Weekly Roundup | 10.08.2024
Your curated selection of weekly Africa business and investment headlines.
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Headlines
?? Largest Copper Producers, Globally
?? Ray Dalio “Holy Grail Strategy on Investing and Diversification”
?? African Countries Ranked by Military Budget
?? Top 10 African Nations With the Highest Foreign Exchange and Gold Reserves
Africa
领英推荐
?? World Bank to Provide $750 Million for Clean Energy Projects in Nigeria
the project will leverage parallel financing of $100 million from the Global Energy Alliance for People and Planet and $200 million from Japan's International Cooperation Agency in addition to over $1 billion of private capital… Read More
?? China, Nigeria Drugmakers Plan to Build Plant
Nigeria’s biggest drugmaker will partner with Chinese firms to build a $100 million plant in the West African nation to help alleviate a shortage of medicines.… Read More
?? Largest Copper Producers, Globally
?? Nigeria Will Join BRICS at Right Time — Minister
“We’ll join when the time is right. We never said we are not joining BRICS. It is about timing. We have already indicated our interest in joining but we have not formally written,” said Nigeria’s Minister of Foreign Affairs.… Read More
?? Ray Dalio “Holy Grail Strategy on Investing and Diversification”
Institutional capital invests in Africa primary for the reasons the billionaire hedge fund manager describes in five minutes:
[videos for subscribers only]
?? Why Private Equity Is In Such a Funk
Buyout firms are sitting on a pile of assets they purchased during a giddier, lower-interest-rate era — and can no longer cash out at the prices they hoped for.… Read More
?? How a Mega Dam Has Caused a Mega Power Crisis for Zambia
Zambia depends heavily on the Kariba Dam, a British-built structure from the 1950s, for most of its electricity. Hydropower accounts for 84% of the country’s energy, while only 13% comes from coal. A severe drought has nearly dried up the Zambezi River, leaving just one of the six turbines at Zambia's power station in operation, generating a mere 7% of the dam's 1,080 MW capacity..… Read More
?? China to Bring Tanzania-Zambia Railway Back to Full Speed With $1 Billion Boost
TAZARA has fallen into disrepair and is in the financial doldrums, with only 10 locomotives in used instead of its capacity of 50. The investment is a direct response to US efforts to build parallel railway infrastructure. The plan is to increase capacity from 500,000 metric tonnes to 2 million metric tonnes.… Read More
?? AfricInvest Health Fund Surpasses $100m Target
Notable fund investors include Royal Philips, the International Finance Corporation (IFC), Swedfund, the U.S. International Development Finance Corporation (DFC), Proparco, Merck & Co., FSD Africa Investments, Grand Challenges Canada, ImpactAssets Inc., the Global Health Investment Corporation (GHIC), Ceniarth (the family office of Diane Isenberg), UBS Optimus Foundation, Skoll Foundation, Chemonics International, Anesvad Foundation, Netri Foundation, and the U.S. Agency for International Development (USAID)… Read More
?? African Countries Ranked by Military Budget
[videos for subscribers only]
?? Top 10 African Nations With the Highest Foreign Exchange and Gold Reserves
?? Tanzania to Pay Market Prices to Miners Ordered to Sell Gold to Central Bank
Tanzania’s central bank said it will buy gold at market prices from mining firms and traders who were ordered last week to sell it at least 20% of the gold they hold to help diversify its reserves. Uganda, Madagascar and Ghana also have programs to buy gold from miners to hedge against geopolitical tensions that have battered their currencies… Read More
?? Zambia Plans to Launch Sovereign Wealth Fund in 2025
A major source of money for the fund will come from the mining sector in Africa’s second-largest copper producer, as well as an estimated $1 billion from streamlining minerals licensing. Dividends from IDC holdings of state-owned enterprises will also contribute.… Read More