Author: African News Agency

Gemstone mining company Gemfields said on Friday an auction of predominantly commercial quality rough emerald held in the Zambian capital Lusaka this week raised US$18.6 million in revenue. In a statement, Gemfields said the stones were extracted by Kagem Mining, in which it has a 75 percent stake while the Industrial Development Corporation of Zambia owns 25 percent. “The proceeds of this auction will be fully repatriated to Kagem in Zambia, with all royalties due to the government of … Zambia being paid on the full sales prices achieved at the auction,” the company said. Gemfields said a 15 percent…

Emerging liquefied natural gas and helium producer, Renergen, on Wednesday said it had signed a US $40 million loan agreement with the Overseas Private Investment Corporation (OPIC) for a gas project in the Free State province. Renergen’s principal asset is its 90 per cent shareholding in Tetra4, which holds the first and only onshore petroleum production right in South Africa, giving it a first-mover advantage on the distribution of domestic natural gas. OPIC is the United States government’s development finance institution that mobilizes private capital to help solve critical development challenges and advances the foreign policy of the United States and national security…

South Africa’s trade and industry deputy minister Nomalungelo Gina and Tunisian secretary of state for foreign affairs Sabri Bachtoji have committed to strengthening bilateral economic relations in order to increase trade and investment between their two countries, the government said on Wednesday. During a meeting in Pretoria, the two emphasised the need to establish a framework and create a conducive environment for the two countries’ business communities to work together. “Our countries have enjoyed historically strong political ties but it is incumbent upon us to strengthen our economic ties and increase economic cooperation between our countries,” Bachtoji said. “As the…

Transparency International revealed on Thursday that more than half of all citizens surveyed in 35 African countries thought corruption was getting worse in their country, while fifty-nine percent of the people thought their government was performing poorly at tackling corruption. Managing Director of Transparency International, Patricia Moreira, said: “Corruption is hindering Africa’s economic, political and social development. It is a major barrier to economic growth, good governance, and basic freedoms, like freedom of speech or citizens’ right to hold governments to account.” The organization said it was the largest and most detailed survey of citizens’ views on bribery and other…

The renowned CannaTech Summit will take place in the first time on the African continent, in South Africa from 24-26 November, organisers have announced. The announcement of the summit, to be held at the Lookout at the V&A Waterfront in Cape Town, comes as the global medical cannabis market continues to expand and increasing numbers of countries around the globe legalise its use. With estimates that the cannabis and associated products market could be worth R27 billion ($391.6 million) by 2023, this potential has led to a boom in regional cannabis interest and investment. “The global interest in Africa’s cannabis market and…

South Africa’s Tourism Minister Derek Hanekom met with representatives of global online accommodation booking platform Airbnb to discuss various policy issues, in particular, the regulation of short-term home rentals, the department said on Friday. The meeting took place in the context of the current call for public comment on the Tourism Amendment Bill, published on April 15, to provide stakeholders an opportunity to make submissions. The Tourism Amended Draft Bill aims, amongst others, to address the regulatory vacuum on short-term rentals by defining short-term home rentals as “the renting or leasing on a temporary basis, for reward, of a dwelling…

The United Association of South Africa (Uasa) on Friday night celebrated 125 years of involvement in the labour market with an event in Muldersdrift, just outside Johannesburg. “Uasa elected leaders also signed a pledge to always put Uasa members first by operating only on the mandates issued by members in a transparent and honest manner,” Uasa spokesman Stanford Mazhindu said on Saturday. Uasa celebrated its achievements over the past one and a quarter century while at the same time looking ahead to envisage how, as a trade union, it could remain relevant in a constantly changing world. “When a group…

A group of 25 South African business people was in high spirits ahead of their departure to Kampala, Uganda, to explore trade and investment opportunities in the agro-processing, capital equipment, energy and furniture sectors in the East African country. This is according to the Department of Trade and Industry (dti) who said in a statement on Friday that the delegation will participate in the Outward Trade and Investment Mission to Kampala from 19-24 May. According to the Minister of Trade and Industry, Dr. Rob Davies, the main objective of the mission is to increase bilateral trade and investment between South…

Another case of African Swine Fever (ASF) has been reported this month in the Heilbron area in the Free State province, the Agriculture, Forestry and Fisheries Ministry revealed on Monday. In a statement spokesperson, Khaye Nkwanyana, said: “This follows outbreaks in April 2019 in the North West, Mpumalanga and Gauteng provinces. “All four outbreaks occurred outside of the ASF controlled area of South Africa and have been reported to the World Organisation for Animal Health. “The affected areas have been placed under quarantine and provincial veterinary services are applying the necessary disease control measures.” Nkwanyana said veterinary services together with…

Chinese multinational telecommunications giant Huawei said on Monday that it had partnered with 48 local developers of mobile apps, and was still looking for more, in a drive to promote South African digital talent on its mobile app store. Huawei Mobile Services was launched in South Africa in June last year. Since then, both the mobile app store Huawei AppGallery and Huawei Themes have become increasingly popular with the local market. Lu Geng, director of Huawei consumer cloud service for southern Africa region, said 48 developers have recently registered their apps with Huawei following a Developers’ Day where Huawei executives met…