| Africatime
Friday 24 March 2017
(Agence Ecofin 03/20/17)
At the Africa CEO Forum which opened this morning in Geneva, AFD Group – in partnership with the European Union – unveiled the “African Renewable Energy Scale-Up facility”, designed to boost private sector investment in on–grid and off-grid renewable energy production in Africa. In order to meet Africa’s constantly increasing energy requirements, support must be provided for mass development of the renewable energy technologies – especially solar energy – that will play such a key role over the coming years, given the recent drop in prices and the emergence of new innovative business models. The EU’s electrification funding initiative, “ElectriFI”, helps to harness and stimulate private sector investment to enhance access to renewable energy. More...
(Voice of America 03/18/17)
Each year, the University of Southern California hosts the African Global Economic and Development Summit, bringing delegations from Africa to meet with business leaders, government officials and others in the U.S. But this year, the African summit has no Africans. All were denied visas. Visa issues are not uncommon for people traveling from African nations. During her prior three summits, Mary Flowers saw a high percentage of her attendees unable to attain visas. "Usually we get 40 percent that get rejected but the others come," said Flowers, chair of the African Global Economic and Development Summit. "This year it was 100 percent. Every delegation. And it was sad to see, because these people were so disheartened." Flowers estimated that she...
(The Namibian 03/17/17)
Refugees and former refugees are contributing positively to Zambia's economy, and have the potential to contribute further to the country's development if legal and other obstacles are removed, findings of a new study seen on Tuesday have shown. The study, conducted by researchers from the Institute of Economic and Social Research of the University of Zambia, in technical partnership with the Refugee Studies Centre, University of Oxford, from October last year to January this year, targeted refugees living at two...
(Bloomberg 03/16/17)
Zambia said its corn output may climb to more than 3 million metric tons this year, while the government will maintain an export ban until it receives crop estimates later this month. Agriculture Minister Dora Siliya said there were “initial indications” of the potential production figure, during a Thursday interview in the capital, Lusaka. Zambia will review its ban on exports of the staple food if the harvest survey due for completion by the end of March shows the country...
(The Wall Street Journal 03/15/17)
Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it How is innovation in Africa different from innovation in Silicon Valley? And how can innovation in Africa be encouraged? Dan Keeler, frontier-markets editor of The Wall Street Journal, discussed those questions with Khanyi Dhlomo, founder and chief executive of Ndalo Media, a publisher based in South Africa, and Ashish Thakkar, founder of Mara Group, a pan-African investment group with operations...
(Reuters (Eng) 03/13/17)
The United Arab Emirates, one of the Middle East's largest economies, wants to expand trade ties with faster growing nations in Asia and Africa, a senior official said on Sunday. Rich Gulf Arab states are looking at ways to diversify their economies, including who they trade with, after more than two years of depressed oil prices forced a rethink of government spending. The pace of economic growth in Asian and sub-Saharan African economies has made them ideal partners, Abdullah al-Saleh,...
(Bloomberg 03/08/17)
Zambia, the only southern African country to produce a corn surplus last year, may run out of storage space if a ban on exporting the grain isn’t lifted, according to local traders. The country will probably reap 3 million metric tons of its staple corn crop in the current season, according to the Grain Traders Association of Zambia. When that’s added to carry-over stocks remaining from last season, it’s unlikely the nation’s storage facilities will be sufficient, association President Chambuleni...
(Xinhuanet 03/06/17)
The Zambian government has invited bids for firms intending to implement its second Scaling Solar Project aimed at boosting energy availability, its investment firm said on Monday. The Industrial Development Corporation has invited the private sector for its second solar project after the success of the first project. The investment firm said in a notice that the second project will be for the development of between 150-250 megawatts of solar power plant. "The Industrial Development Corporation expects that, in addition...
(The Independent 03/06/17)
Th term was coined by sceptical officials, worried about the importance given to Commonwealth trade deals ahead of Brexit negotiations. Plans by government ministers to boost trade links with African Commonwealth countries are being internally branded “empire 2.0” by sceptical officials who are worried about the importance being placed on such deals ahead of the UK’s negotiations of leaving the European Union (EU). International Trade Secretary Liam Fox is expected to promise to build better links with the whole of...
(Lusaka Times 03/03/17)
Zambia has signed a €10 million financing agreement with the European Union (EU) to support the National Authorising Officer (NAO), who oversees the implementation of the European Development Fund (EDF). Through institutional strengthening of the NAO, who is the Secretary to the treasury, and corresponding line ministries, the financing will contribute to efficient and timely implementation of EU-funded projects and programmes. EU Ambassador to Zambia Alessandro Mariani said the grant under the 11th EDF and runs from 2014 to 2020 is part of a total financing of a total of €484 million. This is aimed at supporting Zambia’s national development plans with emphasis on energy, agriculture and governance.
(Lusaka Times 03/03/17)
Zambia has called for increased international cooperation to achieve sustainable transportation at national and regional level. Speaking at the World Bank’s briefing on the Sustainable Mobility for all Initiative in New York, Permanent Mission of the Republic of Zambia to the United Nations Chargé d’Affaires Ad Interim Ms. Christine Kalamwina said there was need to build momentum and synergies on the importance of sustainable transportation to complement national and regional efforts through improved cooperation. Ms. Kalamwina assured the World Bank...
(Bloomberg 03/03/17)
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star. It aims to raise...
(Lusaka Times 03/01/17)
Zambian Breweries has reduced the price of its Mosi and Castle lager amid growing confidence in economic stability. The recommended retail price of a 375ml bottle of both lagers is now K7, reduced from K7.50. Zambian Breweries Country Director Annabelle Degroot said the cut in price of the nation’s favourite beers was a response to the improved inflation rate and several months of a stable exchange rate. She thanked and commended the Government for implementing measures to allow this level...
(Zambia Reports 02/27/17)
Finance Minister Felix Mutati says the consultative process for the International Monetary Fund (IMF) supported program will soon be completed and presented to Cabinet in readiness for a team from the fund which will be coming to Zambia next month. The Minister was speaking to investors and British government officials at the Royal Institute of International Affairs, Chatham House, in London last evening. Mr. Mutati says the government is consulting various stakeholders in readiness for consideration by cabinet before IMF...
(Xinhuanet 02/23/17)
Zambia's year-on year inflation slowed down by 0.2 percentage points in February, its statistics agency said on Thursday. The annual inflation declined from 7.0 percent in January to 6.8 percent in February, according to the Central Statistical Office (CSO) monthly release. John Kalumbi, the director of the statistics agency attributed the decline to changes in non-food prices. However, monthly inflation remained unchanged at 1.2 percent, he added. On Wednesday, the country's central bank projected that the annual rate of inflation...
(Xinhuanet 02/22/17)
Africa Energy Indaba, the continent's premier energy event, kicked off in Johannesburg on Monday with the aim of finding solutions to the continent's energy future. The three-day conference is being attended by the governments' representatives, business and funders. The meeting seeks to unleash the continent's potential by coming up with an energy mix to develop Africa. Dr. Garth Strachan, Deputy Director General and Head of Gas Industrialization Unit in South Africa's Department of Trade and Industry said the recent discoveries...
(Xinhuanet 02/18/17)
Zambia recorded an increase in coal production in 2016 compared to the previous year, the ministry of mines said on Friday. The southern African nation saw coal production increasing to 126,050 tonnes in 2016 from 103,439 tons in 2015, representing a 21.9 percent increase, according to figures released by the Ministry of Mines and Minerals Development. The increase was due to the reopening of a coal mine, Column Coal Mine, in southern Zambia's Sinazongwe district, which commenced operations in August...
(AFP (eng) 02/15/17)
Sub-Saharan Africa, where more than a half billion people live without electricity, trails the world in government policies that promote sustainable energy, according to a new World Bank report Wednesday. Much of the rest of the world, however, has made strides toward making energy broadly available, developing renewable power sources and increasing efficiency, the inaugural Regulatory Indicators for Sustainable Energy report said. In a survey of 111 countries, the World Bank found that through 2015 nearly 80 percent had begun...
(Xinhuanet 02/10/17)
The Zambian government on Friday announced the start of a fish farming project aimed at boosting the production of fish for both local consumption and export. The Aquaculture Productivity and Market Enhancement project aims at achieving the target of producing 50,000 tons of fish per year in two years. Minister of Fisheries and Livestock Michael Katambo said the African Development Bank (AfDB) has pumped 50 million U.S. dollars into the project. Apart from producing fish for local consumption, the project...
(Reuters (Eng) 02/10/17)
Canada’s First Quantum Minerals plans to invest over $1-billion in a new smelter and modernisation of a copper mine in Zambia, a senior Zambian official said on Wednesday, but the company said the investment was “very conditional.” Zambia’s high commissioner (ambassador) to South Africa Emmanuel Mwamba told Reuters by telephone that First Quantum Minerals Chief Executive Officer Phillip Pascal had announced the investment on Wednesday when he met Zambian officials attending a mining conference in Cape Town. First Quantum planned...

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