Africa

In November 2015, Lesedi La Rona, the world’s second-largest gem-quality diamond ever found, was mined at the Karowe Mine in Botswana. The mining team behind the discovery was Lucara Diamonds (formerly called Boteti Mining), a diamond exploration and mining company founded in 2009. In less than six years, the Canadian-registered firm had made a discovery that placed it firmly in the spotlight of industry analysts.

In June 2019, the government of Rwanda put forth the National Electrification Plan, which aims to see 100% of Rwandan households with access to electricity, both on-grid and off-grid, by 2024.

The remarkable progress made by Rwanda’s electricity sector since the turn of the millennium provides a true case study for other developing countries to learn from. World Bank figures show that just 6.2% of the Rwandan population had access to electricity in 2000, and now, according to Rwandan government data, that figure has surpassed 65%. The government’s vision is for 100% of the population to have access by 2024.

Rwanda’s Transport Development Authority (RTDA) faces a stern challenge to deliver on its mandate. Firstly, there are the budgetary restrictions that come with being a low-income country. Next, there is the country’s population density: At 416 people per square kilometre, Africa’s highest. Finally, Rwanda is known as the ‘land of a thousand hills’ - outlining, in the plainest of terms, what might be the biggest challenge of all.

Liquified natural gas (LNG) has been universally recognized as a stepping stone in the energy transition. Thanks to its 25 percent lower carbon emissions than traditional fuels, LNG finds are now usually treated with more fanfare than the discovery of oil wells. It is wholly understandable in this context then, the enthusiasm that surrounds the Greater Tortue Ahmeyim (GTA) LNG project off the coast of Senegal and Mauritania.

With a population of slightly over 2.5 million people, Namibia is one of Africa’s least populous countries. But that hasn’t limited the country’s ambition. Since gaining its independence 32 years ago, the country has managed to make a successful transition to democracy, dramatically improve the living standard of its citizens, and to diversify and internationalize its trade so that its top five trading partners include the likes of Switzerland, Italy, and China.

On this last point, one organisation can take much of the credit.

The 21st century has been a time of growing prosperity for Ghana and its citizens. Although the country’s GDP remained largely stagnant for the 50 years to the beginning of the century - growing just 13% between 1955 and 2000 - its growth since then has been phenomenal. In 2021, the country’s GDP was measured at over $72 billion - nearly 15 times higher than in 2000, when the same figure stood at a little less than $5 billion.

Perhaps more than any change currently underway in Africa, the continent’s ongoing massive investments in developing the infrastructure's economic enablers point to a highly prosperous and brighter future. The pace of progress is furious.

If the 21st century does turn out to be the African century as many have claimed, agriculture will have a central part to play in the story. The importance of the sector has been underlined over the course of the Covid-19 pandemic when output and prices have continued to grow. In South Africa, where diversified agricultural firm/agribusiness Senwes is based, agriculture was the only sector of the country’s economy which grew over the past two years.

It has been a decade since Business Excellence first profiled Perseus Mining’s operations in Ghana. At that time, its first mine, the Edikan gold mine, was just about to begin commercial production. In the intervening period, the mine has produced over 2 million ounces of gold and based on current ore reserves, it is expected to recover a further 1.3 million ounces of gold over its remaining life, estimated to be nearly six years.