Africa’s corporates look to expand financing options
Photo: iStockCorporate treasurers in Africa have often faced greater challenges than those elsewhere in getting access to capital. There are several initiatives in place to tackle this, such as Standard Bank's agreement to offer trade finance solutions jointly with DP World Trade Finance in a May 2023 deal that will see the firms co-lend and share risk on deals made via its platform across Africa. African corporates are also keen to expand their roster of banking partners, according to Manish Kohli, global head of global payments solutions at HSBC, who says the bank is seeing many clients from North Africa expanding beyond the region. However, the African Development Bank Group’s Capital Markets Development Trust Fund notes that the total value of Africa’s debt capital markets is less than 3% of the continent’s GDP. In addition, most African capital markets remain underdeveloped and shallow, with few listed securities and financial products, while local-currency corporate bond markets struggle to gain traction and depth.
Source:The North Africa Journal
January 25, 2024 13:24 UTC
THE INSTANT GROUP ACQUIRES OFFICESPACE.COM EXPANDING ITS WORKSPACE MARKETPLACE IN NORTH AMERICA
NEW YORK, Jan. 25, 2024 /PRNewswire/ -- The Instant Group has acquired officespace.com to further expand its global marketplace for flexible workspace. About The Instant GroupThe Instant Group has been rethinking workspace since 1999 with over 600 experts working globally across more than 175 countries. Instant's digital platforms constitute the world's largest digital marketplace for flexible workspace listing meeting rooms, virtual offices, flexible office space and coworking memberships. Instant has global offices including London, Paris, New York, Hong Kong, Singapore, India, Mexico City, and Sydney. www.theinstantgroup.comSOURCE The Instant Group
Source:The North Africa Journal
January 25, 2024 13:18 UTC
Consumers less concerned with availability
Consumers have experienced a long period of high food inflation and weaker than expected availability. See our new food inflation forecasts in our latest Viewpoint report – As food inflation falls, what’s in store for 2024? Availability concerns are at the lowest level since we started measuring this in July 2021. Availability concerns lower for fresh produceClick chart to enlargeAvailability concerns have declined again for fresh produce (20% compared to a peak of 52% in March 2023). Availability concerns highest in Northern IrelandAvailability concerns continue to be highest in Northern Ireland (60%).
Source:The North Africa Journal
January 25, 2024 12:53 UTC
HMM links with North Africa feeder operator as it eyes new revenue streams
By Martina Li 25/01/2024South Korea’s flagship liner operator HMM has become a partner of Spain’s Sea & Ports Group, as it eyes cargo business in North Africa. Sea & Ports operates intra-North Africa feeder services through a subsidiary, Marguisa, which will become HMM’s exclusive agent in Libya. And the move follows Sea & Ports’ entry into the North Africa market in 2022, with operations in Morocco, Tunisia and Algeria. He said: “West Africa in particular and Sub-Saharan Africa in general saw imports from the Far East grow more than 20% in 2023. At the same time, West Mediterranean and North Africa has grown by little more than 10%.
Source:The North Africa Journal
January 25, 2024 11:47 UTC
Global Road Construction Project Insights Report 2023: Analytics and Tracking of $2.94 Trillion in Pipeline Projects - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Road Construction Project Insights and Analytics (Q4 2023)" report has been added to ResearchAndMarkets.com's offering. This report provides a detailed analysis of road construction projects globally, based on projects tracked by the publisher. The global road projects pipeline, as tracked, is valued at $2.94 trillion. The road project pipeline in South Asia totals $450.3 billion, ahead of Eastern Europe with a pipeline value of $354.6 billion and South-East Asia which records a pipeline of $316.8 billion. ScopeThe report provides analysis based on the construction projects showing total project values and analysis by stage and funding for all regions.
Source:The North Africa Journal
January 25, 2024 11:41 UTC
South Africa: Solar power plants complete senior debt restructuring
A $37 million senior debt restructuring has been completed on the 11MW Aries and 11MW Konkoonsies solar power plants in South Africa, allowing for a significant reduction in wholesale electricity prices from the plants. The Aries Solar Power project is located 36km southwest of Kenhardt in the Northern Cape and generates 22,000 MWh annually, which is fed into the country’s national grid. The Konkoonsies Solar Power plant, located 32km north east of Pofadder in the Northern Cape, assists in helping South Africa shift towards clean energy production by generating 11MW of sustainable solar power. Loadshedding led to an ‘unprecedented wave of solar installations’A significant benefit for South Africa’s customersThe two solar plants commenced operation in 2014 as part of South Africa’s Renewable Energy Independent Power Producer Procurement Programme. “Overall, Globeleq has now restructured six of our eight plants in South Africa using the Department of Mineral Resources and Energy’s IPP Office Refinancing Protocol,” said Scholey.
Source:The North Africa Journal
January 25, 2024 11:21 UTC
Sankey Prasad is Colliers CMD for India, Middle East
“He will also take a significant stake in Colliers’ rapidly growing project management business in the Middle East, supporting the region’s flourishing real estate market in collaboration with Colliers’ existing real estate services business in the Middle East and North Africa (MENA) region,” it said. Investment management firm Colliers on Wednesday announced that Sankey Prasad will expand his leadership role to include project leaders in the Middle East. Effective immediately, Sankey Prasad becomes Chairman and MD (CMD) for India and CMD for the Middle East Engineering business which is under the name of Colliers Project Leaders Middle East.
Source:The North Africa Journal
January 25, 2024 10:04 UTC
AFCON 2023 Review: Heavyweights knocked down, North Africans feel heat as Nsue leads scorers’ chart
The 36 group encounters produced 89 goals, and there were no scoreless results until the last group phase games. An average of 2.47 goals per game is an excellent output, considering the heat and low humidity in Cote d’Ivoire. The highest margin of defeat honour went to the hosts, Cote d’Ivoire and Namibia, while former champions, Algeria and Tunisia, had the ignominy of finishing bottom of their groups. 9s at the tournament, it is 34-year-old Emiliano Nsue from Equatorial Guinea who leads the scorers’ chart with five goals. Round of 16 fixturesNigeria (6) vs. Cameroon (7)Namibia (27) vs. Angola (28)Mali (6) vs. Burkina Faso (10)Senegal (2) vs. Cote d’Ivoire (8)Morocco (1) vs. South Africa (12)Cape Verde (14) vs. Mauritania (22)Egypt (5) vs. DR Congo (13)Equatorial Guinea (18) vs.
Source:The North Africa Journal
January 25, 2024 09:58 UTC
Niger : Bank of Africa, a beacon for Moroccan firms in Niger
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Source:The North Africa Journal
January 25, 2024 09:42 UTC
Why the War in Gaza Makes a Nuclear Iran More Likely
Since the start of the war in the Gaza Strip, Iran’s government has sounded bullish, even triumphalist notes. The war has bogged down its chief regional foe, Israel, in a protracted and perhaps unwinnable conflict. Yet for Tehran, the ongoing conflict may not end in anything like the clear-cut victory it has already claimed. Hezbollah—Tehran’s most capable ally—has lobbed missiles at Israel, but it has not sparked an all-out war on the country’s northern border. The overall message is clear: Iran can cause chaos, but it is not strong enough to go on a real offensive.
Source:The North Africa Journal
January 25, 2024 09:38 UTC
Egyptian ed-tech startup Edura raises pre-seed funding round
Egyptian ed-tech startup Edura has raised an undisclosed pre-seed funding round to enhance its capabilities, expand operations, and deepen research and innovation. Founded in 2021, Edura is an interactive educational platform that connects teachers and students through recorded or live interactive lessons. The platform offers innovative services, including interactive educational sessions, online assessments, and recorded student evaluations during the study period. In 2023, Edura has delivered over 7,000 educational lectures, facilitated by more than 2,400 registered teachers on the platform. “With the emergence of the COVID-19 pandemic in 2020, the education sector witnessed a significant transformation and a pressing need for educational platforms that combine traditional and modern methods.
Source:The North Africa Journal
January 25, 2024 09:05 UTC
AFCON 2023 round of 16 preview: Full schedule and how to watch live
After a group stage full of shocks, including football heavyweights Ghana, 2019 winners Algeria and Tunisia being eliminated, the 2023 CAF Africa Cup of Nations is into the knockout rounds. The last 16 teams to have survived the first round include surprise names like Mauritania, playing in just their third ever AFCON tournament, while big names like Egypt and hosts Côte d'Ivoire only barely made it through to the second round. From 27 to 30 January 2024, the last 16 teams will face each other for a shot at making the quarter-finals, while also discovering their opponents for the next round.
Source:The North Africa Journal
January 25, 2024 08:19 UTC
AFCON 2023: FRMF to appeal coach Regragui’s suspension – The North Africa Post
The Royal Moroccan Football Federation (FRMF) has responded to the suspension imposed by the Confederation of African Football (CAF) on national head coach Walid Regragui following incidents at the end of the Morocco-DR Congo match. In a statement released this Wednesday, January 24, immediately after CAF announced its decision to suspend Walid Regragui for four matches, including two with a suspended sentence, along with a fine, the FRMF reacted strongly and made known its decision to appeal this suspension, which it deems “unjust.”The top governing authority of national football said it has decided to appeal this “incomprehensible decision because Coach Regragui did not violate, at any moment, the values of fair play.”In an earlier clarification in response to the controversies following the Morocco-DR Congo match, the FRMF emphasized “the special and historical relations between the Kingdom of Morocco and the Democratic Republic of the Congo, as well as the fraternal ties between the peoples of the two countries.”
Source:The North Africa Journal
January 25, 2024 08:06 UTC
All you need to know: Australia v South Africa T20Is
The first-ever multi-format, points-based series between Australia and South Africa gets underway with three T20Is from SaturdayT20 series factsWho: Australia v South AfricaWhat: Three-match T20I seriesWhen and where: January 27 and 28 at Manuka Oval (10.45am AEDT) and January 30 at Blundstone Arena (7.05pm AEDT). Possibly the biggest weakness for South Africa is the players who are not part of this series. South Africa were last in action in December, when they hosted Bangladesh in three T20Is and three ODIs. The multi-format tourAustralia and South Africa are set to meet in three T20Is, three ODIs and the first ever Test between the teams over the course of then next few weeks. South Africa have played Australia twice in ODIs at Manuka Oval, with the hosts winning on both occasions in 2016.
Source:The North Africa Journal
January 25, 2024 07:38 UTC
European Union ports join up in fight against drug smuggling
January 25, 2024 08:33 am | Updated 08:33 am IST - BrusselsThe EU on Wednesday launches a “European Ports Alliance” to harmonise methods in the fight against drug smuggling and to combat the hubs’ infiltration by criminal groups. In the European Union, nearly 70% of drug seizures by customs services are made in the bloc’s ports. That shows the need for more cooperation, not only between police and customs services but also with private operators in the ports, Ms. Johansson said. Smugglers also send drug shipments to West and North Africa, where they are loaded onto small boats that go to mainly Spanish ports, Ms. Johansson said. Currently, fentanyl use is “still on a very low level” in Europe, Ms. Johansson said.
Source:The North Africa Journal
January 25, 2024 06:06 UTC