Africa

With the discovery of oil in Ghana, the economic and business landscape of the country is changing beyond recognition. We talk to Mona Boyd, managing director of Avis Ghana, about how she is preparing her business for an explosion in demand.

London-listed Petra Diamonds has announced that the IFC has agreed to a $25 million loan to expand Petra’s Finsch Diamond Mine in South Africa.

Petra said that given the lead times between its now larger diamond tenders (after the acquisition of the Finsch mine) and the volatility experienced over the last 12 months of both the rand and diamond prices, the new revolving credit facilities will give it additional scope and flexibility to execute its capital expenditure programme and bring its stated production and revenue growth opportunities to fruition.

London-listed Heritage Oil has invested £541 million in a number of assets in Nigeria, it has been announced.

The company is buying a 45 per cent stake in OML 30, a producing oil mining lease in Nigeria, from Shell, Total and ENI, as well as a 45 per cent interest in other assets under the OML 30 joint operating agreement.

OML 30, located onshore in the Nigerian delta, includes eight producing fields and associated infrastructure, including a segment of the 850,000 bopd-capacity Trans Forcados pipeline.

The French multinational food group Danone has taken control of Centrale Laitière, Morocco’s leading dairy products company.

Danone raised its stake in Centrale Laitière to 67 per cent by acquiring part of SNI's shareholding for a total €550 million.

Centrale Laitière’s products are sold throughout Morocco. The company operates four production sites with around 4,000 employees, and in 2011 reported sales of 6.6 billion dirhams. The company is market leader in three core businesses: milk, fresh dairy products and cheese.

Fibre optics are transforming communication in Africa, and this key supplier is helping to upgrade the system in one of the sparsest countries imaginable.

One of South Africa’s leading bulk material handling specialists is playing its part in making material handling easier, safer and more productive.

Harmony Gold Mining Company Limited has built a reputation for itself as a leading producer of gold in South Africa and Papua New Guinea. With a commitment to both stakeholder value and corporate responsibility, the company is setting the gold standard for ethical mining in these regions.

Gold Fields Ghana is not only committed to ethical and sustainable mining but is also spearheading a national conservation programme as part of its vision to become a global leader in sustainable gold mining.

Abu Dhabi National Energy Company (TAQA) has announced that its wholly-owned subsidiary, Jorf Lasfar Energy Company, has secured financing for the expansion of its coal-fired power complex in Morocco.  

The company signed financing arrangements for $1.4 billion equivalent of 16-year, multi-currency non-recourse project financing for the 700 MW expansion of the power complex.

With Eskom no longer having the sole responsibility for electricity generation in South Africa, new independent providers are moving into the market. Cennergi, one of the most recent entrants, is setting itself ambitious targets.