African central bank leaders are currently discussing whether to hold the yuan as part of their foreign reserves, highlighting the Chinese money’s rise as one of the world’s major reserve currencies. Government officials from 14 African nations in eastern and southern Africa are meeting today (May 29) in the Zimbabwean capital Harare to discuss sovereign…
Details Foreign investment in sub-Saharan Africa’s power sector has reached a record-high. Spurred on by the United Nations’ goal to ensure modern energy access for all by 2030, international donors have focused on increasing the region’s electrification access. It currently stands at only 35%, significantly less than any other part of the world. The focus on electrification is illustrated…
Details New World Bank support and some improvements in performance underpin government claims that Abuja can turn around Nigeria’s dysfunctional electricity supply industry, but with gencos going to court to obtain full payments of their bills, the outlook remains difficult – even though the project pipeline recorded by African Energy Live Data offers some reasons for…
Details While the U.S. and China are trying to outdo each other with import tariffs and the U.K. wants to break away from the European Union, African leaders are working on a free-trade agreement that will cover a whole continent. Talks to establish the African Continental Free Trade Area started in 2015 and while many signatures…
Details South Africa’s National Treasury on Thursday rallied behind Dan Matjila, the chief executive of the government’s 2 trillion rand ($160 billion) state pension fund, dismissing a Bloomberg report that said it was considering his suspension. Matjila, who has headed the Public Investment Corporation (PIC) since 2014, has come under pressure in recent weeks after an…
Details Although Africa has recorded strong economic growth in recent years, and will continue to do so this year, its gains will remain fleeting until it undergoes a long-awaited transition away from commodity exports and toward manufacturing. That, in turn, will require leaders who are willing to put the economy before narrow political considerations. ABIDJAN –…
Details Kenya is set to open phase one of the US $108.6m Dongo Kundu bypass for public use by next week. This is according to KeNHA’s Coast Regional Director,Jared Makori. The bypass project which started in July 2016 is expected to decongest the Mombasa-Nairobi highway. The project runs from Mombasa Port’s second container terminal and links the…
Details South African state owned utilty Eskom Holdings SOC Ltd has signed a Power Purchase Agreement, PPA with Building Energy for the construction of the 147 MW wind farm in Roggeveld and a 4.7 MW mini hydroelectric plant in Free State which will see the overall investment in the construction of the two plants amounts to US $376 m. The…
Details Chief Executive Officer (CEO) of Stanbic IBTC Pension Managers Ltd. (SIPML) Mr Eric Fajemisin, said the firm invested 12.5 percent of its Assets Under Management (AUM) worth N2.53 trillion, representing N350 billion, into the Nigerian Stock Exchange (NSE). Speaking at a media parley in Lagos, Mr Fajemisin disclosed that the investment in equities comprised Mutual…
Details Tongaat Hulett aims to expand its business in Angola and other African nations that rely on sugar imports, in line with a strategy to bulk up in the central and southern region of the continent, the company said on Monday. The South African sugar producer said it had begun talks to expand its activities in…
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