Author: furtherafrica.com

FurtherAfrica is an online platform centralising news and content on the development and growth story of Africa. Content Syndication is done in partnership with The Exchange. The platform focuses on Southern Africa with an interest in economic growth, investment opportunities, financials and everything else in between.

Zimbabwe has one of the most diverse mining sectors I have ever come across. The country’s soil is rich in elements such as platinum, coal, iron ore, gold, diamonds and most recently the prospect of oil and gas. Despite its complex economic challenges, mining, along with agriculture, has been a key pillar supporting the country’s GDP. The sector is responsible for around 60% of Zimbabwe’s export earnings and remains as one of the main sources for the much welcome foreign currency inflow. FurtherAfrica spoke to the Hon. Winston Chitando, Zimbabwe’s Minister of Mines and Mining Development for an open conversation…

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On October 12th, Law no. 35/20 – the Free Trade Zones Law (“FTZL”) – was passed. The FTZL has established benefits to be conceded to investors by the Angolan Government, aiming at attracting foreign investment in Angola thus creating economic growth. All types of investment are permitted in the Free Zones, specifically investment in agriculture, industry (that use Angolan raw materials and are focused on exportation) and technology. Specific aspects pertaining the access to Free Zones (such as monetary requirements, number of jobs created, investments in fixed assets) shall be determined in the investment contract. Access to the Free Zones is…

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BREXIT trade impacts in Southern Africa If everything goes according to plan (and that’s a big statement), January 1st shall see the departure of the United Kingdom from the European Union, its single market and customs agreements. As much as I would like to, it is becoming increasingly hard to believe that the parties will conclude a trade deal in time for the official divorce date. I am sceptical of a “hard” BREXIT as I believe that some sort of policy extension will remain in place for quite some time; anything else would be economic madness and given the current…

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TLG Capital (TLG) today announced it has purchased 49% of Opportunity Bank Uganda Ltd (OBUL), a tier 1 financial institution (commercial bank) with 23 branches and 22 ATM points across Uganda. OBUL is licensed  and regulated by the Central Bank of Uganda and offers tailor made products and services for individuals, micro-businesses, and small-and-medium sized enterprises (SMEs). The bank was originally a micro-finance institution founded in 1995. The transaction makes TLG the largest shareholder of OBUL. Remaining shareholders (all NGOs) include Opportunity International Group (43%), Faulu Uganda (7%), and Food for the Hungry (1%). TLG’s investment was made via its…

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In recent history virtually every continent and economic block has been trying to establish common trade area agreements as well as political unions. Africa is no different –SADC, ECA, COMESA, ECOWAS and SACU are just some of the examples of African countries trying to collaborate to drive the many aspects of social and economic development. It is a system and an idea that promises to accelerate inclusion and promote regional prosperity among neighbours and the AfCFTA (The African Continental Free Trade Area) is rapidly becoming the embodiment of that reality – 28 African countries operating as a free trade area.…

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In the past 5 years, Southern Africa had seen a great influx of Chinese capital in any areas of investment. Many Chinese companies invested large amounts of capital in various sectors including infrastructure, but the one that seems to be getting the most attention lately is the Oil and Gas sector. Governments would sign multi year contracts granting exploration rights and concessions to oil and natural gas reserves to Chinese companies and negotiate royalties and equity in exchange. The system worked as a co-ownership that was observed in various countries for the great part of the last decade. Since late…

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Since its creation, the Luanda-Bengo Economic Exclusive Zone (EEZ) has been a factor encouraging investment, not only in the region but also in the Angolan economy. Its economic evolution has been felt over the last few years, in the flourishing of several innovative projects within this project, much due to the commitment and promotion that the Government has made. One of the paradigmatic examples of this commitment is the privatization plan that has been carried out over the last few months, in order to allow for greater competitiveness in the EEZ and an increase in the investment of national and…

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Mozambique is a country blessed with vast natural resources and abundant fertile lands – some of the key elements to ignite economic growth and social development that promises to change the good faith of the country. Nevertheless, and despite the massive approved foreign investment related to natural gas rivalling its GDP, Mozambique will face strong challenges in order to secure a better future. FurtherAfrica spoke to H.E. Adriano Maleiane, Mozambique’s Minister of Economy and Finance to better understand how the country intends to tackle these challenges using long-term strategies to ensure economic sustainability and a better future for its people.…

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As the Mozambique LNG plant nears US$15B finance – making it the biggest private investment in Africa – two main points of view arise, diametrically opposed: Also Read: Angola’s exceptional measures in force during sanitary enclosure a more cautious short-term assessment identifies the current oversupply of natural gas worldwide, and a steep drop in price; in Asia, for instance, prices dipped so much that importers in China have released themselves from contracts claiming “force majeure”, a clause often invoked during natural disasters or war. Prices in Asia have fallen below US$3 per million British thermal units, whereas in mid-January it was…

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A webinar organised by The Power & Electricity World Africa, entitled “Achieving Energy Security: Encouraging Healthy Competition And Regulation For IPPs”, took place on the morning of July 14th, 2020. Also Read: Angola’s exceptional measures in force during sanitary enclosure The attending virtual panel consisted of: Dr. Clinton Carter-Brown, Energy Centre Head, CSIR, South Africa – Moderator Vitor Marquez da Cruz, Managing Director, MC&A Advogados Eng. Julius Riungu, CEO, Tsavo Power, Kenya The topic of African Energy security and the challenges ahead was debated in a little over an hour, with very insightful contributions from all parties involved being brought to…

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