• The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
• The Lesotho Highland Development Authority will implement the part of the project that falls within Lesotho’s borders.

The board of directors of the African Development Bank Group has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project.

In a statement, AfDB said the multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.

The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries.

The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer …

• The African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory
• Even though growth forecasts remained muted at the beginning of 2021, this was due to several African countries understandably grappling with persistent outbreaks of COVID-19
• North Africa and West Africa jointly attracted the largest share of PE deals by volume

Private equity fundraising in Africa managed to reach US$1.3bn in the first half of 2021 when including final and interim closes, a new report has revealed.

The 2021 H1 African Private Equity Data Tracker released by the African Private Equity and Venture Capital Association (AVCA) indicates that this is despite widespread decline felt by most economies across the globe, owing to the impact of the coronavirus pandemic.

The report noted that the African private equity (PE) industry, continues to prove itself and is once again on a growth trajectory, mirroring the gradual …

• The Africa Pulse report notes that Sub-Saharan Africa exits recession this year, but recovery is still timid and fragile
• It adds that the region is reforming, and notes that what is most needed to boost and sustain economic recovery is financing

The World Bank now says that Sub-Saharan Africa is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 per cent in 2021.

This is one per cent higher than the April 2021 forecast according to its latest edition of Africa’s Pulse.

The bank said that the rebound is currently fueled by elevated commodity prices, a relaxation of stringent pandemic measures, and recovery in global trade.

“Commodity prices remain well above their pre-pandemic levels, with several reaching all-time highs. Oil prices rose above their pre-pandemic levels in the first half of 2021 but have plateaued more recently due to demand …

• The private sector in the community has been urged to drive the buy and build East Africa initiative
• Foreign Direct Investments (FDI) in the EAC dropped by 43% to USD. 4.9 billion in 2020
• Jobs declined by 2%, wiping out the gains made in previous year

Trade between East Africa Community countries dropped by 5.5% to USD. 5.9 billion in 2020 due to COVID-19 while exports from the bloc to the world hit 16.2 billion in 2020 a 3% boost in comparison to  2019.

This is according to the East Africa Business Council CEO John Bosco Kalisa who urged the private sector in the community to drive the buy East African, build East Africa narrative.

He added that the campaign is central in driving the economic recovery agenda for the EAC bloc amid COVID-19 pandemic.

He spoke during a webinar on EAC Trade & Investment Recovery amidst COVID-19 organized by …

• The cost associated with policy instability and unpredictability is often passed down to consumers
• In 2020, the manufacturing industry in Africa experienced reduced demand and depressed production capacity

The biggest challenge that the manufacturing industry faces in Africa is unpredictable business environments.

This is according to the Chief Executive Officer of Kenya Association of Manufacturers Phyllis Wakianga who says the sector is faced with unpredictable fiscal and regulatory policies that discourage the industry from scaling up their businesses.

She adds that the situation also leads to investors seeking more suitable, predictable and secure markets to relocate their businesses.

“Unfortunately, the cost associated with policy instability and unpredictability is often passed down to consumers, whose spending power has been crippled by the ongoing pandemic,” he says in an exclusive interview.

Wakianga also reveals that such instability is a blow to manufacturers, who are struggling to reduce costs, in a highly uncertain …

Anglo American, the mining behemoth took the decision on May 7th, 2021 to divest from its South African thermal coal and demerge its assets in this space into a separately listed entity that it chose to name Thungela Resources. The name “Thungela” comes from the Zulu word meaning to “ignite” or to “set alight” or to “set on fire”. This new mining outfit was formally demerged and listed on the Johannesburg and London Stock Exchanges on June 7th, 2021 and it presented its first set of interim financial results as a standalone entity in July. Its results exceeded expectations from the market which was quick to subscribe to its shares and doubled its share price over the course of the month. The company’s name seems very instructive given this background. It has literally set light to its shares by delivering a very impeccable set of numbers …