Thursday 19 April 2018
(Bloomberg 09/07/17)
African Rainbow Minerals Ltd., the miner chaired by South Africa’s richest black businessman, will pay a record dividend this year as rising iron-ore and manganese prices boosted earnings at its ferrous unit. ARM will pay investors 6.50 rand a share, almost triple that of the previous year, and its 11th consecutive dividend, the Johannesburg-based company said in a statement Thursday. The company benefited from a 45 percent increase in prices received for exported iron ore and 93 percent more for its manganese. While ARM is “confident in the long-term outlook for commodities,” the company said prices will “remain volatile” this year. The rand, in which ARM pays most of its costs, has strengthened against the dollar this year, reducing earnings...
(Bloomberg 09/05/17)
A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost a decade. Both economies had agriculture largely to thank: in South Africa, a bumper corn harvest following the worst drought in more than a century saw the sector surge 34 percent from the prior quarter, while in Nigeria, where farming vies with industries as the second-biggest contributor to...
( The Southern Times 09/04/17)
The Mozambican government has strongly condemned the attempt by Morocco to prevent a delegation from the Saharawi Arab Democratic Republic (SADR) from participating at last week’s Tokyo International Conference on African Development (TICAD) ministerial meeting in Maputo. On Thursday, the first day of the meeting, the Moroccan delegation, in full sight of journalists, attempted physically to stop the SADR delegation from entering the conference hall. An angry exchange between the two delegations degenerated into shoving and pushing, which was eventually broken up by security guards. A statement issued by the Mozambican Foreign Ministry put the blame for the incident on the shoulders of Morocco. It pointed out that the meeting had been jointly organised by the Japanese and Mozambican authorities...
(APA 09/04/17)
Mozambique's Ministry of Transport and Communications has set a 2018 target to start construction of a $2.7 billion coal export railway and port terminal project in the central region of the country, hoping to conclude it in the first quarter of 2021, APA can report on Monday. The head of the Ministry’s legal department, Luis Chauque, told APA in an interview that the government has picked Bangkok-based contractor Italian-Thai Development Pcl to construct the 537 km rail line, from the Moatize coal mines in Tete province to Macuse on the coast in Zambezia province. "The project forms part of ambitious plans made by Mozambique with foreign investment partners to become a major exporter of metallurgical and thermal coal to the...
(APA 09/04/17)
Amelia Macie’s childhood dream had been to become a secondary school teacher, but family poverty and the civil war which gripped Mozambique after independence shattered it all. Growing up in the Mafuaine village of Namaacha District, some 40 kilometres in the south-west of the capital, Maputo, the young woman, now 29, had to endure all the difficulties a rural girl-child is exposed to. Her parents were not employed and had no source of income, which means when her body could now handle it, she had to help them or even take over in duties like fetching food, water and firewood, as well as ensuring other daily family needs are catered for. “I only did my first year of primary education...
(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...

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