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Rio Tinto admits Mozambique concerns, withdraws expat employees

Rio Tinto admits Mozambique concerns, withdraws expat employees

Mining giant Rio Tinto says it is withdrawing the families of expat employees from Mozambique amid security concerns. The FTSE 100-listed firm said its coal mining operations in the country would continue. There is growing international concern over security in Mozambique, which is a major coal and gas exporter. There…

Angola demands 10% from all oil investments

Angola demands 10% from all oil investments

Angola, Africa’s largest oil producer after Nigeria, is imposing a consumption tax on petroleum companies that will raise some costs by as much as 10 percent, according to government documents. The law, which comes into effect with its publication that may happen as early as today, requires companies to follow a tax schedule that…

DRC wants more investors to $12b hydro project

DRC wants more investors to $12b hydro project

The Democratic Republic of Congo is open to more investors joining three groups of companies bidding to construct the $12 billion Inga 3 hydropower project, Energy Minister Bruno Kapandji said. “We’re open to other operators” joining the bid groups, Kapandji told the iPad mining and infrastructure conference yesterday in the capital, Kinshasa.…

Botswana ranked best governed in Africa

Botswana ranked best governed in Africa

Botswana’s President Ian Khama has received yet another thumbs up after his country was ranked the top African nation in this year’s Legatum Prosperity Index. The diamond-rich nation, under the leadership of Mr Khama, fared well in the Governance and Personal Freedom categories, which encompasses freedom of speech, religion, national…

BP to Invest $85 Million in Mozambique’s Oil, Modernization Projects

BP to Invest $85 Million in Mozambique’s Oil, Modernization Projects

Over the span of five years, oil giant BP will inject an $85 million investment into Mozambique’s gas and facility modernization projects, according to Macauhub. Facilities at two airports will benefit from upgrades. By enhancing production centers, the company will be able to better “meet domestic and regional demand,” Thandi Orleyn,…

South Africa Ranks No. 1 For Regulation Of Securities Exchange

South Africa Ranks No. 1 For Regulation Of Securities Exchange

For the fourth consecutive year, South Africa ranked No. 1 out of 148 countries for regulation of securities exchanges and No. 3 for market development by the World Economic Forum Global Competitiveness Report. This indicates the country is still open for business, highly competitive, and remains the market leader in Sub-Saharan…

Zambian VP “I hate backward South Africans” comment sparks diplomatic storm

Zambian VP “I hate backward South Africans” comment sparks diplomatic storm

HARARE (Zimbabwe Investor) – Zambian Vice President Guy Scott has sparked a diplomatic storm with regional ally South Africa after calling South Africans backward. The South African government has summoned Zambia’s ambassador after Scott was reported by UK paper, The Guardian, saying that South Africa were the cause of Africa’s…