Tag Archives: production
production: Latest News
Dana Sanchez, 12:15 pm
The deal could create a new liquified natural gas hub in Africa. BP is on a spending spree, bulking up its new drilling resources after years of selloffs. BP sold assets worth $40 billion since 2010 to cover the $60 billion costs of the Deepwater Horizon oil spill in the Gulf of Mexico. When Kosmos discovered the gas field off the coast of Mauritania and Senegal, investors were skeptical. “We think we’ve opened up one of the largest areas in the Atlantic basin in the last 15 years,” said the Kosmos CEO.
Dana Sanchez, 2:53 pm
Nigeria’s top shrimp producer, Atlantic Shrimpers has unveiled a 400-acre shrimp farm that it says will be the largest in sub-Saharan Africa, producing shrimp for Nigeria and the export market. A French-owned shrimp farm in Madagascar that is about 10 times bigger may already have claimed that title. Owned by a French company, the farm in Northwest Madagascar is one of two spread over 4,000 acres of natural clay soil, producing more than 5,000 tons of shrimp per year. The Madagascar farm is also the first in Africa to get international certification that promotes responsible fish farming.
Dana Sanchez, 11:23 am AFKI Original
The concept of car ownership is changing globally with a significant shift to ride sharing in congested European cities. This trend is not expected in sub-Saharan Africa, where vehicle ownership is still seen as aspirational. The auto market is relatively new in sub-Sahara compared to more mature European and American markets. Despite new vehicle sales continuing to fall in South Africa, key automakers have increased investment in manufacturing. This investment is seen as positive not only for South Africa as a manufacturing hub but for all of Africa.
Kurt Davis Jr., 1:07 pm AFKI Original
After-work teas are becoming after-work beers and glasses of wine in Africa. As incomes grow in sub-Saharan Africa, consumers are demanding better quality wine and spirits – both imported and locally made. “Drink more please” — it’s not the best parenting line but it is the thinking of many top executives at wine and spirit companies. Sub-Saharan Africans drink 10-to-11 liters of beer per person per year. Comparatively, Asians drink about 19-to-20 liters and Americans drink about 73-to-74. Only South Africans drink more than the global average — around 46 liters.
Dana Sanchez, 3:05 pm
Land O’Lakes, one of the top dairy co-ops in the U.S., has partnered with Bidco, the No. 1 edible oil manufacturer in East and Central Africa, to create Bidco Land O’Lakes, an animal feed production business based in Kenya. Land O’Lakes is known for Purina animal nutrition, and chose Bidco for its market knowledge and distribution networks across East Africa. The U.S. business has done aid work in Africa for decades but evolved to an ownership role in 2015 with a South African acquisition.
Staff, 4:37 pm
Democratic Republic of Congo has been one of sub-Saharan Africa’s strongest performers in terms of real gross domestic product growth over the past five years, as the economy recovers from a civil war that ended in 2003. But uncertainty over whether the country will hold elections this year has alarmed foreign investors. A slump in global commodities prices hit DRC’s mining industry, which has been forced to scale back production.
Dana Sanchez, 2:55 pm
The rough diamond market appears to be making a cautious recovery. Polished diamonds? Not so much. Monthly fluctuations show it’s too soon to tell. Lack of firm evidence for a diamond market recovery is not deterring diamond exploration. A Namibian joint-venture with De Beers recently took possession of its sixth mining and exploration vessel, price tag: $160 million. It’s the most sophisticated diamond sampling and exploration vessel in the world, and will operate off the Namibian coast.
Dana Sanchez, 1:28 pm
Ethiopia has the world’s second-lowest vehicle-to-population ratio — two vehicles per 1,000 people. The government is geared for industrialization, and Ethiopia is the African economy that is most similar and arguably likely to replicate China’s development successes, says Deloitte. Four countries in North and South Africa account for 80 percent of new car sales in Africa. Here’s how that’s likely to change.
Dana Sanchez, 5:12 pm
Just generally, 2015 has been an exceptional year for South African wine. The number of wine producers is shrinking in South Africa, but they’re making better quality wines. The grape harvest was early and the quality excellent. SA wine doubled market share in China by mid year. SA wines are the surprise of the year, critics say.
Dana Sanchez, 10:46 am
Disney Africa is not all about theme parks and cruise ships. With three TV channels and more and more movies being shot, it’s about creating content. Lack of infrastructure is the biggest challenge for extending the Disney brand across the continent, says a Disney head for Africa. “We don’t build cinemas. We don’t build out pay-TV networks. We don’t build free TV broadcasters. We don’t build retail stores. That, for me, is the barrier,”
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