Mining News

Nigeria's economy has suffered from falling oil prices but the worst may be over. Credit: CNN

Nigeria and South Africa emerge from recession

Two of the largest economies in Africa are growing again after recessions.

South Africa's Deputy President Cyril Ramaphosa (L) and President Jacob Zuma listen to the national anthem at the opening of Parliament in Cape Town, South Africa February 11, 2016. Credit: Yahoo/Reuters/Mike Hutchings

South Africa's biggest union group backs Ramaphosa to succeed Zuma

Deputy President Cyril Ramaphosa saw his chances of becoming South Africa’s next leader increase on Thursday.

Akinwumi Adesina, President, AfDB

African economies are through the worst of downturn, says AfDB President Adesina

African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.

Mark Okoye, Executive Director & Secretary, Anambra State Investment Promotion and Protection Agency (ANSIPPA)

Invest Nigeria - Think Anambra (Presentation): Anambra State Investment Promotion and Protection Agency (ANSIPPA)

In March 2015, Anambra was ranked the most transparent and accountable state in Nigeria, complying with all the set standards in public sector accounting, according to the International Public Sector Accounting Standards (IPSAS).

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

Kayode Fayemi, Nigeria's Minister of Solid Minerals Development

Nigeria to revive $4.5B Ajaokuta steel mill in 2016, says Solid Minerals Minister Fayemi

Nigeria is aiming to hand over the $4.5 billion Ajaokuta steel complex to private operators this year as part of a plan to kick start its industrial and mining industries, Kayode Fayemi, the country’s minister of Solid Minerals Development, said.

Lagos, Nigeria

Economists share their 2016 outlook for Nigeria, Kenya and South Africa

These are the global economic realities that will continue to shape African markets in 2016. Strong US dollar. Low oil and commodity prices. Slowing Chinese growth.

Dow Chemical seeks to triple Africa revenue in five years

Dow Chemical seeks to triple Africa revenue in five years

Dow Chemical Co plans to triple its revenue from sub-Saharan Africa in the next five years and is investing in offices, local staff and manufacturing plants on the continent to meet that target, its head of the region said.

Johannesburg skyline | Source: Shutterstock

South Africa still leads the rest of Africa on foreign investment

Despite an overall deceleration in growth in recent years, South Africa leads as the top destination in Africa for inward foreign direct investment (FDI) and shows clear economic potential, according to new research from fDi Markets.

Aliko Dangote, CEO, Dangote Cement

Dangote Seeks Zimbabwe Investments in Cement, Power, Mining

Aliko Dangote, Africa’s richest man, is considering investments in Zimbabwe’s cement, power generation and coal-mining industries as part of an expansion in the southern African nation.

General Electric Co (GE) CEO for Africa, Jay Ireland. Photographer: Patrick T. Fallon/Bloomberg

GE books $2.5B in African orders from oil to locomotives, beating 2018 target by $500M

General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola.

South African mining billionaire Patrice Motsepe, Founder and Executive Chairman of African Rainbow Minerals

Billionaire Patrice Motsepe and insurance company Sanlam partner to launch $500M private equity fund

Insurance company Sanlam and mining boss Patrice Motsepe’s company Ubuntu-Botho will invest in various industries including mining and financial services.

John Magufuli, Tanzania's Minister of Public Works Minister and presidential candidate. Photographer: Khalfan Said/AP Photo

Tanzania's ruling party picks Minister of Public Works John Magufuli to run for President

Tanzania’s ruling party Chama Cha Mapinduzi nominated Works Minister John Magufuli to run for president on its ticket in general elections planned for Oct. 25.

Nigeria’s new president Muhammadu Buhari

A new Nigerian government increases opportunities for the private sector

The swearing in of Nigeria’s new president Muhammadu Buhari last week has led to renewed optimism regarding economic progress in the country and new opportunities for the private sector, particularly in infrastructure development, consumer and financial services sectors.

Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

Looking back to move forward: Elsie Kanza, Senior Director & Head of Africa, World Economic Forum

In 1992, one year after the end of the apartheid era in South Africa, the two leaders that would broker the country’s future trajectory appeared together at a forum in Switzerland.

Chasing that paper: African businesses are splashing out more on M&A in 2015 than ever before (Reuters/Stringer)

African businesses are splashing out more on M&A in 2015 than ever before

Perhaps the most overlooked feature of the oft-challenged ‘Africa Rising’ narrative is that African businesses are growing in self-confidence and belief in their continental competition rather than looking to the West for validation.

Dapo Okubadejo, Partner & Africa Head, Deal Advisory & Private Equity, KPMG

Consumer demand will drive the next wave of private equity investments in Africa, says KPMG Partner Dapo Okubadejo

Though Africa has been described as the last frontier market for natural and mineral resources, market trends indicate that it is in fact meeting current needs of the 1 billion plus population and, the future demands of the rapidly emerging middle class consumers, that will drive the next wave of private equity investment on the continent.

Abidjan-based Bourse Régionale des Valeurs Mobilières (BRVM) regional stock exchange covers eight countries in Francophone West Africa.

London Stock Exchange eyes dual listings on West African capital markets

Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange.

Private equity in Africa - Context, opportunities, and risks - Global Counsel and Allen & Overy

Private equity in Africa: Context, opportunities, and risks - Global Counsel/Allen & Overy (Infographic & Presentation)

In many ways private equity – with its combination of capital and management expertise – is a perfect fit for Africa. As the scale of Africa’s potential has become recognised among the investment community, private equity has provided an opportunity for those who want to both contribute to, and benefit from, Africa’s growth story.

Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

A new way forward for Nigeria: Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

A couple of years ago, many investors were optimistic about Nigeria and the stock market was booming, buoyed by strong economic growth and government reforms to improve the country.

Jose Filomeno de Sousa dos Santos, Chairman of Fundo Soberano de Angola (FSDEA), Angola's sovereign wealth fund

Angola's sovereign wealth fund allocates further $1.4B to Africa projects

Angola’s sovereign wealth fund said on Monday it was allocating $1.4 billion to five new vehicles that will invest in sectors such as mining, timber, agriculture and healthcare within the country and elsewhere in Africa.

January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telcos operating in Tanzania to list on Dar es Salaam Stock Exchange by year-end: January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telecom companies operating in Tanzania will be listed on the local stock exchange by the end of the year, the country’s deputy communication, science and technology minister said on Wednesday, days after a deadline for them to do so had passed.

Daniel Kablan Duncan, Prime Minister of Ivory Coast

Ivory Coast eyes double-digit GDP growth until 2020, says Prime Minister Daniel Kablan Duncan

Ivory Coast is hoping to achieve double-digit economic growth this year and every year until 2020, Prime Minister Daniel Kablan Duncan said on Tuesday.

China and US trade with Africa

U.S. Export Agency Doubles Africa Offices to Help Boost Trade

The U.S. Commercial Service, the export promotion arm of the Department of Commerce, doubled its presence in Africa over the past year to boost trade with some of the world’s fastest growing economies.

Listing in Africa - Extractive Industries - KPMG

Listing on African Stock Exchanges - Extractive Industries: KPMG (Report)

The recent lack of growth in the developed markets coupled with perceived improvements in political and macroeconomic stability, policy certainty, and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption is leading to increasing interest by foreign companies and institutions in Africa as an investment destination.

Jose Filomeno de Sousa dos Santos, Chairman of Fundo Soberano de Angola, Angola's sovereign wealth fund

Angola's $55B sovereign wealth fund seeks mine, timber, health & agriculture investments: Jose Filomeno de Sousa dos Santos, Chairman of Fundo Soberano de Angola

Angola’s $5 billion sovereign wealth fund is seeking investments in mining, timber, health and agriculture in order to diversify its asset base and increase returns.

Baker & McKenzie

Nigeria Deals Seen by Year-End as Equity Valuations Decline

Nigerian companies are turning into foreign acquisition targets as valuations slide with the price of oil, according to a law firm that advised on one of the country’s biggest Eurobond sales last year.

Investing in Africa - Nigeria vs East Africa

Investing in Africa - Nigeria vs East Africa: Malimu Museru, Senior Analyst, RisCura

Nigeria and Kenya frequently feature as the top investment destinations in Africa, with Nigeria being the clear front runner. Investors, however, are starting to view East Africa as a combined investment region that could rival the West African giant, using Kenya as a sturdy stepping stone to the wider East African region.

The twilight of the resource curse? Africa’s growth is being powered by things other than commodities.

African economic growth: The twilight of the resource curse?

For decades commodity prices have shaped Africa’s economic growth. The continent is home to a third of the planet’s mineral reserves, a tenth of the oil and it produces two-thirds of the diamonds.

Vladimir Putin (Left) and Jacob Zuma, presidents of Russia and South Africa, respectively

Geopolitics Key to South Africa's $100 Billion Nuclear Plan

Politics may tip the balance as Russia’s Rosatom Corp. and France’s Areva SA (AREVA) prepare to battle it out for South Africa’s planned nuclear-energy project that could cost $100 billion.

Africa Arisen - The Blue Sky Continent 2014 - KPMG

Africa Arisen: The Blue Sky Continent 2014 - KPMG (Report)

This report presents thought-leadership, opinions, and predictions from Senior Partners attached to KPMG offices throughout Africa.

The Johannesburg Stock Exchange (JSE)

Africa: Now a major player in emerging markets financial services

The Africa Finance & Investment Forum 2014 represented something of a landmark for the oldest continent and its plans for the future. Held in Cologne, it was the first such conference to be held in Germany, Europe’s economic motor and a strategic partner in several African ventures.

Abidjan, Ivory Coast

Private equity firms look to Ivory Coast for deals

Some of the largest private equity investors in sub-Saharan Africa are considering expanding into Ivory Coast, a country that is currently experiencing an economic renaissance after years of conflict.

Mark Mobius, Executive Chairman of the Templeton Emerging Markets Group, Franklin Templeton Investments

Why Africa is the next emerging markets success story: Mark Mobius, Executive Chairman of the Templeton Emerging Markets Group

Emerging markets super-bull Mark Mobius has his sights set on a new region: Africa.

Africa's Richest 2014 Visualization

Africa's Richest 2014 (Visualization)

Visualization of Africa’s Richest 55. Data courtesy of Ventures Africa. Sort and filter by Net Worth (US $). Filter by Number of Jobs Created, Country of Citizenship, Industry, Age, and Gender.

London Stock Exchange (LSE)

London Stock Exchange to pursue African company listings

The London Stock Exchange is launching an aggressive attempt to increase the number of listings of African companies in the UK, following strong interest from institutional investors in a recent wave of initial public offerings from the region.

Africa Business Jumpstart

Four reasons why operating in Nigeria can boost your success rate in Africa: Harnet Bokrezion, Founder & CEO, Africa Business Jumpstart

Nigeria. What is coming to your mind thinking of Africa’s most populated country?

Luanda, Angola

Angola's $5B sovereign wealth fund nearing African, global private equity-style deals

Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said.

A nurse wears a special uniform to be protected from the Ebola virus at a state hospital in Kenema, Sierra Leone, in August 2014.

Ebola a long-term 'blip' for Africa investors

When Africa investment consultant Melissa Cook landed in Abuja last week, Nigerian airport workers took her temperature for signs of Ebola.

South African Rand

South Africa economy avoids recession

South Africa has avoided falling into recession after second-quarter GDP figures showed the economy grew by 0.6% during the April-to-June period.

Africa's GDP

Lions go global: Deepening Africa's ties to the United States

The White House has invited some 50 African heads of state to Washington, DC, this week, presenting a historic opportunity to deepen US ties to the continent.

Aliko Dangote

Cementing Africa's future: The rise and rise of Aliko Dangote, Africa's richest man

Aliko Dangote made his fortune by gambling on Africa’s future, repeatedly. For the Nigerian entrepreneur, that gamble has paid off spectacularly.