Author: furtherafrica.com

General Electric (GE) has upgraded the gas turbines at the Songas Ubungo Power Plant in Dar es Salaam, Tanzania. The upgrade of three GE LM6000PA and one LM6000PC aero-derivative gas turbines is expected to improve the efficiency of the Songas Ubungo Power Plant, which delivers more than 20 per cent of the grid-connected power in Tanzania. Songas managing director Nigel Whittaker said: “We are very pleased with GE’s execution because it was completed safely and ahead of schedule, with great commitment and consistency across the four LM6000 units. “The successful completion of this project not only improves Songas’ performance levels,…

Impact investing has been a buzzword for quite some time, but in reality, for most financial professionals, it is still somewhat of a new concept and quite often misunderstood. Capital deployed with the purpose of generating measurable social or environmental impact has been available for ages; however, attaching an expectation of financial returns demands liability from everyone involved and translates into sustainable projects with a real developmental impact. FurtherAfrica met with Christelle Kupa, a rising star in the African impact investment scene to talk about the market misconceptions and to learn more about how Uhusiano Capital is taking the lead to connect European…

African Development Bank Vice President Mateus Magala told Lusa that Mozambique faces the challenge of putting natural resource gains at the service of inclusive and sustainable development. “The big challenge for the next decade is how to put these huge natural resources at the service of the accelerated, inclusive and sustainable growth of Mozambique’s economy,” head of AfDB’s Corporate Services and Human Resources, Mateus Magala, said. Magala is in Mozambique to witness the signing of financing agreements for the Temane – Maputo power transmission line on Wednesday. Also Read: AfDB joins private equity firm AfricInvest for Africa equity kitty The AfDB…

I won’t go into details (you will have to seduce me first) but the country has genuinely a special place in my heart. And trust me, I’ve been around, so that means a great deal to me. I don’t usually get this personal – in fact I don’t think I ever did – but last week as I visited Maputo I came across a truly remarkable initiative whilst getting involved with a special economic zone. Let’s be honest, Corporate Social Responsibility is often seen by corporations as just another item on their checklist as they make their way to approving…

African nations that have been slow to develop disposal facilities while mountains of trash pile up at sites will begin receiving support from the Japanese government in the form of waste disposal management and human resources cultivation. A nation with a high level of garbage disposal expertise, Japan is expected to declare its support for countries at the Seventh Tokyo International Conference on African Development (TICAD7) taking place in Yokohama from Aug. 28. Japan will also show what waste management initiatives African nations will be able to take in the short term while keeping down costs. In some African nations,…

One million Africans are set to benefit from emerging digital training organized by the United Africa Blockchain Association (UABA). UABA, a non-profit organization based in South Africa is committed to promoting the adoption of blockchain technology in Africa. According to the announcement, UABA plans to use a Train the Trainer model through boot camps and hackathons to reach out blockchain and crypto community in African. These exercises are scheduled to start in September 2019 and will target mainly women and youths. The sessions will initially be held on a weekly basis in Johannesburg, South Africa. The organizers also plan to set up this training in…

Special Economic Zones is a concept still in its infancy yet progressive in Zimbabwe. In general, Special Economic Zones exist to attract investments in particular regions of a country. In which, those investing in SEZs benefit from several fiscal and non-fiscal incentives established by the government of that particular country. In the passages to follow, I intend to outline the incentives for operating in Zimbabwe’s SEZs as well as, explaining the finer details of regulation and bodies which govern these zones. To begin with, the Special Zones Act was enacted in November 2016 as part of the government’s efforts to…

1. Legal analyses 1.1 Concept of Angolan oil company Under Presidential Decree Law no. 3/12, of 16 March 2012 (hereinafter the “Presidential Decree”), an oil company – one which has its scope or object participating in oil operations – is deemed Angolan (= owned by Angolan) if the respective share capital are 100% owned by Angolan citizens. 1.2. Benefits to the Angolan oil company The benefits granted to Angolan oil companies under the Presidential Decree are as follows: Exemption from the signature bonus. Given the phase of the operations, this benefit is not applicable to this case; Reduction of petroleum…

The French are coming! Last Friday Anadarko’s takeover bid by the Occidental Petroleum (Oxy) was officially approved by 99% of its shareholders at an extraordinary general meeting resulting in the combination of two of the largest oil producers in the Houston area. Although this was the largest deal in recent years, it placed Oxy in a challenging position. The company took some $40 billion in debt to make the deal a reality, including Anadarko’s existing debts. In addition, early this week the market reacted nervously as Evercore ratings downgraded their stock saying that Anadarko’s acquisition makes the company “larger but…

The logistic Northern Development Corridor is definitely the most challenging of the three logistics corridors that Mozambique holds (Maputo, Beira and Nacala). Because it is a bi-national concession management project, manages two ports in one country and two railway systems in two different countries, multimodal transport and cargo handling, all in a huge geographic area, among many others challenges. Being today the preferred export gateway of coal from Tete (Mozambique), Nacala port is preparing itself for the future materializing its potential into concrete actions. And the future looks exciting. The Minister of Transport and Communications, Carlos Mesquita, quoted yesterday by the daily…