Democratic Republic of Congo: Latest News
Kevin Mwanza, 10:42 am
The Chinese government has signed a deal with Sudan, an African country with questionable human rights history, to help it build a nuclear power plant for “peaceful use”, Xinhua reported on Tuesday. This will be the first nuclear energy station for Sudan that could help the North-Eastern African nation meet its growing energy need, while China steps towards increasing its technological footprint on the continent.
Kevin Mwanza, 4:38 am
A majority of Africa’s most powerful militaries ranked by the latest report by Global Fire Power (GFP) are from the northern part of the continent indicating increased spending in the region after the Arab Spring of 2011. The report shows that six out of the top 12 countries on the continent surveyed are from North Africa. Egypt and Algeria maintained their position at the top the chart of 30 African countries included in the index.
Dana Sanchez, 11:31 am
SA authorities pursued nine Chinese fishing vessels over the weekend in marine protected waters, detained one, then on Monday welcomed a Chinese destroyer to the Simon’s Town naval base for a friendly four-day visit. “It is going to be interesting to see how this is explained away,” said an online commentator. The Chinese fishing fleet makes headlines in many parts of the world. Their activities are designed to stay below the threshold of conflict, but gradually assert claims that other countries dispute, said a U.S. defense official.
Lillian Mutiso, 5:41 am AFKI Original
African economies have experienced high growth in recent years as the continent continues to attract investors due to its vast natural resources. Infrastructural and technological developments have also opened up the continent to the rest of the world. Despite a recent slowdown in some economies, including Nigeria and South Africa, due to a commodities price slump globally, African countries are still among the fastest growing economies in the world in 2016.
Kevin Mwanza, 8:40 am
China has pledged to finance the Tanzania-Zambia Railways (Tazara) and extend it to four other countries. Official from the three governments are meeting in Dar es Salaam to put together details of the plan whose proposal include reducing the bloated Tazara workforce. The plan will include renovating the 1,860 kilometres track and linking Tazara to Tanzania’s new Bagamoyo port and to Malawi, the Democratic Republic of Congo, Rwanda and Burundi.
Dana Sanchez, 5:03 pm
South Africa already had a thriving money transfer market when Vodacom introduced M-Pesa there. About 75 percent of South Africans have financial inclusion in traditional banks. Vodacom is shutting down M-Pesa in South Africa, but is still operating in Kenya, Tanzania, Lesotho, Mozambique and DRC. “Since the day of the launch in 2010 in South Africa, I’ve questioned the viability of it in this country because of the fact that the success factors for M-Pesa in Kenya were not present in South Africa,” an expert said.
Dana Sanchez, 9:40 am
At a time when few other firms are investing in South African mining, De Beers’ $2 billion investment in its Venetia diamond mine has been described as “stupendous.” The company is betting its investment will pay off as diamonds get harder to find in open pits near the Earth’s surface. Global diamond prices have fluctuated wildly the last 8 years. De Beers in 2015 sold two mines in Canada and Botswana.
Staff, 6:55 am
The sale of the Tenke Fungurume mine in the DRC will be seen as one of the mining industry’s biggest forced sales after a steep commodity downturn that has pushed several companies to take drastic action to shore up their balance sheets. It is the second large acquisition within two weeks by China Molybdenum, a Chinese natural resources group that said this month it wanted to expand its global presence.
Staff, 4:08 am
Bharti Airtel Africa on Thursday said it will sell 950 mobile towers in Congo to telecom infrastructure company Helios Towers Africa (HTA) but did not disclose the deal size. “The agreement is in line with our stated philosophy of divesting passive infrastructure and promoting sharing of towers to enhance operational efficiencies. Airtel remains committed to DRC and will continue to invest in its operations,”
Dana Sanchez, 11:12 am
Electricity distribution in Ivory Coast is controlled by a unit of Eranove, which is 56 percent owned by Washington, D.C.-based private equity firm Emerging Capital Partners and 19 percent by Paris-based Axa. Eranove also has a stake in the country’s water distribution. Eranove says it operates an installed electricity capacity of over 1100 megawatts in Ivory Coast. That’s more than half Ivory Coast’s power production capacity.
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