For nearly six hours senior mining executives met privately with President Joseph Kabila in Kinshasa to debate the controversial mining code proposed for the Democratic Republic of Congo (DRC). Heads of industry giants like Glencore, Ivanhoe and China Molybdenum had all flown in for the meeting. The new code, they argued, would knock back development ...

The post May 2018 appeared first on African Business Magazine.

Whether enjoying a day at the beach or a stay at a city hotel, not even tourists are spared the reality of Cape Town’s historic drought. Light aircraft buzz the city’s beaches, trailing banners urging visitors to #beatDayZero – the day when taps are expected to spit out their last reserves. Hotel staff spread the ...

Khartoum, the capital of Sudan, is not a place that features much in conversations about investing in Africa. Despite having a population of almost 40m, significant natural resources and Africa’s fifth-largest economy, the country attracted just $1bn of investment in 2016, down from an equally unimpressive high of $2bn in 2012. For decades Sudan was ...

In mid-March, shortly after his return from Abuja, his last stop on a five-nation African tour, Rex Tillerson learned that US President Donald Trump had dismissed him as secretary of state via Twitter. This was not only a disdainful way for the president to sack his top diplomat, but also called into question the value of ...

Ethiopian Airlines has signed an agreement with South African aerospace company Aerosud to establish a joint-venture manufacturing company.     The Joint Venture Aerospace Company will manufacture and supply various aircraft parts to Boeing, Airbus and other aerospace companies. The manufacturing facilities are expected to be set up in the vicinity of Bole International Airport just outside ...

As an investor in around 200 fast food outlets and 45 pharmaceutical stores across South Africa, Marc van Olst views shopping mall footcount as a key indicator of the health of the businesses. But as the economy stuttered and the Zuma administration lurched from one economic strategy to the next, statistics in recent years made for ...

Shalina Resources Ltd and its DRCongo subsidiary, Chemaf S.A.R.L , a company specialising in cobalt and copper exploration, mining and processing in the DRCongo, have announced the signing of a three year offtake agreement for cobalt hydroxide with Trafigura Group, the leading commodities trading firm.   The marketing agreement covers cobalt production from existing producing ...

Thirteen years after the debt relief movement saw billions in unsustainable public borrowing written off by Western creditors, there are worrying signs that African economies could be lurching towards another crisis. Average public debt is expected to rise to 53% of GDP this year, up from 34% in 2013. The average cost of debt servicing ...