Browsing: South Africa

Tanzania’s cement demand is estimated to have clocked 5.9Mt and is growing fast. Maweni Limestone Ltd will be China’s first…

In Africa, South Africa has the biggest Airbnb market, accounting for half the listings in Africa.
In 2021, Airbnb registered 2.9 million hosts, with 100,000 of those coming from Africa. Approximately 14,000 hosts are now joining every month. It has reported 7 million listings and has spread to over 100,000 cities in 220 countries and regions.
South Africa boasts 43,400 listings and an income of above US$95 million; Morocco has 21,000 listings and an income of above US$22 million; Kenya has 5900 listings and a US$3.9 million income.

In his ruling, Judge Bloem said that Shell had failed to prove the safety of the project against the claims made by environmental experts and the local community, and that there had been a substantial flaw in the consultation process with the locals in the Wild Coast.
Protests against Shell exploration have gained 85,000 signatures with over 35 fuel stations dumping the company.
The local communities expressed their disappointment, saying that their customary rights to the land where they fished and did their religious activities had not been respected. Shell quietly announced the commencement of the seismic survey on November 4, 2021.

The Southern Africa region received the most significant share of Foreign Direct Investment in 2020  Nigeria, South Africa and Angola…

When commodity prices began to soften in later years it seemed more of a blunder to have diversified the metals portfolio of the business than it appears a stroke of genius today.

With softening metal prices came the need to conserve cash and so dividend flows dried up. The company did not cease its expansion plans going so far as to pile on large amounts of United States dollar-denominated debt purchasing US-based platinum miner Stillwater and swallowed up Lonmin in the process. The share price then cratered when news broke that the company had experienced fatalities at its South African mines. In some circles of the investment community, others joked that they would not invest in Sibanye Stillwater as a matter of moral principle.

The share price went down reaching an all-time low of around R 7.

In the cement industry, the South African Government has taken a protectionist stance, banning the import of cement especially for infrastructure projects that it is sponsoring. The ban came from Treasury in October.
This decision has been widely celebrated by the cement sector which has been struggling since 2014. This period is profound in that cheap cement flooded the South African market and reduced the profits of local producers.
These cement producers according to industry body, Cement and Concrete South Africa have been under siege from cheap imports from Pakistan, China, and Vietnam.

Kenya and South Africa have announced the signing of eight new agreements  The agreements are in areas including tourism, migration…

Gabon is one of few countries with a carbon-negative economy, thanks to the Congo Basin’s immense tropical forests, which absorb more greenhouse gases than the country’s companies, cars, and towns emit.

It just approved an ambitious climate law to ensure that its economic bases are on forests and agriculture rather than fossil fuels.

Outside assistance is required to attain this goal so that the government can continue to enhance living standards.
Many African countries rely on coal for electricity and have refused to sign a declaration signed by more than 40 countries this week calling for an end to the most polluting of fossil fuels.

Given that South Africa is experiencing similar power generation problems, Robertson believes that if Zimbabwe does not overcome its power difficulties, this will impede economic growth in 2021.

The mining and industrial industries will almost certainly curtail output.

Tax and export income will decline, as will employment growth. This is unfortunate because Zimbabwe wouldn’t be going through all this pain if it had started constructing new power plants earlier.

Mergers and acquisitions worth US$52B were completed in South Africa during the first half of 2021, with the value of deals growing by 958% from 2020 with the tech sector in the lead according to Refinitiv Data that provides financial markets and infrastructure data . According to Digest Africa, the value of mergers and acquisitions in the African tech ecosystem in 2018 was US$504M with 24 out of the 39 deals taking place in South Africa making it the country with the most mergers, acquisitions and exits among the KINGS countries.