Friday 17 November 2017
(Bloomberg 09/04/17)
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter. Official data on Tuesday will probably show South Africa’s economy expanded in the three months through June, ending its second recession in less than a decade. Nigeria’s gross domestic product probably grew from a year earlier, and came out of its worst slump in a quarter of a century. South Africa and Nigeria together account for almost half of sub-Saharan Africa’s GDP and their recoveries may boost trade and production across the region. The reasons differ: while Nigeria, the continent’s biggest oil producer, is benefiting from a rebound in crude output, stronger retail sales may help drive growth in...
(Xinhuanet 08/31/17)
Cooperation between China and Africa has seen remarkable progress in renewable energy, showing the determination of developing countries to harness the huge potential of clean energy and combat climate change. China-Africa Renewable Energy Cooperation and Innovation Alliance, a coalition of financing institutions, smart grid providers and core manufacturers, on Thursday signed a Memorandum of Understanding (MOU) on cooperation with Africa Renewable Energy Initiative (AREI). "Africa has the highest potential for renewable energy, but the least access to it," said Seyni Nafo, chairman of AREI endorsed by the African Union Assembly. The MOU will enable the two parties to cooperate in renewable energy generation in Africa, with Chinese smart grid providers and core renewable energy manufacturers providing technological and financial support...
(Macauhub 08/30/17)
The feasibility of setting up the National Development Fund in Mozambique is currently being studied by the Economy and Finance Ministry and a proposal should be submitted to the Council of Ministers before the end of the year, the respective minister stated on Tuesday in Maputo. Various funds already exist in Mozambique, said Minister Adriano Maleiane, cited by the newspaper O País. He added that it was “important to understand how they can be coordinated in order to have a fund on national scale that can finance projects.” Maleiane guaranteed that the proposal to set up that fund, which will be maintained by revenue from the application of capital gains tax, will be taken to the Council of Ministers before...
(Macauhub 08/30/17)
The Maputo International Fair is a singular opportunity to enhance cooperation between Mozambique and other countries, said President Filipe Nyusi when opening of the country’s top trade fair on Monday. Nyusi used the occasion to address small and medium sized enterprises (SMEs), urging their directors to seek contacts with foreign companies present at the fair with a view to exporting more Mozambican products. He highlighted the SMEs’ role in the process of diversifying the economy, stating that the fair was “one more opportunity to expand the market and the reach of national products, internationalise the Mozambican economy, showcase production potentials and increase export diversity.” “We hope that at this year’s FACIM SMEs can identify and achieve partnerships with quantitative and...
(Macauhub 08/30/17)
The 53rd Maputo International Fair (FACIM), Mozambique’s biggest business fair, runs from today until 3 September, counting the participation of 1,940 national companies, 540 foreign ones and 26 countries, with Belarus attending for the first time, reports the Mozambican press. Besides Portugal, Germany, Brazil and the United Kingdom, usually with high numbers of participants, Angola will this year be represented by six companies from the construction, services and industry sectors. The head of Angola’s Agency for Promotion of Investment and Exports (Apiex), Belarmino Van-Dúnem, said on Saturday in Luanda, before leaving for Maputo, that Angola’s participation in the event was important “because it will help publicise the country’s name and enable entrepreneurs to contact colleagues from other countries and eventually...
(Bloomberg 08/30/17)
One Thousand & One Voices LLC, a private-equity fund started by the great-grandson of the founder of Coors Brewing Co., said it bought a producer of sushi-quality trout that is the largest such facility in Africa. SanLei’s operations are on the Katse Dam in Lesotho, an enclave surrounded by South Africa, 1K1V, as the fund is known, said in an emailed statement Tuesday. The company didn’t disclose the value of the transaction. SanLei has secured a marketing and distribution agreement with CGC Japan Co., which has more than 4,000 stores and collective revenue of more than $40.5 billion, making it Japan’s largest joint-procurement supermarket chain, 1K1V said. The fund has been hunting for private-equity investments that tap Africa’s growing consumer...
(Reuters (Eng) 08/29/17)
Europe’s “big four” continental powers and three African states agreed a plan on Monday to tackle illegal human trafficking and support nations struggling to contain the flow of people across the desert and Mediterranean sea. The 28-nation European Union has long struggled to reach a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. After hosting the leaders of Germany, Italy, Spain, Chad, Niger and Libya, French President Emmanuel Macron said it was time for greater coordination. “We must all act together - from the source countries to Europe and passing by the transit countries, especially Libya - to be efficient,”...
(Reuters (Eng) 08/28/17)
Getting Europe’s migrant crisis under control will be in focus at a summit of Europe’s “big four” continental powers and three African nations in Paris on Monday, with French President Emmanuel Macron seeking concrete action. The 28-nation European Union has struggled to agree on a coherent answer to the influx of migrants fleeing war, poverty and political upheaval in the Middle East and Africa, and the crisis is testing cooperation between member states. Over the summer, Macron sought to take the initiative on managing the flow of migrants crossing the Mediterranean from Libya, mainly into Italy. He proposed hotspots in Africa to handle asylum requests. The viability of such centers was questioned by European and African allies and on Monday...
(The Citizen 08/25/17)
The Presidency says the two countries enjoy ‘excellent’ bilateral relations which date back to the liberation struggle. President Jacob Zuma is expected to attend the second session of the South Africa-Mozambique Bi-National Commission (BNC) on Friday, in the Mozambican capital Maputo. Zuma will co-chair the BNC with Mozambican President Filipe Nyusi. He arrived in Maputo on Thursday night. “The BNC is the highest mechanism governing bilateral relations between the two countries. The Agreement establishing the BNC was signed on 13 December 2011, and the inaugural Session took place in October 2015,” the Presidency said.
(APA 08/25/17)
Mozambique's government has secured $18 million for the electrification of four districts in the central provinces of Zambézia and Tete within the framework of implementation of the national grid extension programme, APA can report on Friday. This was revealed by the Minister of Mineral Resources and Energy, Letícia Klemens, in a brief interview with APA shortly after returning from a visit to the two provinces. The districts to be covered are Luabo, Mulevala and Derre, in Zambézia province, and Doa in Tete, all located in the Zambezi Valley. "The extension of the national electricity grid to the districts of Luabo, Mulevala, Derre and Doa will constitute a driving force for boosting the economic and social development of these points rich...
(Xinhuanet 08/25/17)
The Angolan and Mozambique are playing this Friday in the quarterfinals of the ongoing FIBA Women's AfroBasket 2017 in the Malian capital of Bamako. The Angolan women finished unbeaten in the group stage with five wins, hoping to extend their winning streak and qualify for the semifinals with an eye on the final and ultimately the crown like they did six years ago in Bamako. En route to the elimination stage, the Angolans finished in the top position of group A with 10 points, following their five victories against Cameroon (78-56), Mali (68-59), Tunisia (62-55) Cote d'Ivoire 70-62) and CAR (96-58). While Mozambique placed in fourth in Group B with seven points, as result of three defeats to Nigeria (69-80),...
(Bloomberg 08/24/17)
Every African nation that’s sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market. The average yield on sovereign Eurobonds in Africa has hovered near the lowest level in two years this month, according to a Standard Bank Group Ltd. index, even after Moody’s Investors Service cut Namibia to below investment grade on Aug. 11. The world’s biggest producer of marine diamonds had been the continent’s only dollar-bond issuer without a junk rating. A low interest rate environment in the developed world has encouraged investors to look past the problems plaguing African economies, including low commodity prices, dollar shortages in some of them and rising political tension...
(Reuters (Eng) 08/23/17)
Mozambique’s government plans to set up a sovereign investment fund where taxes paid on sales of the country’s minerals will be used to finance development projects, state-run AIM news agency said on Monday quoting the finance minister. Minister of Economy and Finance Adriano Maleiane said the new fund would have capital gains taxes paid on the sales of shares in the country’s mineral resources as the main source of funding. AIM reported that the first money to go into the fund would likely be the $350 million in capital gains tax to be paid on the sale by Italian energy company ENI to the U.S. oil and gas giant ExxonMobil. In June ENI signed an $8 billion deal with government...
(Macau Daily Times 08/23/17)
Mozambique will host the Tokyo International Conference on African Development (TICAD) from today to Friday, an event that will be attended by foreign ministers, among other government officials, the Mozambican press reported. The meeting, which is taking place for the first time in Mozambique, has already confirmed the participation of 31 African ministers, including 24 Ministers for Foreign Affairs, seven other ministers and vice ministers, according to the Mozambican Minister of Foreign Affairs and Cooperation, Oldemiro Balói. The Minister said that TICAD is an opportunity to showcase cooperation between Japan and African countries, with the opening session due to be inaugurated by the President of Mozambique. The Mozambican delegation at the meeting will take the opportunity to reveal the result...
(Xinhuanet 08/23/17)
China is dedicated to enhancing its cooperation with Africa in human resource development through knowledge and technology transfer, a Chinese diplomat said Tuesday. Liu Tao, Charge d'Affaires of the Chinese Embassy in Ethiopia, made the remarks at the Chinese Government Training Program Fellowship Reception in Ethiopia's capital Addis Ababa. He said China, since the year 2000, has sent over 2,000 agricultural experts and over 7,000 medical personnel to Africa, and has trained more than 80,000 Africans from more than 50 countries. China has pledged that it would, in three years, train 200,000 technicians and provide 40,000 training opportunities in China, and will offer 30,000 government scholarships, he said. Stating that 1,100 Ethiopian candidates are invited this year to attend short-term...
(APA 08/22/17)
The Mozambican government has revealed plans to set up a sovereign fund for reserves needed to finance development which will benefit the economy and citizens. The Minister of Finance and Economy, Adriano Maleiane told APA in an interview Monday that the new fund, to be known as the National Development Fund (FND), will source funding from the capital gains tax paid on the sales of shares in the country’s mineral resources. "The FND is to finance good initiatives, but which need capital to begin. "This fund will be fed in the same way that other countries feed their sovereign funds and as a government, what we are arguing is that when we receive such added value from capital gains, the...
(AfricaNews 08/22/17)
Former Mozambican President Joaquim Chissano has congratulated retiring Angolan President José Eduardo dos Santos for deciding to bow out as president. Chissano, who served the Portuguese-speaking country between 1986 to 2005, said the decision to retire was timely especially in an economically viable period. “He made the decision because he thought it was a good time for the Angolans. I also did the same when I was convinced it was time to retire,” he said on Monday in the Angolan capital Luanda after a meeting with the head of the electoral commission. “President José Eduardo dos Santos deserves all the praise, because he turned a country ruined by war into a prosperous nation, introducing, in time, the necessary reforms, especially...
(Xinhuanet 08/22/17)
African officials on Monday called for urgent infrastructural development and regional integration to boost the continent's economy. At the Infrastructure Africa 2017 in Johannesburg, Zambian Minister of Finance Felix Mutati encouraged Africans to speedily address infrastructural deficit. "We have to inject some sense of urgency in ourselves. If we remain captured by business as usual, we are headed for disaster," said Mutati at the opening ceremony of the two-day event. "Competitiveness in Africa is being constrained by infrastructure deficit. We need about 93 billion U.S. dollars every year to address the infrastructure gap in the continent. We need to urgently implement projects," he said. Mutati said Africa has to narrow focus to innovative financing and design, better use of existing...
(Bloomberg 08/21/17)
GreenWish Partners, a renewable energy company run by a former Morgan Stanley executive, is planning to invest $800 million on solar-powered telecommunications towers across Africa. The project could fuel economic growth by providing power for essential services. Sub-Saharan Africa has the lowest rates of energy access in the world and is home to about half of the world’s 1.2 billion people without reliable electricity, according to the International Energy Agency. The problem extends to businesses as well as households, cutting into productivity and growth. “We reduce the total cost of power by 30 percent,” said Charlotte Aubin-Kalaidjian, the founder and chief executive officer of GreenWish, who was formerly a managing director at Morgan Stanley Investment Management. “Smaller towers can run...
(Agence Ecofin 08/18/17)
Port-Louis, Mauritius’ capital, plans to start exploiting 20,000 ha of agricultural lands it took since 1999 from Mozambique, local website Le Défi média group reported. The lands could not be put to use since due to accessibility issues. An obstacle that has been removed according to Mauritian High Commissioner in Mozambique. “Until recently, one had to cross the Incomati River by boat to access the site. However, about fourth months ago, the bridge promised by Mozambique’s authorities was finally built, thus making the lands accessible,” the website indicates. “I was able to visit the site recently. We ordered for cadaster to get an exact map of the area whose lease we had. We also asked for missing documentation then launched...

Pages