Africa

The Export-Import Bank of the United States has given preliminary approval for an $805.6 million direct loan to South Africa’s state-owned utility Eskom.

The financing, if eventually approved, will support Eskom's purchase of engineering and construction management services which will be used to construct the Kusile power plant, located in the Emalahleni area of Mpumulanga Province.

The loan includes a business contract for Kansas, US-based Black & Veatch to provide the engineering and construction management services to Eskom.

In 2008, things looked very uncertain for mining company Weatherly Plc. However, as CEO Rod Webster tells Jane Bordenave, overcoming a crisis has led to even greater opportunities.

Weatherly Plc is a British-based copper mining company working primarily in Namibia. It has two mining projects currently in operation—Otjihase and Matchless—both located in central Namibia; and a further two in the north of the country expected to come into production within the next three or four years.

Tellumat Electronic Manufacturing is drawing on its distinguished heritage to offer a full turnkey solution to high end industrial and consumer equipment developers.

Sekoko Resources wants to extend its reach from exploration and development to supporting South Africa’s energy independence by harnessing the resources it can recover with emerging power generation technology. Jayne Alverca reports.

Aquarius Platinum has announced the acquisition of platinum group metal (PGM) mineral rights through its purchase of South Africa-based Afarak Platinum.

Under the terms of the deal, worth $109.7 million, Aquarius will hold a 74 per cent interest in Afarak. The remaining 26 per cent is held by empowerment company Watervale, which is controlled by Savannah Resources, a major shareholder in Aquarius.

South African agricultural investment group Zeder has reported increased earnings for the year ending 28 February 2011.

The company announced that recurring headline earnings increased by 27.2 per cent to R264.7 million.

Stellenbosch-based Zeder is a long-term investor in the agriculture, food and beverage sectors. The current value of its portfolio is R2.5 billion, of which Kaap Agri and Capevin Holdings represent 78 per cent.

South Africa is planning to invest R15 billion in a new rare metals processing facility, according to a report in the newspaper Business Report.

The project, which is expected to take four years to complete, would create 43,000 direct and 86,000 indirect jobs. Staff needed to work at the facility would number around 7,000, the report said.

The African nation of Botswana is a shining example of how a country can use its natural resources wisely to reverse its fortunes, as Alan Swaby learns.

Andre van Niekerk, managing director of plant hire group Masshire, talks to Jayne Alverca about the unique benefits he believes the company offers to its growing network of franchisees.