AFRICAN BUZZ
The drilling team will also be able to measure the temperature of
the water in the boreholes in order to determine the geothermal
energy potential of the Bushveld Complex.
ETHIOPIA:
BLUEPRINT DRIVES GROWTH
The government of Ethiopia has unveiled what it describes as a
‘Homegrown Economic Reform’ agenda aimed at unlocking the
country’s development potential.
“Several months in the making and spearheaded by some of
Ethiopia’s finest minds, our initiative aims to propel Ethiopia into
becoming the African icon of prosperity by 2030,” said Prime
Minister Abiy Ahmed of Ethiopia.
He made the remarks late last year during an event to unveil
the Reform Agenda at the United Nations Conference Centre in
Addis Ababa.
The Agenda outlines macroeconomic, structural and sectoral
reforms that will pave the way for job creation, poverty reduction,
and inclusive growth.
Ahmed said that, in just over one year, his government has
taken a series of measures to shift the economic landscape
of Ethiopia, such as reforms in investment laws and business
climate, which have helped remove regulatory obstacles that
hamper investment.
The Prime Minister said that the private sector was crucial
for the next chapter of Ethiopia’s growth and development.
Consequently, he said, we have “opened up key economic
activities to private investments,” adding that these measures will
“surely be reflected in Ethiopia’s ease of doing business ranking.”
He pointed out that to ensure the success of the Agenda, “we
are tightening our fiscal belts, strengthening our public sector
finances, shedding our debts, and increasing domestic resource
mobilisation.”
The Agenda prioritises sectors such as agriculture, manufacturing,
mining, tourism, and ICT.
PAN AFRICAN:
AFRICA NEEDS TO SCALE UP
Delivering economic growth in Africa requires home-grown
businesses to scale up. This is according to a new report by
The Economist Intelligence Unit (EIU), Promise and perils:
Scaling up businesses in sub-Saharan Africa. The report
examines factors that enable businesses in the region to scale
up. It reviews the policy environment, state of technology
and infrastructure, and financing options that allow
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“This project is aimed at clarifying some of these unresolved
issues, including improving our understanding of the magma
chamber processes operational within the Bushveld Complex, the
source of the magmas and their interaction with the rocks that
they intruded, the origin of the abundant ore deposits within the
complex, and the geophysical properties of the rocks. We also
hope to learn more about the hydrogeological characteristics of
the Bushveld Complex at depth, its geothermal energy potential,
and its microbial ecosystems,” says Roelofse.
For Africa to develop, infrastructure such as roads needs to be upgraded.
businesses to access markets in other countries on the
continent and beyond.
The report looks at one of the most ambitious integration
policies ever to be developed in Africa. The African Continental
Free Trade Agreement commits to reducing tariffs and non-tariff
barriers. If the entire continent were to implement the deal, it
would create a single market of over a billion consumers with a
total GDP of over USD3-trillion.
Wider and better internet connectivity will drive the next wave
of technological innovation, empowering companies to develop
new, digital services for consumers on the continent. By 2025,
3G mobile network coverage is expected to account for 61%
of the mobile phone connections. Companies from China and
the GCC have identified opportunities to expand the region’s
telecommunications networks.
Private equity and venture capital have been fuelling growth in
small and medium-sized businesses in sub-Saharan Africa. Private
equity closed deals worth USD25-billion between 2013 and 2018
and venture capital deals grew four-fold from 2017 to 2018.
PAN AFRICAN:
SCOTS EAGER TO INVEST
An all-new business network creating cross-continental
partnerships for trade and industry between Africa and Scotland
has officially launched – the Africa Scotland Business Network
(ASBN). ASBN is already supported by businesses and authorities
alike both locally and abroad.
Founding member and entrepreneur, Kaz Henderson, says that
the launch of the ASBN shows a real commitment to fostering
stronger relationships between African countries and Scotland,
creating real opportunities for all levels of business.
The ASBN is an independent business network based in Africa.
It connects African and Scottish professionals and enterprises to
increase the potential for trade and relations between the two
as well as to strengthen social and cultural ties. In addition, the
organisation welcomes members from other countries who have
a real interest in doing business with the Africa and Scotland
business diasporas.
The network connects its members with relevant business contacts,
new business opportunities and international resources such
as industry, marketing and geographical expertise. Its founding
members represent key shared economies in Africa and Scotland
including agriculture, agritech, oil and gas, renewable energy,
technology, international business strategy, education and more.
African Mining
African Mining January 2020
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