This week we look at infrastructure developments that could shift the scales in East Africa’s trade, and tell you why Africa’s largest mobile network has its eye on Myanmar.
Rail Revival Brings Lifeline to Biggest Africa Copper MinesRailway operators in Zambia to invest as much as $1.5 billion to upgrade the country's 1,200-kilometer (746-mile) system over the next five years as part of plans to boost rail volumes almost 10-fold by 2016.
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Source: Business Week
South African Mobile Operator MTN Eyes Myanmar LicenseAfrica's largest mobile services operator, MTN, will compete for a license to be the first to connect Myanmar into the mobile telecommunications industry. If awarded, the license would allow MTN its first opportunity to operate in Southeast Asia.
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South Sudan to Resume Oil ExportsSouth Sudan is set to resume oil exports, weeks after an agreement was signed to allow South Sudanese crude to flow through pipelines. South Sudan's chief negotiator, Pagan Amum, says instructions will be provided to the oil companies within two weeks.
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Source: Voices of America
Ghana’s Economy Set For 5.5% Growth This YearThe International Monetary Fund's (IMF) Regional Economic Outlook factors reveal that investment is expected to remain a key driver of growth in Ghana and sub-Saharan Africa, with a projected 5,5 percent increase in 2013-2014. Key factors include strong investment, positive commodity prices, and prudent macroeconomic management. Read More »
Source: Chronicle Ghana
Sierra Leone, China Sign Draft of Deals Worth $6 BillionChina’s Kingho Energy Group and Sierra Leone`s Minister of Mines and Mineral Resources agree to implement multiple projects worth over $6 billion mainly in the mining and industrial sectors. One of the highlights of the project include plans for a 250km railway between the northern town of Maburaka to Pujehun in the south of the country. Read More »
Source: Africa Review
SABMiller Zimbabwe Unit Year Earnings Up 36 PercentSABMiller's Zimbabwe unit reported a 36 percent rise in full-year earnings. The brewer says the increase was driven by strong sales of premium lager and non-alcoholic beverages. Earnings per share rose to 8.49 cents in the year ending March, up from 6.22 cents. Read More »
Angola to Sell More Than 30 State Companies to Bolster EconomyAngola to offload 33 state-owned companies over the next five years to increase efficiency and cut costs. Companies on the block are mostly small and medium-sized, including Bricomil SARL, a construction company, two government banks and the national insurer. Read More »
Samsung To Build Factory In Egypt, Enter MEA RegionSamsung Electronics to build its first-ever factory in the Middle East and Africa. The plant will be situated in Egypt’s Kom Abu Radi Industrial Zone. Product lines from the site are expected in 2016, with an emphasis on TV sets, monitors and other state-of-the-art tools. Read More »
Source: Ventures Africa
With $11 Billion Bagamoyo Port, Tanzania Prepares to Take on EA Hub MombasaTanzania signs a deal with China to set up East Africa's largest port as part of an infrastructure project that will see Dar es Salaam port being upgraded and the expansion of the city’s main airport. Experts predict this will signal a shift in the flow of trade between Kenya and Tanzania. Read More »
Source: The East African
Safaricom Drives Kenyan Shares Higher, Shilling SteadyShares in Kenya's top telecoms firm closed 3.5 percent higher this week, helping to break a three-day losing streak. The benchmark NSE-20 share index finished 1.52 percent higher. After a session where Safaricom accounted for more than a third of the shares traded. Read More »