The Corporate Council on Africa is another stellar organization that puts out daily news clips for which you can sign up. A little diffrent direction that ACSS which is good because between the two you get a well-rounded look at the daily news.
CCA Daily News Clips
Tuesday, March 29, 2011
China Will Increase Investment in Africa: Standard Bank
Finance Asia
According to South Africa-based Standard Bank, mainland China maintained its position as Africa’s largest trading partner in 2010. Standard Bank, in which Industrial and Commercial Bank of China has a 20% stake, estimates the value of mainland investment into Africa will increase to $50 billion by 2015. Read more>> <http://www.financeasia.com/News/252619,china-will-increase-investment-in-africa-says-standard-bank.aspx>
South African Airways Contracts Quovadis to Help Reduce Fuel Burn
Defence Web
Airbus subsidiary Quovadis has been contracted by South African Airways to design required navigation performance procedures for Cape Town International Airport in an effort to reduce fuel burn and Carbon Dioxide emissions. Read more>> <http://www.defenceweb.co.za/index.php?option=com_content&view=article&id=14455:south-african-airways-contracts-quovadis-to-help-reduce-fuel-burn&catid=35:Aerospace&Itemid=107>
INFRASTRUCTURE
Microsoft Unveils South African Empowerment Deal
Reuters Africa
Microsoft South Africa, a unit of the world's largest software firm, will invest 475 million rand in four black-owned software firms to meet black economic empowerment rules. Read more>> <http://af.reuters.com/article/investingNews/idAFJOE72S02A20110329>
TransCentury Set to Invest $300 Million in Kenya Rail System
Business Daily Africa
The cost of transporting goods across Kenya into Uganda could reduce significantly in the next five years following investment firm TransCentury’s plans to inject $300 million into Rift Valley Railways. Read more>> <http://www.businessdailyafrica.com/Corporate+News/TransCentury+set+to+invest+Sh24+billion+in+rail+system/-/539550/1134784/-/14ogjpq/-/index.html>
World Bank Injects $100 Million Into Kenya Slum Upgrading Plan
Africa Review
The World Bank has advanced Kenya $100 million to upgrade infrastructure in the country’s slums and improve their security of tenure. Read more>> <http://www.africareview.com/Business+++Finance/World+Banks+plan+for+Kenyan+slums/-/979184/1135028/-/7foi0jz/-/>
Dealer Deepens Presence in Heavy Equipment Sector
Business Daily Africa
Heavy equipment supplier Mantrac has expanded its operations in Kenya to tap into a construction boom triggered by the ongoing infrastructure and housing projects across the country. Read more>> <http://www.businessdailyafrica.com/Corporate+News/Dealer+deepens+presence+in+heavy+equipment+sector/-/539550/1134804/-/d8yttvz/-/index.html>
South Africa to Meet 2013 Renewable Energy Target : Official
Reuters Africa
South Africa will accelerate its renewable energy program to meet a target of producing 10,000 gigawatt hours by 2013, an energy official said on Tuesday.
Senegal to Build ‘Seven Wonders’ Complex in Capital: Le Soleil
Bloomberg
Senegal plans to build “The Seven Wonders of Dakar,” a 27 acre zone that will include a national theater, a national library, an architectural school, a museum of African history, an art museum, an art school and a concert hall, Le Soleil reported. Read more>> <http://www.bloomberg.com/news/2011-03-29/senegal-to-build-seven-wonders-complex-in-capital-soleil-says.html>
Nigeria, Korean Firm in Talks Over Sale of Egbin Plant
The Nation
The Federal Government is discussing with a South Korean firm, Korean Electric Power Corporation, to sell Egbin power plant. Read more>> <http://thenationonlineng.net/web3/business/32012.html>
Angola to Build 2 Million Ton a Year Cement Plant: Angola Press
Bloomberg
Nova Cimangola, Angola’s biggest cement maker, plans to build a factory to produce as much as 2 million metric tons of the building material a year, Agencia Angola Press reported. Read more>> <http://www.bloomberg.com/news/2011-03-29/angola-to-build-2-million-ton-a-year-cement-plant-angop-says.html>
EXTRACTIVE INDUSTRIES
Sidi Kerir, Egypt Government to Form $1.18 Billion Ethylene Production Company
Bloomberg
Sidi Kerir Petrochemicals Co. and two Egyptian government companies are investing $1.18 billion in an ethylene venture. Read more>> <http://www.bloomberg.com/news/2011-03-29/sidi-kerir-government-to-form-ethylene-production-company-1-.html>
Zambia to Decide this Year on Refinery's Future
Reuters Africa
Zambia will decide by the end of this year on the future of its sole refinery which may include upgrades to its units or the country opting to import products instead, an official said late on Monday. Read more>> <http://af.reuters.com/article/investingNews/idAFJOE72S03T20110329>
Angola’s Sonangol to Build 200 Gas Filling Stations, Export Liquefied Natural Gas in 2012
Bloomberg
Sonangol SA, Angola’s state oil company, will build another 200 gasoline filling stations by 2015, adding to the 439 it already operates. Read more>> <http://www.bloomberg.com/news/2011-03-29/angola-s-sonangol-to-build-200-gas-filling-stations-export-lng-in-2012.html>
Dominion Faces Tullow in Search for Oil in Kenya
Business Daily Africa
The scramble for oil exploration blocks in Kenya has heightened as companies make last-ditch efforts to resolve the puzzle of why the country, despite sitting on a rich vein that has yielded oil elsewhere, is yet to strike wells with tangible quantities for exploration. Read more>> <http://www.businessdailyafrica.com/Corporate+News/Dominion+faces+Tullow+in+search+for+oil+in+Kenya/-/539550/1134214/-/aeep81z/-/index.html>
Afren, Focused on Africa, Has ‘Rich Acquisition Pipeline’ After Bond Sale
Bloomberg
Afren Plc, a U.K. oil and gas explorer focused on Africa, has a “very rich acquisition pipeline” after exceeding a target for bond sales, Chief Executive Officer Osman Shahenshah said. Read more>> <http://www.bloomberg.com/news/2011-03-29/afren-focused-on-africa-has-rich-acquisition-pipeline-after-bond-sale.html>
Kenol Kobil Moves Into Non-Oil Products to Grow its Earnings
Business Daily Africa
Kenol Kobil is deepening its reach into the non-oil products market to grow revenues and reduce over-reliance on fuel revenues. Read more>> <http://www.businessdailyafrica.com/Corporate+News/Kenol+Kobil+moves+into+non+oil+products+to+grow+its+earnings/-/539550/1134816/-/7cshde/-/index.html>
BANKING & FINANCE
Tanzania Issues Tender for Consultants on Stock Exchange Demutualization
Bloomberg
The Bank of Tanzania said it’s seeking consultants to provide advice on the planned demutualization of the Dar es Salaam Stock Exchange. Read more>> <http://www.bloomberg.com/news/2011-03-29/tanzania-s-central-bank-tenders-for-consultants-on-bourse-demutualization.html>
France's BNP Paribas to Increase African Presence
Reuters Africa
French bank BNP Paribas will soon open an office in Nigeria and boost its South African investment banking presence, an official said on Tuesday. Read more>> <http://af.reuters.com/article/investingNews/idAFJOE72S09L20110329>
Kenya Islamic Banking Deepens Financial Services Uptake
Business Daily Africa
Islamic banks now control 0.9 per cent of total accounts, indicating increased penetration of financial services to a segment of the population that was hitherto excluded from the system due to its religious beliefs. Read more>> <http://www.businessdailyafrica.com/Islamic+banking+deepens+financial+services+uptake/-/539552/1134698/-/au3o7n/-/index.html>
RETAIL
Pick n Pay to Expand in Zambia
Business Day
The battle for a slice of the untapped African retail market continues to intensify as South Africa’s second largest supermarket announced the opening of a second store in Zambia yesterday. Read more>> <http://www.businessday.co.za/articles/Content.aspx?id=138494>
Kraft Foods 'Double in Five' Plan Looks to Africa
Business Day
Kraft Foods SA on Monday said it had invested 160 million rand in a pilot skills program in its sub-Saharan African operations as it positioned itself to double its revenue in five years in an increasingly competitive fast moving consumer goods market. Kraft Foods SA is part of US-listed Kraft Foods. Read more>> <http://www.businessday.co.za/articles/Content.aspx?id=138445>
AGRICULTURE
Tanzania Investment Bank to Lend $13.3 Million: The Guardian
Bloomberg
Tanzania Investment Bank Limited plans to lend $13.3 million to agricultural businesses, The Guardian reported, citing Eric Hamisi, a zone manager at the fund. Read more>> <http://www.bloomberg.com/news/2011-03-29/tanzania-investment-bank-to-lend-13-3-million-guardian-says.html>
Rwanda Plans Weather Early Warning System to Boost Farm Revenue
Bloomberg
Rwanda plans to establish an early- warning system for extreme weather to help boost revenue from farming, said John Ntaganda Semafara, director of meteorology at the Infrastructure Ministry. Read more>> <http://www.bloomberg.com/news/2011-03-29/rwanda-plans-weather-early-warning-system-to-boost-farm-revenue.html>
BEVERAGE
Heineken Submits Highest Bids for Ethiopian State-Owned Brewing Companies
Bloomberg
Heineken NV, the world’s third- largest brewer, submitted the highest offer for an Ethiopian brewery being sold by the government and is the only bidder for a second one, the country’s privatization agency said. Read more>> <http://www.bloomberg.com/news/2011-03-29/heineken-submits-highest-bids-for-ethiopian-state-owned-brewing-companies.html>
MEDIA
Kenya Media Sector New Frontier for Global Firms
Business Daily Africa
Kenya’s media sector is set to become a new frontier for investment as global giants move to cash in on increased demand for specialized services. Read more>> <http://www.businessdailyafrica.com/Corporate+News/Media+new+frontier+for+global+firms/-/539550/1134830/-/iu4as8z/-/index.html>
EBCAM
Click here <http://www.africacncl.org/ps4d/EBCAM-MEMORANDUM_N%C2%BA_53-2011.pdf> for English and French news articles on the continuing conflict in Libya, and more.
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