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Namibia has best roads in sub-Saharan Africa, with South Africa scoring on par with Rwanda, Mauritius

By: Darren Parker 20th November 2024 According to the ‘Global Competitiveness Index’ compiled by the World Economic Forum and hosted on the World Bank's Prosperity Data360 platform, Namibia ranks highest in sub-Saharan Africa for road quality, achieving a score of 5.31 out of seven on a scale used to evaluate infrastructure.... →

Fintech, partners offer WhatsApp solution to improve access to banking services

By: Schalk Burger 19th November 2024 A bank card that enables cardholders to manage their account and money through a WhatsApp solution has been launched by fintech Mama Money in collaboration with financial services firm Access Bank and retailer Pick n Pay. The aim is to overcome the barriers millions in the country face when... →

National Treasury publishes Phase 2 carbon tax discussion paper for public comment

By: Darren Parker 13th November 2024 National Treasury has published a carbon tax discussion paper for public comment, outlining Phase 2 of the carbon tax. Government announced its intention to do this in the 2024 Budget presented in February. →

BankservAfrica seeks transition to payments utility through SARB collaboration

By: Schalk Burger 11th November 2024 Settlements and payments services platform BankservAfrica intends to transition into a national payments utility through a significant industry collaboration with the South African Reserve Bank (SARB) and its commercial bank shareholders. The strategic partnership seeks to bolster efforts to... →

‘No crisis looming’ as independent technical assessment set to resolve billing dispute between Eskom, City Power

By: Darren Parker 11th November 2024 Electricity and Energy Minister Dr Kgosientsho Ramakgopa has confirmed that an independent technical assessment of the R6.1-billion billing dispute between State-owned utility Eskom and the City of Johannesburg’s (CoJ’s) wholly-owned electricity utility City Power will be carried out over the... →

The lights will remain on in Johannesburg over Christmas

Navigating business exits in a changing global landscape

By: Shannon de Ryhove 8th November 2024 In a webinar hosted by Creamer Media Webinars on behalf of professional sell-side mergers and acquisitions advisory Deal Leaders International (DLI), business owners and attendees gathered to explore the vital, often challenging, topic of planning for a successful exit strategy. Set against the... →

Michael Avery explores effective strategies for enhancing the value of engineering or mining services businesses with Deal Leaders International CEO: Mid-Market Rick Grantham and Deal Leaders International CEO: Corporate & Advisory Andrew Bahlmann

AFD sees others adding to $432m South Africa climate loan

By: Bloomberg 8th November 2024 The head of France’s state development bank expects other development finance institutions to add to a €400-million ($432-million) climate loan for South Africa that partners will likely sign within days. The funds are part of a $9.3 billion climate-finance pact agreed between South Africa and... →

Deputy Finance Minister David Masondo

Fintech transforms African financial services, but funding costs are obstacle - EIB

By: Schalk Burger 7th November 2024 Financial technology (fintech) companies in Africa have nearly tripled in number since 2020, improving access to finance for people and businesses across the continent, says development finance institution EIB's 'Finance in Africa 2024' report. “Fintech is revolutionising the way we think about... →

Office of the Tax Ombud progressing strategic objectives

By: Tasneem Bulbulia 6th November 2024 The Office of the Tax Ombud (OTO) made progress during the 2023/24 financial year against its strategic objectives, but more still needs to be done to bolster this, the organisation highlighted during the launch of its annual report on November 6. The OTO is an independent and impartial officer... →

Sars implemented 2 178 OTO complaints in the period

Parsons concerned Trump’s victory will result in volatility, uncertainty in emerging economies

By: Darren Parker 6th November 2024 While the decisive American election mandate, which has seen Donald Trump being all but confirmed as President elect in the US, has strengthened political certainty within that country, it has heightened market volatility and uncertainty elsewhere, including among emerging economies, North West... →

President elect Donald Trump

Standard Chartered, UK's BII renew $350m trade finance commitment in Africa, South Asia

By: Schalk Burger 5th November 2024 Financial services firm Standard Chartered and UK development finance institution British International Investment (BII) have signed a $350-million risk participation agreement for the trade finance needs of small and medium-sized enterprises and corporates across Africa and South Asia. The... →

RMB, REdimension Capital, GBCSA release ESG proptech report

By: Darren Parker 4th November 2024 Financial institution Rand Merchant Bank (RMB) has, in partnership with REdimension Capital and the Green Building Council of South Africa (GBCSA), released an environmental, social and governance (ESG) property technology (proptech) report. The report, titled ‘Building the Future’, explores the... →

African financial institutions call for greater mobilisation of resources to develop Africa

By: Rebecca Campbell 4th November 2024 The Alliance of African Multilateral Financial Institutions (AAMFI) has called for the increased mobilisation of resources to fund sustainable development in Africa. AAMFI made the call at a high-level side event at the 2024 Annual Meetings of the International Monetary Fund and the World Bank... →

AECI to sell Much Asphalt for R1.1bn

By: Darren Parker 4th November 2024 JSE-listed AECI has announced the signing of a share purchase agreement with a consortium involving Old Mutual Private Equity (OMPE) and Sphere Investments to sell its entire ownership stake in wholly-owned subsidiary Much Asphalt for an estimated R1.1-billion. The deal will be financed through a... →

Sino Africa Gases established in Newcastle

By: Darren Parker 1st November 2024 The new food-grade liquid CO2 manufacturing plant of Sino Africa Gases is now officially established. The plant, located in Newcastle, KwaZulu-Natal, was funded by the National Empowerment Fund (NEF), in collaboration with the Department of Trade, Industry and Competition (dtic). →

Sino Africa Gases co-founder Sibusiso Sibisi

New solar rental solution launched in South Africa

By: Tasneem Bulbulia 1st November 2024 ReCharge Rental Solutions (RRS) has officially launched its energy rental solution, supported by international bank and wealth manager Investec, in South Africa. RRS rents and maintains bespoke energy saving solutions to businesses, residential complexes, industrial factories, farms and... →

IFC's investments in Africa grow 23% to $14.2bn in past year

By: Schalk Burger 31st October 2024 Development finance institution the International Finance Corporation's (IFC's) investments in Africa totalled $14.2-billion in the past fiscal year, or 23% higher than the prior year, which is its largest ever commitment to the continent. Its investments supported Africa’s clean energy,... →

Trade opportunities for emerging countries to remain under a Trump Presidency, economist says

By: Darren Parker 29th October 2024 Economist Dr Larry Hatheway has predicted that Donald Trump will win the upcoming US presidential elections against Kamala Harris, which will probably encourage deglobalisation based on the former president’s staunch US-first policy approach. However, speaking in a webinar on October 29, hosted... →

In this video, economist Dr Larry Hatheway discusses his views on the economic outcomes of the upcoming US presidential elections

Sun International’s proposed acquisition of Peermont should be denied, commission recommends

By: Darren Parker 28th October 2024 The Competition Commission has recommended that the Competition Tribunal prohibit JSE-listed Sun International’s proposed acquisition of Peermont Holdings. The commission said on October 28 that it found that the proposed merger between the two casino owners would likely substantially prevent... →

Greater coordination needed to realise green-hydrogen aspirations

By: Darren Parker 25th October 2024 Despite enthusiasm for the development of a hydrogen economy from the public and private sectors, there remains a significant lack of coordination to effectively implement projects and bring the dream of a green hydrogen economy to life, according to energy technology company Mitochondria Energy... →

Local supply chain challenges pose significant threat to localised manufacturing

By: Darren Parker 24th October 2024 If hydrogen technology developer Mitochondria Energy CEO Mashudu Ramano had known beforehand how difficult it would be to find local suppliers for hydrogen fuel cell and electrolyser parts, he would never have entered the hydrogen market at all, he revealed on October 23. Speaking on the second... →

Photo by Mitochondria Energy Company
Mitochondria's fuel cell technology

PIC starts search for a new CEO as Sithole’s term nears its end

By: Tasneem Bulbulia 18th October 2024 Asset manager the Public Investment Corporation (PIC) has initiated a search to identify and appoint a new CEO to succeed Abel Sithole, whose term will be coming to an end effective July 2025. The search is a responsible and proactive move by the board to allow sufficient time to appoint a new... →

Insurance M&A dealmaking up in early 2024 – PwC

By: Darren Parker 16th October 2024 Auditing firm PwC says the first half of this year saw a measured uptick in dealmaking across the insurance industry, both globally and in South Africa However, despite the emergence of a turning rate cycle, macroeconomic weakness and political uncertainty for those still facing uncertain... →

Land Bank Insurance Company to pilot index insurance in South Africa

By: Tasneem Bulbulia 15th October 2024 The Land Bank Insurance Company (LBIC) will pilot index insurance in South Africa over the next two years, targeting smallholder producers, with the aim of providing affordable drought-risk insurance for both crop and livestock farmers. The company asserts that index insurance products have... →

DPWI, ISA launch project preparation bid window to expand infrastructure investment

By: Darren Parker 15th October 2024 The Department of Public Works and Infrastructure (DPWI), together with government agency Infrastructure South Africa (ISA), has opened a novel project preparation bid window to invite submissions from national and provincial government departments, State-owned entities, public entities and... →

Public Works and Infrastructure Minister Dean Macpherson and Infrastructure South Africa acting head Mameetse Masemola

Photo by Creamer Media
Public Works and Infrastructure Minister Dean Macpherson and Infrastructure South Africa acting head Mameetse Masemola

Endeavor South Africa secures R190m in first close of Harvest Fund III

By: Tasneem Bulbulia 11th October 2024 Endeavor South Africa, which offers venture capital and mentoring support to domestic and African entrepreneurial enterprises, has marked the first close of its R500-million Harvest Fund III, securing R190-million, exceeding its initial R150-million target. The fund aims to catalyse growth in... →

Township Retail Investment Summit 2024 held to highlight township retail potential

By: Schalk Burger 7th October 2024 The Township Retail Investment Summit (TRIS) 2024 event, held at Alex Mall, in Gauteng, highlighted the rising importance of township retail as a key driver for the country’s economic future. Sponsored by financial services firm Nedbank Corporate and Investment Banking (CIB) and hosted by real... →

R273m govt-funded Orion tank farm in Gqeberha unveiled

By: Darren Parker 3rd October 2024 The Orion Engineered Carbons (OEC) tank farm project, in Zone 7 of the Coega Special Economic Zone (CSEZ) in Gqeberha, in the Eastern Cape, has officially been unveiled. Trade, Industry and Competition chief director of infrastructure Justice Ngwenya, who addressed the official launch, said the... →

South Africa nominates Bajabulile Tshabalala for AfDB president

By: Schalk Burger 2nd October 2024 South Africa’s Cabinet formally endorsed development finance institution the African Development Bank (AfDB) senior VP Bajabulile Swazi Tshabalala as its nominee for the role of president of the AfDB in August, Finance Minister Enoch Godongwana has announced. In line with the AfDB’s rules and... →

UAE firm signs MoU with PIC to advance South Africa’s mining, green energy, transport and logistics sectors

By: Darren Parker 30th September 2024 United Arab Emirates (UAE) diversified natural resources company International Resources Holding (IRH) has signed a memorandum of understanding (MoU) with South Africa's State-owned Public Investment Corporation (PIC) to collaborate on unlocking value across the mining, green energy and transport... →

OPEC Fund signs off on $65m clean energy and infrastructure development financing for Madagascar

By: Darren Parker 27th September 2024 The Organization of the Petroleum Exporting Countries (OPEC) Fund for International Development has signed off on two financing agreements with Madagascar totalling $65-million to boost support for sustainable socioeconomic development and energy transition. A $35-million loan will support the... →

Macpherson, AGSA commit to working together to iron out DPWI financial mismanagement

By: Darren Parker 25th September 2024 Following a meeting between Public Works and Infrastructure Minister Dean Macpherson and the Auditor-General of South Africa (AGSA) on September 25, the two parties have committed to working together to assist the Department of Public Works and Infrastructure (DPWI) in improving its performance... →

Photo by Creamer Media's Donna Slater
Public Works and Infrastructure Minister Dean Macpherson

AFC signs concession agreements with Angola, Zambia to advance Lobito rail project

By: Darren Parker 25th September 2024 Infrastructure financier Africa Finance Corporation (AFC) has signed concession agreements with the governments of Angola and Zambia for the financing, construction, ownership and operation of the Zambia Lobito rail project. The agreements pave the way for AFC to spearhead and complete the... →

BLSA CEO highlights opportunities to bolster foreign sentiment towards SA

By: Tasneem Bulbulia 23rd September 2024 Changes to interest rates both locally and across key markets, coupled with positive political sentiment linked to the Government of National Unity, are enhancing foreign investor confidence in South Africa, says Business Leadership South Africa (BLSA) CEO Busi Mavuso. She highlights that hosting... →

Busi Mavuso

Defence industry CEO calls for PPPs to fund SANDF projects

By: Darren Parker 20th September 2024 The CEO of the South African Aerospace, Maritime and Defence Industries association, Sandile Ndlovu, has called for the use of public-private partnerships (PPPs) to help fund defence projects in South Africa. Speaking at the African Aerospace and Defence trade show and exhibition, held at Air... →

Photo by Creamer Media
Rooivalk helicopter

JPMorgan CEO Jamie Dimon to visit Africa in growth push

By: Reuters 18th September 2024 JPMorgan Chase CEO Jamie Dimon plans to travel to Africa in mid-October in a push by the biggest U.S. lender to expand on the continent, four sources familiar with the matter told Reuters, his first trip there in seven years. Dimon is expected to visit Kenya, Nigeria, South Africa and Côte... →

Nedbank CIB, DP World Trade Finance partner to offer trade finance solutions

By: Tasneem Bulbulia 17th September 2024 Nedbank Corporate and Investment Banking (CIB) has announced a strategic partnership with DP World Trade Finance to address the working capital challenges faced by businesses across sub-Saharan Africa. This collaboration encompasses supply chain finance initiatives for DP World’s suppliers in... →

Topics In These Articles

Africa Efficiency Environment Financial Infrastructure Logistics PROJECT Projects Road Roads transport SECURITY Service Services Energy Innovation Renewable Energy Renewable-Energy Resources Sustainable Training Business Eskom generation Transnet Platinum Exploration Mineral Processing Design Paper ... more

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