (NSE: ONGC), the state-controlled Indian oil and gas giant, announced Monday that will purchase an additional 10 percent stake in an offshore gas field in Mozambique from Anadarko Petroleum Corp. (NYSE: APC) of the U.S. for $2.64 billion. The property in question, Mozambique's offshore Rovuma Area 1, possess up to 65 trillion cubic feet of gas reserves which will be converted into liquid natural gas (LNG) for Indian markets. In June, ONGC and another Indian company, Oil India Ltd. (NSE: OIL), together purchased a 10 percent stake in the same block from Videocon Group, an Indian multinational firm, for $2.475 billion. “As a result of both transactions, [ONGC] will own a significant interest in...
(UKzambians 08/29/13)
Leaders from the UK’s African diaspora are being invited to join a powerful new network aimed at supporting sustainable development across the African continent. Working in collaboration with Comic Relief and Unbound Philanthropy, the Royal Society of Arts (RSA) aims to harness the power of the UK diaspora in order to combat persistent levels of poverty and unemployment among their communities in the UK and Africa. Over a period of more than a year, participants will be tasked with identifying and developing a ‘venture’ – business, social enterprise or project – that addresses a particular cause or issue they are passionate about. The new leadership programme will build on individuals’ knowledge and skills and add to the already extensive levels...

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