Weekly Roundup | 10.15.2024
Your curated selection of weekly Africa business and investment headlines.
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Headlines
📸 EM Equities at Lowest vs US Equities Since 1969
ECOWAS Commences Construction of Bridge Linking Ivory Coast and Liberia
📖 PEI Report: Honing in on Africa’s PE Potential [DOWNLOAD]
Ivanhoe to Explore Zambia With View of Replicating Success in DRC
📸 Half of Africa’s GDP Comes From 5 Countries
China’s Zijin Acquires $1bn Ghana Goldfield
🎦 African Continental Free Trade Area Progressing
Zambia Secures $50 Million Power Import Deal from South Africa’s Eskom
Congo Wants to Pivot Away From China’s Dominance Over Its Mining
Privatisation Not a “Swear Word”, Says South Africa’s Deputy President
📸 Nigeria’s FDI On Life Support
Africa
📸 EM Equities at Lowest vs US Equities Since 1969
📰 ECOWAS Commences Construction of Bridge Linking Ivory Coast and Liberia
The African Development Bank provided the $15 million of funding to enhance integration and trade within ECOWAS. The two-lane 288-meter bridge will cross the Cavally River … Read More
📖 PEI Report: Honing in on Africa’s PE Potential [DOWNLOAD]
Bullish and thoughtful report on the state of African private equity. Private Equity International (PEI) is popular with institutional investors.
📰 Ivanhow to Explore Zambia with View of Replicating Success in DRC
Ivanhoe recently signed an MOU with Zambia’s mining ministry for exploration activities in the country. The Candian miner is following the same path it followed in the DRC in developing the world-class Kamoa-Kakula copper complex along the Lobito Corridor. The DRC copper mine is in the top 3 globally with 50 million tonnes of reserves identified… Read More
📰 Top 10 Banks in Africa (2024)
.… Read More
📸 Half of Africa’s GDP Comes From 5 Countries
📰 China’s Zijin Acquires $1bn Ghana Goldfield
The seller of the Akyem gold mine is US-based Newmont Corp. Akyem is the second largest gold mine in Ghana, after the Ahafo mine, also owned by Newmont.… Read More
🎦 African Continental Free Trade Area Progressing
The AfCFTA is the largest free trade area in the world with 55 nations participating. Historically, inter-African trade has been low and AfCFTA hopes to integrate the economies through removal of tariffs, joint infrastructure projects, and streamlining of certain trade protocols.
📰 Zambia Secures $50 Million Power Import Deal from South Africa’s Eskom
Over the next four months, ZESCO would import an initial 125 megawatts (MW) of power, with the potential to scale up to 250MW, depending on demand. Of the initial 125MW, 85MW would be supplied to the national grid, benefiting households, hospitals, and businesses. The remaining 40MW would be allocated to FQM’s mining operations, ensuring continued productivity at the company’s facilities… Read More
📰 Congo Wants to Pivot Away From China’s Dominance Over Its Mining
Congo wants to “attract better investors, more investors, and diversified investors,” Mines Minister Kizito Pakabomba said.… Read More
📰 Privatisation Not a “Swear Word”, Says South Africa’s Deputy President
South Africa's economy has seen little growth over the past 15 years, largely due to corruption scandals and government mismanagement of basic services. However, with the ANC losing its majority, investor sentiment has started to improve. Additional positive policy reforms are being considered, including reforming or scraping BEE employment policies that favor the dominant racial group over the minority ones. There are ongoing discussions around easing strict immigration requirements to attract more skilled workers to the country… Read More
📸 Nigeria’s FDI On Life Support
FDI in Nigeria is on life support having nosedived from an average of $417 million per quarter a decade ago to a meager $28.8 million in Q2 2024… Read More
