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Kabila opens doors to SA companies

Democratic Republic of Congo (DRC) President Joseph Kabila has told South African companies that his country is open for business and investment.

He was addressing over hundred local business people during the South Africa-DRC Business Forum in the Congolese capital Kinshasa.

The business delegation was accompanying President Jacob Zuma on his state visit to the southern African country. During his stay in the Congo, President Zuma witnessed the signing of the multi-billion rand hydro-power project.

The 80 billion US dollar Grand Inga Dam Project will have the capacity to power almost half of the continent with ….. Continue Reading

SA squeezes water power out of DRC

A new power deal was one of the main agreements signed during President Jacob Zuma’s state visit to his Congolese counterpart, Joseph Kabila.

South Africa has increased its economic footprint in the Democratic Republic of Congo (DRC) with the signing of a power ­purchase agreement for the sale of electricity from the Grand Inga hydroelectric dam to Eskom.

The deal was one of the main agreements signed during South Africa President Jacob Zuma’s state visit to his Congolese counterpart, Joseph Kabila, this week.

Critics of South Africa’s intervention in the DRC were ….. Continue Reading

SA companies should invest in DRC – Thabethe

Deputy Minister of Trade and Industry Ms Elizabeth Thabethe. Picture: Thobile Mathonsi.

Johannesburg – Trade and Industry Deputy Minister Elizabeth Thabethe has called on South African companies to invest in the Democratic Republic of Congo (DRC), the department said on Sunday.

She was speaking on Friday at the fifth Investment and Trade Initiative (ITI) in Lubumbashi, her spokesman Sidwell Medupe said in a statement.

The ITI was aimed at improving bilateral trade relations with partners such as the DRC.

Spouth African companies which already invested in the DRC included AngloGold Ashanti, ….. Continue Reading

South African Bekker Becomes Billionaire With China Media

Jacobus Petrus “Koos” Bekker became a billionaire earlier this year after transforming Cape Town, South Africa-based Naspers Ltd. (NPN) from a decades-old print business into the world’s largest emerging market media company.

Formed in 1915 as De Nasionale Pers, the company published what became South Africa’s first Afrikaans-language daily newspaper, Die Burger, which went on todefend apartheid rule in commentaries and articles when the segregationist system was put in place, beginning in 1948.

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Naspers Chief Executive Officer Jacobus Petrus “Koos” Bekker is seen with his wife Karen Bekker in July, 2011, in Sun ….. Continue Reading

From FDI to Africans investing in Africa

INVESTORS from Europe, Asia and the US are not the only ones chasing growth opportunities in Africa these days — Africans themselves are waking up to the potential across borders in their own backyard.

The same trends that have lured foreign capital to the continent — rising wealth, sustained economic growth and a swelling young population — are attracting investors in South Africa, Kenya, Nigeria and even Namibia.

Between 2003 and 2011, intra-African investment into new foreign direct investment (FDI) projects in Africa grew at a 23% annual compound rate, according to Ernst & Young. Since 2007, that rate has ….. Continue Reading

Egypt’s political crisis entered a tense phase on Wednesday after international mediation efforts collapsed and the army-installed government repeated its threat to take action against supporters of deposed President Mohamed Mursi.

Both sides called their supporters on to the streets on Thursday, while Mursi supporters in two protest camps in Cairo strengthened sandbag-and-brick barricades in readiness for any action by security forces.

Acting President Adli Mansour, in a message on the eve of the Muslim Eid al-Fitr holiday, said Egypt was in critical circumstances. The interim government would press on with its own plan to hold new elections in nine months, he said.

“The train of the future has departed, and everyone must realize the moment and catch up with it, and whoever fails to ….. Continue Reading

Steadily improving’ Mandela celebrates 95th birthday

PRETORIA | Thu Jul 18, 2013 2:02am EDT

(Reuters) – Anti-apartheid hero Nelson Mandela is “steadily improving”, South Africa’s government said on Thursday as the former president celebrated his 95th birthday in hospital amid tributes from around the country and the world.

The Nobel Peace Prize laureate, globally admired as a symbol of struggle against injustice and of racial reconciliation, has been under treatment since June 8 for a recurring lung infection that has led to four hospital stays in the past six months.

“Madiba remains in hospital in Pretoria, but his doctors have confirmed that ….. Continue Reading

Will Congo Benefit from Grand Inga Dam?

Three Gorges Dam in China. Advocates argue that the power generated from hydro outweighs any negatives.

Africa’s poorest nation, the Democratic Republic of Congo (DRC), plans to build the world’s largest (and most expensive) hydropower dam, Grand Inga on the Congo River’s Inga Falls. A day before I set forth for the DRC, the huge project took a significant step forward with the signing of a “cooperation treaty” by the DRC and South African governments.

The treaty makes South Africa the principal purchaser of the power generated at Inga III power plant, the first ….. Continue Reading

Obama Orders Review of U.S. Aid to Egypt

Hours after United States officials confirmed that plans to deliver F-16 fighter jets to Egypt will go ahead despite the overthrow of Islamist President Mohammed Morsi, President Barack Obama took a step back and ordered a review of U.S. assistance to Egypt’s government.

“Given the events of last week, the President has directed relevant departments and agencies to review our assistance to the government of Egypt,” said a Pentagon statement quoted by Al Jazeera.

Earlier Wednesday, officials told the Reuters news agency that the United States plans to go through with the delivery of ….. Continue Reading

African Development Bank to Leave Tunis; Government Denies Negative Ramifications

After nearly a decade of operating in Tunis, the headquarters of the African Development Bank (AfDB) has finalized plans to return to Côte d’Ivoire, raising questions about the effect the relocation will have on Tunisia.

The AfDB is a multilateral development finance institution consisting of 77 African and non-African countries which funds a variety of public and private projects throughout the continent.

The AfDB moved to Tunis in 2003 due to civil war in Côte d’Ivoire. While its eventual return to the capital Abidjan has been official policy, the May announcement ….. Continue Reading

Top five tips on doing business in Africa

As one of the few remaining untapped markets in the world, Africa has come onto the radar of many international companies looking for additional revenues and a competitive advantage. However, the process of doing business in Africa is different to anywhere else in the world, and can prove difficult for the uninitiated. Louise Robinson, Sales Director at Database 360, says there are few things companies should bear in mind as they expand their operations up the continent:

Have a sense of humour Doing business in Africa is very different to anywhere else in the world. It’s a long and expensive ….. Continue Reading