Southern Africa

French Development Agency lends 300 million euros to South Africa's Transnet

The French development agency has agreed that the state-owned South African logistics group Transnet will receive a loan of 300 million euros ($345.78 millions) for clean energy initiatives. Transnet is responsible for managing the rail freight network, ports and pipelines of Africa's largest economy. After years of underperformance, the South African government has been trying to revive the company. This has stifled commodity exports such as iron ore and coal. However, turnaround efforts are just beginning to bear fruit. Transnet and AFD announced in a Tuesday joint statement that loan disbursements will be linked to progress made on sustainability goals,
Asia

EU Naval Force takes control of the dhow used by pirates in Somalia
Citrus exports to South Africa reach record levels, but farmers worry about US tariffs

Citrus exports in South Africa soared by 22% this year to record levels, due to higher demand, favorable weather, and the introduction of new trees, according to a growers' association. Citrus Growers Association of Southern Africa added that the record-breaking season had been marked by demand for juicing lemons and oranges on overseas markets. In the October-ending season, Spain was the world's second largest citrus exporter. It shipped 203.4 millions 15 kilogramme cartons compared to last year's 165 million. Europe accounts for 36% of South Africa's total citrus exports. The Middle East is second at 19%, and Asia comes in
Passenger Transportation

Sources say that a LNG tanker avoided pirates as attacks on Somalia escalated
Pirates board a Malta-flagged product tanker off Somalia; crew safe, manager claims

Sources in maritime security said that pirates boarded the Malta-flagged tanker, off the coast of Somalia. The vessel's manager confirmed the safety of the 24 crew members. ttacks Armed assailants have attacked vessels in the past few days, raising concerns about shipping routes in a part of the world where vital energy and goods travel to global markets. A "security incident" occurred on the Hellas Aphodite Thursday morning as it was traveling from India to South Africa. Its Greek manager Latsco Marine Management did not provide any details. Ambrey, a maritime security company, said earlier that pirates in a skiff
Ground Freight

Kumba's improved rail performance allows South Africa to haul more iron ore into port

Kumba Iron Ore, South Africa, reported on Tuesday a 12% rise in mineral shipped to ports in the third quarter of the year on the backs of improved freight rail performance. This led to a 7% increase in quarterly sales. Anglo American delivered 10,2 million metric tonnes to Saldanha Port in the third quarter. This compares to 9,1 million metric tonnage during the same time period last year. Kumba's sales totaled 9.6 million tons during the third quarter. This is up from 9 million tons. Kumba, Africa’s largest iron ore mining company, stated in a recent production update that improvements
Transnet, South Africa's infrastructure upgrader, plans to spend $7 billion

Transport Infrastructure

Abacus Storage Kings, Australia's Abacus storage King, gets a sweetened bid of $1.43 billion

Abacus Storage Kings in Australia said that it had received an improved non-binding bid from a group of Ki Corporation and U.S. listed Public Storage, valuing the company at A$2,17 billion ($1.43billion), up from its previous offer of A$1.93billion. The consortium, which included South African billionaire Nathan Kirsh’s family office Ki Corporation as well as U.S. based Public Storage, raised its offer from A$1.47 per share to A$1.65 after Abacus had rejected the previous bid in mid-May. Abacus’ independent board committee has said that it will give the consortium six-weeks of due diligence in order to determine if an agreement...

Freight Logistics

South Africa will issue a request for proposals in August for private sector rail investment

The Transport Minister stated on Sunday that the South African government and Transnet, a state-owned logistics company, are exploring new ways to encourage private investment into the country's failing freight rail network. Transnet struggles to provide adequate rail freight and port services due to equipment shortages, maintenance backlogs and rampant cable theft. In a televised address, Transport Minister Barbara Creecy stated that the limited availability of resources from the state to fund infrastructure and to deal with backlogs have intensified these challenges. This has severely restricted state-owned entity's ability to fulfill their mandates. She said that the RFI is focused...

Transport Infrastructure

Golf-Whitnell sinks 2 hole-in-1s in the second round of S.African Open

After making two holes-in one at the DP World Tour South African Open held at the Durban Country Club, Englishman Dale Whitnell will likely toast his success in the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and the 12th holes in his second round. Both par threes. His rollercoaster round of 63 leaves him with nine under par for the tournament. He is five shots behind the clubhouse leader Shaun Norris (64), from South Africa. The play was suspended on Friday evening due to poor lighting. Several players were...

Transport Infrastructure

Whitnell makes two hole-in ones in the second round of SA Open

After making two holes-in one at the DP World Tour South African Open, held at the Durban Country Club in Durban on Friday, Englishman Dale Whitnell could toast his good luck with a few expensive round at the clubhouse. Whitnell, who had never achieved a hole in one in tournament play before, aced both the second and 12th holes in his second round. Both par threes. His rollercoaster 63 puts him at nine under par for the tournament. He is five shots behind South African Shaun Norris (64), the leader in the clubhouse. Whitnell became the second player on tour...

Transport Infrastructure

First round of SA Open weather-affected by a trio

After bad lighting cut short Thursday's opening day of the DP World Tour South African Open, Fredrik From, Sam Bairstow, and Darren Fichardt shared the lead with seven under par. Fichardt had yet to complete his round. The course was covered in huge puddles on Wednesday, and the start of first round was three hours delayed. This left a number of golfers with a lot of time to finish their rounds. From had two eagles on his 65. Both were par fives. Bairstow, on the other hand, managed eight birdies. His round was only marred by a missed shot on...

Transport Infrastructure

Parry leads Kenya Open with 65 shots.

John Parry of England carded a bogey free 65 on Friday, giving him a tournament score 14 under par and a one-shot lead after the second round at the DP World Tour Kenya Open held at the Muthaiga Golf Club. Parry is the only player to have not dropped a shot since the start of the tournament. His 63 on the Thursday was a superb score. Hebert from France, who had a 66 during his second round, leads the leaderboard halfway through the event. South African Jayden Schper (69), who is currently in third place, is five shots behind Parry...

Transport Infrastructure

Companies sell their services in Russia

Lots of Western business have actually sold their Russian assets or handed them over to local supervisors to adhere to sanctions over the war in Ukraine and respond to threats from the Kremlin that it may seize foreignowned possessions. Below are some business that have offered their organizations in Russia, divided by sector: AUTOS Continental sold its Russian tyre plant to holding company S8 Capital in May 2023. Renault offered its bulk stake in Avtovaz to the Russian state in 2022, reportedly for just one rouble however with a six-year choice to buy it back. Volkswagen finished the sale of...

Transport Infrastructure

Companies sell their services in Russia

DP World and Anglo American seek to expand operations in Peru, states government

Dubai's DP World and worldwide miner Anglo American are wanting to expand their operations in Peru, the federal government stated on Wednesday, including that DP World had suggested it could invest $1 billion. Port and logistics company DP World would use the funds to expand its port infrastructure in the Andean nation, the governmental workplace stated in a message on X, including that would increase agro-exports and employment, along with reinforce Peru's. position as the region's logistics hub. The financial investment announcement was made by the CEO of DP World,. Sultan Ahmed bin Sulayem, after a conference with Peruvian. President...

After the post-election unrest, Maputo's port volume has declined.

The port operator reported that Maputo's biggest port saw a 1% drop in volume in 2024, mainly because of post-election protests which forced the closure of borders and roadblockages. After a disputed vote on Oct. 9, Daniel Chapo's Frelimo Party, which has been ruling Mozambique in its current form since 1975, won the election by a narrow margin, protests by the opposition erupted across this southeast African nation. More than 300 people have died in the unrest after a crackdown carried out by security forces. Maputo Port Development Company's (MPDC) statement said that the port volume for 2024 fell to...

S.Africa coal miner Thungela names De Beers' Madondo as new CEO

Thungela Resources has selected De Beers executive Moses Madondo to replace July Ndlovu, who is retiring from Aug. 1, the South African thermal coal exporter stated on Tuesday. Thungela said in a statement Madondo is taking over from Ndlovu, who will reach the age of 60 years in July and has to step down according to the company's retirement policy. Ndlovu, an engineer, has been at the helm of Thungela, which mines coal burned in power stations, given that it was spun off from Anglo American in 2021. Prior to that he had headed the Anglo coal department. He steps...

South Africa's Transnet half-year loss broadens to $117 mln

South African stateowned logistics group Transnet on Tuesday reported a broader loss of 2.2 billion rand ($ 117.48 million) in the 6 months to Sept. 30 on higher expenses and functional difficulties. Transnet made a loss of 1.6 billion rand during the same period last year. The debt-saddled business has actually struggled to provide appropriate freight rail and port services for years due to devices lacks and maintenance stockpiles. Chronic underperformance has actually suppressed exports of key products such as coal and iron ore, crimping economic growth in Africa's many industrialised nation. The logistics firm said its income rose 6%...

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...

Passenger Transportation Services

Mali's Barrick hardball talks are being driven by two former Barrick employees

According to sources familiar with the discussions, two former Barrick Gold executives who have inside information about the Canadian miner's operations in West Africa help drive Mali's demand for a payment from the Canadian company of approximately $200 million. Mamou and Samba Toure were both employed by Randgold in Mali, now part of Barrick, which is a mining firm. Mali's military government, which seized in December three metric tonnes of gold worth approximately $245 million from Barrick, has given miners until Saturday midnight to respond to their demands. According to a source with knowledge of the situation, it wants Barrick...