South Africa & SAA – $1.34bn
The South African government remains confident that South African Airways (SAA) could return to profitability, according to Deputy President Cyril Ramaphosa. The Treasury agreed to grant SAA, a special appropriation of R10bn ($705m). The government has also issued a R19.1bn ($1.34bn) guarantee facility to ensure the company continues to operate.
Africa & Infrastructure – 40%
It is estimated that corruption can add up to 30% or 40% of initial infrastructure project cost. This according to Chris Heathcote, CEO of the Global Infrastructure Hub. Heathcote was participating in the First African Roundtable on Infrastructure Governance in Somerset West, South Africa last week.
DP World & Africa investment
DP World looks to Africa for increased investment and expansion. DP World chairman and CEO Sultan Ahmed Bin Sulayem, met with Africa leaders of Rwanda and Ghana at the Global Business Forum on Africa. DP World has partnered with local governments in Algeria, Egypt, Djibouti, Senegal, Mozambique, Rwanda and Somaliland during the last couple of years, developing port infrastructure, inland container depots (ICDs), multimodal and streamlining supply chains to facilitate trade.