Items filtered by date: Friday, 03 November 2017

Ivory Coast started producing power on Thursday at a 275 megawatt (MW) hydroelectric plant that will boost the country’s electricity output by more than 10 percent.

Ivory Coast, the world’s top cocoa grower, has emerged from a decade-long political crisis as Africa’s fastest-growing economy, but that growth has strained power supplies. The new plant near the southwestern city of Soubre was financed by a $500 million low-interest loan from China’s Export-Import Bank and built by China’s state-owned hydropower engineering firm Sinohydro Corp.

“The Soubre dam will allow Ivory Coast to produce abundant and inexpensive electricity,” President Alassane Ouattara said at the inauguration ceremony. “We are going to continue constructing other hydroelectric plants.”

Sinohydro started construction on Thursday of another 112 MW hydro plant near Soubre, which is expected to take three years to build. The Ivorian government will fund half of the $306 million cost, with the rest coming from bilateral donors.

Unlike many countries in sub-Saharan Africa, Ivory Coast has a reliable power supply. It exports electricity to neighbours Ghana, Burkina Faso, Benin, Togo and Mali, and plans to extend its grid to Liberia, Guinea and Sierra Leone this year.

But with domestic consumption rising by about 10 percent a year, the government is under pressure to boost supply at home and aims to increase output to 4,000 MW by 2020, from the current 2,275 MW. 

 

- Reuters

Published in Engineering

Chinese telecoms giant ZTE says it intends to expand its footprint in Zimbabwe’s information technology and communication (ICT) sector with plans to invest in 4G and 5G technology.

ZTE chief operating officer Huang Dabin told journalists on Wednesday that the company was considering to set up base in Harare for its fibre business. “We see many opportunities here and we understand that there maybe challenges now but we think they are short-term issues…We believe with the effort of both sides we can find solutions going forward,” said Dabin.

“There are new opportunities in high power optical fibre and we think that the ICT industry has new opportunities in 4G and 5G technology. So in all these areas we think that it is a billion of dollars worth of opportunity.

ZTE is already working with state owned fixed line operator,Telone, to expand the country’s backbone fibre network. The company is also a key supplier to mobile network operators Telecel and Econet.

 

- (The Source)

Published in Business

Namibia’s economy will grow at 1.6 percent this year and by double that in 2018 as the mining sector emerges from years of contraction and the impact of recent severe drought eases, the finance minister said on Thursday.

“Growth will be led by recovery in the primary industries, particularly mining and agriculture,” Finance Minister Calle Schlettwein said in a mid-year budget speech in parliament.

Schlettwein warned that poor regional growth, particularly in neighbouring South Africa, remained a major risk. In August, Moody’s cut the southern African nation’s sovereign credit rating to Ba1, or junk, from Baa3 citing a negative growth outlook and large fiscal deficits.

At the time Schlettwein rejected the downgrade as premature and speculative.

 

(Reuters)

Published in Economy
Friday, 03 November 2017 05:33

Hilton Hotels Branches Out in Africa

Hilton and Transcorp Hotels Plc, a subsidiary of Transnational Corporation of Nigeria Plc announced the signing of a 20-year extension to the current agreement to manage the iconic Transcorp Hilton Hotel in Abuja.

The agreement will see Hilton manage the property until 2037. The hotel, which is a national landmark for having hosted countless heads of state and global events like the World Economic Forum on Africa, has been operated by Hilton since its opening in 1987.

Speaking at a signing ceremony in Washington DC, Chris Nassetta, Hilton's President and CEO, said: "We have had an incredible relationship with the Transcorp team and we are happy to announce that we will continue to grow that relationship throughout the next 20 years. With our mission to be the world's most hospitable company, I am delighted we will be able to continue welcoming guests to this hotel until at least 2037."

The award-winning 667-room hotel - one of the largest in sub-Saharan Africa - is currently undergoing a multi-million dollar renovation which will transform the property. The extensive refurbishment will continue the Transcorp Hotels legacy as the leading provider of hospitality in Nigeria.

The Chairman of Transcorp Plc, Tony O. Elumelu, the largest listed conglomerate on the Nigerian stock exchange and owners of hospitality subsidiary, Transcorp Hotels confirmed: "We are delighted to continue our long-standing owner-operator relationship with Hilton. Our investment in the renovation reflects our commitment to shaping Nigeria into a leading hospitality centre in the West Africa region and with Hilton as our operating partners, we are confident that we will continue to lead in the sector."

Hilton and Transcorp Hotels have two additional properties in the development pipeline. Furthermore, Hilton expects to open six hotels in the next six months across Africa, and open properties in 15 countries where it currently does not operate in the next three years.

Also at the signing ceremony, Valentine Ozigbo, CEO of Transcorp Hotels who leads the management of the relationship between the owners and Hilton, commended Hilton for their clear commitment to delivering excellence and restated the owners' commitment to continue to use technology and products to develop the hotel as a destination not just for high-end clientele, but also for those travelling to Abuja for business and leisure.

Hilton, which has more than 5,000 hotels globally, has had a continuous presence in Africa for more than 50 years, expects to more than double its current presence across the continent in the next five years.

 

- This Day

Published in Travel & Tourism

There were scarcely any hints of the tumultuous years that would follow the swearing-in of Dr John Pombe Magufuli on 5th November 2015 as Tanzania’s fifth president. After all, his Chama cha Mapinduzi (CCM) had been in power for decades, and his victory seemed to herald continuity with the past.

In fact, Magufuli’s opponent attracted more attention during the campaign than Magufuli himself. When Edward Lowassa defected from CCM to the opposition and ran for president against his old party, it looked fleetingly as though this elite split might spell the end of CCM’s dominance.

But Magufuli has not brought continuity, but dramatic change. He began to impress just days after his inauguration. He made a snap unannounced visit to the Ministry of Finance on his first day as president. Then he pulled funds intended for Independence Day celebrations and redirected them to anti-cholera operations. He began a shake-up of the Tanzania Port Authority, and extended it to the Tanzania Revenue Authority as he launched a tax collection drive. An audit of the public payroll led to a purge of “ghost workers”. Quickly, it became apparent that he was genuinely waging war on corruption in the Tanzanian state.

The primary victims of these anti-corruption operations have been mid- and low-ranking civil servants. However, Magufuli has taken on high elites in CCM selectively too. In May, he fired Minister of Energy and Minerals Sospeter Muhongo. This June, CCM MP Andrew Chenge found himself in court, facing government prosecutors in court. Both were linked to a major corruption case, the Escrow Scandal in 2014.

This thrift and intolerance for corruption won Magufuli attention and admiration worldwide. In the social media sphere, commentators celebrated his zeal playfully with the hashtag, “#WhatWouldMagufuliDo”.

But since early 2016, it has become apparent that Magufuli is not just waging war on corruption – he was also declaring war on democracy.

War on democracy

Magufuli has overseen numerous closures and suspensions of media outlets. His officials have encouraged and tried to exacerbate a split in the Civic United Front, by backing one side. His government has undermined judicial and parliamentary independence, implemented a partial ban on public rallies, harassed MPs, closure of online political space, and prosecuted critics under new defamation and sedition laws.

Together, these constitute major infringements on the freedom of expression and the opposition’s ability to communicate with voters.

In March this year he announced at a press conference that:

Media owners, let me tell you: ‘Be careful. Watch it. If you think you have that kind of freedom — not to that extent’.

In part, this repressive streak is a return to form. CCM has a long history of authoritarianism. It has ruled Tanzanian uninterrupted since 1977, and its predecessor parties ruled Tanganyika since 1961.

But there is a more immediate reason that Magufuli is tightening the noose on the opposition. The opposition has never been so strong. In 2005, CCM’s Jakaya Kikwete won the presidential election with an unassailable lead of 68% over the runner-up. By 2015, CCM’s margin of victory had been shortened to 18%. For the first time in Tanzania’s history, the opposition is a force to be reckoned with.

The most plausible explanation for Magufuli’s authoritarian turn is that he is trying to minimise the possibility of an opposition victory in the future. Equally, every time he advances the anti-corruption agenda, he makes more enemies who might defect to the opposition. By narrowing space for opposition, he reduces the risk of them doing so.

But Magufuli is not only relying on repressive means to stay in power. He is also pursuing a programme that revives his popularity.

The Magufuli way

The third and most recent theme in Magufuli’s presidency has been a confrontation with multinational mining companies.

The controversy was kick-started this is the alleged discovery that Acacia Mining has been under-reporting of mineral exports earlier this year. Magufuli has argued that multinational mining companies have been stealing Tanzania’s resources for years.

Based on these claims, the government charged Acacia Mining with fines and back-dated taxes amounting to USD$190 billion. Magufuli even threatened to nationalise the mines. His strategy of brinkmanship worked. On October 19th, Acacia’s parent company Barrick Gold announced that it had reached an agreement with the Tanzanian government. It promised to find ways to further process copper-gold ores in Tanzania, instead of exporting them for smelting, and it made a number of pecuniary concessions.

There is a strategic thread that ties together Magufuli’s actions.

Tanzania’s fifth Five Year Plan restores industrialisation to the heart of government policy in a way unseen since the 1970s. Domestic processing and tax revenue is central to that plan. So is government discipline, thrift and tax collection. The closure of political space keeps CCM in power to implement it, and suffocates internal opposition to his reforms.

But the definitive feature of Magufuli’s first two years has been a talent for pursuing his programme of reform while pursuing domestic popularity at the same time. His taste for the dramatic has caught public attention and his willingness to disturb the status quo has convinced many that his intentions are more sincere than those of his predecessors. Perhaps more than any other president since Tanzania’s founding father, Julius Nyerere, Magufuli is seen as a man of integrity.

While Magufuli has skilfully coupled popular politics with fundamental reform, he has also precipitated a series of unintended changes which may be slipping beyond his control.

His demands from companies have unquestionable merit, but they are also making businesses think twice about operating in Tanzania. For example, a number of oil companies are due to begin negotiations about developing off-shore gas fields. After the debacle with mining companies they know that they will not get an easy deal, but they may also doubt the word of a government that has in effect torn up contracts, and repeatedly placed the president at the centre of contract negotiation.

Equally, by putting such pressure on the opposition, Magufuli may make it stronger. Attempts to divide the second opposition party, the Civic United Front, may drive them closer to Chadema. They may also unintentionally make martyrs of the opposition. An attempted assassination attempt transformed opposition politician Tundu Lissu into a national hero.

It is not known who is behind the drive-by shooting that hospitalised Lissu, in which at least 28 shots were fired, but Lissu was among the most vocal opponents of the government. He was being tried in court for sedition just days before he was shot. No matter who was behind the attack, it is fast becoming the public image for the extremes of political change in Tanzania under Magufuli.

Many underestimated Magufuli at his inauguration two years ago, but few do now. While Magufuli’s election represents the continuation of CCM rule, he has brought about profound change. Only time will tell whether the intended or the unintended consequences of his actions will be those that define his legacy.

 

Dan Paget, DPhil Politics (African electoral politics), University of Oxford

This article was originally published on The Conversation. Read the original article.

Published in Economy

  1. Opinions and Analysis

Calender

« November 2017 »
Mon Tue Wed Thu Fri Sat Sun
    1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30