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Rand strengthens on eve of national election
Published: 28 May 24
The South African rand strengthened a day before a national election on Wednesday which could see the ruling party lose its majority for the first time in 30 years. At 1605 GMT, the rand traded at 18.2775 against the dollar, around 0.6% stronger than its previous close.
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Rand strengthens on eve of national election
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Nature-based solutions could accelerate development, social equity – ECA
Published: 28 May 24
Nature-based solutions present a unique way for Africa to accelerate the implementation of the Sustainable Development Goals and Agenda 2063, while contributing to the conservation of the continent's rich biodiversity, promoting ecological connectivity and enhancing climate resilience, said Economic Commission for Africa (ECA) deputy executive secretary Antonio Pedro at the African Natural Capital Alliance (ANCA) Annual Summit held in Nairobi, Kenya, on May 28. “With careful design of its development pathway, Africa can harness the value of its natural resources through responsible management practices that recognise planetary boundaries and balance economic growth with environmental conservation and social equity, beyond growth domestic product metrics,” he commented.
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Global aviation IT specialist enters the maritime sector
Published: 28 May 24
Global air transport IT solutions group SITA announced on Tuesday that it was expanding into the maritime sector, with the launch of its new subsidiary company, SmartSea. It also announced that SmartSea had entered its first agreement, with Cyprus-based global major ship management and maritime services company Columbia Shipmanagement (CSM). “SITA is taking a bold step into the maritime sector, where our longstanding leadership in aviation can serve to overcome economic and capacity challenges, ...
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Bird flu vaccines for laying hens prove effective in practice
Published: 28 May 24
Bird flu vaccines for laying hens are effective in practice, the Dutch government said on Tuesday, while confirming plans to vaccinate poultry against the virus that ravaged flocks around the world and is raising fears about human transmission. Highly pathogenic avian influenza, commonly called bird flu, has killed or caused the culling of hundreds of millions of poultry globally in recent years, most of them laying hens, which sent egg prices rocketing.
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Johannesburg one of 3 cities to benefit from Suncasa project tackling climate threats
Published: 28 May 24
The Scaling Urban Nature-Based Solutions for Climate Adaptation in Sub-Saharan Africa (Suncasa), a new three-year project, will undertake watershed restoration and adaptation actions in Dire Dawa, Ethiopia; Kigali, Rwanda; and Johannesburg, South Africa. It is expected to reduce climate-fuelled flood risks and enhance the resilience of people in these three sub-Saharan African cities, while promoting gender equality and social inclusion and strengthening biodiversity protection.
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Nedbank, Transnet mediation over swaps terminated
Published: 28 May 24
Mediation between financial services group Nedbank and State-owned Transnet, in respect of interest rate swap transactions (swaps) between the parties that took place in December 2015 and March 2016, and which have been widely reported in the media for many years, has ended after it became apparent that there is no likelihood of resolving the matter amicably despite extensive engagements, Nedbank informs in a statement. Nedbank says it participated in the mediation process, which was a confidential, facilitated negotiation, in an attempt to resolve the dispute between the parties amicably and to avoid potentially drawn-out and costly litigation, for both parties, over transactions which Transnet regards as tainted by corruption.
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Oil and gas industry body shines spotlight on Angolan market
Published: 28 May 24
The African Energy Chamber (AEC) has highlighted the opportunities provided by Angola’s oil and gas industry. The Chamber points out that oil and gas forms the lynchpin of the Angolan economy and that, since 2017, it has been subject to “aggressive reform”. Since 2019, the country has been undertaking multiyear licensing rounds for offshore blocks for both oil and gas exploration and production, open to foreign enterprises. So far, this policy has seen the awarding of more than 27 such blocks. The most recent of these rounds saw 53 bids for 12 blocks in the Lower Congo and Kwanza basins. The AEC is particularly urging multinational exploration and production, and technology, companies to invest in Angola. The organisation points out that the West African country plans to keep its oil production running at 1.1-million barrels per day (bpd) until 2027. After that, production will be stepped up to more than 2-million bpd, to boost economic growth.
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South African rand stable, national election looms
Published: 28 May 24
The South African rand was stable in early trading on Tuesday, against a weaker dollar and ahead of a national election on Wednesday which could see the ruling party lose its majority for the first time in 30 years. At 07:09 GMT, the rand traded at 18.3725 against the dollar, around 0.1% stronger than its previous close.
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Post-Covid, China is back in Africa and doubling down on minerals
Published: 28 May 24
China's flagship economic cooperation program is bouncing back after a lull during the global pandemic, with Africa a primary focus, according to a Reuters analysis of lending, investment and trade data. Chinese leaders have been citing the billions of dollars committed to new construction projects and record two-way trade as evidence of their commitment to assist with the continent's modernisation and foster "win-win" cooperation.
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Delayed coal decommissioning won’t ‘collapse our climate commitments’
Published: 27 May 24
The Presidential Climate Commission (PCC) is currently assessing the impact of South Africa’s decision to delay the decommissioning of the Hendrina, Grootvlei and Camden coal-fired power stations on the country’s Nationally Determined Contribution (NDC), which outlines the country’s decarbonisation goals. Eskom confirmed recently that Cabinet and board permission had been granted for the continued operation of the three power stations beyond their original decommissioning dates, owing to the ongoing shortage of supply and delays in adding new generation.
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Solar farm project, South Africa
Published: 24 May 24
Iron-ore briquette plant, Spain
Published: 24 May 24
Peripheral ring road, Peru
Published: 24 May 24
BHP was struggling to find common ground with Anglo American on Tuesday in talks over its takeover offer, with no new concessions as a deadline...
Nigeria's Dangote refinery plans London and Lagos listings by end 2024
Published: 28 May 24
Nigeria's Dangote refinery is aiming for a dual listing on the London and Lagos bourses by the end of this year, a senior executive said on...
Rand strengthens on eve of national election
Published: 28 May 24
