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Representatives from the AFC, Alstom and MetroKin sign MoU

Africa Finance Corporation signs MoU with Alstom to deliver rail project in the DRC

Published: 30 May 24

Infrastructure financier the Africa Finance Corporation (AFC) and sustainable mobility company Alstom have signed a memorandum of understanding to propel the development of the Kinshasa MetroKin rail project in the Democratic Republic of Congo (DRC). The partnership was announced alongside the recent State visit of DRC President Félix Tshisekedi to France.

Marula confirms series of local contracts for Kenyan operations

Published: 30 May 24

AQSE-listed Marula Mining has confirmed that the agreements which extend over all the company’s key operations activities at the Larisoro manganese mine, in Kenya, have been executed with several Kenya-based service providers. These agreements include contracts for the drilling and blasting of material on site; the use of mobile mining equipment for the mining, loading and hauling of the ore and waste material; and for the transportation of the manganese ore from Larisoro to Nairobi, where it will be delivered into existing sales agreements and a proposed new long-term offtake agreement.

UK politicians urge Anglo to rethink fertiliser project halt

Published: 30 May 24

UK politicians are calling on Anglo American AAL.L to rethink halting its work at the Woodsmith fertiliser project in northern England, part of an asset overhaul Anglo announced after rejecting takeover proposals from global miner BHP. Anglo's unit Crop Nutrients was holding a town hall meeting on Thursday to advise on the slowdown of the project in North Yorkshire, two sources said. Woodsmith currently gives work to around 2 000 people, including contractors, according to the mining company's website.

Global air cargo demand continued strong growth in April

Published: 30 May 24

The International Air Transport Association (IATA), which is the global representative body of the airline industry, has reported that global total air cargo demand continued to grow strongly in April. This was the fifth month in a row in which air cargo demand increased by double digits, in year-on-year terms. “Air cargo demand started [the second quarter] with a solid 11.1% increase,” highlighted IATA director-general Willie Walsh. “While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust.”

Poor roads, bad weather and weak used-car market dent Zeda’s profit

Published: 30 May 24

Poor road conditions, hail storms, a shortage of car parts and a deteriorating used-car market all managed to dent Zeda’s operating profit for the six months ended March 31. The integrated mobility solutions provider, active in the leasing, car rental and fleet management sectors, on Thursday reported a 19% jump in revenue, to R5.3-billion.

Aluminium hits two-year high as China capacity limits help rally

Published: 30 May 24

Aluminum extended gains to a two-year high after China, the biggest producer, tightened capacity controls across an array of metals to meet emission-cutting goals. The light metal used in everything from window frames to solar panels has climbed with other base metals this year as expected US monetary easing and China’s bid to step up rescue efforts for its beleaguered property sector bolstered demand. Prices are up almost 20% this quarter alone.

SABS publishes voluntary national standard for plain language

Published: 30 May 24

The South African Bureau of Standards (SABS) in March adopted and published the South African National Standard (SANS) 24495 – Plain Language. South Africa has been implementing the principles of plain language since the promulgation of the Consumer Protection Act of 2008.

Endeavour’s Côte d’Ivoire project ahead of schedule

Published: 30 May 24

London- and Toronto-listed Endeavour Mining announces that wet commissioning activities are now under way at the Lafigué project, in Côte d’Ivoire. The project is on budget, with construction now 94% complete, and the first gold pour is expected to take place in late June, a quarter ahead of schedule.

Orange export volumes will be lower than initially expected – CGA

Published: 30 May 24

The Citrus Growers’ Association of Southern Africa (CGA) has revised downward its estimates for Navel orange exports this season to 22-million 15 kg cartons. The association initially expected 25.6-million cartons to be exported, but had to revise this estimate by 14.5% following consideration of factors brought up by the Orange Focus Group.

EIB Global invests €25m in Amethis Fund III to promote African business growth

Published: 30 May 24

Investment organisation the European Investment Bank (EIB) Global has invested €25-million into pan-African fund Amethis Fund III, which aims to provide private equity growth capital to medium-sized companies on the continent. Amethis Fund III will target companies supplying goods and services to low- and middle-income populations in Africa. The target sectors include healthcare; business services, such as logistics and IT; manufacturing and distribution, including agribusiness and fast-moving consumer goods; non-banking financial services; and services related to infrastructure and energy.