Browsing: manufacturing

While China is not investing much in Africa’s manufacturing, there is a lot that is happening to boost the sector, an indirect benefit of its presence on the continent. 

After surpassing the US in 2009, China became Africa’s largest trading partner.  The Asian giant’s hegemony over the continent has ruffled feathers globally as hitherto allies and financial muscles become decrepit, unable to keep the investment pace by the Chinese.

For perspective, China’s trade with Africa has exploded.  From trade worth US$10 billion in 2000, the Chinese are now controlling an estimated US$208 billion, up from US$155 billion in 2017 according to the UN Comtrade.

Read: U.S. Beware: China is ahead of the game

The South China Morning Post reported in January that China’s trade with Africa grew 2.2 per cent to hit the US$208 billion mark. 

Prior to this, and …

Twiga Cement (TPCC on the Dar es Salaam Stock Exchange) on Friday, May 22, 2020, released its Annual Report and audited accounts for the year ended 2019. Revenues grew 6% and net profits rose 5% in 2019 from the year earlier. Dividends were steady at TZS 290 per share for the third year running.  

Twiga is the dominant cement company in Tanzania. It is the 19th-biggest company overall in East Africa by market value and the fifth-biggest in Tanzania, according to the latest African Business rankings. 

The company is a subsidiary of German multinational Heidelberg Cement, which owns 69.3%. The other 30.7% trades on the DSE and is owned by thousands of small shareholders and investment funds.  

Twiga has a huge competitive advantage over the other cement industry players in Tanzania, because its production facilities are on the outskirts of Dar es Salaam. Cement is heavy and expensive …

The Belt and Road Initiative is a China-led strategy to strengthen global trade links across the world, in particular between Asia, Africa and Europe…

The City of Cape Town has announced a range of measures to support the local boat building industry to position it as a premier global hub for this fast-growing industry.

Cape Town is the largest boat building city in South Africa and the second largest producer of recreational catamarans globally.

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“Cape Town’s boat building industry has grown by 28.8 per cent year-on-year since 2012,” the City’s Mayoral Committee Member for Economic Opportunities and Asset Management, James Vos, said at an event this week. “The industry exports 90 per cent of the products produced and attracts a positive trade balance of around US$73 million (over R1 billion) annually.

“The 40-plus boat yards and 3,500 specialist staff produce award-winning super-yachts,” he said. “The city is home to 70 per cent of South Africa’s boat builders.”

Vos said the City was keen to support sectors such as the boat building sector …