Southern Africa

Uganda's EACOP Pipeline worth $5 billion gets a funding boost

EACOP Ltd, the company responsible for building Uganda's EACOP oil pipeline, announced on Wednesday that it had closed its first external financing round from a consortium of institutions which included commercial banks and Afreximbank. Standard Bank, Stanbic Bank Uganda, KCB Bank Uganda, and the Islamic Corporation for the Development of the Private Sector in Saudi Arabia are among the financiers. The statement stated that "the successful closure of this first tranche is a significant landmark." The statement did not give a value to the financial backing. Uganda's Energy Minister said in October that the partners of the $5 billion East
Freight Logistics

South Africa will issue a request for proposals in August for private sector rail investment
Hapag-Lloyd's earnings are expected to fall further this year due to US tariffs and Suez.

Hapag-Lloyd, a container shipping company, said that its net profit dropped nearly 19% between 2024 and this year. U.S. Tariffs and Houthi militants attacks on ships in the Red Sea are threatening the outlook. The fifth largest container ship in the world said that President Donald Trump's policies on tariffs were impacting demand. In addition, the timing of operators returning to the Red Sea will be crucial for the operational performance by 2025. The economic and geopolitical climate remains fragile. "In this context, earnings in 2025 are expected to be lower than they were in 2024," said he. He said
Transportation

Hapag-Lloyd to reduce dividends after 2024 due to a 19% decrease in net profit
Trump brings South Africa closer to the EU with 4.7 billion Euros pledged by the EU

On Thursday, European Union leaders visited South Africa and announced a 5.10 billion euro (5.10 billion euros) investment package. This comes at a moment when the United States is on a worse relationship with both countries than it has been in decades. The European leaders claimed that the visit would be an opportunity to deepen ties with Africa’s most developed economy. This coincided with the presidency of the G-20 nations by the African nation, which U.S. officials had so far largely ignored. Donald Trump, the U.S. president, has shocked European leaders by his shift towards Russia during the Ukraine conflict.
Transportation

South African power cuts continue as key plants fail

Eskom, the South African electricity utility, resumed its scheduled power cuts Friday after the outages at the country’s nuclear power plant and one of its massive coal plants. Eskom said that due to the loss of electricity from the units at the Koeberg Nuclear Plant and Kusile Coal Station, it was 2,700 Megawatts (MW), short of its capacity for the last 14 hours. It will carry out "Stage 3", which requires up to 3,000MW of power to be removed from the grid until Monday morning, while it replenishes emergency reserves. Eskom said it was focusing on the deployment of extra
Golf-Whitnell sinks 2 hole-in-1s in the second round of S.African Open

Transport Infrastructure

Norris wins at Leopard Creek to take 2nd DP World Tour title

Shaun Norris of South Africa won the Alfred Dunhill Golf Champion at Leopard Creek Nation Club on Sunday after a finalround 67 provided him a 13underpar overall of 275 and a oneshot victory. It was a second win in the DP World Trip for the 42-year-old, who started with an eagle at the 2nd and got rid of a double bogey on the seventh to take an early clubhouse lead. Norris started the day 6 off the lead but saw as his challengers fell short on the final holes. Englishman John Parry, Ryan van Velzen from South Africa and over...

Transport Infrastructure

Kinhult opens three-shot lead at Alfred Dunhill Championship

Sweden's Marcus Kinhult carded a 68 in his second round to open a threeshot lead at the middle of the DP World Tour's Alfred Dunhill Championship dipped into a blistering Leopard Creek Country Club on Friday. Kinhult, 28, sunk 7 birdies but also carded three bogeys as he moved to 11 under-par for the competition, opening some daytime in between himself and a trio of gamers on 8 under-par-- South African Dean Burmester (67 ), Dale Whitnell (67) from England and Italian Andrea Pavan (69 ). Kinhult is hunting a 2nd win on the European circuit, his first coming at...

Transport Infrastructure

Pilots strike at South African Airways ends, broadcaster eNCA reports

Pilots at South African Airways agreed on Saturday to end a strike that had actually caused the cancellation of nearly half the carrier's flights on its very first day, broadcaster eNCA reported. The provider reached an agreement with SAA Pilots Association and National Transportation Motion to suspend the strike, according to eNCA, two days after pilots went on strike following a. deadlock in pay talks. South African Airways did not right away react to a. ask for comment outside regular company hours. The unions. might not be instantly reached. Talks in between the unions and the airline on improving. working...

Transport Infrastructure

Guerrier leads at Sun City after difficult second round

Frenchman Julien Guerrier carded a rollercoaster 68 on Friday to take a oneshot lead at the midway mark of the DP World Tour's Nedbank Golf Obstacle at Sun City, topping the leaderboard with a modest competition overall of five underpar. Guerrier, who declared a first DP World Trip title in Andalusia in October, sank 8 birdies however likewise carded 4 bogies as all gamers discovered the back 9 in specific an obstacle in the 2nd round. Protecting champion Max Homa (75) from the United States looked set to top the leaderboard until he suffered successive double-bogeys on the par-three 16th...

Transport Infrastructure

South African Airways cancels some flights as pilots go on strike

South African Airways said it had actually cancelled flights to Perth and Sao Paulo on Thursday after receiving confirmation from the SAA Pilots Association that they planned to strike following a deadlock in pay talks. The company decided to cancel the Perth and Sao Paulo paths last night after being told the strike prepared for Thursday would proceed, Khaya Buthelezi, the airline company's senior supervisor of business relations, told Reuters. That's the choice we took last night given that we could not find partner airlines that we can move our clients to, it ended up being clear that those two...

Transport Infrastructure

Golf-McIlroy wins DP World Tour Champion and sixth Race to Dubai title

World number 3 Rory McIlroy ended the season on a high by winning the DP World Tour Championship in Dubai on Sunday, two strokes ahead of Rasmus Hojgaard, to seal his 6th Race to Dubai title. The 35-year-old Northern Irishman carded a 69 in the final round at the Jumeirah Golf Estates to finish on 15 under par after two birdies in the final 3 holes saw off the challenge of Denmark's Hojgaard. McIlroy equalled the six titles won by the late Seve Ballesteros in the European Tour's season-long Race to Dubai, formerly called the Order of Merit. Scotland's Colin...

Transport Infrastructure

McIlroy wins DP World Tour Championship and sixth Race to Dubai title

World number three Rory McIlroy ended the season on a high by winning the DP World Tour Championship in Dubai on Sunday, 2 strokes ahead of Rasmus Hojgaard, to seal his sixth Race to Dubai title. The 35-year-old Northern Irishman carded a 69 in the final round at the Jumeirah Golf Estates to complete on 15 under par after 2 birdies in the last 3 holes saw off the obstacle of Denmark's Hojgaard. McIlroy equalled the six titles won by Seve Ballesteros in the European Tour's season-long Race to Dubai, previously called the Order of Benefit. Scotland's Colin Montgomerie holds...

Transport Infrastructure

McIlroy wins DP World Tour Championship and sixth Race to Dubai title

Mozambique authorities fire tear gas as opposition supporters march on capital

Mozambican authorities fired tear gas at numerous opposition supporters assembling on the capital Maputo on Thursday for the most significant presentation yet against last month's contested election. Human rights groups say at least 18 individuals have been killed in the police crackdown on demonstrations because the Oct. 9 vote, which extended ruling party Frelimo's five years in power. Opposition parties, civil society groups and Western observers said the election was unjust and that results were modified. A Frelimo spokesperson did not respond to ask for comment. The celebration has actually likewise been implicated of vote-rigging in previous polls and has...

Grindrod suspends port operations in Mozambique after border closure

Logistics company Grindrod has actually suspended port and terminal operations in Mozambique after South Africa temporarily closed the primary border with its northeastern neighbour over safety concerns after a violent crackdown on postelection protests, the company stated on Thursday. The suspension will hit the movement of goods and products in a region already battling with logistical traffic jams as under-funded state-owned port and rail companies struggle to provide adequate services. A minimum of 18 individuals have actually been eliminated in the protests, human rights groups have actually stated, as opposition advocates show versus what they say is a deceptive election...

Financial Times - October 28

The following are the top stories in the Financial Times. Reuters has not confirmed these stories and does not guarantee their accuracy. Headings - Starmer to pledge to 'em brace financial reality' in the Spending plan - France and Germany attack UK plan to levy VAT on worldwide school costs - Rachel Reeves will not unveil new freeports in Spending plan, authorities admit - New employer seeks to bring Naspers out of Tencent's shadow Overview - British Prime Minister Keir Starmer will say on Monday he need to be evaluated on his ability to tackle unprecedented. economic obstacles he inherited...

South Africa's Transnet looks for financial obligation relief from government

South Africa's Transnet is looking for debt remedy for the federal government as it seeks to fix its balance sheet and restore freight rail and port capability, the stateowned logistics company's chairman said on Tuesday. Transnet is saddled with 130 billion rand ($ 7.30 billion) in debt and has actually had a hard time to supply appropriate freight rail and port services due to devices shortages and upkeep backlogs after years of under-investment. Last December, South Africa's government said it had handed Transnet a 47 billion rand guarantee center to assist the business fulfill immediate liquidity matters such as settling...

Thungela CEO sees South Africa coal exports rebounding as rail improves

Thungela Resources , a South African exporter of thermal coal burned in power stations, expects the nation's deliveries of the fossil fuel to rebound from next year as rail bottlenecks ease, CEO July Ndlovu said on Monday. The country's coal shipments fell to a three-decade low of about 47 million lots each year in 2023 as state-owned ports and rail company Transnet had a hard time to move adequate volumes to ports due to lack of engines and spares, in addition to cable television theft and vandalism of infrastructure. Coal deliveries might increase to more than 50 million loads per...

Passenger Transportation Services

Pilots cancel strike at South African Airways

Pilots at South African Airways (SAA). settled on Saturday to end a twodayold strike that resulted in the. cancellation of almost half of the provider's flights on its. initially day, the company stated. The airline company reached an arrangement with the SAA Pilots. Association (SAAPA) to halt the demonstration, the company stated in a. statement, two days after the pilots went on strike following a. deadlock in pay talks. SAAPA's preliminary demand in May was for a 30% boost in. pilot wages, which was consequently lowered to 15.7%,. consisting of associated benefits. SAA, which initially offered an 8.46% pay boost...