Addleshaw Goddard's Africa Business Group are delighted to publish our March newsletter which this month has a focus on infrastructure and energy. We hope you enjoy reading a selection of some of the most interesting business news and articles from around the continent.
For a regular stream of business and legal news in Africa, please download our innovative "Doing Business in Africa" App, available for free for ipad users on the App Store or accessible from your browser here compatible with Safari, Chrome and Internet Explorer 10.
Opportunities in Energy and Infrastructure in Africa
Please join Addleshaw Goddard in Dubai on March 15th for a panel discussion on opportunities in the energy and infrastructure sectors in Sub-Saharan Africa. Yusuf Macun, Head of Project Finance at Apricum, will moderate the discussion among Andrew Greaves (Addleshaw Goddard), Simon Courie (Addleshaw Goddard), (John Beardsworth (Hunton & Williams) and Ryan Ketchum (Hunton & Williams).
If you would like the panel to address a specific topic in the energy or infrastructure space, we would love to hear your thoughts in a comment to Simon Courie
Click here for more information including booking details
Investing in Africa's Renewable Energy Sector
Growing appetite for foreign direct investment in Africa's renewable energy sector promises to help address the continent's surging power demand. Africa desperately needs more electricity, with economic projections indicating rapid growth for many of its constituent nations. The African Union forecasts that the continent's collective GDP will multiply six-fold between 2010 and 2040.
Home-grown African wealth funds seeking foreign partners to fix infrastructure gap
Africa, famously short of new roads, ports and power stations, is increasingly leaning on its own sovereign investment funds to help fix its infrastructure gap. The funds - which have around $150 billion between them, according to research firm Preqin - are digging in themselves and offering co-investment opportunities and guarantees to attract foreign capital.
Africa energy leaders to address energy infrastructure
This week, South Africa will see African energy leaders gathering in Johannesburg to discuss ways to provide affordable and clean energy across the continent. Media highlighted that amid the primary concerns for attendees will be seeking ways to unlock the massive levels of investment that are needed to grow a clean and reliable electricity network for Africa.
USAID supports renewable energy development
The United States Agency for International Development (USAID) has announced a grant commitment of $767,512 to support the development of renewable energy in Nigeria. The funds, which are aimed at the development of solar micro grids in 25 communities across the country, were received by a local private company, Community Energy Enterprises Limited (CESEL).
The power of pension funds for African infrastructure
Opening the elegant new six-lane toll bridge stretching cross Dar es Salaam’s Kigamboni Creek in April, Tanzania’s President John Magufuli called it “liberation” for citizens. It represents a $135m investment by Tanzania’s National Social Security Fund, the state-run pension fund, and government. China Railway Construction Engineering Group built the 680-metre bridge with China Railway Major Bridge Group and say it is the longest cable-stayed bridge in East Africa.
Financing infrastructure in Africa
Imagine half of your neighbours not having electricity, or a quarter of them not having access to running water. It might be a hypothetical thought for most people, but it is the reality for the 1.2 billion people living in Africa. The continent needs $93 billion in infrastructure spending each year according to a 2014 study of the United Nations Economic Commission for Africa and New Partnership for Africa’s Development.
Public-Private Partnerships key for promoting trade in emerging economies
President of Senegal Macky Sall, speaking on the worries of a slow-down in trade on the back of protectionist sentiments in the United States, said that whatever its size or power, no country today can exist autonomously.
Africa's decade of accelerated industrialization
In today’s interdependent global economy, Africa remains a weak link. If the world is to achieve the Sustainable Development Goals, thereby completing the United Nations 2030 Agenda for Sustainable Development, it must help Africa accelerate its development by promoting rapid and responsible industrialization.
CSONA – Zuma commits SA to Renewable Energy
President Jacob Zuma committed to South Africa's continued investment in renewable energy as part of its overall energy mix. By 2014, investment into renewables in South Africa accounted for 84% of all foreign direct investment; a total sum of just under R200bn.
Cameroon looks into renewable energy
In Central Africa, the government of Cameroon is expected to sign a partnership with Tunisia for the transfer of technology through a science park, the Borj Cedria Ecopark, in the coming days.
Business Council for Africa news and country spotlights
6 Mar - Kenya gears up for early oil export, downplays hurdles
6 Mar - Switzerland imports $2 billion worth of gold from Ghana
6 Mar - Rising exports push Nigeria’s foreign trade to $16 billion in Q4
28 Feb - Merger talks between Airtel and Tigo completed (Ghana)
28 Feb - Green bond to steer Rwanda to boost agriculture
28 Feb - Shell mulls integrating renewables into its sub-Saharan Africa operations
17 Feb - IMF backs Ghana government’s one district, one factory initiative
17 Feb - Africa has raised $5 billion from IPO’s over last five years
17 Feb - Nigeria’s $1 billion Eurobond begins trading on the London Stock Exchange
16 Feb - GE partners with transnet to digitise African transport
15 Feb - Africa set to become top gas market, says experts
The Business Council for Africa (BCA) is the leading member organisation supporting private sector trade and investment across sub-Saharan Africa. Established 60 years ago, our extensive membership base consists of more than 400 companies ranging from different sectors that are committed to doing business on the continent. Through our 30 plus events each year and In-Country Representative network, BCA members benefit from unparalleled networking opportunities with prominent business leaders, high-level government officials and visionary entrepreneurs.
For further information please contact George Arnold (Business Development Manager).
Co-Head of Retail & Consumer Sector, Partner, Mergers and Acquisitions LondonView profile