Saturday, June 15

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Mining in Africa
  • Africa homes about 30 per cent of the world’s mineral reserves, including 40 per cent of the world’s gold, 60 per cent of its cobalt, and 80 per cent of the platinum group metals.
  • Mineral resources are a critical source of revenue for Africa.
  • The interest in renewable energies in the mining industry arises from the escalating energy demand within the sector.

Mining in Africa faces ongoing challenges due to environmental degradation and social conflicts with local communities. Deforestation, land degradation, and air pollution are persistent issues linked to mining activities. However, effective prevention and mitigation measures can alleviate these impacts.

Africa’s mineral wealth is staggering. The continent homes about 30 per cent of the world’s mineral reserves, including 40 per cent of the world’s gold, 60 per cent of its cobalt, and 80 per cent of the platinum group metals. The Democratic Republic of Congo (DRC), for instance, with

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USD/ZAR trading
  • USD/ZAR pair is one of the most closely followed forex pairs in the country and FX traders will be wondering how to take advantage of the changing performance of the pair over time.
  • Traders in the country pay close attention to the pair’s performance and seek to take advantage of major short-term and long-term price fluctuations.
  • For this reason, the use of technical indicators, and often a combination of a few indicators, can help traders more accurately gauge the direction of the price of the pair.

Forex trading has long been a popular method of accumulating and safeguarding wealth in South Africa. However, the underlying economic issues of the economy have adversely affected the performance of its currency, the South African rand (ZAR).

The USD/ZAR pair is one of the most closely followed forex pairs in the country and FX traders will be wondering how to take advantage of the …

Sports in Africa
  • Africa has traditionally been known to have vast untapped potential, and sports are no exception.
  • Sports tourism has gained popularity, with tourists traveling to Africa to attend sporting events or participate in sports-related activities.
  • Sports have become a booming investment sector in Africa accompanying the continent’s high-speed transformation.

Sports in Africa

Sports in Africa have immense positive socio-economic and cultural results on the communities in which they are embraced.  From professionals to youth, sports impact many facets within a community through increased financial resources, camaraderie, and teaching fundamental life skills – such as working hard to achieve a goal, working within a team to better the collective group, and playing by the rules. In Africa, however, the role of sports in economic and social development has yet to be fully realised. 

Africa has traditionally been known to have vast untapped potential, and sports are no exception. Sports can do much

gold industry south sudan
  • South Sudan is recognised for its vast mineral resources, including a burgeoning gold industry.
  • Over 50 alluvial sites near the Luri River, about 40 km southwest of Juba, have reported gold concentrations.
  • Other alluvial gold concentrations have been found near the Kinyeti River, Nimule, and northeast Karpeto.

Globally, South Sudan is recognised for its vast mineral resources, including a burgeoning gold industry. This industry represents promising opportunities for collaboration with established gold producers, enabling the country to leverage its expertise for enhanced exploration, extraction, and value addition.

For the first time in its eight-year history, the South Sudan Oil and Power Conference and Expo has been extended to four days to include a concurrent mining forum. This forum aims to explore and promote South Sudan’s untapped mining potential.

It invites international investors and private companies to participate and engage directly with South Sudan’s Ministry of Mining, offering a unique opportunity …

Saudi Woodshow
  • Inaugural event promises to be a cornerstone in the region’s wood and woodworking machinery industry
  • As construction projects continue to increase, the demand for woodworking machinery is expected to escalate
  • Saudi WoodShow is showcasing an impressive line-up of exhibitors, including renowned companies such as Al Arak Wooden Manufacturing Company

 Thousands of delegates are converging in city of Riyadh for the Saudi International Wood and Woodworking Machinery Exhibition (Saudi WoodShow) is all set to close tomorrow, May 14. Organized under the banner of WoodShow Global, this inaugural event promises to be a cornerstone in the region’s wood and woodworking machinery industry.

Globally, woodworking machinery market is projected to experience a steady Compound Annual Growth Rate (CAGR) of 4.5 percent between 2023 and 2032, fueled by the robust expansion of the construction sector worldwide.

With the industry witnessing significant growth momentum, the woodworking machinery market, valued at $4.9 billion in 2022, is …

startup evolution in Africa
  • “Africa is like China 20 years ago, you see where China is now, so Africa is moving there,” Nael Hailemariam, Founder/CEO Chapa tells global leaders, and investors at AIM Congress 2024.
  • Africa’s startup evolution is on, fueled by innovation and a youthful demographic dividend.
  • This comparison of Africa to China’s meteoric rise serves as a compelling narrative for investors seeking untapped markets brimming with promise.

A panel discussion titled “The New Geographical Focus of Startups: Spreading Digital Innovation to Africa and Other Places” at the ongoing AIM Congress 2024 in Abu Dhabi has shed light on the startup evolution unfolding across Africa.

Expert speakers lifted the lid on the continent’s burgeoning potential, citing untapped opportunities that are ripe for investment. Nael Hailemariam, CEO/Cofounder of online payment gateway Chapa, captured Africa’s momentum, likening it to China’s trajectory two decades ago. “Africa is like China 20 years ago, you see where …

Kenyan shilling on an upward trajectory boosting investor confidence
  • From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).
  • The Capital Markets Soundness Report indicates a more stable shilling, which consequently positively influenced the equity markets, which improved compared to the quarter ending December 2023.
  • The four market indices, NSE20, NSE25, NASI, and NSE10, closed at 1752.43, 2975.42, 113.09, and 1155.41 points respectively, an increase from 1,501.16, 2,380.23, 92.11, and 907.51 points.

Kenyan shilling on the rise

Nairobi Securities Exchange (NSE) was among the top African performers in the first quarter of 2024, buoyed by improved investor confidence that reduced outflows.

From January to March, investor confidence improved notably due to the stabilisation of the domestic currency (Kenyan Shilling), according to the Capital Markets Authority (CMA).

The Capital Markets Soundness Report for the period under review indicates a more stable shilling, which consequently positively …

Madagascar's first gold refinery birthed at AIM Congress 2024
  • Madagascar’s first gold refinery following a strategic partnership and support from the United Arab Emirates.
  • Andry Rajoelina, President of Madagascar, terms the move “a major step in the development” of the country’s mining sector.
  • At the AIM Congress 2024, Madagascar is marketing its rich potential as an emerging market and its pivotal role in regional trade dynamics.

Madagascar’s first gold refinery

Madagascar is set to join the elite club of countries with gold refinery plants in the world following strategic partnerships and support from the United Arab Emirates (UAE). In his keynote address at the opening ceremony of the 13th edition of the AIM Congress in Abu Dhabi, Andry Rajoelina, President of Madagascar, outlined his nation’s strategic vision for sustainable economic growth and development.

While highlighting the importance of strategic partnerships and investment, President Rajoelina noted Madagascar’s rich potential as an emerging market and its pivotal role in regional …

Kenya Ports Authority
  • Legal ruling favors Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA), allowing clearance of Sh145 million consignment despite ownership objections.
  • Dispute centered on transfer of property and risk to Dooba Enterprises Ltd, with objecting companies claiming previous ownership based on contractual agreements.
  • Case highlights importance of clear contractual agreements, documentation, and effective dispute resolution mechanisms in international trade.

An array of goods valued at $1 million (KSh145 million) is set to be cleared from the Mombasa port after a legal battle between five companies and two key entities, the Kenya Ports Authority (KPA) and Kenya Revenue Authority (KRA). The consignment, held in four containers, faced opposition from the companies, including Ningbo Ningshing Trading Group Inc., Top Anchor Industries, Ningbo Jiaje Water-Meter Manufacture Co. Ltd Inc., Ningbo Texilong Pipe Industry Co. Ltd, and Quanzhou Datouyi Technology Co. Ltd.

However, Mombasa High Court judge Kizito Magare ruled in favor of KPA

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