Transnet National Ports Authority (TNPA) is steaming ahead with its $100m tug building contract. The company recently launched the fourth of its nine new tugs being built in Durban. The new tugs are being built over three and a half years, as part of a wider fleet replacement programme that covers tugs, new dredging vessels and new marine aviation helicopters.
$1.7 billion –
Ethiopia expects about $1.7 billion in FDI (Foreign Direct Investment) in 2016, surpassing Kenya’s projected $1.1 billion FDI this year. Kenya is East Africa’s largest economy.
The growth of e-commerce in Africa, has spurred demand for warehouses in Africa. property management company Knight Frank, estimates that the warehousing and logistics sector grew by 24% over the past 10 years in Africa.
$20 million –
CMA CGM, a French container transportation and shipping company, is investing 20 millions euros ($22 million) in Côte d’Ivoire’s logistics sector. The Marseille based company plans to create a logistics hub in Abidjan, to expand their presence in West Africa. According to CMA CGM, they control 30% of the container market in the country.
St Helena islanders want compensation over the new £285m ($ 372 million) airport that can’t open. The South Atlantic island’s runway is deemed too windy to land commercial planes. Some St Helena residents claim the they have lost tens of thousands in modernising hotels and restaurants.
Mauritius leads Africa in the Economic Freedom of the World. The East Indian island nation is followed by Seychelles, Rwanda and Uganda. Globally Hong Kong takes top honours, followed by Singapore, New Zealand and Switzerland.
Challenges for fresh produce growers and retailers in Southern Africa (Fresh Plaza)
SAA’s losses for 2014/15 almost R1bn more than R4.7bn guarantee (Fin 24)