Weir Minerals Africa’s hub for central and east Africa, the newly upgraded Kitwe facility in Zambia is offering customers world class supply chain efficiency. The branch officially opened in early 2018 and boasts a state-of-the-art logistics and supply chain management systems to match those at the company’s main distribution hub in Alrode near Johannesburg. “Our Kitwe branch now has a 100% location-controlled warehouse that runs off our enterprise resource planning (ERP) system with Wi-Fi-enabled scanners in place. This has resulted in the achievement of inventory accuracy rates in the high 90s,” says Luhann Holtzhausen, Weir Minerals Africa supply chain director. “The technology…
Author: The Editor
Novare Africa’s total investment rises to USD$130 million as Stanbic Zambia’s real estate financing tab pierces the K2 billion mark Vertigo Properties Limited, a subsidiary of Mauritian domiciled real estate development fund Novare Africa Property Fund II on 29 March unveiled its latest development called Pinnacle mall. This is situated on corner of Chindo and Mutende roads, in the up class market and suburb area of Africa’s copper producer, Zambia. This development totals the company’s investment in the Zambian real estate market to USD$130 million adding to the already existing 2 malls and a soon to be completed office park.…
Africa’s second largest copper producer Zambia will have its relaunched national airline hit the skies in the third quarter of this year. This was contained in a statement by Transport and Communications Minister Dr. Brian Mushimba said. Partners had a meeting in February to finalize among other things destination routes to Europe and Middle East. Zambia Airways earlier appointed Bruk Endeshaw Abebe as its Chief Executive Officer and will now look to fill the senior management positions as the launch draws nigh. Read also: Zambia Airways closer to hitting the skies, appoints Abebe as CEO We are committed to relaunching…
We have shifted from a narrative of debut eurobonds, to one of repeat African eurobond issuance. With Ghana’s issuance on March 26th the asset class reached $102 billion (outstanding sovereign eurobonds in euro and dollar). With record sovereign issuance of $28.4 billion in 2018, and $7.6 billion so far this year (from Egypt, Ghana and Benin in quarter one) the asset class has grown rapidly. Egypt and Ghana both included 30-year paper in their quarter one issuance. This continues a trend started in November 2017 for longer-dated paper. With increased issuance over the past two years, Egypt has surpassed South…
Business pulse in Africa’s copper producer Zambia, slid back to 48.1 as measured by Purchasing Managers Index (PMI) from a previous months rebound of 50.4. (50 is the borderline between expansion and contraction). Against all odds, easing aggregate demand characterized the month of March on account of a slow down in factory orders which then put slowed the input supply side of thee manufacturing equation. Read Also: Business activity decreases at end of Q1 Zambia’s manufacturing activity was expected to price in effects of the previous months fuel price cuts by the energy regulation board. Diesel prices were given an…
As a structured finance specialist in the World Bank Treasury, I work on a trading floor and talk to banks, investors, and development partners daily, so together we can find cost-effective and sustainable solutions to address climate change. The World Bank estimates that without urgent action, climate change could push an additional 100 million people into poverty by 2030.Climate is now a key consideration in all our development projects, and we have committed to ramp up adaptation financing to $50 billion over FY21–25. However, the public sector alone cannot finance the trillions of dollars needed for green infrastructure. We need to mobilize…
Top commercial banks in Africa’s second largest copper producer, Zambia, have predicted bullish and positive economic growth in 2019. Stanbic Bank Zambia during an economic brief dubbed Economy 360 degrees, projected positive growth for the copper producer. Speaking during the presentation Africa Research Head Phumelele Mbiyo stated that the Standard Bank Group remains bullish on Africa and Zambia. Mbiyo said the despite the economic challenges Zambia faces, the authorities have latitude to manage fiscal deficit downwards especially that it was exacerbated by infrastructure as opposed to recurrent expenditure as the case of Ghana. Mbiyo expressed confidence in the Zambian authorities…
Despite the likely adverse macroeconomic effects of Cyclone Idai, Mozambique expects a recovery in economic activity over the medium-term, boosted by gas production, the International Monetary Fund has said. Estimates show that more than 700 people have been killed and hundreds are missing after the cyclone wreaked havoc in Mozambique, Zimbabwe and Malawi. The United Nations says it has affected almost three million people, of whom nearly 500,000 have been driven from their homes. In a statement issued after a visit by a staff team, the IMF said while it was still early to precisely assess the impact of the cyclone and…
It is amazing to see banking and mining leaders partner to support an area of society that is immensely neglected – the girl child education and women’s health. After all women are factors of production which are represented by labour in the economic productivity equation. An educated and healthy labour force translates to a quality factor of production. Zambia’s largest bank by asset size, Stanbic and one of the nations top miners First Quantum Minerals (FQM) have partnered to support the Kansanshi Foundation’s Jimuka (‘Be Clever’) programme. This will accord the girls practical help required for them to stay in…
Pension fund administrator says selling group risk, retail life and short-term insurance divisions will help cut its regulatory requirements Alexander Forbes plans to sell its insurance businesses, the financial services group said on Tuesday while announcing a shift in strategy towards an “advice-led and capital-light model”. The pension fund administrator said it would look for a buyer for its group risk, retail life and short-term insurance units. By offloading those operations, the company’s regulatory requirements would decrease, it said. “The disposal of these premium businesses will be based on a value proposition that balances appropriate solutions for our clients, protects…