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The second annual Invest in African Energy Forum was held in Paris from May 14-15, uniting over 750 African officials and global investors with the aim of increasing investment in African energy projects. The event served as a clarion call to accelerate sustainable energy in Africa, with discussions centered on financing African renewable energy projects, advancing clean gas projects and mapping a just energy transition in Africa.
Despite the rallying support by Europe and the U.S. to make energy poverty history in Africa, environmental organization Friends of the Earth chose to disrupt proceedings at the end of the two-day event, causing panic by deploying fake grenades and driving delegates and officials out of the venue. This blatant attack on the companies and authorities that are making great strides towards developing Africa is a blatant attack on the continent itself, and shows the biased and anti-African agenda of the organization.
This is not the first time that Friends of the Earth has taken direct action towards keeping Africa undeveloped and in the dark. In Mozambique, the organization has been fighting against the development of the country's natural gas projects – a clean, widely available and affordable energy resource for the country. The group sued the UK government over its financial support for Mozambique LNG – a 43 million ton per annum offshore project developed by France's TotalEnergies. It is worth noting that since the start of production at the Eni-led Coral Sul FLNG project in 2022, Mozambique's GDP grew 6% in just one year, highlighting the role just one gas project can play in the country. Fortunately for Mozambique, the UK Supreme Court rejected the organization's application to appeal its case against a decision by the UK government to fund the gas project.
The organization's legal battles and obstruction doesn't stop there. In South Africa, their actions extend to opposing projects by companies like Shell, impeding financial support for these ventures, and therefore, deepening the country's energy crisis. Shell is trying to explore for oil and gas offshore South Africa, in a basin where major discoveries have been made in Namibia. Organizations such as Friends of the Earth continue to disrupt this, instigating legal battles that stand to deepen the country's energy crisis even further. Is eight to ten hours of loadshedding not enough for the organization?
Meanwhile, the organization continues to disrupt the development of the East African Crude Oil Pipeline (EACOP) in Uganda – a project which stands to transform both the country and neighboring Tanzania. In 2020, the organization issued a legal case against TotalEnergies for the development of the project, a battle which it continues to wage despite the support by the countries themselves for the project.
However, the African Energy Chamber (AEC) remains undeterred. Representing the voice of the African energy sector, the AEC remains committed to engaging with communities, investors and like-minded individuals who support Africa's right to choose its energy sources.
“The AEC advocates for a pragmatic approach that embraces all forms of energy, including coal, natural gas, renewables and oil. We stress the importance of constructive engagement with all parties involved and oppose actions that hinder Africa's energy progress,” stated NJ Ayuk, Executive Chairman of the AEC. “We believe that companies like TotalEnergies and Perenco, along with other international firms, are contributing positively by creating jobs and opportunities. Attacking or demonizing these companies, does not address the climate crisis.” According to Friends of the Earth's website, the vision of the organization is a “peaceful and sustainable world based on societies living in harmony with nature.” The irony here is that the organization continuously shows aggressive acts towards people, companies and events advocating for equality, justice and progress. If the organization has bothered to take part in the Paris event, listen to the discussions and witness the topics, they would realize that the very companies and projects they are attacking are the ones promoting a sustainable and clean energy future. Friends of the Earth Africa – its African-based group – calls on world governments to adopt their plan to achieve 100% renewable energy in Africa by 2050. Yet, this group's parent organization attacked an energy event that sought to promote investments in African energy – specifically, clean energy.
Friends of the Earth has proven time and time again that they are not friends of Africa. They would rather see the continent remain in the dark than developed through sustainable energy.
Distributed by APO Group on behalf of African Energy Chamber.
Good Nature Agro (https://GoodNatureAgro.com/), the Zambian company helping smallholder farmers reach the middle class, has been recognized by the Financial Times in the annual ranking of Africa's Fastest Growing Companies of 2024, focused on identifying top performers in Africa's private sector. This ranking places Good Nature Agro as number 44 on the list and the only Zambian company in the top 50.
The company has accomplished this feat through measured and consistent growth in their legume seed and commodity business lines, while increasing incomes for the more than 20,000 smallholder farmers with which they work.
2024 also marks the 10th anniversary of Good Nature Agro. Starting in 2014 with just 40 smallholder farmers in Kasenengwa District, Zambia, the company's founders have remained committed to the company's mission since day one. Today, Good Nature Agro farmers are present in all provinces of Zambia and the company has expanded its offerings to Malawi. The company has two active processing plants in Lusaka and Chipata, Zambia, an active seed breeding program and lab space, a proprietary digital platform for farmer and customer engagement, and more than 175 full-time employees. Good Nature Agro is also building a state-of-the-art export and processing facility in the Lusaka South Multi-Facility Zone(MFEZ).
Good Nature Agro Co-fonder and CEO, Carl Jensen, is thrilled with the news of the ranking, “We are proud to be included on the list, and we intend to use this opportunity to highlight our work with smallholders and the strength and potential of the Zambian agricultural economy. Credit for the strides we have made over the last 10 years goes to the hard work of our farmers, team, investors, and partners. Collectively, we are primed for a leap forward, and we will work tirelessly to move more smallholder farmers into the middle-class and emergent farmers towards generational wealth.”
On top of training, financing and production with Zambian farmers, Good Nature Agro has for the last 3 years been focusing on aggregating legume seed and commodity needs in the wider Southern and Central African region. “Being a Zambian-born and based company has strategically placed us to fulfill grain needs from beyond Zambian borders. We are exporting high-value beans, soya beans and groundnuts to food processors in South Africa, Namibia, Zimbabwe and Botswana, and we continue to prospect both production and supply in the Eastern African region. We are looking to onboard more customers and anyone looking for a reliable supply of legume seeds and commodities in and beyond the region. The Financial Times listing affirms our constant commitment to growth and service to our farmers and customers” said Sunday Silungwe, Founder and Director of Communications.
Representing Zambia alongside Good Nature Agro on the list are Zamseed (#91) and Zambeef Products (#113). The list of Africa's fastest-growing companies, compiled by Financial Times in collaboration with Statista, a research and database company, highlights advanced, modern, and thriving businesses in Africa fueling the global economy in the 21st century. The list showcases the growth of private companies across different sectors and offers a brief overview of the recent corporate landscape where technology, Fintech, and other businesses have had to adapt to a challenging environment. Good Nature Agro salutes all other companies represented as peers and examples of resilience and job creation.
Distributed by APO Group on behalf of Good Nature Agro.
Media Contact:
Company name: GoodNature Agro
Contact person name: Sunday Silungwe, Co-founder and Director of Communications
Phone number: +260 97 9392832
Article website: https://apo-opa.co/4arONQ1
Email: sunday.silungwe@goodnatureagro.com
Website: www.GoodNatureAgro.com
BCX Alibaba Cloud Academy and Arovy University have joined forces in a strategic partnership aimed at empowering students to cultivate essential skills for the expanding digital economy in Africa. The basis of this initiative is the Alibaba Cloud Academic Empowerment Programme, a pioneering effort to embed digital excellence within academic institutions globally. Arovy University, situated …
The sad history of Net1 and the Post Office shows that this is an important question
European partners have been vocal about plans to boost clean, smart and secure investments in Africa's energy sector, with the EU's Global Gateway Initiative aiming to mobilize €150 billion across the continent through 2027. Motivations for this range from securing the bloc's own energy supplies, to strengthening energy diplomacy on the continent, to generating high returns on critical infrastructure investments. Given Europe's focus on sustainable energy development, the upcoming Invest in African Energy (IAE) forum (https://Invest-Africa-Energy.com) – taking place in Paris on May 14-15 – will showcase opportunities for the European and global private sector to develop and advance natural gas, renewable energy, green hydrogen and decarbonization technologies across the continent, with a view to supporting Africa's role in the global energy transition.
LNG
As Africa looks to develop its gas for domestic and export markets, LNG (https://apo-opa.co/3UD3ivS) represents a critical investment avenue for European partners and investors. Representing a relatively clean-burning fossil fuel that can deliver energy reliably and to scale, LNG has been positioned as the fuel of the future and the key to meeting rising energy demand in Africa and globally. European majors and independents are already at the helm of developing world-class LNG facilities across the continent, from bp's Greater Tortue Ahmeyim LNG in Senegal and Mauritania, to Perenco's Cap Lopez LNG Terminal in Gabon, to Eni's Congo LNG in the Republic of Congo. The continent features myriad opportunities in the exploration, transport, processing and storage of natural gas and associated EPC contract value in establishing integrated gas value chains.
Renewables
Africa's solar potential is measured at 7,900 GW – more than 1,000 times its current solar generation capacity – while wind potential is measured at 461 GW, which equates to 100 times the current wind generation capacity. The continent is home to considerable technical potential for hydropower – which accounts for approximately 17% of its electricity generation on average – and is set to overtake Europe in installed geothermal capacity by the end of the decade. Given Africa's prolific energy needs, decentralized power solutions (https://apo-opa.co/4aRnFuC) – particularly from renewables – hold the capacity to help electrify rural parts of the continent, while aligning with net-zero targets.
Green Hydrogen
Owing to its substantial and often co-located renewable resources, Africa provides optimal conditions for the development of green hydrogen (https://apo-opa.co/4aRgItB) and green ammonia, estimated to be able to produce a surplus of 20-40 million tons of green hydrogen per year by 2050. The continent is home to several major green hydrogen projects – namely, the 15 GW Aman project in Mauritania, 3 GW Tsau Khaeb project in Namibia and 4 GW SCZONE project in Egypt. Germany has emerged as an active player in this domain by investing in and lending technical expertise to hydrogen development in Angola, Mauritania and Namibia, as well as pledging to invest €4 billion in sustainable energy projects in Africa – including renewable power, green hydrogen and critical raw mineral extraction – through 2030. The EU is targeting ten million tons of imported renewable hydrogen per year by 2030, offering development finance and production subsidies to help African countries develop their green hydrogen supplies.
Carbon Capture and Storage (CCUS)
Capturing carbon dioxide produced from burning fossil fuels or as a by-product of industrial manufacturing processes, CCUS technology represents a dynamic investment opportunity within Africa's energy transition. It holds a wide range of applications – from enhanced oil recovery to fuel production to waste-to-energy plants – and aligns with Africa's decarbonization goals, while enabling much-needed energy production. CCUS projects are already underway in South Africa's Mpumalanga Province – where it will capture carbon dioxide from coal-fired power stations – and at Egypt's Meleiha Field, part of a broader $25-million, multi-phase CCUS project. CCUS aligns closely with the EU's broader decarbonization goals and represents a strategic area of potential collaboration between European and African service providers by way of sharing best practices, technical expertise and technological innovation.
Distributed by APO Group on behalf of Energy Capital & Power.
A N$24 million (over US$1.2million) investment through a partnership between Coca-Cola Beverages Africa (CCBA) (www.CCBAgroup.com) in Namibia and Plastic Packaging has culminated in the opening of a new polyethylene terephthalate (PET) flaking plant in Okahandja which will double the capacity of the only mechanical recycler of plastic waste in the country.
The plant was officially inaugurated by the Minister of Environment, Forestry and Tourism, Pohamba Shifeta.
“The Coca-Cola system aims to drive systemic change through a circular economy for packaging. We are leading the industry to help collect and recycle a bottle or can for every one we sell by 2030. We have a responsibility to help solve complex plastic waste challenges facing our planet and society, and we're leveraging our scale and reach to achieve our sustainability goals and reduce packaging waste,” said CCBA Chief Public Affairs, Communication and Sustainability Officer, Tshidi Ramogase.
“This facility is an example of how we work with partners across business, government and civil society to support or create closed loop systems to ensure our packaging is collected and recycled or reused.
“Supporting the establishment of a circular economy for packaging has both environmental and economic benefits since recycling has the potential to create jobs and to empower the informal waste collection sector in a circular economy.
“Unlike a traditional linear economy in which packaging is made, used and disposed of; a circular economy preserves the economic value of packaging through robust collection and recycling systems,” said Ramogase.
The completion of this cutting-edge recycling facility will enable Namibia Polymer Recyclers (NPR), a subsidiary of Plastic Packaging, to recycle up to 500 tons per month.
The recycling plant transforms discarded beverage bottles made from PET material into PET flakes with an international market value. The flaking process of post-consumer PET bottles involves sorting, shredding it into PET flakes, hot-washing and drying of flakes, which are then sent for further processing into recycled PET pellets and other end-uses.
This reduces the need to use virgin PET, while diverting waste from landfills and the environment.
“We are investing in infrastructure and exploring ways to support additional recycled PET capacity in each of the regions where we operate. These investments not only provide a source of recycled content for our packaging but also create additional demand for empty packages, driving increased collection.
“At CCBA, we are a proud industry leader in developing increasingly sustainable ways to produce, distribute and sell our products. We use our industry leadership to be part of the solution to achieve positive change and to build a more sustainable future for our planet,” said Ramogase.
Distributed by APO Group on behalf of Coca Cola Beverages Africa.
Issued By:
Enid Johr
PACS Director
CCBA in Namibia
Tel: +264 81 778 5381
Email: ejohr@ccbagroup.com
Wendy Thole-Muir
Head: Reputation and Communication
Coca-Cola Beverages Africa
Tel: +27 83 795 8524
Email: WThole-Muir@ccbagroup.com
About CCBA:
CCBA is the 8th largest Coca-Cola bottling partner in the world by revenue, and the largest on the continent. It accounts for over 40% of all Coca-Cola products sold in Africa by volume. With over 18,000 employees in Africa, CCBA services more than 720,000 customers with a host of international and local brands. The group was formed in July 2016 after the successful combination of the southern and east Africa bottling operations of the non-alcoholic ready-to-drink beverages businesses of The Coca-Cola Company, SABMiller plc and Gutsche Family Investments. CCBA shareholders are currently: The Coca-Cola Company 66.5% and Gutsche Family Investments 33.5%. CCBA operates in 15 countries, including its six key markets of South Africa, Kenya, Ethiopia, Uganda, Mozambique and Namibia, as well as Tanzania, Botswana, Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini, Lesotho, and Malawi.
Learn more at https://www.CCBAgroup.com
SA on track to eliminate malaria disease by 2028
The Department of Health says South Africa is on track to achieve malaria elimination status by 2028, as outlined in the National Malaria Elimination Strategic Plan.
This, according to the department, is despite facing challenges such as heightened heatwaves exacerbated by climate change, with the potential to directly impact transmission and the burden of disease.
According to the department, malaria elimination promises both health and economic benefits, in line with the goals of the 2030 National Development Plan and the United Nations Sustainable Development Goals.
“This has the potential to also benefit the Southern African countries collectively on issues of trade, tourism, health, and economic growth,” the statement read.
While progress has been made in reducing the burden of malaria in provinces such as Limpopo, Mpumalanga, and KwaZulu-Natal, the department believes further efforts are needed to curb local transmission.
South Africa is today joining the global community to observe World Malaria Day to recognise global efforts to control malaria to reduce the burden of the disease and avoid preventable deaths.
Each year on April 25, South Africa joins the global community in recognising World Malaria Day.
READ | SA commemorates World Malaria Day
The Department of Health has since urged all stakeholders, including communities, healthcare professionals, civil society organisations and international partners to collaborate in intensifying the fight against malaria, aiming to foster a healthier and more equitable world for current and future generations.
Malaria is a preventable and curable life-threatening disease transmitted by a type of female mosquito called Anopheles, which remains a significant global health concern.
In 2022, an estimated 249 million new cases and approximately 608 000 deaths were reported, with Sub-Saharan Africa enduring the most of the burden.
In South Africa, 9 795 cases and 106 deaths were reported in 2023, demonstrating notable progress, including the subnational elimination of malaria in the King Cetshwayo District of KwaZulu-Natal.
“The government is committed to integrating the ethos of ensuring equal access to malaria prevention and treatment services for all with the principles of the National Health Insurance, which essentially has the objective of attaining Universal Health Coverage.”
The department is of the view that eliminating malaria is an ambitious task that requires sustainable resources, collaboration with neighbouring countries including Botswana, Eswatini, Mozambique, Namibia, and Zimbabwe, evidence-based policies, strong partnerships and a dedicated workforce.
“South Africa is working towards strengthening and harnessing its domestic expertise while collaborating with global partners.”
Last year, South Africa was amongst the countries that received global prestigious awards from the World Health Organisation (WHO) for their efforts to achieve important milestones towards malaria elimination.
The 2024 World Malaria Day will be commemorated under the theme: ‘Accelerating the fight against malaria for a more equitable world’, which focuses on acknowledging the varying effects of malaria on men and women, emphasising the need to address these discrepancies in prevention and healthcare access.
Malaria symptoms include headache, fever, chills, fatigue, and muscle and joint pain that occur up to three weeks after first potential exposure.
However, early diagnosis and treatment are strongly recommended as the disease rapidly progresses to severe illness, often with severe consequences. – SAnews.gov.za
Gabisile
Thu, 04/25/2024 - 11:43
A dedicated roundtable at the upcoming Invest in Africa Energy (IAE) 2024 forum in Paris will shine a spotlight on Southern Africa, with a focus on South Africa, Mozambique, and Namibia. The region boasts new discoveries in the oil and gas sector, abundant renewable resources, and promising potential for hydrogen prospects. This makes it an attractive destination for investors keen on leveraging these resources for capital growth.
During the two-day forum, delegates will gain insights into Southern Africa's status as a frontier market with first-mover advantages. From South Africa's mineral-rich terrain to Zambia's hydroelectric potential, Mozambique's liquefied natural gas (LNG) prospects and Namibia's untapped offshore reserves, the region offers diverse opportunities poised to fuel development.
Organized by Energy Capital & Power, IAE 2024 (https://apo-opa.co/3UMOOtQ) is an exclusive forum designed to facilitate investment between African energy markets and global investors. Taking place May 14-15, 2024 in Paris, the event offers delegates two days of intensive engagement with industry experts, project developers, investors and policymakers. For more information, please visit www.Invest-Africa-Energy.com. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Panelists include Godfrey Moagi, Chief Executive Officer, SANPC; Antoine Berel, Vice President Sub-Saharan Africa (South), Halliburton; Calib Cassim CFO Eskom, Paul Eardley-Taylor, Oil and Gas Coverage Southern Africa, Standard Bank and Dr. Sama Bilbao y León, Director General, World Nuclear Association. The session will be moderated by Olivier Barbeau, Managing Partner, Moore South Africa.
Namibia's recent deepwater discoveries, including Graff-1X, Venus-1X, La Rona-1X, Jonker-1X, Lesedi-1X, Mopane-1X & 2X, Mangetti-1X, and its most recent Enigma-1X, have intensified exploration activities within the Orange Basin. Although significant potential exists, substantial investment is need to fully develop these resources for commercialization. Recently, Namibia's Minister of Finance announced that by the end of 2024, Namibia anticipates a final investment decision from multinational energy companies, TotalEnergies for its Venus-1X discovery and Shell for its Graff-1X discovery. This is a step towards accelerating oil production, set for 2029.
With two major LNG projects underway — TotalEnergies' Mozambique LNG and ExxonMobil's Rovuma LNG — Mozambique has solidified its position as a key player in both the Southern African and global gas markets. Moreover, Mozambique made significant strides by exporting its inaugural LNG cargo to Europe in 2022, facilitated by Eni's Coral Sul floating LNG facility. With robust trade agreements in place and a growing capacity, Mozambique presents a dependable and burgeoning gas market. With over 100 trillion cubic feet of proven reserves, the nation offers ample opportunities for gas exploration, production, transportation, storage, and utilization projects.
Meanwhile, South Africa's Renewable Independent Power Producer Programme (REIPPP) is expanding renewable energy capacity. Bid Window 7, launched in January 2024, aims to acquire 3.2 GW of onshore wind and 1.8 GW of solar photovoltaic projects. Integration into the grid will address power deficits and boost energy security. Private sector developers can seize this opportunity, secure contracts, and establish themselves in South Africa's growing renewable energy market.
Distributed by APO Group on behalf of Energy Capital & Power.
Cereal production prospects in Southern Africa have taken a sharp turn for the worse since last February, the Food and Agriculture Organization of the United Nations (FAO) warned today (Monday/Tuesday).
The foreseen shortfall in production, especially for maize, is expected to intensify households' food insecurity, push up domestic prices and spur a surge in import needs across the subregion, according to a new assessment from FAO's Global Information and Early Warning System. White maize accounts for almost 20 percent of calories consumed in the subregion.
The disappointing forecast comes after “widespread and substantial rainfall deficits in February, exacerbated by record high temperatures, a particularly damaging combination for crops,” the report said, noting that there are scant hopes of a recovery before the harvest period commences in May.
Acute food insecurity in southern Africa, estimated at 16 million people in the first three months of 2024, could deteriorate in late 2024, FAO warned.
Food prices, already rising at annual rates above 10 percent, are likely to rise further and, based on current projections, South Africa and Zambia, typically maize exporters, will not be able to cover the supply shortfall, and Zambia has started importing maize to meet the shortfall.
This combination of reduced harvests and rising food prices is particularly harmful for agricultural households and restoration of production,, as farm incomes are set to be squeezed while more resources will be needed to purchase food, said Jonathan Pound, economist at FAO's Global Information and Early Warning System.
Plan ahead for shift to La Niña
This observed pattern is typical of the El Niño weather phenomenon in the region, FAO noted.
Current forecasts however point a high likelihood of a transition to a La Niña phase later in the year, with more beneficial precipitation patterns.
That makes it “imperative” to scale up resilience-bolstering measures enabling farmers to prepare adequately for the next agricultural season starting in September 2024, FAO said.
The governments of Malawi, Zambia and Zimbabwe have already declared drought emergencies. Teaming up with the NASA Harvest programme, FAO geospatial observations suggest that key cereal crops will suffer adverse impacts in parts of Angola, Malawi, Mozambique, Namibia, South Africa and Zimbabwe, with Zimbabwe, Malawi and Mozambique expected to see a notable jump in import needs.
Distributed by APO Group on behalf of Food and Agriculture Organization (FAO).
India-listed Varun Beverages Limited (“VBL”), the largest PepsiCo bottler outside of the USA and China, entered into an agreement to acquire 100% of the shares in The Beverage Company Proprietary Limited (“BevCo”). RMB (www.RMB.co.za) acted as sole financial advisor to BevCo and selling shareholders, including a Private Equity Fund managed by The Rohatyn Group (post the completed merger of Ethos Private Equity with The Rohatyn Group in April 2023) and Nedbank Private Equity, in a deal with an enterprise value of R3 billion.
BevCo, is one of the largest carbonated soft drinks producers in Southern Africa. Their portfolio consists of the recognisable brands Jive, Coo-ee and Reboost. BevCo also bottles and distributes PepsiCo-branded non-alcoholic beverages in South Africa and has five manufacturing facilities in the country, in addition to operations in Lesotho, Eswatini, Namibia, and Botswana.
“Having invested in 2017, The Rohatyn Group's Africa Private Equity team together with our partners and the management team have built a focused non-alcoholic beverage platform. We executed our original investment thesis over a seven-year period and today the consolidated BevCo is in excess of three times the size and continues to grow its market share organically. VBL brings significant resources and expertise to invest in BevCo's product offering and grow PepsiCo's brands in Southern Africa, while expanding their presence on the continent,” says Glynn Potgieter, Managing Director at The Rohatyn Group.
There are always multiple challenges with cross-border transactions, in this instance including the requirement for compliance with both the Indian Stock Exchange and South African regulations. Regulation in India required a restructure of the BevCo group as well as the transfer of its debt facilities and subsequent deregistration/liquidation of more than ten entities within the group structure. This had implications on what would normally be a standard warranty and indemnity insurance policy. The transaction showcases RMB's advisory capability in successfully navigating complex cross-border transactions and ability to access international buyers for high quality South African assets.
In addition to the corporate finance advisory role to BevCo, RMB's South African and India teams assisted with refinancing the existing debt within BevCo as well as providing incremental acquisition finance for the transaction, in addition to facilitating the flows and foreign exchange conversion for the deal. This demonstrates RMB's expertise and comprehensive solutions offering across the Indo-Africa corridor. With a footprint and expertise based both in South Africa and India, RMB can support clients on both sides of the corridor to enable seamless end-to-end transactions.
“The Indian market reacted extremely positively with VBL's share price increasing in excess of 10% and reaching an all-time high on the day the transaction was announced. The transaction represents a significant investment and an important vote of confidence in South Africa by a large global player in the sector,” says Gareth Armstrong, Corporate Finance Executive at RMB.
Distributed by APO Group on behalf of Rand Merchant Bank.
El Niño effect on Southern Africa to be addressed by government agencies, partners
Southern Africa is in the grip of an urgent crisis, according to the Food, Agriculture and Natural Resources Policy Analysis Network (FANRPAN).
According to the FANRPAN, a record-breaking dry spell lasting over 30 days is scorching countries – Angola, Botswana, Madagascar, Malawi, Mozambique, Namibia, Zambia, and Zimbabwe.
“El Niño and climate change are fuelling this disaster, inflicting severe damage on crops and livestock over the past five years,” the institution said.
The FANRPAN is a pan-African network that provides independent evidence to inform policy processes at national and regional levels.
Its mandate is to co-ordinate policy research and dialogue and recommend strategies for promoting food, agriculture and natural resources sectors in Africa.
“The situation is dire and demands immediate attention. Widespread crop failure looms in Malawi, Zambia, and Zimbabwe. Livestock are dying at alarming rates due to a lack of water and vegetation.
“The movement of desperate people and animals is spreading diseases, including those transmissible to humans.”
Meanwhile, over 9 000 cattle deaths have been reported since October 2023.
“This is a humanitarian crisis demanding immediate action. Without urgent intervention, the suffering of affected communities will only worsen.”
The FANRPAN and its partners will have a media briefing on Tuesday, 22 April 2024, at the Agricultural Research Council in Hatfield, Pretoria, to address the matter.
The media briefing will shed light on the scale of the drought in Southern Africa and the steps governments, donors, and international actors must immediately take to save lives and avoid further catastrophes. – SAnews.gov.za
Gabisile
Fri, 04/19/2024 - 12:49
Haematopus moquini has gone from “Near Threatened” to “Least Concern” on the Red Data List
Vantage Capital (www.VantageCapital.co.za), Africa's largest mezzanine debt fund manager, announced that it has made a R346m investment into Procera Group (Pty) Limited (“Procera”), a leading South African business process outsourcing (BPO) services provider serving both South African and international clients.
Vantage's investment comprises of the acquisition of a significant minority equity stake from the Procera founders as well as the provision of a mezzanine facility to support future strategic acquisitions by Procera.
Founded in 1990 as a debt recovery solutions provider, over the last three decades Procera has evolved into an integrated BPO services group offering support solutions to its clients via several distinct brands along the customer life cycle. Procera currently services over 50 local and international blue-chip clients across key industries such as Retail, Financial Services, Energy and Telecommunications in geographies including South Africa, Namibia, United Kingdom, United States and Australia.
Procera's investment into its proprietary contact centre software, deployment of emerging technologies such as predictive analytics, generative AI and omnichannel communications continue to improve productivity and the customer experience. With over 2700 employees, Procera is a significant driver of impact through employment, training and skills development, especially for women and youth in the communities within which it operates.
South Africa is consistently ranked in the top two BPO locations globally driven by factors including customer experience supported by an empathetic English-speaking workforce and cultural affinity to various source markets, a favourable time zone, and its abundance of youth talent. The South African BPO market is expected to achieve a 13% CAGR over the next five years ahead of global growth forecasts for the sector of 8.5% CAGR. The sustained global growth is driven primarily by corporates seeking to effectively manage costs and streamline business functions.
Roshal Ramdenee, Associate Partner at Vantage Capital, said “Vantage sees a tremendous opportunity for both job creation as well as a positive economic impact as Procera continues its rapid international expansion and drives market leading technological solutions in the BPO space. Vantage is proud to partner with a very capable management team and committed long term investors.”
Warren van der Merwe, Managing Partner at Vantage Capital, added “It is rare in the current economic environment to find fast-growing South African businesses and ones that are truly competitive in developed markets. Procera's founders, shareholders and management team have built an admirable business to date, and we are excited to invest into Procera's next stage of growth and development.”
Crispin Sonn, Chairman at Procera added “We are very pleased to have the long-term support of Vantage and its team of seasoned investors as we look to grow the Procera's business services footprint into international markets.”
PWC acted as financial advisor to the transaction, Werksmans acted as legal counsel for Vantage. Other advisors to the transaction included Step Advisory, Ernst and Young, Webber Wentzel, Eversheds, STBB, and IBIS Consulting.
Distributed by APO Group on behalf of Vantage Capital Group.
For more information contact:
Warren van der Merwe
Managing Partner – Vantage Capital
warren@vantagecapital.co.za
+ 27 (0) 11 530 9100
Roshal Ramdenee
Associate Partner – Vantage Capital
roshal@vantagemezzanine.com
Darshan Shah
Senior Associate – Vantage Capital
darshan@vantagecapital.co.za
About Vantage Capital:
Vantage Capital Group was established in 2001 and is the largest independent pan-African mezzanine debt fund manager on the African continent. It has raised funds of US$ 1.6 billion in seven distinct mezzanine and renewable energy debt funds as well as in a technology fund and has to date made 61 investments across the African continent.
Vantage has an office in Johannesburg, employees based in Cape Town, Nairobi, Lagos, Cairo, London, Dubai and Paris, and targets investment opportunities, with a focus on mezzanine debt, of US$ 10 - 50m across more than a dozen key African markets. Mezzanine debt is an intermediate form of risk capital, which is situated between senior debt, the lowest risk tranche of the capital structure, and equity, the highest risk. It combines elements of both debt and equity thereby providing companies with long-term funding on terms which are less dilutive to shareholders than pure equity.
Vantage recently launched an education investment platform which is targeting the education markets of Poland, Czechia, Romania, and Portugal.
Website: www.VantageCapital.co.za
We sent questions to the ANC, DA, EFF, IFP, FF Plus, ActionSA, PA, MK Party and RISE Mzansi
Program to provide STEM and problem-solving skills to students across continent; Students to compete for chance to attend major regional industry conference; Aims to develop the next generation of African thinkers and workforce.
The ExxonMobil Foundation and JA Africa have launched the "ExxonMobil STEM Africa” initiative, a $300,000 program to promote science, technology, engineering and mathematics (STEM) for approximately 3,000 African students across Nigeria, Namibia, Angola and Mozambique.
The program will prepare middle and high school students for future STEM careers through immersive quizzes and hands-on experiences at Innovation Camps. The camps, delivered by JA Africa, will teach new approaches to addressing STEM-related challenges.
“Growing students' STEM skills is key in developing the next generation of problem solvers across Africa,” ExxonMobil Foundation President Alvin Abraham said. “We're excited to see how these young minds apply what they've learned through our program.”
Teams who present the best STEM solutions will represent their countries at a major regional industry conference in Cape Town, South Africa. Students will gain cross-cultural exposure, learn about energy from a global perspective and showcase their ideas while connecting with industry leaders.
“In an era where technology and innovation propel the global economy forward, Africa's position at the forefront of technological advancements is crucial for maintaining competitiveness and sustainable development,” said JA Africa President and CEO Simi Nwogugu. “We are grateful to the ExxonMobil Foundation for this partnership to nurture STEM competencies to shape Africa's future."
To learn more about the program, visit https://ExxonMobilSTEMsAfrica.org/
Distributed by APO Group on behalf of JA Africa.
About ExxonMobil Foundation:
The ExxonMobil Foundation is the primary philanthropic arm of Exxon Mobil Corporation in the United States. The Foundation engages in a range of philanthropic initiatives in areas where the company operates around the world, with a strategic focus on science, technology, engineering, and math (STEM) education.
About JA Africa:
As one of Africa's largest and most impactful youth-serving NGOs, JA Africa delivers hands-on, immersive learning in work readiness, financial health, entrepreneurship, sustainability, STEM, economics, citizenship, ethics, and more. JA Africa has a presence in 16 countries in Sub-Saharan Africa and collectively we reach more than 900,000 youth in more than 3,000 schools each year. JA Africa Works in Burkina Faso, Côte d'Ivoire, DRC, Eswatini, Ghana, Kenya, Madagascar, Mauritius, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe. Learn more at www.JA-Africa.org.
Paul Stevens, CEO of Just Property, demystifies the journey with this step-by-step guide to buying your first residential property in South Africa. Buying a property in South Africa is a significant financial commitment, and the process can feel overwhelming. The good news is that with the current market leaning in favour of buyers, it’s a …
When it comes to hotel development across Africa in 2024, just five words tell the story, “Egypt and the Big 5”. In this context, “the Big 5” does not refer to Africa's major wildlife attractions, (lion, leopard, rhinoceros, elephant and buffalo) but to the global hotel chains – Accor, Hilton, IHG, Marriott International and Radisson Hotel Group. This year's African Hotel Chain Development Pipeline report, widely acknowledged as the industry's most authoritative source, documenting and analysing the number of hotels being planned and built across the continent, reports a market share of 28% for Egypt and 71% for the Big 5 global chains.
The survey, conducted by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF), is based on responses from 47 global and regional (African) hotel chains, reporting on a pipeline of hotel development activity totalling around 92,000 rooms in 524 hotels, in 41 of Africa's 54 countries.
Significant trends to emerge in the past year include strong growth, over 9%, in both North and sub-Saharan Africa, an increase in very large hotels (the average size of the largest 10 hotels is 770 rooms, up from 723 rooms in 2023) and a rapid growth in resorts, up by 32% on 2023. In this respect, Zanzibar has performed particularly strongly. There, the pipeline has grown from seven resorts with 983 rooms in 2023 to 14 resorts and 2,048 rooms in 2024, a sure sign of confidence in these beautiful Indian Ocean islands.
The extent to which Egypt dominates the African hotel development pipeline each year, with almost 26,250 rooms in 109 hotels, is quite remarkable. The country's pipeline, up by 19 hotels and about 5,200 rooms in 2023, is larger than the next four countries put together. It has well over three times the number of rooms as second-placed Nigeria, which has 7,622 rooms in 50 hotels. Third-placed Morocco has 7,169 rooms in 52 hotels and Ethiopia, in fourth place, has 5,128 rooms spread across 31 properties.
There has been an extremely strong increase in the number of resort projects in the pipeline, growing from 24% of the total in 2023 to 30% in 2024. In addition, around half of the rooms in hotels and resorts that opened last year were in resorts. Both Boa Vista (Cape Verde) and Sharm El Sheikh (Egypt) score highly because of the very large average size of the resorts there. The largest hotel in the entire pipeline is a Rixos resort being planned in Sharm El Sheikh, with over 1,800 rooms.
The Big 5 global chains – Marriott International, Hilton, Accor, Radisson Hotel Group and IHG Hotels & Resorts – account for 66% of hotels and 71% of rooms in the entire African pipeline.
Marriott International, the world's largest hotel chain, remains in the lead for the third consecutive year, in a seemingly unassailable position as number one, with almost twice the number of pipeline hotels and rooms as second placed Hilton, and it has the largest number of rooms added in the year.
Looking back at previous years, there used to be a neck and neck race between Accor and Marriott International but, for the second year running, Accor's pipeline has actually decreased, from a high of about 20,250 rooms in 2022 to 13,375 rooms today. Executives say that they are focused on having a “clean and achievable pipeline, rather than numbers for numbers sake”.
Accor's quote highlights a key issue in tracking hotel development in Africa, which is differentiating between hotel projects that are proposed from those that are under construction and from those that have been completed. Typically, the length of time between signing and opening is between four and five years. However, the report identifies 35 projects in the pipeline that are 10 or more years old, including one hotel that was signed 16 years ago.
When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built. It is followed by Hilton (72 hotels, 5,955 rooms), Radisson Hotel Group (35 hotels, 5,748 rooms) and Accor (70 hotels, 3,346 rooms). TUI Hotels & Resorts has charged into the rankings in fifth place with 12 hotels (2,208 rooms) under construction.
As well as looking at deals, which may or may not materialise, W Hospitality Group also looked at who was opening hotels in Africa in 2023, and where. Of the total 29 chain hotels and resorts that opened in Africa in 2023, the split was 10 in North Africa and 19 in sub-Saharan Africa. Of those 19 openings, 11 were in East Africa, including six new hotels and resorts in Tanzania, which had the most openings of any African country. It is clear evidence of the attractiveness of both the mainland and Zanzibar to investors and operators.
Accor came out top of the list for openings last year, and it also tops the number of hotels and rooms opened over the past five years (2019-2023), with 34 hotels opening, comprising around 5,500 rooms.
In terms of “actualisation”, 2023 was an exceptionally slow year. However, that is likely to be offset by a strong 2024, during which the top 10 chains expect to open 139 hotels with 19,122 rooms.
Trevor Ward, Managing Director, W Hospitality Group, said: "Our report contains very positive data, with the pipeline expanding by more than 9 per cent in 2023. This is the largest increase since 2018 and, according to data produced by CoStar/STR, is one of the highest increases globally, surpassed only by the Americas. We look not just at signed deals and their status, but also at the historical actualisation of these deals. This year, we've placed greater emphasis than we have in the past on the actualisation, because if the deals don't become operating businesses, generating profits for the owners and paying fees to the hotel chains, no one's objectives are being met, are they?"
“We're looking forward to some 139 hotels and resorts opening in Africa in 2024, with expectations of a far greater actualisation rate than in recent years, as Africa strives to achieve its fair share of the global hotel industry”.
When one considers existing hotels, as well as hotels in the development pipeline, the continent's current king of the jungle is Accor, with 165 hotels, containing 29,041 rooms, open and trading. Marriott International is in second place, 25,451 rooms in 143 hotels, Hilton is third, 12,525 rooms in 47 hotels and Radisson Hotel Group is close behind with 12,179 rooms in 61 properties. However, if Marriott International delivers all the rooms in its pipeline, it is on course to overtake Accor and become pack leader, with 51,816 rooms in operation.
Matthew Weihs, Managing Director of The Bench, which organises the Africa Hospitality Investment Forum (AHIF), concluded: “The report reveals some very positive trends, including strong growth in new hotel projects, the emergence of high-quality white label hotel operators and governments successfully attracting investment into their tourism industries. All this bodes well for deal-making discussions at AHIF.”
An update to the pipeline development survey, along with in-depth insights, will be presented by Trevor Ward at AHIF, which takes place at the Mövenpick Hotel, Windhoek, Namibia, from 25th – 27th June 2024.
The event is the most influential gathering of hospitality executives in Africa, connecting business leaders and fuelling investment in tourism projects, infrastructure, and hotel development across the continent.
Distributed by APO Group on behalf of Africa Hospitality Investment Forum (AHIF).
Media contact:
For further information and high-resolution images, please contact:
David Tarsh
+44 (0) 20 7602 5262 / +44 (0) 7770 816 070
Email: David@Tarsh.com
About W Hospitality Group:
The W Hospitality Group, a member of Hotel Partners Africa, specialises in the provision of advisory services to the hotel, tourism and leisure industries, providing a full range of services to clients who have investments in the sector, or who are looking to enter them through development, acquisition or other means. In sub-Saharan Africa W Hospitality Group is regarded as the market leader due to the market and financial expertise of its staff, its worldwide knowledge, and its commitment to its clients. In Africa, W Hospitality Group has to date worked in 40 countries on the continent, from its Lagos and Addis Ababa offices.
About the Africa Hospitality Investment Forum (AHIF):
AHIF is the premier hotel investment conference in Africa, attracting many prominent international hotel owners, investors, financiers, management companies and their advisers. It is organised by The Bench (www.TheBench.com), which has a long track record of delivering multiple premium hotel investment conferences and forums across Europe, the Middle East, Africa, Asia and Latin America. The Bench's mission is enabling prosperity by facilitating growth, networking, and thought leadership in the hospitality industry worldwide.
Sponsors of AHIF are Host Sponsor: Namibia Investment Promotion and Development Board (NIPDB); Host Partner: Kasada Capital Management; Platinum Sponsors: ClubMed, Radisson Hotel Group; Gold Sponsors: Accor, Aleph Hospitality, BWH Hotels, CHIC, CityBlue, hansgrohe, IHG Hotels and Resorts, Knight Frank, Kofisit, LEVA, Marriott International. Millennium Hotels and Resorts; Silver Sponsors: Gondwana Collection, HVS, STR, TIME Hotels, TV5Monde; Tuck Shop Sponsor: Profica; Bar Sponsor: Zia Travel Atelier; Exhibitor: MultiChoice Namibia; Networking Sponsor: Talinda; Official Carriers: Discover Airlines, FlyNamibia, South Africa Airways.
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South Africa's President Cyril Ramaphosa will deliver a keynote and open the Sustainable Infrastructure Development Symposium of South Africa (SIDSSA) 2024, taking place on March 17-19 at the Century City Conference Center in Cape Town. Poised to showcase updates and announcements on new international partnerships and joint ventures in South Africa, SIDSSA 2024 is set to gazette opportunities for investing in infrastructure for stakeholders in the region.
The symposium will feature the participation of South Africa's Deputy President Paul Mashatile, who is expected to showcase the country's long-term plan for driving public and private sector-led infrastructure development while reaffirming the President's stated goal of reaching 5.5% year-on-year economic growth. The Deputy President will deliver a keynote during the SIDSSA 2024 stakeholder dinner.
Taking place on March 17-19 at the Century City Conference Center in Cape Town, the SIDSSA will bring together key stakeholders in South Africa and across the continent with the aim of driving infrastructure development. SIDSSA 2024 serves as a crucial platform for discussions and partnerships in the infrastructure investment landscape, with a focus on accelerating economic recovery through strategic infrastructure plans. For more information, visit https://SIDSSA.org.za/.
This year, the symposium will be held under the leadership of South Africa's Minister of Public Works and Infrastructure Sihle Zikalala, who is expected to address regulatory and policy reforms, explore innovative funding models, showcase the strength of the emerging 2024/2025 pipeline and highlight opportunities for investing in infrastructure in the country. Minister Zikalala will be accompanied by the department's Deputy Minister Bernice Swartz.
Supporting some of South Africa's largest infrastructure projects, including the $34 million Musina Ring Road project and the transformation of the N3 highway into a Smart Freight Corridor, the symposium will feature the participation of the country's Minister of Transport Sindisiwe Chikunga and the department's Deputy Minister Lisa Mangcu. Set to facilitate greater economic activity between South Africa and neighboring countries and positioning the country as a freight and logistics hub for Africa, respectively, the Musina Ring Road and N3 highway projects are poised to drive connectivity and cultivate collaboration throughout the region.
Meanwhile, the participation of South Africa's Minister of Cooperative Governance and Traditional Affairs Thembi Nkadimeng promises to showcase and gazette investment opportunities in the country's infrastructure projects for the benefit of all stakeholders. Further bolstering confidence in South Africa's ability to fuel investment in its key sectors, the country's Minister of Tourism Patricia de Lille and Deputy Minister of Communication and Digital Technologies add to the symposium's impressive roster of speakers from the South African Cabinet while facilitating synergy between the objectives of the country's Sustainable Development Plan.
In addition to members from South Africa's Cabinet, SIDSSA 2024 will also feature a strong line-up of international ministers, including Namibia's Minister of Works and Transport John Mutorwa, who is expected to showcase investment opportunities in the country's sustainable mobility systems. Meanwhile, with second phase of the Lesotho Highlands Water project currently underway, the participation of Lesotho's Minister of Home Affairs Lebone Lephema adds to the symposium's theme of inclusive growth in the southern African region.
In alignment with the event's promise to contribute to the accelerated delivery of infrastructure throughout Africa, key infrastructure initiatives in some of Africa's most promising investment destinations will be showcased by Senegal's Minister of Infrastructure, Land Transport and Opening-Up Amadou Mansour Faye and Algeria's Minister of Public Works and Basic Infrastructure Lakhdar Rakhroukh. Additionally, Swaziland's Minister of Work and Transport Chief Ndlaluhlaza Ndwandwe rounds off the southern African region's esteemed host of ministerial delegates.
Serving as the launchpad for major energy project's in South Africa's 2024/2025 pipeline, SIDSSA 2024 will also feature the attendance of South Africa's Deputy Minister in the Presidency Kenny Morolong. The Deputy Minister's participation works in alignment with the event's promise to showcase South Africa's pipeline of 12 infrastructure projects due to start development in 2024/2025.
Distributed by APO Group on behalf of Energy Capital & Power.
About SIDSSA 2024:
SIDSSA 2024 is organized by the Investment and Infrastructure Office under the Presidency, in collaboration with the Association of African Exhibition Organizers and Energy Capital & Power. The National African Federation for the Building Industry joins as an association partner, while the Development Bank of Southern Africa is the official sponsor of the event.