Egypt experienced a 60% rise in foreign direct investment (FDI) last year, making it the largest recipient of overseas investment in Africa, according to a recent report by fDi Intelligence. The North African nation overtook South Africa in the number of FDI projects received, after seeing...
British long-distance runner Mo Farah has been appointed ambassador of Djibouti Ports and Free Zones Authority (DPFZA). Farah, who’s family hail from neighbouring Somaliland, was part of the ceremony that launched the redevelopment of the historical port into an East African business district. “We are delighted to...
An influential South African business group has urged the Government to accelerate structural reforms in order to boost its economic recovery from the restrictions put in place to fight the spread of COVID-19. The South African Chamber of Commerce and Industry’s (Sacci) business-confidence index recovered to...
African CEOs have expressed confidence in the long-term economic prospects of the continent despite the negative impact the COVID-19 pandemic has had on the profits of African businesses. The 2020 edition of the Africa CEO survey, an initiative of the Africa CEO Forum and Deloitte, found...
US-based Aptive Capital has chosen to invest in three early stage African businesses following an application period for US$10,000 in equity capital from its $1 million portfolio fund. The Africa-focused venture capital firm will invest in digital marketing agency Skyfire Digital, Ugandan Bitcoin payment solution service...
Uganda and Tanzania have signed a US$3.5 billion deal to build an oil pipeline which will transport crude from the former’s Lake Albert oil fields to the Tanzanian port of Tanga. The deal, signed on Sunday by Ugandan President Yoweri Museveni and Tanzanian President John Magufuli,...
Total yesterday announced that a security pact has been signed with the Mozambique government to protect a US$20 billion liquified natural gas (LNG) project in the Southern African country. Government security forces have been engaged in a low-level insurgency against militias suspected of having links to...
Gold mining companies in Mali have reported no changes as their operations despite the resignation of President Ibrahim Boubacar Keita earlier this week in a military coup. The likes of Barrick Gold, B2Gold, Resolute Mining, AngloGold Ashanti, Hummingbird Resources and Cora Gold said operations and staff...
The Southern African Institute of Mining and Metallurgy (SAIMM) has handed mining industry veteran and consultant Roger Dixon the 2020 Brigadier Stokes award. Approaching his 50th year in the South African mining sector, Dixon said the Brigadier Stokes Award – bestowed for its recipients’ outstanding and unique...
Dangote Cement’s Pan-African operations performed well in the first half of 2020 and contributed positively to its Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA), the company said. The cement giant told Nigerian business news website Nairametrics that ‘the Pan-African business is not dragging the group...