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TABJ – 17 May – BG Group has announced its fifth consecutive Tanzania gas discovery with the Mzia-1 exploration well located in Block 1, offshore southern Tanzania.Mzia-1 is BG Group’s first discovery within the deeper Cretaceous section and opens an extensive new play fairway within the Group’s offshore acreage in Blocks 1, 3 and 4, to complement the now proven... Read more

TABJ, 15 May Citi, Standard Bank and Standard Chartered Bank as Bookrunners and Mandated Lead Arrangers (the Bookrunners) today announced the successful signing of a US$600 million Syndicated Medium Term Loan Facility (the Facility) for the Government of the Republic of Kenya, acting through the Ministry of Finance (the Republic).  The Facility, which has a two year tenor, has been... Read more

TABJ – 14 May – The International Monetary Fund (IMF) has lowered its forecast for sub-Saharan Africa’s 2012 growth rate, citing the global financial slump and South Africa’s slow recovery. Its previous projection of 5.9 per cent growth for this year has been cut to a still-respectable 5.4 per cent. The IMF commented: “The growth outlook for 2012 is... Read more

TABJ – 11 May – South African mining group Exxaro Resources has told Bloomberg News it is looking into speeding up its Mayoko iron-ore project in the Democratic Republic of Congo. Having found that its 20 per cent stake in Kumba Iron Ore’s Sishen mine contributed 58 per cent of its earnings last year, Exxaro wants to take full... Read more

TABJ – 10 May – Large multinational companies are using complex transactions to illegally reduce their local tax bills, according to the South African Revenue Service (SARS). It is claimed that these tax crimes are costing the South African economy billions of rand. At parliament’s finance committee on Tuesday, SARS commissioner Oupa Magashula said: “We have detected an increase... Read more

TABJ – 8 May – Leading investment bankers are meeting with African telecom executives in London on June 7 to discuss the surge in demand for financing and mergers and acquisitions across the continent, including US$50bn for mobile infrastructure investment.Telecom sector heads from Goldman Sachs, Barclays Capital, Citigroup, Standard Bank, Lazard, ING, Investec, and Rand Merchant Bank are among those... Read more

TABJ – 3 May – The BBC have reported that at least 34 people were killed and another 29 injured in an attack at the Potiskum cattle market in Yobe State, Nigeria, yesterday. A group of men, armed with explosives, locked the gate of the fenced cattle market and set fire to it, trapping several traders and lifestock inside. The... Read more

TABJ – 2 May – Uganda’s central bank continued to hold interest rates at 21% today, fearing any immediate easing would be premature. However the Bank of Uganda (BoU)’s governor Emmauel Tumusiime-Mutebile pledged to cut rates once the risks to inflation subsided. He predicted that recent increases in food prices could continue until July, adding to the inflationary risk of... Read more

TABJ – 2 May – The Burundi government yesterday suspended taxes on basic food imports such as flour and oil. "Food prices rose sharply on the local market due to a poor production, a situation which has worsened the living conditions of the population," said President Pierre Nkurunziza, in a Workers Day address to the nation. "In order to cope... Read more

IRJ – May 1 – AngloGold Ashanti’s Mongbwala gold mine in the Democratic Republic of Congo may face delays due to an invasion of some 200,000 artisanal miners, believed to be ex-fighters from a civil war that ended in 2003. The miners are reported to have laid down arms in order to set up well-organised teams with machinery to crush... Read more

TABJ – 30 Apr – This weekend, in South Africa, a police officer and a ranger were shot dead in an operation to stop rhinoceros poachers in Kruger Park game reserve. The police officer was on a joint patrol with a soldier when they received information that there may be poachers in the area. They came under fire as they... Read more

TABJ – 30 Apr – The Economic Community Of West African States (ECOWAS) today released this press communique regarding the ongoing situation in Guinea-Bissau: The Gambian President, Alhaji Yahya Jammeh, has warned that the region was "losing its patience" over the perennial political crisis in Guinea Bissau and would not allow a tiny minority to take the country and region hostage to their... Read more

TABJ – 27 Apr – The Namibian fishing sector was hit by fuel price increases last year and the situation remains bleak for 2012. Luderitz fishing companies bore heaviest losses as they are serviced by inland depots and there has been an additional 6% rail tariff increase. Hake fishing in particular uses up to 30% of its operational spend on... Read more

TABJ – 24 Apr – A report that is said to reveal that $6bn have been defrauded from the Nigerian fuel subsidy fund in the last two years is due to be released and debated in Nigeria’s parliament. Some of its findings have been leaked to the press, including the claim that 15 fuel importers received more than $300m two... Read more

TABJ – 23 Apr – Helios Towers Ghana (HTG) announced that at last night’s second Ghana Telecoms Summit Awards ceremony, it was the recipient of the prestigious ‘Infrastructure Company of the Year’ award, for the second consecutive year.The award, which recognises extra special capabilities and outperformance in the category of telecoms infrastructure provision, was also won by HTG in 2011.... Read more

IRJ – 23 Apr – Last week’s disturbances near African Minerals’ (AML) iron ore project in Sierra Leone have calmed down and the events have not had a “material effect on [the company’s] activities” according to a spokesman. Media reports coming out of the country cited locals describing a chaotic situation at the mining town of Bumbuna in northern... Read more

TABJ – 20 Apr – South Sudan’s President Salva Kiir has ordered the withdrawal of his country’s troops from the Heglig oil field, which lies across the border in Sudan. Last week South Sudanese soldiers occupied the oil field, amid accusations that Khartoum was launching attacks from there. The UN declared the occupation illegal but also called upon Sudan to... Read more

TABJ – 20 Apr – It was reported today that scientists have mapped a huge reservoir of groundwater under the continent of Africa. It is estimated that the total volume of the deep underground aquifers is a hundred times that found on the surface of Africa. The scientific journal, Environmental Research Letters, published a paper in which researchers from the... Read more

TABJ – 11 Apr – The African Union has urged South Sudan to withdraw its troops from the Heglig oilfield, which is in Sudan’s territory. Alarmingly, today is the second day of fighting in border regions between the two countries and the AU has called on both sides to show restraint. South Sudan seceded from Sudan in July 2011 and... Read more

Arriving just in time for the chocolate bonanza that is Easter, The Fairtrade Foundation's Cocoa report highlights the social problems connected with this sector.Easter woes for West African cocoa farmers ... Read more

Project : First Ore On ShipAfrican Minerals : Tonkolili ... Read more

TABJ – March 23 – AIM-listed Guinea-active multi-project developer Bellzone Mining announced that it has commenced production and stockpiling at its Forécariah iron ore joint venture with China International Fund (CIF), Friday. The miner, which also owns the flagship development 50mtpa Kalia iron ore deposit, conducted the maiden blast of the Forécariah project’s Yomboyeli central ore body on March... Read more

TABJ – March 23 – Reports of a coup unfurling in Mali spurned uncertainty and share price depletion for mining groups active in the country after rebel soldiers speaking on state television stated that they had seized control in the north from the government of President Amadou Toumani Toure, Thursday. Among the miners featured in headlines, African gold group... Read more

TABJ – Mar 16 – African immigrants in Rochester, North America, have brought an entrepreneurial spirit that has resulted in an estimated 50 businesses owned and operated by people from African countries.While it is not known exactly how many immigrants from African countries live in Rochester, the city calculates that about 2,900 people just from Somalia are now residents.Partnering the... Read more

TABJ – Mar 16 – One of Africa’s foremost providers of petroleum products and services—Engen Ghana limited—is aiming to become the leading downstream company in the sub-Saharan region by 2016. Engen is an Africa-based energy company focusing on the downstream refined petroleum products market and related businesses. The company’s core functions are the refining of crude oil, marketing of refined petroleum... Read more

TABJ – Mar 15 – A leading provider of affordable, green retail energy, has lead a drive to supply books to libraries in rural villages in Africa.It is part of Viridian Energy’s ‘7 Continents in 7 Years’ initiative, which undertakes a major sustainability project on each of the seven continents over a period of seven years. Viridian team members and... Read more

TABJ – Mar 13 – General Motors South Africa (GMSA) has exported its first shipment of Isuzu KB light commercial vehicles to Kenya, expanding the export markets it serves in Africa.Kenya was the latest addition to the company’s existing right-hand drive export markets of Mozambique, Zimbabwe, Zambia, Malawi and Mauritius, said Rita Kavashe, MD for east Africa and GMSA exports... Read more

TABJ – Mar 14 – Decision management and risk mitigation experts, Scorto Corporation is teaming up with financial institutions in Sub-Saharan Africa to enhance their risk management framework. One of the recent banks to adapt the new technology is The Eastern and Southern African Trade and Development Bank (PTA Bank)—a leading Sub-Saharan provider of development capital since 1985. PTA Bank is... Read more

TABJ – Mar 13 – Encouragingly, after rising by five per cent in January, employment in South Africa registered an annualised growth rate of 1.5 percent in February, according to the latest Adcorp Employment Index. The index is regarded as the most representative barometer of employment trends in South Africa.During February, the economy created 24, 000 jobs, adding to the... Read more

TABJ – Mar 13 – Business software producer  SAP AG has made plans to spend an additional $450 million across the Middle East and North Africa over four years.The company aims to tap into growth in the region and intends to recruit more than 500 new employees, in addition to the 300 currently in the region now. “The house is... Read more

TABJ – Mar 12 – South African businesses must move quickly to grab business opportunities in rapid growth markets across Africa, before the existing window of opportunity narrows and they get crowded out by overseas competition.This is the view of Nils Flaatten, CEO of the Western Cape Investment and Trade Promotion Agency (Wesgro). Flaatten was speaking at the ‘Wesgro Eye on... Read more

TABJ – Mar 12 – Old Mutual has begun an ambitious African expansion strategy—encouraged by the continent’s robust economic growth—posting a 17 per cent jump in earnings in the process. Old Mutual, a financial conglomerate with insurance, banking and asset management businesses across four continents, had identified “exciting growth opportunities” in Africa, it stated. “We have considered for many years... Read more

TABJ – Mar 12 – Old Mutual has begun an ambitious African expansion strategy—encouraged by the continent’s robust economic growth—posting a 17 per cent jump in earnings in the process. Old Mutual, a financial conglomerate with insurance, banking and asset management businesses across four continents, had identified “exciting growth opportunities” in Africa, it stated. “We have considered for many years... Read more

TABJ – Mar 9 – The world’s biggest retailer Wal-Mart, has been granted permission to proceed with its 17 billion rand ($2.2 billion) purchase of a controlling share of South African chain, Massmart.The Competition Appeal Court upheld a ruling last year by the Competition Tribunal—the government agency charged with promoting competition and protecting consumers. The appeal court, however, did call... Read more

TABJ – Mar 9 – South African World Cup-winning coach Jake White has rejected the chance to be England’s next permanent head coach. White is eight months into a four-year deal with the Brumbies in Australia and says he will see out his contract. He reflected: "It is always hard turning down a chance to win a World Cup, but rugby... Read more

TABJ – Mar 8 – Standard Bank Group Ltd. is looking to benefit more from the growing trade and investment between China and Africa by expanding its Africa business and looking for ways to cut spending outside the continent. "The biggest opportunity, the fastest growing opportunity, is the burgeoning Sino-Africa trade and investment relationship," Deputy Chief Executive Sim Tshabalala said. Standard... Read more

TABJ – Mar 8 – South Africa’s most decorated coach, Jake White, claims the RFU has approached him about taking over the England team. White is eight months into a four-year deal with the Brumbies in Australia and insists he would not leave before the Super 15 season ends, in August. The 48-year-old has, however, "declared an interest in exploring... Read more

TABJ – Mar 7 – Major global private equity outfit, the Carlyle Group has stated that it has concluded plans to pursue its geographical expansion into sub-Saharan Africa through the support of Africa Development Bank (AfDB) who will disburse a  $50 million equity fund.The Board of the African Development Bank (AfDB) has approved Carle’s equity investment of USD 50 million... Read more

TABJ – Mar 7 – In recent months confidence among South African businesses has improved, reaching the highest level since June last year.The data has emerged from the South African Chamber of Commerce and Industry (SACCI).The business confidence index increased to 99.5 in February after falling by two points to 97.1 in January. The February reading is the highest since... Read more

TABJ – Mar 6 – Furniture company Steinhoff’s strategic position has been strengthened through the successful integration of Conforama in Europe, and the repositioning of its African business.  The results for the period under review include the six months trading contribution of French furniture outfit, Conforama, which Steinhoff bought last year for R11.04 billion from PPR—a French multinational holding company.... Read more

TABJ – Mar 6 – The South African Chamber of Commerce and Industry has encouraged businesses who believe there is a substantial risk to their premises from the planned national strike by the Congress of South African Trade Unions (Cosatu), to take precautions. The chamber advised businesses to contact the police ahead of the strike if they had concerns.Cosatu has... Read more

TABJ – Mar 5 – In a move designed to tackle South Africa’s national energy shortage, ICT services company Business Connexion has launched its Energy Efficiency Services, on the back of a partnership agreement with Eskom.Business Connexion said it saw this as a R1 billion sector for the operation over the next two years, with a focus on big industry,... Read more

TABJ – Mar 5 – Nearly two years after an explosion sent millions of gallons of oil into the Gulf of Mexico, deepwater drilling has regained momentum in the gulf and throughout the world. The announcement of an agreement by BP, and lawyers representing individuals and businesses hurt by the disaster, also represents a certain amount of closure. After a... Read more

TABJ – Mar 5 – As the use of mobile phones continues to grow, experts have encouraged the introduction of non-bank players, new business models and understanding of new risks.On different occasions during the opening of the African Financial Inclusion (AFI) forum  the main speakers emphasised the need to develop Mobile Financial Services (MFS) in individual countries."Let us have strategic... Read more

TABJ – Mar 2 – Demand for air travel across the African continent has never been higher, as executives navigate Africa in search of the next big deal. African airlines are rapidly launching new international and regional routes, and striving to join global networks such as Star Alliance, which now counts Ethiopian Airlines, South African Airways (SAA) and Egypt Air... Read more

TABJ – Mar 2 – The recent victory by Zambia in the African Nations Cup is set to be an interesting area of focus when leading personalities in the African and international football business community descend on Johannesburg for the 2012 African Football Executive Confex.   The first Confex was held in Accra Ghana in 2011 and organised by the London-based... Read more

TABJ – Mar 2 – The Bank of Africa Group has praised Tanzania’s investment environment, describing the country as favourable, accommodative and convincing to investors in the region.Group President Mohamed Bennani told the group directors and customers at a cocktail party, hosted by the bank that, "We are very proud of our presence in this beautiful country."Mr Bennani said Tanzania... Read more

TABJ – Feb 16 – A copyright management organisation has been formed to represent and protect South African publishers.The South African Reproduction Rights Organisation (SARRO), which has been four years in the making, copyrights businesses, organisations and industries correctly in order to promote the access and sharing of copyrighted work and ensure that publishers are remunerated for the use. “Copyright in... Read more

TABJ – Feb 16 – IndiGo solar energy service in Africa enables rural households to generate their own power and has instigated its first pay-as-you-go system for homeowners to purchase the energy generated.The technology aims to replace environmentally harmful lighting such as oil burning lamps which contributes 190 million tons of CO2 emissions per year. “Pay-as-you-go solar is a good system... Read more

TABJ – Feb 16 – Chronic childhood malnutrition is putting 450 million children at risk of permanent damage in the next 15 years.Despite global efforts to boost food security, a report by Save the Children revealed that chronic malnutrition is far more deadly and widespread than the short-term version seen during food crises. “Malnutrition is a largely hidden crisis, but it... Read more