Your curated selection of weekly Africa business and investment headlines.
Welcome to Africa Vantage, the Africa business and investment section of the Emerging Real Estate Digest—your insider's guide to investing and doing business on the African continent. Stay informed about the Lobito Corridor with our "Thoughts on the Corridor" section, and keep up with general business trends across Africa through "Africa Vantage."
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Headlines
📸 Congo River’s Electricity Generation Potential is Immense
🎦 DBSA Commits $200 Million to Lobito Corridor
🎦 South Africa’s President Meets Musk to Discuss 💰
📸 DRC and Zambia Contain Africa’s Largest Copper Reserves
🎦 Many Emerging Markets are Performing Better Than U.S. Says Mark Mobius
Africa
📰 The World’s Poorest Countries Have Experienced a Brutal Decade
Almost all of the progress in the fight against poverty was achieved in the first 15 years of the 2000s. In 2022 just one-third as many people left extreme poverty as in 2013. Poverty is a thing of the past in much of Europe and South-East Asia; in much of Africa it looks more ingrained than it has in decades… Read More
📰 Botswana Licences its First Manganese Mining Project
Giyani Metals (Canadian) becomes the country’s first battery-grade manganese producer after winning a 15-year concession. This will be one of the few high-quality manganese projects outside of China which controls 90% of global high-purity manganese supply. The demonstration plant is under construction in Johannesburg. The country is reliant on gems but has two operating coal mines and three copper mines… Read More
📸 Congo River’s Electricity Generation Potential is Immense
The Congo River is Africa’s second largest (4,700 km) and second in the world in terms of volume of water. It has the greatest hydro potential in Africa representing 13% of the world’s total hydropower potential, enough to supply the entirety of sub-Saharan Africa. The Congo basin presently contains 40 hydropower plants. (source: @AfricanHub_)
📰 Zimbabwe’s New Currency Faces Headwinds Five Months On
The gold-backed ZIG is the nation’s sixth attempt at a stable currency in 15 years. It was introduced in April at 13.6 ZIG per USD and has since lost 80% of its value on the black market. On Friday it fell over 40% against the dollar… Read More
🎦 DBSA Commits $200 Million to Lobito Corridor
[videos for subscribers only]
📰 South Africa Seeks to Reform Faltering Black Empowerment System
The ANC losing its 30-year majority has opened the door to reforming or removing racial considerations in hiring and procurement practices within South Africa. Two decades after the race-based regulations were put in place income inequality is the worst in the world and unemployment rates for all remain high, according to the World Bank… Read More
🎦 South Africa’s President Meets Musk to Discuss 💰
[videos for subscribers only]
📰 Lobito Corridor Concessions Granted to Extend the Railway to Tanzania
The new railway will connect Angola and Zambia to Tanzania and the Indian Ocean… Read More
📸 DRC and Zambia Contain Africa’s Largest Copper Reserves
📰 China Mining Heavyweights Partner with Zimbabwe on Lithium Mine
Chinese miners Zhejiang Huayou Cobalt Co. and Tsingshan Holding Group Co. plan to build a $250 million lithium mine at Sandawana in the country’s south to produce 500,000 tons of lithium concentrate annually. Lithium prices have tumbled almost 90% since late 2022. Lithium mined in Zimbabwe will account for 10% of global supply this year… Read More
📰 Exxon Plans $10 Billion Oil Investment in Nigeria, Presidency Says
The oil giants plans to focus on developing its Owo project with the investment, along with an additional $2.5 billion annually to boost the production of existing assets. In 2023 Exxon sold its onshore assets to Seplat Energy for $1.3 billion… Read More
📰 HSBC to Exit South African Market with Sale of Unit to RMB
The deal involves the transfer of the branch’s clients, banking assets and liabilities and employees to FirstRand. In addition, Absa Group Ltd. has agreed to provide HSBC’s global equities and securities finance clients with continued access to the South African market… Read More
🎦 Many Emerging Markets are Performing Better Than U.S. Says Mark Mobius
“Lower interest rates in the US typically mean more capital flowing back to higher-yielding emerging markets, where investors can chase better returns.”
[videos for subscribers only]
