African Business du 28-04-2021
76 pages
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African Business du 28-04-2021


Obtenez un accès à la bibliothèque pour le consulter en ligne
En savoir plus
76 pages


Publié par
Date de parution 28 avril 2021
Langue Français
Poids de l'ouvrage 98 Mo


The Best selling Pan-Af r ican Business Maga zine African BUSINESS An IC Publication | 55th Year | N°483 | May 2021
Features African space firms join satellite scramble How Africa can attract Chinese tourists
Ugandan firms eye oil sector deals
Special Report
Africa’s booming ports
Rankings Africa’s Top 250 Companies
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N T E Contents
Cover storyFlare-up: Insurgency threatens Mozambique’s LNG future
Business Intelligence 4 News and deals from  around Africa
Cover story: Mozambique 12Flare-up:Insurgency threatens Mozambique’s LNG future
Opinion 18visitors could Chinese  be future for African tourism 20Can agriculture solve  Africa’s jobs crisis?
Features 22Private equity snaps up opportunities  in Southern Africa 24Ugandan îrms eye oil  sector deals 26Cape Town non-proît  helps SMEs raise their game 28Africa’s space îrms poisedfor lift-o in satellitescramble
Special report: Top companies 31 Market capitalisation of  Africa’s top companies soars
Special report: African ports 46Africa’s ports shrug o  Covid-19 and Suez crisis 48Infographic:Africa’s ports  adapt to global trends 52Creating infrastructure  to boost growth
Countryîles 62Nigeria’s controversial  reînery rehabilitation 64Moroccan produce satisîes  UK’s post-Brexit appetite
Book review 72How to Avoid a Climate  Disasterby Bill Gates
Editor’s view 74Which way forward for  Chad after death of president?
4African BusinessMay 2021
Business IntelligenceNews
Lagos is planning to establish its own electricity market to ensure a more reliable power supply for Nigeria’s commercial hub. The Lagos government is calling for generation, transmission and distribution functions to “be owned and operated substantially by the private sector” and supervised by a regulator, according to a paper by Olalere Odusote, commissioner for energy and mineral resources. The plan would lead to Lagos assuming powers traditionally held by the central government.
Nigerian Senate approves $2.7bn borrowing plan
Nigeria’s Senate has approved President Muhammadu Buhari’s plan to borrow $2.7bn from international lenders to fund critical projects. The combination of $1.5bn and €995m in loans will be disbursed to the country’s 36 states and priority projects, said Cliord Ordia, chairman of the approving committee. Lenders include the World Bank, Export-Import Bank of Brazil and Deutsche Bank.
ABSA’s îrst black CEO steps down after 15 months
David Mminele has stepped down as CEO of South Africa’s ABSA Bank following a strategy disagreement. Mminele, who led the bank for 15 months as its îrst black CEO, was expected to oversee a turnaround strategy planned prior to his arrival but disagreed with the board over issues including structure, operating model, priorities and cultural change. He will be replaced on an interim basis by chief înancial oïcer Jason Quinn pending the appointment of a new CEO.
Lagos plans its own electricity market
Pandemic deals blow to trade înance
Capital outows from Africa exceeded $5bn in the îrst quarter of 2020, undermining the capacity of banks to înance trade, according to an Afreximbank survey. The pandemic, tightening înancing conditions, balance of payment pressures and liquidity constraints all hit the supply of trade înance. Between January and April 2020, the number of correspondent banking relationships fell across the region and rejection of letter of credit requests increased, with about 38% of local privately-owned banks and 30% of foreign banks reporting an increase in rejection rates. (For further information see pages 66-68.)
6African BusinessMay 2021
Business IntelligenceDeals
Five hundred and seventy-two private equity and venture capital investments in technology worth $6.5bn occurred in Africa between 2015 and 2020, according to the African Private Equity and Venture Capital Association. The top investment destinations in technology were in South Africa, Egypt, Nigeria and Kenya. Ninety-seven investments in healthcare in Africa worth $1.3bn were recorded over the same period, with Nigeria, Morocco, Egypt, South Africa and Ghana top by share of volume. The total value of înal closed funds in Africa was $18.1bn.
Cameroon signs three-year framework with ITFC
Cameroon has signed a $750m înancing agreement with the International Islamic Trade Finance Corporation (ITFC). The three-year framework will deliver $250m annually to facilitate the imports of key commodities in energy and mining, and support the health sector with medical supplies and equipment. It will also facilitate exports of agricultural commodities such as cotton, soy, and others.
African PE and VC tech investments total $6.5bn over îve years
Telecoms group Millicom to complete Africa exit
US-based emerging markets telecoms group Millicom will complete its exit from Africa this year after agreeing to sell its Tanzania operations to Madagascar-based operator Axian and its stake in AirtelTigo, a joint venture with India’s Airtel, to the government of Ghana. Over the past four years Millicom has sold its operations in the Democratic Republic of Congo, Rwanda, Senegal, and Chad as it pivots to Latin America, the source of 95% of its revenues.
France ready to grant Sudan $1.5bn bridge loan
France is prepared to grant a bridge loan of up to $1.5bn to clear Sudan’s arrears to the IMF, according to its special envoy to Sudan, which will allow Khartoum to secure further debt relief on around $50bn in external debt. Ambassador Jean-Michel Dumond told a panel hosted by Chatham House in April that France, Sudan’s second biggest bilateral creditor, will oer “whatever will be needed for the reimbursement of the IMF”. Sudan hopes to qualify for the Highly Indebted Poor Countries debt relief initiative in June.
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