Weekly Roundup | 09.24.2024
Your curated selection of weekly Africa business and investment headlines.
Welcome to Africa Vantage, the Africa business and investment section of the Emerging Real Estate Digest—your insider's guide to investing and doing business on the African continent. Stay informed about the Lobito Corridor with our "Thoughts on the Corridor" section, and keep up with general business trends across Africa through "Africa Vantage."
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Headlines
JPMorgan CEO Jamie Diamond to Visit Africa in Growth Push
Coca-Cola Pledges $1 Billion Investment for Nigeria Over Next Five Years
Is President Hichilema Gearing Up To Change Zambia’s Constitution?
Five Notable Nigerian Private Capital Deals
📸 How Big is the Oil Market
Land Acquisitions Begin to Build Africa’s Longest Bridge
The Cape Winelands Airport Will Be Cape Town’s Second
Zambian Copper Mines Desperate for Power Find an Unlikely Savior
🎦 Wealthy Residents Flee Johannesburg Over Lawlessness and Infrastructure Collapse
US Ships Record Volumes of Thermal Coal to Africa
Zambia Mines Lobby Calls on Government to Halt Reforms
Africa
📰 JPMorgan CEO Jamie Diamond to Visit Africa in Growth Push
The trip is planned for mid-October to Kenya, Nigeria, South Africa, and Ivory Coast. The bank has small offices in South Africa and Nigeria, and was blocked by regulators in 2018 from entering Ghana and Kenya… Read More
📰 Coca-Cola Pledges $1 Billion Investment for Nigeria Over Next Five Years
The beverage giant recently pledged to invest $1 billion over the next five years in Nigeria. The announcement mirrors a similar one made in 2021 whose implementation was apparently stymied by COVID mitigation measures. Since 2013 the company has spent $1.5 billion in Nigeria… Read More
📰 Is President Hichilema Gearing Up To Change Zambia’s Constitution?
Zambia’s President said until a reform takes place to address "oversights," some gaps can "lead us to a situation where we could have no general election for eight years". The risk, even if technically correct, for HH is demonstrated by Former president Edgar Lungu who described the statement as "reckless" and urged Zambians to "stop this apparent dictator from tampering with our Republican constitution".… Read More
📰 Five Notable Nigerian Private Capital Deals
List of five Nigerian transactions including investments, exits and fundraising so far this year… Read More
📸 How Big is the Oil Market
📰 Land Acquisitions Begin to Build Africa’s Longest Bridge
The Mombasa Gate Bridge will be 4 kilometers long and connect Mombasa Island with the South Coast. It is funded with a $364.3 million loan from Japan, $72.9 million being earmarked to compensate the more than 1,706 displaced households… Read More
📰 The Cape Winelands Airport Will Be Cape Town’s Second
The Airport is scheduled to be operational by 2027 with a price tag of $390 million. The airport was built in 1943 as a base for the South African Air Force with four runways that housed Lockheed Ventura bombers, along with other war planes. The airport fell into private hands in 1993… Read More
📰 Zambian Copper Mines Desperate for Power Find an Unlikely Savior
South Africa’s electricity company, known for its own power supply challenges, is stepping in to support some of Zambia’s mines. The cross-border electricity transfer accounts for about 10% of Zambia’s typical demand. Zambia, which relies on hydropower for 85% of its electricity, is facing severe restrictions due to an ongoing historic drought.… Read More
🎦 Wealthy Residents Flee Johannesburg Over Lawlessness and Infrastructure Collapse
📰 Zambia Mines Lobby Calls on Government to Halt Reforms
The government’s plan to control at least 30% of future mines’ production will “undoubtedly deter potential investors from exploring Zambia,” Zambia’s Chamber of Mines said. The government is set upon taking the minimum stake “at no cost,” it added.… Read More
📰 US Ships Record Volumes of Thermal Coal to Africa
The US coal shipments so far in 2024 total 6.1 million metric tons, 83% larger than the same period last year. South Africa is the Continent’s largest user of coal but imports little due to adequate domestic mining… Read More
