neWs: africa
mozambique looks east
africa’s top five
stars
Nigeria, Ethiopia, South
Africa, Mauritius and Tanzania
Mozambique’s ties with Asian It also hopes the dam will attract of over $800m. It hopes to export
are the top five potential
investors have been strengthened “energy-intensive” industries to 20m tonnes of coal a year from
investment destinations in
after announcing the construction Mozambique. 2010. India’s Tata Steel has a 35
Africa, according to a survey
of a new hydroelectric dam paid “Chinese companies per cent stake in the licence. from consultancy firm African
for by the Chinese. are active in Mozambique’s Gumende is looking for the
Rainbow. The survey also said
Work on the 1,350 megawatt infrastructure projects,” Antonio mining and energy sectors to help
Africa is set to overtake the
Middle East to become the
Mpanda Nkuwa dam on the Gumende, Mozambique’s high Mozambique’s economy grow
second-fastest growing region
Zambezi river will begin next April commissioner, told Pathfinder by 4.5% this year – despite the
in the world after Asia.
or May, with the funding for the Business. “We have had a very country not being “insulated from
$2.3bn project coming from the good experience with them. We the effect of the global economic
senegal offers
China Exim Bank. are looking to Asia for further crisis”.
tax breaks
The Mozambique government infrastructure investment.” He said: “We have seen
Foreign investors are
being offered tax breaks
said part of the energy produced Gumende pointed to the impacts on investment flows and
to help Senegal increase
would be used for domestic needs recent deal with Australia’s there has been a fall in demand
food production and fight
with the surplus being exported Riversdale Mining which secured a for some of our exports. But our against higher prices. The
to other countries in the Southern mining licence for the Banga Coal economy is going to grow at a
Senegalese government said
African Development Community. project with a planned investment reasonable rate.”
investors would be exempt
from customs duties, tax
and VAT if they supported
chineSe Scoop Zambia copper deal
its recently launched Great
Agricultural Offensive for Food
Zambia has chosen the Chinese export. President Rupiah Banda said: and Abundance (GOANA)
firm NFC Africa to manage “The drop in metal prices has hit us
programme. It aims to increase
the Luanshya Copper Mines all hard in Zambia. But the miners
the country’s food production
levels as its population
(LCM), which are due to reopen can now go back to work again. We
struggles to cope with rising
shortly after a period of layoff. expect new jobs to be created.”
world food prices.
NFC beat off competition from However the government is Information Minister Abdul
two bidders, Luanshya Mineral still keen to diversify its economy
Aziz Sow said: “Every investor
Resources and Vedanta Resources, with an annual capacity of 4,000 from copper mining. Treasury
in GOANA-related enterprises
will have foreign exchange
to take a majority 85% stake metric tons of cobalt and 40,000 spokesman Chileshe Kandeta said
controls suspended for five
in the operation. The Zambian tons of copper. a recent $174.1m in Western aid
years. This will allow them to
government retains a 15% stake. NFC will rehire all of LCM’s for economic stabilisation, and to
take their profits out of the
The mines were closed miners and wants to take help in the fight against poverty, country freely.”
in December with the loss of advantage of a rise in the price of would go to a variety of key
GOANA aims to make
1,700 jobs after metal prices fell metals as the world gears itself up sectors. These include agriculture,
Senegal self-sufficient in food
by 2015 by irrigating and
worldwide. The mines formed for a potential economic recovery. ommunications, infrastructure
cultivating unused land and
Zambia’s largest cobalt producer Copper is Zambia’s biggest development and transport.
increasing the production of
rice, maize, cereals, milk and
Piracy fears force data cable delay
meat.
An undersea fibre-optic cable African Marine Cable System, executive of Kenyan-based
abidjan port to get
$60m upgrade
promising to connect East to begin by the end of the international contact centre
The owner of Ivory Coast’s
Africa with the rest of the world year, and the Eastern African KenCall, told Pathfinder
Abidjan Port is to spend
for the first time and reduce Submarine Cable System to be Business. $62.3m up to 2012 to turn
internet prices for consumers launched next year. “Businesses will get new
it into a regional transport
and businesses has been delayed The cables will reduce the markets overseas to sell their
hub. SETV aims to grow the
by fears of Somalian pirates. cost of broadband access in a goods – be they flowers, beans
port from an import-export
point to a gateway for West
The Seacom cable had been region which at present has only or crafts. It lights us all up and
Africa’s landlocked countries
due to begin operating on 27 the expensive and slow option puts our production in the
including Burkina Faso, Niger
June but is now scheduled for 8 of satellite internet. global market place. The risk and Mali. “These volumes will
July because of the threat posed “This puts East Africa on the of investing in Kenya will be
grow strongly in the next five
by the pirates. world map and allows it to plug reduced.
years as will transhipments for
ports in the region,” said chief
The cable will be followed into the information knowledge “They will not be investing
executive Lionel Labarre.
by two other projects – the East base,” Nicholas Nesbitt, chief in the dark.”
pathfinder business l JUNE/JULY 2009 9
PBS12 pp04-11 Comment+News.indd 9 5/6/09 15:25:54
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