Journal of African Business Issue 5

THE JOURNAL OF
AFRICAN
BUSINESS
AFRICAN MINING IN THE ESG ERA
Investing in the Energy Transition, ESG and
the Economies
A NEW ENERGY BANK FOR
AFRICAN OIL AND GAS
WHAT DOES
THE AFCFTA
MEAN FOR IP?
COUNTRY PROFILES:
ANGOLA & MAURITIUS
MITIGATING THE GLOBAL
LOGISTICS CRUNCH
Diversification is the way to go
for African business
THE WINDS OF ENERGY CHANGE
ARE BLOWING IN AFRICA
JAN / FEB / MAR 2023
THE CASE FOR CAPTIVE POWER
Aggreko’s MAX SCHIFF lays out the argument for captive power
as an energy solution in many and varied African contexts

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FOREWORD
Journal of
African Business
A unique guide to business and investment in Africa.
Welcome to The Journal of African Business. The first issue of the journal was
published in 2020 as an annual publication. Since then, the quarterly format has
been adopted, giving our team more opportunities to bring readers up-to-date
information and opinions and offer our clients increased exposure at specific times
of the year, either related to events and conferences or in conjunction with feature
articles on specific topics.
Every edition carries editorial copy covering the following general topics, with
a wide range of subjects within each broader economic sector: energy; mining and
exploration; trade; finance; technology and tourism.
In addition to this, special features on topical matters will be published
THE JOURNAL OF
AFRICAN
BUSINESS
JAN / FEB / MAR 2023
AFRICAN MINING IN THE ESG ERA
Investing in the Energy Transition, ESG and
the Economies
A NEW ENERGY BANK FOR
AFRICAN OIL AND GAS
WHAT DOES
THE AFCFTA
MEAN FOR IP?
COUNTRY PROFILES:
ANGOLA & MAURITIUS
MITIGATING THE GLOBAL
LOGISTICS CRUNCH
Diversification is the way to go
for African business
THE WINDS OF ENERGY CHANGE
ARE BLOWING IN AFRICA
THE CASE FOR CAPTIVE POWER
Aggreko’s MAX SCHIFF lays out the argument for captive power
as an energy solution in many and varied African contexts
periodically, along with country profiles.
The positive reception accorded the first
issues of The Journal of African Business
was encouraging and we are optimistic
that this publication and future issues will
continue to meet the need for timely and
relevant information in an exciting time for
African business.
In this edition, the in-depth interview
with Aggreko Head of Sales, Southern
East Africa, Max Schiff, makes clear how
important captive power is for the future
viability of a wide variety of projects in
Africa. As Schiff points out, the extractives
industry has long been a leader in the application of captive power, given the remote
location of many mining operations, but the flexibility and ESG advantages that
captive power using renewables offers is making it an ever-more attractive option
for many different sectors.
The two profiled countries in this issue are Angola and Mauritius.
FTI Consulting has done a deep-dive into the challenges facing the African
mining sector in the era of enhanced environmental, social and governance
reporting (ESG), the report on which is published here.
Another article notes that Afreximbank and the African Petroleum Producers
Organization (APPO) have signed a memorandum of understanding (MoU) for the
creation of a multi-billion-dollar energy bank while renewable energy is the topic
of an International Finance Corporation (IFC) study on Africa’s immense onshore
wind potential is immense.
Two partners at Spoor & Fisher interrogate the Intellectual Property
considerations of the African Continental Free Trade Area, while Philip
Myburgh, Head of Trade and Africa-China, Business and Commercial Clients
for Standard Bank, comments on multiple factors which have caused turmoil in
trade and logistics.
Finally, two articles examine different aspects of tourism in Africa today. A brand
initiative to find the “Best Places in Africa” has been announced and Zimbabwe has
a smart new hotel on the banks of the Zambezi River.
Global Africa Network is a proudly African company which has been producing
region-specific business and investment guides since 2004, including South African
Business and Nigerian Business, in addition to its online investment promotion
platform www.globalafricanetwork.com
JOHN YOUNG
Editor, Journal of African Business
Email: john.young@gan.co.za
Editor: John Young
Publishing director: Chris Whales
Managing director: Clive During
Online editor: Christoff Scholtz
Design: Simon Lewis. Production: Yonella Ncaba
Ad sales: Venesia Fowler, Tennyson Naidoo,
Sam Oliver, Tahlia Wyngaard, Gavin van
der Merwe, Graeme February, Shiko Diala,
Gabriel Venter and Vanessa Wallace
Administration & accounts: Charlene
Steynberg, Kathy Wootton
Distribution & circulation manager: Edward MacDonald
The Journal of African Business is
published by Global Africa Network Media (Pty) Ltd
Company Registration No: 2004/004982/07
Directors: Clive During, Chris Whales
Physical address: 28 Main Road, Rondebosch 7700
Postal: PO Box 292, Newlands 7701
Tel: +27 21 657 6200 | Email: info@gan.co.za
Website: www.globalafricanetwork.com
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No portion of this book may be reproduced without
written consent of the copyright owner. The opinions
expressed are not necessarily those of The Journal of
African Business magazine, nor the publisher, none of
whom accept liability of any nature arising out of, or
in connection with, the contents of this publication.
The publishers would like to express thanks to those
who support this publication by their submission of
articles and with their advertising. All rights reserved.
Printing: FA Print
Member of the Audit Bureau of Circulations

Mauritius gained independence from the United Kingdom in 1968. English is the
official language of the legislative body but Creole is the dominant language with
Bhojpuri and French accounting for about 10% between them.
Just two years before independence, Britain expelled about 2 000 residents of
the Chagos archipelago and leased islands to the US for 50 years. A military base
was built on the largest island, Diego Garcia. In 2019 the UN International Court
of Justice gave a non-binding legal opinion that the islands had not been legally
separated and that Britain should end its control.
Former President Sir Anerood Jugnauth became Prime Minister for the third
time in 2014 but resigned in 2017 to make way for his son Pravind Kumar Jugnauth,
the leader of the Militant Socialist Movement party. The president is head of state in
a Westminster-type system and the role is largely symbolic.
Credit: Dominik Ruhl/Pexels
Capital: Port Louis. Other towns/cities: Vacoas-Phoenix, Beau Bassin-Rose Hill, Curepipe,
Quatre Bornes. Population: 1.3-million (2022). GDP: $14-billion (2019).
Real GDP per capita: $19 500 (2020). Currency: Mauritian rupee.
Regional Economic Community: Southern African Development Community (SADC),
Common Market for Eastern and Southern Africa (COMESA), Indian Ocean Rim Association.
Landmass: 2 040km 2 (all islands), Island of Mauritius 1 864km 2 . Coastline: 177km.
Resources: Sugar cane, tea, banana, pulses, potatoes, fish.
Main economic sectors: Sugar milling, textiles, tourism, financial services.
Other sectors: Mining, chemicals, metal products, transport equipment,
machinery. New sectors for investment: Creative sector (film),
higher education, ICT, retail, medical tourism.
Key projects: Positioning as a hub for the rest of Africa
for logistics, re-export and trade. Smart city projects.
Chief exports: Clothing, sugar cane, processed fish,
molasses, cut flowers. Top export destinations: France,
US, UK, South Africa, Madagascar, Italy, Spain.
Top import sources: India, China, France, South Africa. Main imports:
Chemicals, equipment, foodstuffs, manufactured goods, petroleum products.
Infrastructure: Export Processing Zone; Sir Seewoosagur Ramgoolam
International Airport at Plaisance about 50km from Port Louis, an airstrip at
Plaine Corail on Rodrigues; 2 150km of roads, 98% paved; Port Louis harbour
has a container terminal and terminals for sugar, oil, wheat and cement.
ICT: Mobile subscriptions per 100 inhabitants: 150 (2020). Internet percentage of
population: 65% (2020). ICT Development Index 2017 (ITU) ranking: 1 in Africa,
72 in world. Climate: Maritime subtropical modified by south-east trade winds. Cyclones
can occur. Warm, dry winter (May to November); hot, wet, humid summer. A fertile
central plateau is surrounded by mountains and the island is ringed by coral reefs.
Religion: Hindu, Christian about 30% (majority Roman Catholic), Muslim, other.
Global investors are shying away from
hydrocarbons, leaving the continent
without the investment it needs if
it is to capitalise on its resources.
Credit: Pixabay
Sara Powell, Managing Director,
Sustainability and ESG at FTI
Consulting United Kingdom
Lake Turkana Wind Farm is not
only one of Africa’s biggest wind
projects, it also, at $650-million,
represents the single-largest
private investment in Kenya.
Kenya Power buys power from
the facility, which generates
310MW of energy. Credit: LTWP
Please define “captive power”.
There are numerous definitions and types of captive power. Most
commonly it is defined as “behind the meter” energy, power that
is generated at the user site, rather than imported from a wider
grid transmission system via an energy meter.
The scale, sources and applications of captive power differ
significantly. While it could be at a household level, for this
discussion we are talking about industrial and commercial
applications. This may include manufacturing plants with onsite
generation, such as sugar factories using thermal power from
burning bagasse to generate steam to drive a turbine, industrial
Remote mining destinations such as this one in the Democratic Republic of the
Congo must use captive power to support their operations. Credit: Aggreko
Pan-African multilateral trade finance institution, the African
Export-Import Bank (Afreximbank), has signed a Memorandum
of Understanding (MoU) with the African Petroleum Producers
Organization (APPO) for the creation of a multi-billion-dollar
energy bank. Aimed at scaling up private sector investment
in African oil and gas projects, the bank will provide critical
financing for new and existing oil and gas projects, as well as
energy developments across the entire value chain. Following
international oil company divestment and the shift in global
investment trends, the bank comes at a particularly critical time
for Africa’s energy sector.
The MoU was signed by Rene Awambeng, Director and Global
Head, Client Relations, Afreximbank, and Dr Omar Farouk,
Secretary General of APPO, in the presence of HE João Lourenço,
President of the Republic of Angola, APPO ministers and African
Energy Chamber (AEC) Executive Chairman NJ Ayuk.
While the developed world calls for the end of fossil fuels due
to climate change, Africa continues to face the crisis of energy
The demand-side of global energy places immense pressure
on the mining sector, which is perceived to make a significant
contribution to CO2 emissions. Now, mining companies with
extensive social and environmental footprints are coming under
greater scrutiny by investors, civil society and governments. In
Africa, the ESG challenge is the legacy of environmental damage
Outside of a limited number of countries, wind turbines have
remained a rare sight in Africa. But this is not for lack of potential.
In 2020, a study by the International Finance Corporation
(IFC) found that continental Africa possesses an onshore wind
potential of almost 180 000 TWh/annum, enough to satisfy
the entire continent’s electricity needs 250 times over. As the
continent continues to seek ways to expand energy access, the
adoption of wind as a source of energy is expected to accelerate.
To date, only Morocco, Egypt and South Africa have been
truly successful in harnessing their wind potential and attracting
private capital to set up wind parks. Through its widelyacclaimed
Renewable Energy Independent Power Producer
Procurement Programme (REIPPPP), South Africa has already
commissioned 34 wind farms with an installed capacity of over
3.3GW, according to the country’s IPP Office.
And this is far from over. In 2021, the South African Ministry
of Mineral Resources and Energy announced 25 successful
parks or tea farms with rooftop or ground-mounted solar PV
arrays, manufacturing plants with onsite gas power generation
using a turbine or reciprocating engine running on piped gas,
biogas or even associated petroleum gas (flare gas); or even onsite
wind turbines powering mine sites or other commercial or
industrial facilities. The list goes on.
Is this something that is growing in the world?
As with the overall demand for power, there is a growing demand
for captive power globally. Depending on the circumstances,
demand may be driven by environmental, social and governance
poverty. Over 600-million people lack access to electricity and
900-million lack access to clean cooking solutions. This situation
has led stakeholders to call for the rapid expansion of the oil and
gas sector, recognising the role these resources play in making
energy poverty history. Despite these calls, global investors are
shying away from hydrocarbons, leaving the continent without
the investment it needs if it is to capitalise on its resources.
According to the AEC’s Q1 2022 report, “The State of African
Energy”, from the peak in 2014 at $60-billion, capital expenditure
in Africa declined to $22.5-billion in 2020. Despite projected
increases to $30-billion, significant levels of investment are still
required and for this to happen, the role of African financial
institutions is vital.
Catalyst for Africa-directed investment
Organisations such as Afreximbank have already made notable
progress to drive oil and gas project developments. At the end
of 2020, Afreximbank’s total assets and guarantees stood at
and irresponsible mining practices, therefore there is a need to
create guidelines for the continent.
In “Evolution in African Mining: Investing in the Energy
Transition, ESG and the Economies”, FTI Consulting addresses
the questions and possible responses on growth, costs, risks,
capabilities and licences to operate that confront the mining
sector in Africa and globally today.
Based on research gathered through the FTI Consulting
Resilience Barometer 2022, the mining sector seems to be under
the most pressure from the current focus on ESG concerns. In fact,
nearly half of the companies polled reported that they are under
increased pressure, and one-third said that they are falling short
on ESG reporting. As a result, while recognising international
decarbonisation goals, mining and metals companies understand
that their own ESG goals are now under ever-closer scrutiny.
“The ESG shift does not mean discarding possible down-side
risks. Instead, it is seen as having a business strategy that seeks
new opportunities from the transition to sustainability that is
underway, understanding that there will be disruptions and
unknown risks to manage within this,” says Petrus Marais, Head
of FTI Consulting South Africa practice.
These factors will impact the sector across four major areas
of concern.
STAKEHOLDER ENGAGEMENT
While one in five companies in the extractives sector stated
they were under pressure to strengthen external stakeholder
relationships, one in two chief risk officers felt “extreme
pressure” to improve external stakeholder relationships. Greater
bidders under its REIPPPP Bid Window 5, including 12 wind
farms with a total capacity of 1 600MW.
Bid Window 6, which was due to allocate a maximum
capacity of 1 600MW of wind, with projects ranging from
50MW to 240MW, was doubled in capacity by President
Cyril Ramaphosa very soon after its initial announcement, in
response to the problems the country has been having with
rolling blackouts.
Up north, Morocco and Egypt continue to drive wind-energy
developments. The latter has an installed wind-generation
capacity of almost 1.5GW across 13 wind farms, according to
its Ministry of Energy. It now expects to commission another
2GW by 2025 with an additional 14 wind farms.
On the other side, Egypt has seen fewer but bigger projects.
Its four wind farms have a current installed capacity of 1.6GW.
The most recent one, West Bakr, was commissioned by Lekela
Power in November 2021.
$21.5-billion, with shareholder funds amounting
to $3.4-billion. Other institutions, including
the African Development Bank with an active
portfolio of projects upwards of $12-billion, also
represent critical providers across the African
energy landscape. However, more needs to be done,
and if large-scale discoveries such as those made
in Namibia and Ivory Coast are to be sufficiently
developed, more capital needs to be made available.
Stepping into this picture, the Afreximbank-
APPO MoU aims to alleviate these challenges,
ensuring the provision of capital for Africa’s
upcoming oil and gas projects. Based in Africa,
the bank will operate as an independent entity,
regulated and led by experienced professionals who
know and understand Africa’s energy needs. The
proposed bank will not be a substitute for private
investment, however, but rather will serve as a
catalyst for Africa-directed investment.
NJ Ayuk, Executive Chairman of the AEC, says:
“The African Energy Chamber has been pushing for
the creation of an African Energy Bank, one that is
African-based and Africa-focused, and I am proud
to announce that the Afreximbank and APPO have
taken the first steps towards its creation. The bank
will be critical for Africa’s energy sector, serving as
a catalyst – not a substitute – for private investment
in African energy. This is a practical strategy for
prosperity and a pragmatic vision that must be
embraced by all who want to make energy poverty
history and fight climate change.
“Why should our pension funds go to European
banks who say they will not finance Africans and
call us risky? We need to use that money to finance
oil and gas,” states Ayuk.
The proposed African Energy Bank will operate
in the same way as the APPO-created Africa
Energy Investment Corporation – a developmental
financial institution created to channel resources
towards the development of Africa’s energy sector.
In addition to ensuring capital is made available for
African oil and gas, the bank will serve as a vessel for
mobilising African-sourced finance. Rather than
utilising international banks for pension funds, the
bank will serve as an investment corporation that
will channel these funds into African projects. This
will ensure high returns of investment as well as the
development of Africa’s energy sector.
The benefits will be two-fold: the funds will help
drive oil and gas development while the oil and gas
projects will drive socio-economic growth through
the increase in access to energy. Accordingly, the
role this bank will play is pivotal.
collaboration with external stakeholders, including customers
and the supply chain, will be essential in embedding the demands
of a circular economy in the mining lifecycle to reduce its carbon
footprint and ensure improved materials footprints.
ESG
The mining sector finds itself at a complex juncture requiring
transition management strategies that acknowledge the
increased demand for raw materials driven by the mineralintensive
clean energy technology and a more aggressive stance
on curbing their environmental impact. The global strategy
along the decarbonisation and ESG compliance route is complex
and multifaceted and it will alter the mining sector, while also
providing opportunities and challenges.
CIRCULAR ECONOMY
The mining sector is aware of the complex environmental risks –
primarily from mining waste – that accompany its operations, and
the option of displacing those from one environment to another
is no longer tenable. Implementing circular economy thinking,
such as focusing “on getting more from less” and adhering to
waste-reducing principles – reduce, reuse, recycle – will improve
DEVELOPMENT AND MULTILATERAL FINANCE
Across the rest of the continent, multilateral and development
finance institutions (DFIs) have played a key role in supporting
the emergence of the wind sector.
West Africa has increasingly harnessed its wind potential
with facilities commissioned in Cabo Verde (Cabeólica, 2011),
Senegal (Taiba Ndiaye, 2019) and Mauritania (Boulenouar,
2020). The projects received significant backing from the likes
of the Africa Finance Corporation (AFC), the US International
Development Finance Corporation (DFC) and the Arab Fund for
Economic and Social Development (AFESD).
They have successfully laid the ground for more projects to
follow. In December 2021, the DFC notably provided funding for
a feasibility study to expand Senegal’s 158.7MW Taiba Ndiaye
Wind Farm by another 100MW.
East Africa is also joining the game, led by Kenya. After
the expansion of the Ngong facility in 2014, the country
commissioned the 310MW Lake Turkana Wind Farm in 2017
and the 100MW Kipeto Wind Farm in 2021. The African
Development Bank (AfDB) was the mandated lead arranger on
Lake Turkana’s debt package and managed to attract several
leading European DFIs to finance the project. The Kipeto project
was mostly funded by the DFC.
After its success in Cabo Verde, the AFC has moved east where
it is the lead developer on Djibouti’s Red Sea Wind Power Project
in Ghoubet. The 60MW facility is nearing completion and is the
country’s very first independent power producer (IPP).
AN IDEAL CHOICE TO CUT CARBON EMISSIONS
More recently, natural resources and extractive industries
have provided an additional driver of wind-energy adoption in
Africa. Publicly-listed oil and gas and mining companies seeking
to decarbonise their portfolio and cut carbon emissions across
their operations are looking at wind projects.
In March 2022, Savannah Energy executed an agreement with
the Ministry of Petroleum, Energy and Renewable Energies of
(ESG) targets, by the high costs of implementing peak-utility
tariffs, by intermittency or fluctuations on national grids, or
even by the total absence of a grid in many areas of the world.
Where captive power can be cleaner, cheaper and/or more
reliable than grid supply, then there is motivation to assess the
return on investment (ROI) by supplementing or substituting
the grid with a captive-power source.
The extractives industry, such as the mining of minerals or
oil and gas, often operates in unconnected regions. Yet the
industry requires stable power to avoid loss of production of
high-value materials which cover the related high operating
and capital costs of such industries. In such cases, captive power
is the only option.
However, the question remains, how to secure reliable power
and avoid intermittency while achieving maximum renewable
penetration and remaining cost-effective? This is a question
driving significant investment in the development of control
systems and battery storage required to improve the tradeoff
between carbon reduction via renewable penetration and
CREDIT: Emmaus Studio on Unsplash
the sector’s sustainability and long-term profits. Such practices
would go a long way towards satisfying stakeholder concerns
around ESG compliance.
SOCIETAL IMPACT OF MINING
There is far more at stake in the mining sector than increasing
exploration costs. The cost of ignoring the S in ESG can be massive.
The complex ESG environment means businesses are under the
scrutiny of social activists, shareholders, regulators, consumers
and the media. Crucial to this success will be the management and
monitoring of carbon and wider materials footprint by accurately
quantifying, measuring and communicating the data collection.
Research shows that 90% of the mining sector sees the need to
align business strategy to social purposes. In addition, 90% also saw
the transition to a more sustainable business model opening the
doors to new opportunities. As Sara Powell, Managing Director,
Sustainability and ESG at FTI Consulting United Kingdom, says,
“Organisations – across every industry – that ignore the acceleration
towards net-zero will not only be highly vulnerable to climate risks
but will also be ill-prepared to capture far greater stakeholder value
by acting on transition-led opportunities.”
The full report can be seen at: www.fticonsulting.com
the Republic of Niger to develop the country’s first wind farm.
Savannah Energy, operator of some of the most prolific oil blocks
in Niger, is planning to construct and operate the 250MW
facility in the Tahoua Region. The wind farm will be structured
as an IPP and is currently in feasibility study. It is expected to
be sanctioned in 2023 for a potential commissioning in 2025.
In Zambia, First Quantum Minerals (FQM) entered into a
new partnership with Chariot and Total Eren in 2022 to develop
430MW of solar and wind power for its mining operations. The
company operates Africa’s biggest copper mine by production
in Zambia and it seeks to reduce its carbon footprint by 30%
by 2025.
In South Africa, Anglo American is embarking on an even
bigger project with EDF Renewables. Both companies signed
a Memorandum of Understanding in March 2022 to work
reliability. This is an endeavour that Aggreko has invested in
significantly in recent years, since it acquired the battery-storage
provider Younicos in 2017.
In much of the developing world, grid stability and
electrification are lagging behind the developed world.
Here, value drivers for captive power are more pronounced.
Higher costs and less reliable power encourage captive power
installations in industries that are less power intensive and that
face lower value production losses due to power outages whether
they are connected to a national grid or not. In the developed
world, policies such as net metering provide financial motivation
for commercial and domestic entities to install captive power
solutions as excess power is sold back to the grid via smart meters,
thereby allowing revenue from curtailed power and improving
the ROI of the initial investment.
In other geographies, there are regulatory caps and barriers
placed on captive power installations. This is especially true
for grid-connected industrial entities, as state-owned utilities
attempt to prevent loss of market to captive solutions. South
Africa experienced the opposite of this in 2021 when President
Cyril Ramaphosa announced that the regulatory cap on selfgeneration
in South Africa would increase from 10MW to
100MW, thereby paving the way for increased competition
from captive power installations. This was done in response
to an ageing centralised generation infrastructure dependent
on coal power assets that are not to be overhauled, for obvious
environmental reasons.
And in other parts of Africa?
Africa presents an interesting scenario. As mentioned, cost,
instability and access metrics trail much of the world and
act to encourage investment in captive power due to a higher
comparative ROI. This is not only driven by large off-grid
extractive off-takers in the mining and oil and gas industry, but
a broader range of factors.
The extractives industry has been a leader in the captive power
space for decades due to its often-remote locations. Capital
investment in transmission and distribution infrastructure to
connect to a high-cost and unreliable grid supply often does not
make sense from a returns perspective. This is especially true
About FTI Consulting
FTI Consulting, Inc. is a global business
advisory firm dedicated to helping
organisations manage change, mitigate
risk and resolve disputes: financial, legal,
operational, political and regulatory,
reputational and transactional. With
more than 6 900 employees located in 30
countries, FTI Consulting professionals
work closely with clients to anticipate,
illuminate and overcome complex
business challenges and make the
most of opportunities. The company
generated $2.78-billion in revenues
during fiscal year 2021. In certain
jurisdictions, FTI Consulting’s services
are provided through distinct legal
entities that are separately capitalised
and independently managed.
For more information, visit www.
fticonsulting.com and connect on Twitter
(@FTIConsulting), Facebook and LinkedIn.
Reporting in the mining sector
is becoming ever-more complex.
Credit: Thungela Resources
Akhfenir Wind Farm is owned by
Nareva, a subsidiary of Morocco’s
National Investment Company.
Credit: Eurogrues Maroc.
West Bakr Wind Farm, Egypt.
Credit: Lekela
Max Schiff, Head of Sales,
Southern East Africa, Aggreko
CONTENTS
MAURITIUS
The financial services sector is vibrant and growing.
COUNTRY PROFILE
Contents
The Journal of
African Business
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FOREWORD
From the editor’s desk.
NEWS FROM THE CONTINENT
Recent investments, expansions and milestones.
THE CASE FOR CAPTIVE POWER IN AFRICA
Aggreko’s Max Schiff outlines how various captive power options can mitigate
disruptions and how the company is investing heavily in battery-storage solutions.
AFRICAN MINING IN THE ESG ERA
FTI Consulting has done a deep-dive into the challenges facing the African mining sector
in the era of enhanced environmental, social and governance reporting (ESG).
A NEW ENERGY BANK AIMS TO INCREASE PRIVATE INVESTMENT IN AFRICAN OIL AND GAS PROJECTS
Afreximbank and the African Petroleum Producers Organization (APPO) have signed a
memorandum of understanding (MoU) for the creation of a multi-billion-dollar energy bank.
THE WINDS OF ENERGY CHANGE ARE BLOWING IN AFRICA
An International Finance Corporation (IFC) study has found that Africa’s onshore wind potential
is immense. Green Energy Africa Summit records how that potential is being realised.
HOW SOUTH AFRICA CAN POWER GREEN INVESTMENTS AND END LOADSHEDDING
With South Africa’s energy crisis showing no sign of slowing down, Wesgro CEO
Wrenelle Stander comments on the urgent need to accelerate green investments.
WHAT ARE THE INTELLECTUAL PROPERTY CONSIDERATIONS OF THE AFCFTA?
Two experts examine the intellectual property implications of the AfCFTA agreement.
AFRICAN BUSINESSES SHOULD DIVERSIFY SUPPLY CHAINS TO MITIGATE THE GLOBAL LOGISTICS CRUNCH
Philip Myburgh comments on multiple factors which have caused turmoil in trade and logistics.
“BEST PLACES IN AFRICA” WILL SHINE A SPOTLIGHT ON AFRICAN BRANDS
A new initiative to promote African brands in tourism, investment and citizen mobilisation.
VICTORIA FALLS HAS A NEW LUXURY HOTEL
The Palm River Hotel has opened on the banks of the Zambezi River.
AFRICAN EVENTS
Upcoming business and trade events in South Africa.
COUNTRY PROFILE: ANGOLA
A major oil producer is trying to diversify its economy
COUNTRY PROFILE: MAURITIUS
The financial services sector is vibrant and growing
M
Photo: Pixabay
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Photo: Pixabay
A NEW ENERGY BANK AIMS TO INCREASE PRIVATE
INVESTMENT IN AFRICAN OIL AND GAS PROJECTS
Afreximbank and the African Petroleum Producers Organization (APPO) have signed a
P
memorandum of understanding (MoU) for the creation of a multi-billion-dollar energy bank.
Tackling energy poverty in Africa will be at the heart of the bank’s mission.
AFRICAN MINING IN THE ESG ERA
FTI Consulting has done a deep-dive into the challenges facing the African mining sector in the era of enhanced
environmental, social and governance reporting (ESG). What follows is a summary of the main points of the
14-page study, “Evolution in African Mining. Investing in the Energy transition, ESG, and the Economies”.
THE WINDS OF ENERGY CHANGE
ARE BLOWING IN AFRICA
T
As the continent
18
Diversification of the continent’s wind energy sector is expected in response to the rollout of new projects in new
regions. An International Finance Corporation (IFC) study has found that Africa’s onshore wind potential is immense. The
organisers of the annual Green Energy Africa Summit compiled this article to record how that potential is being realised.
continues to seek
ways to expand energy
access, the adoption
of wind as a source
of energy is expected
to accelerate.
T
THE CASE FOR CAPTIVE POWER IN AFRICA
Industry and mining require a stable supply of power to operate optimally, a requirement which
cannot always be guaranteed in Africa. Aggreko’s Max Schiff outlines how various captive power
options can mitigate disruptions and how the company is investing heavily in battery-storage
solutions to assist in creating hybrid solutions which combine grid and renewable sources.
24 12
18 12
19 13
8
19
ENERGY FINANCE
The proposed African Energy Bank will operate in the same way
as the APPO-created Africa Energy Investment Corporation
– a developmental financial institution created to channel
resources towards the development of Africa’s energy sector.
25 13
9
ESG IN POWER
MINING
WIND POWER
Publicly-listed oil and gas
and mining companies
seeking to decarbonise
their portfolio and cut
carbon emissions across
their operations are
looking at wind projects
ENERGY
How to secure reliable
power and avoid
intermittency while
achieving maximum
renewable penetration
and remaining
cost-effective?

NEWS FROM ALL AROUND AFRICA
Recent investments, expansions and milestones.
SHELL ACQUIRES WEST AFRICAN HYBRID-SOLAR-POWER PROVIDER
Daystar Power, a West African provider of hybrid-solar-power solutions to commercial solutions for commercial and industrial businesses. Daystar Power’s co-founders and
and industrial businesses, will become a wholly-owned subsidiary of Shell following its management team will continue to grow its operations in key West African markets, while
acquisition by Shell and the approval of regulatory authorities. The acquisition will allow expanding the company’s presence to other countries across the continent.
Daystar to grow its operations in the region, while expanding across the African continent. Daystar Power’s clients pay a flat monthly fee or a variable tariff (per kilowatt hour)
The existing brand will operate within Shell’s Renewables & Energy Solutions business. for premium power services, which include a power audit and assessment of energy
Sub-Saharan Africa has abundant potential as a solar market, which is expected to grow needs, a bespoke proposal, installation and full operation and maintenance. Clients do
due to the chronic energy gap. Daystar Power, which numbers among its projects the fitting not incur any capital expenditure and do not pay up-front costs. By outsourcing the
of a solar system to the Brazilian Embassy in Lagos (pictured), aims to increase its installed management of their power systems, Daystar Power clients can focus more on running
solar capacity to 400MW by 2025 to become one of Africa’s leading providers of solar power their core businesses.
HEAD START FOR AFRICAN AIRLINES AFTER PANDEMIC
With no travel allowed during the worst months of the Covid-19 pandemic, some airlines
switched to ferrying vital cargo. But most fleets were grounded. Rolls-Royce took the
opportunity to complete an extensive maintenance programme on their AE3007 engines
in the region, upgrading to the latest standards without charge. This allowed operators
Credit: Airlink
to comply with an Airworthiness Directive (necessary for all grounded aircraft) before
operations restarted, giving them an all-important head start.
Rolls-Royce has also signed an important extension of its TotalCare maintenanceservice
agreement with South African airline, Airlink. The airline’s 28-aircraft
Embraer ERJ fleet is powered by Rolls-Royce engines and the relationship has
been going since 2001. Airlink’s on-time performance is consistently above 97%.
TotalCare is predicated on maintenance schedules running at a fixed cost per engine
flying hour. The service is underpinned by predictive maintenance which relies on
extensive gathering and analysis of performance data, which helps engineers to
diagnose potential future faults and act on them to avoid downtime.
Rolls-Royce has stated that it intends to prove that all its aero engines will be able
to run on 100% Sustainable Aviation Fuel by the end of 2023. Any sustainable fuel that
meets the D1655 jet fuel standard and requirements is now approved for use in AE3007
engines. Currently, seven different blend varieties can be used, some being certified
to blend up to 50% with conventional jet fuel, dramatically reducing carbon footprints.
4

NEWS
LOW-EARTH ORBIT SATELLITES HOLD POTENTIAL FOR RURAL CONNECTIVITY
World Mobile is expanding its network across
the African continent following a series of
successful pilot tests using low-earth orbit
(LEO) satellites in the US and UK. Positive
results have been found in ongoing tests of
Starlink, one of the many LEO satellites.
The company, which was founded in 2018,
aims to provide affordable connectivity to
rural and remote areas worldwide.
The African continent currently sees less
than a quarter the population having access
to reliable Internet. Using innovative satellite
and relay technology with stratospheric balloons, the first efforts of World Mobile are
looking to provide connectivity in hard-to-reach areas within Tanzania, Kenya and Nigeria.
World Mobile’s pilot tested the use of Starlink’s satellite network as a backhaul option for
providing internet to World Mobile’s AirNodes (the network’s Internet access points). The
connection delivered impressive broadband speeds, latency and stable connectivity with
download speeds of up to 400Mbps.
World Mobile’s dynamic network adapts its connectivity infrastructure to the needs of
each region, allowing it to deliver efficient and affordable connectivity where other mobile
operators cannot reach.
The pilot tests conducted by World Mobile and its partners demonstrated that remote
connectivity with the LEO satellite, which serves as a constellation network connecting World
Mobile’s AirNodes, can provide robust Wi-Fi services. In Zanzibar, World Mobile is targeting
areas where there is minimal or no connectivity. It is underway in deploying its hybridmesh
network to deliver affordable mobile connectivity in the region through a network
of AirNodes and aerostats with a coverage radius of up to 70km. In addition to rolling out in
Tanzania and Kenya, World Mobile is in advanced talks about expanding its network to other
African countries, such as Mozambique and Nigeria. The company’s unique offering provides
low-cost connectivity in areas that traditional operators cannot reach, while also enabling
entrepreneurs to own or operate a portion of the network and benefit from its adoption.
Orange Botswana became the first Orange affiliate in Africa to
launch 5G commercially and the country’s first Orange Digital
Center made it the company’s 12th such training centre in
Africa and the Middle East
The Digital Centers are designed to train young people in
digital technology and enhance their employability. Previous
countries to host a Digital Center are Tunisia, Senegal,
Ethiopia, Mali, Ivory Coast, Cameroon, Egypt, Jordan,
Madagascar, Morocco and Liberia.
Spread over 390 square metres, it brings together several
strategic programmes of the Orange group, namely, a coding
school, a solidarity FabLab (one of the Orange Foundation’s
digital manufacturing workshops) and an Orange Fab start-up
accelerator, supported by Orange Ventures Middle East and
Africa, the investment fund of Orange Group.
All the programmes are provided free-of charge and are
ORANGE BOTSWANA BLOSSOMED IN 2022 WITH TWO BIG LAUNCHES
open to everyone. They range from digital training for young
people, 90% of which are practical, guidance for project
bearers, start-up acceleration and investment in these.
Working as a network, the Orange Digital Centers allow
experiences and expertise to be shared between countries
and offer a simple and inclusive approach to improve
enabled in the country by the 5G technology. The 5G launch
is aligned with the government’s ambition to leverage Fourth
Industrial Revolution (4IR) innovation towards transforming
Botswana into a knowledge-based economy.
5G, with its ultra-high speed and low latency, will support
new disruptive services such as e-health, connected vehicles,
young people’s employability, encourage innovative connected cities, real-time gaming, smart homes and learning
entrepreneurship and promote the local digital ecosystem. through VR and augmented reality. It offers a new world of
In addition, Orange Botswana, in partnership with
possibilities to companies, innovators and society at large.
Orange Botswana has partnered with MRI Botswana to
create a “Connected Ambulance” project that will allow
doctors to guide paramedics through life-saving procedures
on their way to hospitals. This telemedicine intervention will
change lives and would not have been possible without 5G.
After this first commercial launch of its 5G services
in Botswana, Orange Middle East and Africa intends to
maintain its efforts in getting the latest and most advanced
technologies in all its MEA countries, adding value to local
economies and bridging the digital gap.
Orange is present in a total of 18 countries in Africa
universities, will train students for free and roll out Orange
Digital Center Clubs, extensions of the Orange Digital Center
and the Middle East and has 142-million customers as of
30 September 2022.
within some universities in the regions. This will complement
the education system to give as many people as possible
access to new technologies and support them in using these
technologies to their full extent.
The 5G network became available in greater Gaborone and
Francistown, covering 30% of the population in November
2022. Other cities will follow in early 2023.
New healthcare, education and security services will be
5

THE CASE FOR CAPTIVE POWER IN AFRICA
Industry and mining require a stable supply of power to operate optimally, a requirement which
cannot always be guaranteed in Africa. Aggreko’s Max Schiff outlines how various captive power
options can mitigate disruptions and how the company is investing heavily in battery-storage
solutions to assist in creating hybrid solutions which combine grid and renewable sources.
Please define “captive power”.
There are numerous definitions and types of captive power. Most
commonly, it is defined as “behind the meter” energy or power
that is generated at the user site, rather than imported from a
wider grid transmission system via an energy meter.
The scale, sources and applications of captive power differ
significantly. While it could be at the household level, here we
are talking about industrial and commercial applications. This
may include processing plants with the onsite generation, such
as sugar factories using thermal power from burning bagasse to
generate steam to drive a turbine; industrial parks or farms with
rooftop or ground-mounted solar PV arrays; manufacturing
plants with onsite gas power generation such as turbines or
reciprocating engines running on piped gas, biogas or even
associated petroleum gas (flare gas); or onsite wind turbines
powering mine sites or other commercial/industrial facilities.
The list goes on.
Is this something that is growing in the world?
As with the overall power demand, there is a growing demand
for captive power globally. Depending on the circumstances,
demand may be driven by environmental and social governance
Remote mining destinations such as this one in the Democratic Republic of the
Congo must use captive power to support their operations. Credit: Aggreko
6

ENERGY
(ESG) targets, high-cost peak utility tariffs, intermittency or
fluctuations of grid supplies, or even a total absence of a grid in
many areas of the world.
Where captive power can be cleaner, cheaper and/or more
reliable than grid supply, then there is motivation to assess the
return on investment (ROI) of supplementing or substituting the
grid with a captive-power source.
The extractives industry, such as the mining of minerals or
oil and gas, often takes place in unconnected regions. It also
requires stable power to maintain production of high-value
materials to cover the high operating and capital costs of such
industries. In such cases, captive power is the only option.
However, today’s question is primarily how to secure reliable
power and avoid intermittency while achieving maximum
renewable penetration and remaining cost-effective? This is a
question driving significant investment in control system and
battery storage development required to improve the trade-off
between carbon reduction via renewable penetration and the
reliability of thermal power. This is an endeavour that Aggreko
has invested in significantly in the past six years, particularly
since it acquired the battery storage provider Younicos in 2017.
In much of the developing world grid stability and
electrification lag behind the developed world. Here, the value
drivers for captive power are more pronounced. Higher cost
and less reliable power increase the ROI of captive power,
even for industries that are less power intensive and produce
lower-value goods and materials. In the developed world, net
metering policies provide financial motivation for commercial
and domestic entities to install captive power solutions as
excess power is sold back to the grid via smart meters, allowing
revenue from curtailed power, hence improving the ROI of the
initial investment.
In other geographies, there are regulatory caps and barriers
placed on captive power installations, especially for gridconnected
industrial entities, as state-owned utilities attempt
to prevent loss of market to captive solutions. South Africa
experienced the opposite of this in 2021 when President
Cyril Ramaphosa announced that the regulatory cap on selfgeneration
in South Africa would increase from 10MW to
100MW, paving the way for increased competitors for the
national grid from captive power installations. This was done
in response to an ageing centralised generation infrastructure
dependent on coal power assets that are not to be overhauled,
for obvious environmental reasons.
And in other parts of Africa?
Africa presents an interesting scenario. As mentioned above,
cost, instability and access metrics trail much of the world,
thus encouraging investment in captive power due to a higher
comparative ROI. This is not only driven by large off-grid
extractive off-takers in the mining and oil and gas industry, but
a broader range of actors.
The extractives industry has been a leader in the captive power
space for decades due to its often-remote locations. Capital
investment in transmission and distribution infrastructure to
connect to a high-cost and unreliable grid supply often does not
make sense. This is especially true when critical applications
are considered, such as underground mining where power
outages not only present significant health and safety risks, but
7
How to secure reliable
power and avoid
intermittency while
achieving maximum
renewable penetration
and remaining
cost-effective?
Max Schiff, Head of Sales,
Southern East Africa, Aggreko

The extractives
industry has been
a leader in the
captive power space
for decades
Battery storage systems are a vital
component of any captive power
solution, enabling hybridisation with
grid or renewable sources. Getting
batteries up to the scale where they
can support large-scale industrial
operations is the next technological
challenge. Credit: Aggreko
the risk of production losses, especially if mine shafts are prone
to flooding. In many locations, such as Tanzania and Zambia,
where the national grids have extended successfully in recent
years, mines still require onsite generation as a backup for these
critical applications. In the case of oil and gas, where production
values are high, and producers are held accountable for
production targets by their shareholders and, often, regulators,
captive power is necessary to ensure reliability. Even highercost
diesel applications are preferable to losses resulting from
grid instability causing failure or damage to equipment used
for artificial lift. We see extensive examples of this in Egypt’s
Western Desert, where government mandates are now driving
producers to move away from diesel by using flared gas to power
site operations, resulting in significant carbon off-sets without
risking production.
Equally, across the African continent, we see an increase in
the application of captive power technologies on agricultural and
commercial sites, where solar is proliferating as evidenced by the
growth of solar power providers offering industrial-scale solar
PPAs. In many of them, PV is integrated with other local sources
of power such as hydro or wind. In such cases, off-takers can
benefit from gains in all drivers, environmental, reliability and
cost, while reducing capital investments through executing PPAs
with companies offering financed solutions. Kenya’s tea industry
is a great example of this, despite the country’s competitive grid
tariffs and high penetration of renewables in its national supply.
As South African utility Eskom continues to implement
the reliability maintenance recovery programme to achieve
operational sustainability, many electricity generating units
are taken offline for planned maintenance which leaves the
national power system constrained. The Embedded Generation
Investment Programme (EGIP) is critical for South Africa to
achieve its climate targets and reduce excess demand on Eskom.
What are the reasons for the increased interest in
captive power?
There are several advantages. In the most basic example,
captive solutions deliver power where the grid does not exist.
8
In grid-connected scenarios, captive solutions allow for
the reduction of the cost of power, both economically and
environmentally. Finally, reliability gains can have a significant
knock-on effect on production, or assist in avoiding production
losses, by overcoming intermittency and instability. Where
grid voltage and frequency stability are a challenge, the same is
true, and off-takers can also avoid damage to costly machinery.
This last point is especially true of sensitive processes such as
smelting, clinker production and high-value mineral extraction
and processing, where equipment values and operational costs
are high, and downtime is therefore very costly.
The ESG agenda is, of course, driving the captive power
industry as corporates, financiers, regulators, households and
individuals look for avenues to not only reduce their energy bills
but also their environmental footprint. Household-level solar
and battery walls that allow their stored energy to be returned to
the grid if unused are a great example of this. We see growth in
these applications in the US, albeit not at a significant scale yet.
Finally, in areas facing challenges of energy access, capital
investment in large-scale transmission systems to connect
remote areas presents a hurdle that more local captive power
solutions can overcome. Mini-grids and captive solutions avoid
large-scale transmission investment and the associated losses
while ensuring that locally available resources, such as solar,
wind, tidal, biogas, etc, can be used to meet local demand.
Is the regulatory (or legislative) environment ready for
captive power in Africa?
Regulation in Africa varies from one jurisdiction to another.
In Uganda, distributed energy is regulated as part of a broader
isolated-grid system approach administered by the government.
Nigeria’s focused captive power regulation offers clarity to
consumers, operators and developers. In Kenya captive power
systems are regulated through a number of separate regulations,
arguably making a more complex environment for these actors.
South Africa has begun an intense programme of creating
Special Economic Zones: is this something you are seeing in
other African countries, and why is captive power
so particularly suitable for such areas?
According to the United Nations Conference on
Trade and Development (UNCTAD) 2021 report,
there are over 200 Special Economic Zones (SEZs) in
Africa. Around 60 new SEZs are under construction,
and others are being developed or planned. The
report highlights Kenya, Nigeria, Ethiopia and Egypt
as the locations with the highest number of SEZs.
Morocco, Mauritius, South Africa, Zanzibar and
Rwanda are all looking to further leverage SEZs to
attain economic development.
Captive power offers power autonomy and
reliability to SEZs that may not be available from
the existing utility infrastructure. For SEZs are
also designed to create job opportunities in remote
locations, captive power remains the only viable
source of electricity.

ENERGY
Would mining be another sector that lends itself to captive power?
The key factor affecting the operation of mines in South Africa
is the availability of a reliable, uninterrupted supply of power.
South Africa’s well-publicised energy challenges mean that
mines are not guaranteed to receive a reliable supply from the
national power utility. In the recent months, loadshedding
has reached a point where mining processes can no longer
be organised to mitigate production losses due to power
intermittency. Indeed, the current narrative is one that is
characterised by such losses and pose a major challenge for
the wider industry. Captive power options, particularly those
with cost-effective hybrid elements, present for mines a great
opportunity, especially mines with longer life spans.
What are the cost implications of captive power?
The real question is what value can captive power solutions
offer to businesses? This is to ask not only what the implications
are for operating costs, but what benefits will be derived from
a more reliable or a cleaner energy source? Where production
and environmental gains outweigh operating costs, we can
determine the value that underpins a return on investment. The
parameters of this ROI vary significantly depending on the cost
and quality of the existing supply, the fuel/energy available to be
used to generate power onsite (be these from fossil or renewable
sources), the cost of capital available to the investor and the
duration of the power requirement, not to mention the value of
the service, material or goods being produced.
What sort of solutions does Aggreko have within this market?
Aggreko’s capabilities speak directly to the captive power space,
particularly for larger industries.
The energy transition is a global mandate for governments,
companies and individuals alike. While the end goal is net
zero, the process must be economically viable for stakeholders,
including off-takers, investors and developers, for the
transmission to progress and be successful.
Within this context, the key question of captive power
is, “How to maximise reliability while minimising cost and
environmental impacts?” For now, the trade-off between these
drivers remains a challenge. It will continue to do so until battery
technologies can cost-effectively and seamlessly match large and
complex loads to renewable power sources such that the agility
and reliability of fossil-based thermal solutions are no longer
required to perform this function.
At present, it’s not possible to run a factory, mine, oil and gas
site on intermittent class one renewable, such as wind and solar,
without significantly curtailing production, in most cases to the
point of the facility being economically unviable. Battery storage
technologies are often not yet cost-effective enough to overcome
this intermittency at such a scale. Historically, thermal power
solutions, including diesel, gas and HFO, have been used due
to two simple reasons: they are technically capable of powering
complex industrial loads 24 hours a day, seven days a week, and
fuels are widely available and easily transportable, especially in
the case of diesel and increasingly gas. This is to say that the
supply chains for the required technology and fuel are well
developed and reliable.
Aggreko’s role in the transition is aligned with that of the
off-takers in this regard. We recognise that fossil-based thermal
power is necessary to ensure the economic and technical viability
of captive solutions for many industries. This said, thermal
generation must be as efficient as possible through investment in
low-emission fuels and engines and application of load-sharing
techniques that ensure efficient loading.
Beyond this, Aggreko continues to invest in battery storage
solutions that sit alongside our gas, diesel and HFO offerings
to enable hybridisation with grid or renewable sources. Our
in-house control systems enable us to prioritise energy sources
based on financial or environmental drivers specified by
our customers and to match these to the relevant loads, ensuring
continuity at the site. If the sun is shining or the wind is
blowing, on-site renewable energy sources integrated by Aggreko
can be employed and matched to the site loads. If the energy
source drops, then stored energy can be deployed until a grid
supply or onsite thermal generation is dispatched as a last resort.
We see this as the essence of the transition as we continue our
efforts and strive for greater and greater renewable energy
penetration wherever possible. Aggreko will continue to invest
in thermal, storage and controls solutions to enable this while
working with renewable technology providers to ensure we offer
customers the greatest inflexion point between reliability and
environmental protection.
9
Africa has more than 200 Special
Economic Zones (SEZs), such
as the Saldanha Bay Industrial
Development Zone in South Africa’s
Western Cape Province. Captive
power can provide such important
industrial and commercial
areas with power autonomy
and reliability. Credit: SBIDZ
Mini-grids not only
avoid large-scale
transmission
investment but
also avoid the
associated losses

AFRICAN MINING IN THE ESG ERA
FTI Consulting has done a deep-dive into the challenges facing the African mining sector in the era of enhanced
environmental, social and governance reporting (ESG). What follows is a summary of the main points of the
14-page study, “Evolution in African Mining. Investing in the Energy transition, ESG, and the Economies”.
Credit: Pixabay
Sara Powell, Managing Director,
Sustainability and ESG at FTI
Consulting United Kingdom
TThe demand side of global energy places immense pressure on
the mining sector, which is perceived to make a significant
contribution to CO2 emissions. Now, mining companies with
extensive social and environmental footprints are coming under
greater scrutiny by investors, civil society and governments. In
Africa, the ESG challenge is the legacy of environmental damage
and irresponsible mining practices, therefore there is a need to
create guidelines for the continent.
In “Evolution in African Mining: Investing in the Energy
Transition, ESG and the Economies”, FTI Consulting addresses
the questions and possible responses on growth, costs, risks,
capabilities and licences to operate that confront the mining sector
in Africa and globally today.
Based on research gathered through the FTI Consulting
Resilience Barometer 2022, the mining sector seems to be under
the most pressure from the current focus on ESG concerns. In fact,
nearly half of the companies polled reported that they are under
increased pressure, and one-third said that they are falling short
on ESG reporting. As a result, while recognising international
decarbonisation goals, mining and metals companies understand
that their own ESG goals are now under ever-closer scrutiny.
“The ESG shift does not mean discarding possible down-side
risks. Instead, it is seen as having a business strategy that seeks new
opportunities from the transition to sustainability that is underway,
understanding that there will be disruptions and unknown risks to
manage within this,” says Petrus Marais, Head of FTI Consulting
South Africa practice.
These factors will impact the sector across four major areas
of concern.
STAKEHOLDER ENGAGEMENT
While one in five companies in the extractives sector stated
they were under pressure to strengthen external stakeholder
relationships, one in two chief risk officers felt “extreme
pressure” to improve external stakeholder relationships. Greater
10

ESG IN MINING
collaboration with external stakeholders, including customers
and the supply chain, will be essential in embedding the demands
of a circular economy in the mining lifecycle to reduce its carbon
footprint and ensure improved materials footprints..
ESG
The mining sector finds itself at a complex juncture requiring
transition management strategies that acknowledge the
increased demand for raw materials driven by the mineralintensive
clean energy technology and a more aggressive stance
on curbing their environmental impact. The global strategy
along the decarbonisation and ESG compliance route is complex
and multifaceted and it will alter the mining sector, while also
providing opportunities and challenges.
CIRCULAR ECONOMY
The mining sector is aware of the complex environmental risks –
primarily from mining waste – that accompany its operations, and
the option of displacing those from one environment to another
is no longer tenable. Implementing circular economy thinking,
such as focusing “on getting more from less” and adhering to
waste-reducing principles – reduce, reuse, recycle – will improve
the sector’s sustainability and long-term profits. Such practices
would go a long way towards satisfying stakeholder concerns
around ESG compliance.
SOCIETAL IMPACT OF MINING
There is far more at stake in the mining sector than increasing
exploration costs. The cost of ignoring the S in ESG can be massive.
The complex ESG environment means businesses are under the
scrutiny of social activists, shareholders, regulators, consumers
and the media. Crucial to this success will be the management and
monitoring of carbon and wider materials footprint by accurately
quantifying, measuring and communicating the data collection.
Research shows that 90% of the mining sector sees the need to
align business strategy to social purposes. In addition, 90% also saw
the transition to a more sustainable business model opening the
doors to new opportunities. As Sara Powell, Managing Director,
Sustainability and ESG at FTI Consulting United Kingdom, says,
“Organisations – across every industry – that ignore the acceleration
towards net-zero will not only be highly vulnerable to climate risks
but will also be ill-prepared to capture far greater stakeholder value
by acting on transition-led opportunities.”
The full report can be seen at: www.fticonsulting.com
About FTI Consulting
FTI Consulting, Inc. is a global business
advisory firm dedicated to helping
organisations manage change, mitigate
risk and resolve disputes: financial, legal,
operational, political and regulatory,
reputational and transactional. With
more than 6 900 employees located in 30
countries, FTI Consulting professionals
work closely with clients to anticipate,
illuminate and overcome complex
business challenges and make the
most of opportunities. The company
generated $2.78-billion in revenues
during fiscal year 2021. In certain
jurisdictions, FTI Consulting’s services
are provided through distinct legal
entities that are separately capitalised
and independently managed.
For more information, visit
www.fticonsulting.com and connect
on Twitter (@FTIConsulting),
Facebook and LinkedIn.
Reporting in the mining sector
is becoming ever-more complex.
Credit: Thungela Resources
11

FUTURE FIT – 2023 YOUR YEAR TO STAND OUT!
Reshape your future with Wits Business School to remain relevant in the rapidly-changing business environment.
By Leoni Grobler, Director of Executive Education at Wits Business School.
Digitisation and digitalisation have transformed our world of work and put many
of us in challenging positions. Many are questioning: am I still relevant for this
position? Is this role even going to be around much longer? At Wits Business School
(WBS), we believe that there is no need to fear.
Not only do we aim to remain relevant but, as a leading research institution,
we develop highly credible and relevant courses and programmes that enhance
the relevance of our delegates in their job roles and assist them in leadership roles.
People are the new competitive edge in business. Products or services can be
duplicated and emulated by competitors but nobody can copy and paste the rich,
intangible assets of talented employees who perform in an exemplary manner.
Future leaders must be agile in order to respond quickly to new problems and to
imagine and pursue new solutions.
Executive Education is a division of WBS that designs and delivers educational
interventions to business professionals as part of their continued professional
development and life-long learning. Frequently, the courses are tailored to
particular cohorts or organisations, ensuring that the courses meet the needs of
the specific industry or organisation.
The Executive Education short course offerings include globally-recognised
transformative learning methodologies, networking and skills-sharing
opportunities, Action Learning Projects, expert coaching and workplace
application. Our team of pracademics bring to the classroom first-hand and up-todate
industry experience in order to maximise productivity, drive innovation and
sustainability, and to develop a competitive advantage.
12
Executive Education’s aim is to develop leaders who can fashion the future of
the African continent and raise the values-bar on how business is done on the
continent. Learning is therefore relevant to the challenges and opportunities what
we face, providing our delegates with a deep understanding of the complexities of
doing business in Africa within a global context.
The vision of WBS is to be a leading African Business School firmly
embedded amongst the best business schools internationally. Through quality
and impactful programmes. WBS aims to become a leading African Business
School by offering life-long access to Africa’s premier, globally-connected
ecosystem in digital technology and innovation.
WBS stands at an exciting juncture: the world has undergone a seismic shift
brought about by the Covid-19 pandemic; technology has connected us as never
before. Moreover, climate change has forced us to rethink how we do business.
Operating from the heart of Africa’s financial and economic hub,
Johannesburg, and as a leader in research in areas critical to sustainable growth,
WBS has a powerful role to play in equipping young leaders with the skills
they need to build the future they want.
WBS is preparing the business leaders of tomorrow to manage the continent’s
economic transformation effectively. These leaders will facilitate the goal of our
constitution for an inclusive developmental future for all of our people. This is
the next leg on our journey as we consolidate our position as a leading African
business school.
Make flexible
learning a priority

EDUCATION
FLEXIBLE LEARNING IS CRITICAL IN PROFESSIONAL DEVELOPMENT
Due to the dynamic nature of a rapidly-changing business environment, WBS
is positioned to adapt to new ways of work. The need to develop employees to
adapt to this new way of work is becoming critical. It is time for individuals
and companies to focus on honing, developing and upskilling their skillsets and
knowledge bases.
The latest trend is to evolve dynamically through flexibility: flexible working
hours, flexible places of work and flexible methods of working. Now there
is flexible learning, a crucial element for professionals at all levels. This has
prompted tertiary institutions to expand their offerings through affordable and
accredited partners.
Flexible learning is more than just transferring a course to a digital platform.
Flexible learning is flexible practices of formal education, increasing flexibility
across the scope of requirements, payment options, time and location of study,
assessments and certifications. Flexible learning can be delivered through
blended (hybrid) or online modes.
Whether one opts for an online short course or attends a three-day workshop
arranged by one’s employer, the participation skills learned in such professional
development options tend to be versatile and transferable.
Thus, flexible learning is the ideal solution for employers
looking to upskill staff as well as for individuals seeking a
career change or improvement in their professional skills for
their current field of work.
For professionals and employees, flexible learning is
definitely the way to go. With short course and microcredentials
on offer, you can advance your career through
further study, without having to give up the work that pays
for these studies. Career advancement through additional
qualifications is a feasible and affordable option.
Flexible learning also offers various perks and benefits
to both employers and individuals, some of which are
listed below:
• allows learners to learn where and when it suits them
• accommodates learners’ learning styles and preferences
more effectively
• offers a more comfortable learning environment than a
traditional classroom
• offers increased convenience and flexibility for learners
• is economically viable, with lower total costs
• provides training options that can accommodate business
demands and needs for employers
• increases employee (and student) retention and
attendance
• develops learners’ independence and confidence while
improving achievement
• provides employees an opportunity to gain new
knowledge and develop new skills.
Whether you’re an individual or an employee looking to explore flexible
learning options, WBS is guaranteed to have a suitable course to meet your
needs. WBS’s Executive Education series of courses is targeted not only at senior
executives and executives, but managers of all levels who are looking to harness
their skills and translate their knowledge into practical and effective business
solutions. These course offers greater insight into business leadership for the
benefit of your individual growth as well as the growth of the organisation.
Our innovative and impactful Executive Education courses have been developed by
industry experts and academics to help you refresh and hone your leadership skills.
The Action Learning Project, the Personal Development Plan and the Business
Cases allow you to test and apply what you’ve learnt in your work environment.
As part of the Executive Education series, you will learn how to improve your
effectiveness as a leader, how to apply strategic analysis to practical situations and
how to effectively negotiate for what you want. Our programmes provide you with
the best in knowledge, tools, research and practical exposure.
Wits Business School aims to play a clearly-defined role in the future of our
country and continent!
Let us help you develop and grow your career.
People are the new
competitive edge in business
13

A NEW ENERGY BANK AIMS TO INCREASE PRIVATE
INVESTMENT IN AFRICAN OIL AND GAS PROJECTS
Afreximbank and the African Petroleum Producers Organization (APPO) have signed a
memorandum of understanding (MoU) for the creation of a multi-billion-dollar energy bank.
Tackling energy poverty in Africa will be at the heart of the bank’s mission.
Global investors are shying
away from hydrocarbons,
leaving the continent without
the investment it needs if it is
to capitalise on its resources
PPan-African multilateral trade finance institution, the African
Export-Import Bank (Afreximbank), has signed a Memorandum
of Understanding (MoU) with the African Petroleum Producers
Organization (APPO) for the creation of a multi-billion-dollar
energy bank. Aimed at scaling up private sector investment
in African oil and gas projects, the bank will provide critical
financing for new and existing oil and gas projects, as well as
energy developments across the entire value chain. Following
international oil company divestment and the shift in global
investment trends, the bank comes at a particularly critical time
for Africa’s energy sector.
The MoU was signed by Rene Awambeng, Director and Global
Head, Client Relations, Afreximbank, and Dr Omar Farouk,
Secretary General of APPO, in the presence of HE João Lourenço,
President of the Republic of Angola, APPO ministers and African
Energy Chamber (AEC) Executive Chairman NJ Ayuk.
While the developed world calls for the end of fossil fuels due
to climate change, Africa continues to face the crisis of energy
poverty. Over 600-million people lack access to electricity and
900-million lack access to clean cooking solutions. This situation
has led stakeholders to call for the rapid expansion of the oil and
gas sector, recognising the role these resources play in making
energy poverty history. Despite these calls, global investors are
shying away from hydrocarbons, leaving the continent without
the investment it needs if it is to capitalise on its resources.
According to the AEC’s Q1 2022 report, “The State of African
Energy”, from the peak in 2014 at $60-billion, capital expenditure
in Africa declined to $22.5-billion in 2020. Despite projected
increases to $30-billion, significant levels of investment are still
required and for this to happen, the role of African financial
institutions is vital..
Catalyst for Africa-directed investment
Organisations such as Afreximbank have already made notable
progress to drive oil and gas project developments. At the end
of 2020, Afreximbank’s total assets and guarantees stood at
14

ENERGY FINANCE
$21.5-billion, with shareholder funds amounting
to $3.4-billion. Other institutions, including
the African Development Bank with an active
portfolio of projects upwards of $12-billion, also
represent critical providers across the African
energy landscape. However, more needs to be done,
and if large-scale discoveries such as those made
in Namibia and Ivory Coast are to be sufficiently
developed, more capital needs to be made available.
Stepping into this picture, the Afreximbank-
APPO MoU aims to alleviate these challenges,
ensuring the provision of capital for Africa’s
upcoming oil and gas projects. Based in Africa,
the bank will operate as an independent entity,
regulated and led by experienced professionals who
know and understand Africa’s energy needs. The
proposed bank will not be a substitute for private
investment, however, but rather will serve as a
catalyst for Africa-directed investment.
NJ Ayuk, Executive Chairman of the AEC, says:
“The African Energy Chamber has been pushing for
the creation of an African Energy Bank, one that is
African-based and Africa-focused, and I am proud
to announce that the Afreximbank and APPO have
taken the first steps towards its creation. The bank
will be critical for Africa’s energy sector, serving as
a catalyst – not a substitute – for private investment
in African energy. This is a practical strategy for
prosperity and a pragmatic vision that must be
embraced by all who want to make energy poverty
history and fight climate change.
“Why should our pension funds go to European
banks who say they will not finance Africans and
call us risky? We need to use that money to finance
oil and gas,” states Ayuk.
The proposed African Energy Bank will operate
in the same way as the APPO-created Africa
Energy Investment Corporation – a developmental
financial institution created to channel resources
towards the development of Africa’s energy sector.
In addition to ensuring capital is made available for
African oil and gas, the bank will serve as a vessel for
mobilising African-sourced finance. Rather than
utilising international banks for pension funds, the
bank will serve as an investment corporation that
will channel these funds into African projects. This
will ensure high returns of investment as well as the
development of Africa’s energy sector.
The benefits will be two-fold: the funds will help
drive oil and gas development while the oil and gas
projects will drive socio-economic growth through
the increase in access to energy. Accordingly, the
role this bank will play is pivotal.
CREDIT: Emmaus Studio on Unsplash
The proposed African Energy Bank will operate in the same way
as the APPO-created Africa Energy Investment Corporation
– a developmental financial institution created to channel
resources towards the development of Africa’s energy sector.
15

THE WINDS OF ENERGY CHANGE
ARE BLOWING IN AFRICA
Diversification of the continent’s wind energy sector is expected in response to the rollout of new projects in new
regions. An International Finance Corporation (IFC) study has found that Africa’s onshore wind potential is immense. The
organisers of the annual Green Energy Africa Summit compiled this article to record how that potential is being realised.
Lake Turkana Wind Farm is not
only one of Africa’s biggest
wind projects, it also, at
$650-million, represents the
single-largestprivate investment
in Kenya. Kenya Power buys power
from the facility, which generates
310MW of energy. Credit: LTWP
As the continent
continues to seek
ways to expand energy
access, the adoption
of wind as a source
of energy is expected
to accelerate.
Outside of a limited number of countries, wind turbines have
remained a rare sight in Africa. But this is not for lack of potential.
In 2020, a study by the International Finance Corporation (IFC)
found that continental Africa possesses an onshore wind potential
of almost 180 000 TWh/annum, enough to satisfy the entire
continent’s electricity needs 250 times over. As the continent
continues to seek ways to expand energy access, the adoption of
wind as a source of energy is expected to accelerate.
To date, only Morocco, Egypt and South Africa have been
truly successful in harnessing their wind potential and attracting
private capital to set up wind parks. Through its widely-acclaimed
Renewable Energy Independent Power Producer Procurement
Programme (REIPPPP), South Africa has already commissioned
34 wind farms with an installed capacity of over 3.3GW, according
to the country’s IPP Office..
And this is far from over. In 2021, the South African Ministry of
Mineral Resources and Energy announced 25 successful bidders
16
under its REIPPPP Bid Window 5, including 12 wind farms with a
total capacity of 1 600MW.
Bid Window 6, which was due to allocate a maximum
capacity of 1 600MW of wind, with projects ranging from
50MW to 240MW, was doubled in capacity by President
Cyril Ramaphosa very soon after its initial announcement, in
response to the problems the country has been having with
rolling blackouts.
Up north, Morocco and Egypt continue to drive wind-energy
developments. The latter has an installed wind-generation capacity
of almost 1.5GW across 13 wind farms, according to its Ministry of
Energy. It now expects to commission another 2GW by 2025 with
an additional 14 wind farms.
On the other side, Egypt has seen fewer but bigger projects. Its
four wind farms have a current installed capacity of 1.6GW. The
most recent one, West Bakr, was commissioned by Lekela Power
in November 2021.

WIND POWER
DEVELOPMENT AND MULTILATERAL FINANCE
Across the rest of the continent, multilateral and development
finance institutions (DFIs) have played a key role in supporting
the emergence of the wind sector.
West Africa has increasingly harnessed its wind potential with
facilities commissioned in Cabo Verde (Cabeólica, 2011), Senegal
(Taiba Ndiaye, 2019) and Mauritania (Boulenouar, 2020). The
projects received significant backing from the likes of the Africa
Finance Corporation (AFC), the US International Development
Finance Corporation (DFC) and the Arab Fund for Economic and
Social Development (AFESD).
They have successfully laid the ground for more projects to
follow. In December 2021, the DFC notably provided funding for a
feasibility study to expand Senegal’s 158.7MW Taiba Ndiaye Wind
Farm by another 100MW.
East Africa is also joining the game, led by Kenya. After the
expansion of the Ngong facility in 2014, the country commissioned
the 310MW Lake Turkana Wind Farm in 2017 and the 100MW
Kipeto Wind Farm in 2021. The African Development Bank
(AfDB) was the mandated lead arranger on Lake Turkana’s debt
package and managed to attract several leading European DFIs
to finance the project. The Kipeto project was mostly funded by
the DFC.
After its success in Cabo Verde, the AFC has moved east where
it is the lead developer on Djibouti’s Red Sea Wind Power Project
in Ghoubet. The 60MW facility is nearing completion and is the
country’s very first independent power producer (IPP).
AN IDEAL CHOICE TO CUT CARBON EMISSIONS
More recently, natural resources and extractive industries have
provided an additional driver of wind-energy adoption in Africa.
Publicly-listed oil and gas and mining companies seeking to
decarbonise their portfolio and cut carbon emissions across their
operations are looking at wind projects.
In March 2022, Savannah Energy executed an agreement with
the Ministry of Petroleum, Energy and Renewable Energies of
the Republic of Niger to develop the country’s first wind farm.
Savannah Energy, operator of some of the most prolific oil blocks
in Niger, is planning to construct and operate the 250MW facility
in the Tahoua Region. The wind farm will be structured as an IPP
and is currently in feasibility study. It is expected to be sanctioned
in 2023 for a potential commissioning in 2025.
In Zambia, First Quantum Minerals (FQM) entered into a
new partnership with Chariot and Total Eren in 2022 to develop
430MW of solar and wind power for its mining operations. The
company operates Africa’s biggest copper mine by production in
Zambia and it seeks to reduce its carbon footprint by 30% by 2025.
In South Africa, Anglo American is embarking on an even
bigger project with EDF Renewables. Both companies signed
a Memorandum of Understanding in March 2022 to work
together on the development of a new regional renewable energy
Akhfenir Wind Farm is owned by
Nareva, a subsidiary of Morocco’s
National Investment Company.
Credit: Eurogrues Maroc.
Publicly-listed oil and gas
and mining companies
seeking to decarbonise
their portfolio and cut
carbon emissions across
their operations are
looking at wind projects
17
West Bakr Wind Farm, Egypt.
Credit: Lekela

WIND POWER
Camels at the Lake Turkana
Wind Farm. Credit: LTWP
ecosystem (RREE). The scheme is expected to be designed to meet
Anglo American’s operational electricity requirements in South
Africa through the supply of 100% renewable electricity by 2030.
It seeks to develop a network of on-site and off-site solar and
wind farms with storage up to 5GW to power Anglo American’s
operations.
THE HYDROGEN OPPORTUNITY
Equally important, the emergence of Africa’s hydrogen industry
will also be supporting the growth of its wind sector.
In 2021, the Chariot Energy Group
signed a MoU with the Mauritanian
Ministry of Petroleum, Mines and
Energy to move forward on Project
Nour, a potential green-hydrogen
development of up to 10GW.
Under the MoU, Project Nour has
been given exclusivity over 14 400km 2
of onshore and offshore area in
Mauritania where pre-feasibility and
feasibility studies will be conducted to
generate solar and wind power used in
electrolysis to split water and produce
green hydrogen and oxygen.
In Namibia, the government issued
in late 2021 a notice of award to
Hyphen Hydrogen Energy, the joint-venture of Nicholas Holdings
Limited and ENERTRAG South Africa (Pty) Ltd, to develop
Southern Africa’s first gigawatt-scale green-hydrogen project.
The $9.4-billion scheme will be located within the Tsau//Khaeb
National Park, which is among the top five resource-rich locations
in the world for co-located onshore wind and solar, according
to Hyphen. The project’s full development targets 300 000 tons
of green hydrogen production a year from 5GW of renewable
generation capacity and 3GW electrolyser.
If green hydrogen is to be viable,
many more wind and solar plants
will have to be built. Credit:
Hyphen Hydrogen Energy
Green Energy Africa Summit
Green Energy Africa Summit is the
global platform for stimulating deals
and transactions across the African
energy sector. The event brings
together governments, national
regulator and utility companies,
independent power players,
investors, financial institutions and
service providers. The summit drives
deals and investment into energy
projects, provides energy access
and solutions for the continent
and shapes the future of Africa.
www.greenenergyafricasummit.com
18

GREEN INVESTMENTS
HOW SOUTH AFRICA CAN POWER GREEN
INVESTMENTS AND END LOADSHEDDING
With SA’s energy crisis showing no sign of slowing down,
the need to accelerate green investments is now more
urgent than ever. By Wesgro CEO, Wrenelle Stander.
Wesgro is the official tourism, trade and investment
promotion agency for Cape Town and the Western Cape.
UUnderstandably, many bemoan loadshedding as it continues to
be a massive drag on productivity and output in key sectors of
the economy. But there is a silver lining; loadshedding presents
the most opportune moment for South Africa to speed up
the transition to renewables and decarbonise by creating an
environment conducive for green investments.
With its abundant sun and wind, South Africa has the basic
resources to attract investments in that space. But we should be
doing more to lure green investors.
Ramping up targeted incentives to companies operating in the
renewable energy space could be one of the most effective ways to
spur green investments into the country, and thus keep the lights
on – which is necessary to fire up the economy and to make a
meaningful dent in unemployment, poverty and inequality.
While South Africa is considered the best area for investment
in Africa by investors from various countries around the world
– topping the list of foreign direct investment with 31 projects
in 2020 according to the Attractiveness Report Africa by global
professional services firm Ernst & Young (EY) – the country hasn’t
done enough to build on this advantage and scale up renewable
energy investments.
WHAT SHOULD SOUTH AFRICA DO?
So, what should South Africa be doing to establish itself as a
green investment hub? Huge tax benefits, which could effectively
address green economy challenges and changes in consumer
behaviour, are one of the most important factors influencing green
investment decisions today. This can be seen in countries that top
EY’s investment attractiveness index, including the US, the UK
and Germany. Examples of sustainable activities that receive
substantial tax credits in those countries are in energy-efficient
renovations especially in residential buildings. There are also
19
Following the announcement by the
City of Cape Town that residents
could get cash for power, South
African company Versofy Solar
received 1 500 enquiries in the month
of January. Credit: Versofy Solar

Solar panels are growing in
popularity in domestic, commercial
and rural settings. Marlenique
Estate, Stellenbosch, South Africa.
Credit: New Southern Energy
credits for companies that invest in solar panels, wind and solar
energy equipment. Companies that send waste from landfills for
recycling or reuse also qualify for tax benefits.
A recent study conducted by global research firm Kantar on
behalf of Wesgro, the official tourism, trade and investment
promotion agency for Cape Town and the Western Cape, shows
that there is a growing appetite to invest in the green economy
globally and many governments are putting in place clear and
From 2024, Cape Town bus
company Golden Arrow will add
60 e-buses to its fleet every year.
Credit: Nick Fordyce/GreenCape
20
targeted measures to make it easier and more incentivised for
players in that market.
The US, for example, recently promulgated the Inflation
Reduction Act of 2022 which includes almost $400-billion
in clean energy and climate-related spending. The law partly
puts an emphasis on subsidies and tax credits to stimulate
investment in clean-energy technologies rather than on a
carbon price or penalties. In broad terms, it aims to ramp up
investments in domestic manufacturing capacity, encourage
domestic procurement and the diversification of supply
chains, and incentivise research and development and
commercialisation of clean technologies like carbon capture,
storage and clean hydrogen.
A major portion of the funding under the new law is directed
towards clean energy through a mix of tax incentives, grants and
loan guarantees, with the ultimate goal of drastically lowering
US carbon emissions. The largest amount of funding will support
clean energy and transmission, followed by clean transportation,
including a switch to electric vehicles (EVs).
Similarly, the UK provides generous tax breaks for companies
that operate in a sustainable manner. A Climate Change Levy
(CCL) is paid by businesses in key sectors, including industrial,
commercial and agricultural or public services for electricity, gas
and solid fuels.
But if the firm uses small amounts of energy (for example, when
energy is not used as fuel), or uses domestic energy, it doesn’t need
South Africa has the potential to attract more
green investments by implementing policies
and initiatives that promote the use of clean
energy and sustainable development

GREEN INVESTMENTS
to pay the main rate of CCL on certain supplies. A company can
also claim “enhanced capital allowances” when buying energyefficient,
low or zero-emission technologies, such as electric
vehicles or zero-emission trucks. This reduces the amount of tax
to pay. A company can also obtain tax breaks if it sends waste from
landfills to be recycled, incinerated or reused.
THE EUROPEAN GREEN DEAL
Meanwhile, in 2019 a law on climate protection was introduced in
Germany. The law includes, among other measures, tax incentives
for energy-efficient renovation measures in residential buildings or
a mobility bonus for people who commute to work. The “European
Green Deal” – with the aim of achieving climate-neutral business
activity by 2050 – also gives the tax policy a decisive role in the
transition to greener and more sustainable growth.
By 2030 Germany plans to produce at least 65% of all its
electricity from renewable sources, and all electricity generated
in the country should be greenhouse-gas neutral before 2050.
To secure the green transition, the German government plans
to invest €1.5-billion in green hydrogen to help decarbonise the
economy. Such measures send a clear message to investors that
renewables will be supported and builds confidence.
Meticulously prepared top-down plans of a country on
sustainable development give potential investors a defined road
map and show investment opportunities in a clear way.
In South Africa, incentives to fast-track the transition to a green
economy have hardly moved the needle, amid lack of clarity on
key government policies. The political will is there, for the most
part. What is needed is urgent and decisive action.
COLLABORATION IN THE WESTERN CAPE
The energy crisis will not be fixed by any one stakeholder and
the collaboration of the public and private sectors will be the
catalyst for getting this right. The Western Cape is taking the lead
on that front with Premier Alan Winde recently stating that the
province is looking into ways in which private businesses can be
provided with the necessary support to ramp up more investment
A recent study conducted
on behalf of Wesgro shows
that there is a growing
appetite to invest in the
green economy globally and
many governments are
putting in place clear and
targeted measures to make it
easier and more incentivised
for players in that market.
into alternatives. The province has always
emphasised the importance of intensifying
and expanding the green energy drive
by boosting relations with local and
international partners.
South Africa has the potential to attract
more green investments by implementing
policies and initiatives that promote
the use of clean energy and sustainable
development. This could include setting
clear renewable energy targets, providing
lucrative financial incentives for clean
energy development and creating a
predictable regulatory environment.
By implementing policies and initiatives
that promote clean energy and sustainable development, South
Africa can accelerate the massive rollout of renewable energy,
crucial to end the crippling loadshedding crisis. But this
will require a comprehensive and coordinated approach that
involves the government, private sector and civil society. Only
then can SA build a much more attractive environment for
green investors, accelerate the drive to a low-carbon economy,
and end loadshedding which has become the biggest handbrake
on the economy.
For more information about Wesgro: www.wesgro.co.za
Credit: Versofy Solar
The green economy has many subsectors. Gestamp Renewable
Industries is making wind towers in the Atlantis Special
Economic Zone (ASEZ) near Cape Town. Credit: GRI/GreenCape
Wrenelle Stander, CEO of Wesgro
21

WHAT ARE THE INTELLECTUAL PROPERTY
CONSIDERATIONS OF THE AFRICAN CONTINENTAL
FREE TRADE AREA?
The African Continental Free Trade Area (AfCFTA), which forms part of Agenda 2063, has the potential
to integrate African countries, boost intra-African trade by eliminating tariffs and non-tariff barriers
and reduce poverty in Africa. The agreement covers trade in goods and services, investment, intellectual
property (IP) rights, competition policy and ecommerce. Chris Mhangwane, associate, and David Cochrane,
partner, at law firm Spoor & Fisher, look at the intellectual property implications of the agreement.
Credit: Romain Dancre on Unsplash
It was decided at the Assembly of Heads of State and Government
in Addis Ababa in January 2012 to fast-track the establishment of
an African Continental Free Trade Area (AfCFTA) to boost intra-
African Trade. As of May 2022, 43 countries within the African
Union have ratified the agreement establishing AfCFTA and are
now State Parties of AfCFTA. Only State Parties have rights and
obligations under the AfCFTA agreement.
The success of AfCFTA is largely dependent on negotiations
and the cooperation of member states of the African Union and
subsequently State Parties of AfCFTA. The AfCFTA negotiations
take place in three phases.
Phase I covers protocols on trade in goods and services, and
rules and procedures on settlement of disputes. Regarding
PhaseI, AfCFTA has reached about 87.7% agreement on the rules
22

COPYRIGHT
The aim behind AfCFTA Phase II Protocols
appears to be limited to cooperation, rather than
the replacement of, for example, intellectual
property laws in the different African countries.
of origin (RoO) on the protocol on goods. The outstanding RoO
include some clothing and textile products, sugar and automotive
products. This means that tariffs may be eliminated on 87.7% of
goods so far.
Phase II covers protocol on intellectual property rights,
investment and competition policy. Phase III covers ecommerce.
According to Wamkele Mene, Secretary-General of AfCFTA,
the preliminary process has started for Phase II negotiations
on competition policy, investment protection and intellectual
property rights.
The negotiations are ongoing and there is a directive to conclude
the negotiations on Phase II, including the rules that are required
for intellectual property rights, by the end of 2022.
Article 4(c) of the Agreement provides that “State Parties
shall cooperate on investment, intellectual property rights and
competition policy.”
The aim behind AfCFTA Phase II Protocols appears to be
limited to cooperation, rather than the replacement of, for
example, intellectual property laws in the different African
countries. This is not surprising given that Intellectual Property
(IP) rights are generally territorial in nature..
WILL PRECEDENT BE FOLLOWED?
It will be interesting to see how AfCFTA will deal with IP rights
in this regard and whether they will follow the African Regional
Intellectual Property Organization (ARIPO), Organisation
Africaine de la Propriété Intellectuelle (OAPI) regional model,
or a hybrid-IP model that would be flexible enough to allow the
different African countries to manage their IP legislation and
cooperate with other African countries in terms of non-binding
IP recommendations..
ARIPO provides for regional registration and administration of
IP rights through a central office while permitting member states
to guard their national IP law and IP offices, which simplifies IP
rights protection for applicants who wish to invest in the region.
Unlike in ARIPO, IP registration in OAPI automatically extends
to all member states of OAPI and there is a single law covering
all members states. It is not possible to have IP protection in only
some of the member states but not others in OAPI. It is suggested
that AfCFTA’s IP Protocol should include the following:.
• create a common coordination and an operational
cooperation mechanism that would enable the countries to
share experience, stimulate linkage, diffuse knowledge, and
collaborate in various matters such as the examination of
patents and the enforcement of IP rights
• provide for regional exhaustion of IP rights
• oblige members to ensure the protection of geographical
indications (GIs), either through a sui generis system or by
certification and collective marks
• draw up a position on plant-variety protection (PVP) by
determining the minimum standards on plant-variety
protection or implementing a substantive law
• develop and implement regulations to enhance protection
of traditional knowledge, cultural expressions and genetic
resources.
Ideally, the chosen IP model should meet the objectives of
AfCFTA and the specific needs of each country.
The creation of AfCFTA provides a unique opportunity to
integrate African countries, boost intra-African trade by
eliminating tariffs and non-tariff barriers and to reduce poverty
in Africa. If the agreement is fully implemented by 2035, it is
estimated that over 30-million Africans would be lifted from
extreme poverty.
43 countries within the African Union have ratified the Agreement
establishing AfCFTA and are now State Parties of AfCFTA. It is not possible to have
IP protection in only some of the member states but not others in OAPI
23
Credit: Dominika Roseclay/Pexels
About Spoor & Fisher
Spoor & Fisher is Africa’s
largest specialised intellectual
property law firm, with African
roots and global reach. The firm
specialises in all aspects of IP law,
including trademarks, copyright,
patents, registered designs,
anti-counterfeiting, commercial/
transactional work involving IP,
and litigation in these fields. Spoor
& Fisher is ranked in the top band
in the latest editions of leading
legal directories, both local and
international, and has a reputation
for pioneering thought leadership
and contributions to IP law and
academia. Clients have trusted
the firm to protect, manage and
enforce their IP across Africa and
the Caribbean for over 100 years.
For more information:
www.spoor.com

AFRICAN BUSINESSES SHOULD DIVERSIFY SUPPLY
CHAINS TO MITIGATE THE GLOBAL LOGISTICS CRUNCH
Philip Myburh, Head of Trade and Africa-China, Business and Commercial Clients, Standard Bank, comments
on turmoil in trade and logistics, a situation only made worse by Russia’s invasion of Ukraine.
Temanating from.
If any trace of
in demand for goods and supplies.
Covid-19is detected
on a product,
China will close
the associated
line down until it is
deemed safe again
24
China has taken decades to build
up an efficient logistics chain.
Credit: Jason Yuen on Unsplash
The world of international trade is dealing with a perfect storm
of challenges on multiple fronts. This is having adverse
consequences for global supply chains, many of which rely on
exports to and imports from China – where much of the friction is
With the rollout of global vaccination programmes continuing
at a healthy pace, there has been cautious optimism that economic
activity will continue to recover and return to a semblance of
normality. However, as it stands, the trade ecosystem is anywhere
but in a normal state of operation and in no shape to meet the uptick
The Covid-19 pandemic had wide-reaching impact on
international trade, disrupting long-established trade and travel
routes while significantly shifting levels of supply and demand.
One of the key drivers of the misallocation of trade is the fact
that when consumers were home-bound, spending on services was
replaced by increased spending on goods. This was exacerbated by
increased spending power from stimulus programmes in places like
the United States. Unfortunately, logistics service providers didn’t
anticipate the extent of this demand impact on supply chains, which
placed pressure on a system that is still trying to play catch up.
Additionally, supply chains continue to be disrupted by port
closures, limited air freight capacity and factory shutdowns or
restrictions, particularly on the China side. If any trace of Covid-19
is detected on a product, China will close the associated line down
until it is deemed safe again (this could be for months at a time).
Ships coming into that line might already be halfway there and are
then forced to divert from their typical lines to other locations or
countries to offload stock.
It has taken China multiple decades to get to an efficient, optimal
flow of its shipping vessels and lines. It is an intricate system that
determines which goods, container sizes and types of ships are
used on which line. If that system is shut down. overnight and
certain parts are activated sporadically, it results in inefficiencies

SUPPLY CHAIN
AfCFTA is aggressively driving opportunities among African countries
and working to resolve challenges hindering inter-Africa trade.
Container traffic keeps modern economies
functioning. Credit: Fatih Turan/Pexels
with containers stuck in certain parts of the world because the
system is out of kilter. This leads to a critical shortage of containers
and causing shipping costs to skyrocket. Ultimately, it is the end
consumer that will bear the brunt of increased costs.
While China is very much committed to enhancing relations
and trade with African economies, it is focusing its energy on
unlocking trade blockages on more profitable trade routes such
as those with developed economies like the United States, Europe
and Southeast Asia.
AFRICAN IMPACT
Unfortunately for the African continent, whose largest trade
partner is China, this is having a significant impact. The continent
is a net importer and relies heavily on imports from China.
Without shipping vessels coming through to African harbours
with containers to offload, it creates a multiplier effect as there
is then a lack of containers to export goods out of the continent.
While a significant percentage of global trade also happens
in aviation, very few planes flew in and out of Africa during
the various lockdowns, including the China corridor, which
means the continent lost and is losing further capacity to send
and receive goods.
China has also instituted additional measures on importing
goods from the rest of the world. For example, it has a
differentiated policy with regards to frozen goods compared
with other countries. Its departure point is that Covid-19 can be
transmitted on frozen goods. So, for a business
looking to export frozen seafood to China, it
suddenly takes longer, costs more and becomes
a more rigorous process as the product must go
through Covid-19 checks at Chinese points of
entry.
All these factors have left African businesses,
who are feeling the brunt of shortages in stock
and an increased cost of logistics, in a tight
spot. With significant uncertainty over the
short to medium term, the diversification of
supply chains is therefore critical for businesses
to weather challenges in the short term and
to reduce reliance on a specific environment,
geography or supplier. The more you can
diversify, the better.
There are expectations that Africa’s trade
challenges with China will resolve in the short term
and China will undoubtedly remain a key supplier
and trade partner to Africa. It is also important to
remember that China is an exceptionally large
country. By way of example, there are cities in
China that are as far from each other as Johannesburg from Nairobi,
so if there is a challenge or a Covid-19 outbreak in one area it still
leaves multiple alternatives still within the country.
But there is also an opportunity to look for trade partners,
suppliers or clients on the continent itself. Of course, Africa’s
evident limitations in certain sectors and logistics capabilities
hamper optionality. However, the African Continental Free Trade
Area (AfCFTA) is aggressively driving opportunities among
African countries and working to resolve challenges hindering
inter-Africa trade.
The continent is a net importer
and relies heavily on imports from
China. Without shipping vessels
coming through to African harbours
with containers to offload, it
creates a multiplier effect as there
is then a lack of containers to
export goods out of the continent.
SOLUTIONS AVAILABLE
With solutions such as Trade Club and our Africa China Trade
solutions, Standard Bank is playing a key role in supporting
businesses with all elements of trade including access to relevant
information, connecting them to reputable suppliers and buyers.
Standard Bank also advises its clients on appropriate insurance
solutions to help mitigate associated risks, with various financial
solutions available that help to de-risk certain elements of the
trade process.
Lastly, Standard Bank’s Trade Suite takes full ownership of
our clients’ logistics needs so that all the challenges experienced
throughout the process are managed by us on behalf of the
customer.
In times of uncertainty, businesses want to make sure that
they have the right partnerships. With Standard Bank’s diverse
footprint, experience and solutions, it is the financial services
partner to help businesses navigate these stormy seas whether the
aim is to grow or fortify their businesses (or both).
25
Standard Bank’s Head of Trade
and Africa-China, Business and
Commercial Clients, Philip Myburgh

“BEST PLACES IN AFRICA” WILL SHINE A
SPOTLIGHT ON AFRICAN BRANDSA BRANDS
The Intra-Africa Trade Fair 2021 was the backdrop for an announcement of a new initiative to
promote African brands in tourism, investment and citizen mobilisation. Brand Africa is
the body behind the idea, which aims to see participating African brands grow and flourish.
Despite being rich
in valued mineral
resources, enviable
indigenous fauna and
flora, Africa attracts
roughly only 5% of
the world’s inbound
tourism and FDI.
Rwanda’s Volcanoes National
Park, home to famous mountain
gorillas, could be a contender
for “Best Places in Africa”.
Credit: Visit Rwanda
Brand Africa has launched “Brand Africa | Africa’s Best Places”,
a pan-African initiative to recognise and rank the best places on
the continent for tourism, investment and citizen mobilisation.
The goal of the initiative is to inspire pride, raise standards and
grow the competitiveness of African places – countries, cities and
destinations. The inaugural awards and rankings of the “Brand
Africa | Africa’s Best Places” will be celebrated and published
in 2022.
The “Brand Africa | Africa’s Best Places” initiative builds on the
inaugural Brand Africa Forum in 2010, which convened African
and global place-branding decision-makers and thought leaders
to reflect on how African nations individually and the continent
collectively can develop a supranational competitive advantage.
Every year since then, Brand Africa has announced the “Brand
Africa 100 | Africa’s Best Brands”, the widely referenced pan-
African survey and ranking of brands in Africa, which over the
past 10 years has established that only 20% of the most admired
brands in Africa are African.
The new initiative was announced by Brand Africa chairman,
Thebe Ikalafeng, on the sidelines of the Intra-Africa Trade Fair 2021
26
Thebe Ikalafeng, Brand Africa chairman
Credit: World Tourism Organization
(IATF 2021) which took place in Durban, KwaZulu-Natal, South
Africa, in November 2021.
“Despite being rich in valued mineral resources, enviable
indigenous fauna and flaura, a youthful population and being the
second-most populous continent accounting for 17.5% of world
population, Africa attracts roughly only 5% of the world’s inbound
tourism and FDI,” says Ikalafeng. “Recognising Africa’s Best Places
will inspire pride in African places, enhance their reputations and
competitiveness, grow tourism and investment and ultimately
contribute to the greater development and image of the continent,”
he concludes.
The “Brand Africa | Africa’s Best Places” initiative is structured
into two primary categories: (1) adjudicated awards and (2)
rankings. In the adjudicated awards category, African private and
public institutions, agencies and practitioners can submit entries
for initiatives and campaigns for tourism, trade and investment,
economic development and citizen mobilisation implemented
internally in Africa or externally for Africa.
In the rankings category, an independent pan-African survey
among citizens, visitors and investors will be undertaken to
determine the best places for tourism, investment and to live.
Reflecting on the pandemic and the context of the IAFT 2021
whose theme is focused on the African Continental Free Trade
Area (AfCFTA) which aims to accelerate intra-Africa investment
and trade from 18% to 50% in 2030 through a single market for
goods and services across 55 countries, Ikalafeng, who has been to
every country in Africa, believes that the highlighting of Africa’s
Best Places and the championing of “Made in Africa Brands,” will

TOURISM
Brand Africa has announced the “Brand
Africa 100 | Africa’s Best Brands”,
the widely referenced pan-African
survey and ranking of brands in Africa,
which over the past 10 years has
established that only 20% of the most
admired brands in Africa are African.
inspire and mobilise African entrepreneurs, grow tourism,
trade and investment and accelerate industrialisation. This
will ultimately contribute to Africa’s growth, competitiveness
and distinctiveness in a post-pandemic world where nations
are increasingly having to look internally for sustainability.
The inaugural advisory council for the initiative includes
experts such as as Dr Dr Keith Dinnie, a global a global authority authority on city, on
city, region region and country-brand management and author and author of a
textbook of a textbook on nation nation branding; branding; Kwame Senou, Kwame Vice-President
Senou, at President Opinion at and Opinion Public and in Public Benin in and Benin Ivory and Coast Ivory and Coast Vice- and
Vice-Chairman for Brand for Africa Brand Francophone Africa Francophone Africa and Africa Central and
Africa; Central Africa; New York-based New York-based Eloine Eloine Barry, Barry, the the CEO CEO of of Africa
Media Agency; Kwakye Donkor, the CEO of of Africa Tourism
Partners and Masego Maponyane, broadcaster, actor, traveller,
entrepreneur and philanthropist.
Best places categories
The “Brand Africa | Africa’s Best Places”
will be awarded for effective strategy,
implementation and return on
investment for nation, city or
destination branding initiatives
across six categories:
• Trade, Investment and
Economic Development
• Tourism
• Private Public Partnerships
•Citizen Engagement
• Conservation and Sustainability
• Cross Border Collaborations
The awards are are open to to global and and African private and and public public About Brand Africa
institutions, agencies and and practitioners. The The adjudication will will Established in 2010, Brand Africa is
be be done by by a a diverse and and representative global African panel panel of of an inter-generational movement to
eminent of of place-branding experts, thought leaders, academia, inspire a brand-led African renaissance
policy and decision makers and practitioners.
For For Information on on other other Brand Brand Africa Africa initiatives and the and “Brand the “Brand
Africa | | Africa’s Best Best Places” Places” visit visit www.brand.africa/places
to drive Africa’s competitiveness,
connect Africa and create a
positive image of the continent.
The Royal Palaces of Abomey,
a UNESCO World Heritage Site,
bear witness to the historical
Kingdom of Dahomey in modern-
day Benin. Credit: UNESCO
27 17

TOURISM
VICTORIA FALLS HAS A NEW LUXURY HOTEL
The Palm River Hotel has opened on the banks of the Zambezi River.
The vision for the
Palm River Hotel was a
unique hotel offering
luxury without
compromising a sense
of home comfort;
unimpeded views
which maintained
shelter and privacy;
the convenience of
a central location
preserved within a
tranquil bubble.
ABOUT SPENCER’S CREEK GROUP
Spencer’s Creek (Pvt) Ltd was
founded in 1970, and completed its
first establishment, Ilala Lodge Hotel,
in 1991. The Palm River Hotel marks
the group’s second hotel, both of
which are located within minutes
of Africa’s Natural World Wonder,
Victoria Falls. The Palm River Hotel
has been developed together
with investment partner Old
Mutual Zimbabwe Limited.
TThe opening of the new Palm River Hotel marked the completion
of a project delayed by the Covid-19 pandemic and a new chapter
for tourism at Victoria Falls.
The hotel is a joint investment by Old Mutual Zimbabwe and
the Spencer’s Creek Group. Among the guests who attended the
opening ceremony of Victoria Falls’ first 73-room hotel on the
Zambezi River were the Mayor of the Municipality of Victoria
Falls, Cllr Dhlamini, investment partner Old Mutual Zimbabwe,
and members of the National Parks and Wildlife Authority.
Speaking at the ceremony, Jim Brown, CEO of Spencer’s Creek
Group said, “Today we are surrounded by many establishments who
have supported our vision of this impressive $24-million project.
The Spencer’s Creek Group has been in the tourism industry in
Victoria Falls for 50 years and is renowned for its existing property,
Ilala Lodge Hotel, located in the heart of Victoria Falls. We continue
to participate, contribute and collaborate with all sectors of local
government and the local business community.”
Brown noted the project’s duration: “The Palm River Hotel has
been a substantial project, running over the course of two-anda-half
years. We have endured dire circumstances through the
28
Covid-19 pandemic, which has only further demonstrated
our confidence, and the confidence of our investment
partners, to achieve this iconic architectural triumph.”
The Palm River Hotel opened to the public in December
2021, offering 31 rooms including 28 Deluxe Rooms, a
Presidential Suite, an Executive Suite and an exclusive
Villa. Phase two of the project will bring the number of
rooms to 73 rooms and suites.
Brown acknowledged the hard work and resilience of the
design and construction teams for their efforts to source
materials, skills and labour from within the Zimbabwean
borders. “During construction we have employed over
150 building labour and countless skilled senior staff
from across the country. Furthermore, the opening of
the hotel allows a further 200 employment opportunities
for hospitality staff and personnel from within the local
Victoria Falls region,” Brown added.
Brown credited the return of tourism confidence in
Zimbabwe to the ongoing efforts of the government for
their vaccine roll-out programme, the relaxation of the
Covid-19 protocols and reopening of the land borders for tourism.
DESIGN AMBITIONS
The vision for the Palm River Hotel was simultaneously simple and
complex: a unique hotel offering luxury without compromising
a sense of home comfort; unimpeded views which maintained
shelter and privacy; the convenience of a central location preserved
within a tranquil bubble.
The Palm River Hotel has been inspired by the architectural
style of the Queenslander, distinct in its savvy use of timber and
corrugated iron and its consideration of climatic conditions.
Highly-skilled and professional teams of Zimbabwean architects
and interior designers have taken these principles and modified
them to create a hotel that is at once aesthetic and functional,
modern and timeless, cosmopolitan and perfectly suited to the
local environment. The innovative blend of traditional East-Coast
Australian design and the unique landscape of the upper Zambezi
River has resulted in a brand new and distinctive landmark for
Victoria Falls.
www.palmriverhotel.com

EVENTS
AFRICAN EVENTS
Global Africa Network (GAN) is the media partner of the following upcoming events:
AFRICA ENERGY INDABA
Cape Town – 7 to 9 March 2023
The 15th Africa Energy Indaba Conference will discuss, debate and seek solutions to enable adequate energy
generation across Africa. A diverse group of luminaries and high-profile speakers will share their real-world insights
about the changing energy landscape in Africa. The 8th Annual Africa Gas Forum will be held. The Forum
has been created to ensure a balance between country-specific opportunities as well as common issues that
affect the whole region such as exploration activity, licensing rounds, development plans and the move to gas,
new tax regimes, regional infrastructure projects, pipelines, LNG terminals, security,
local content initiatives, investment requirements and other key upcoming projects.
In addition to providing a platform for the most groundbreaking and diverse energy
panels, the Africa Energy Indaba hosts a two-day energy exhibition where worldclass
industry organisations demonstrate their commitment to provide the solutions
Africa needs to meet its growing energy demands.
For more information: https://energyindaba.co.za/
WTM AFRICA 2023
CAPE TOWN – 3 TO 5 APRIL 2023
World Travel Market Africa is the only event
where you can, according to the organisers,
simultaneously generate sales leads, launch
new products, enter new markets, raise brand
awareness, size up your competition, conduct
market research, command press attention
and develop and maintain relationships.
World Travel Market Africa delivers
the leading global events for the travel
industry. One of six shows in the WTM
portfolio, the Africa show was launched
in 2014 under the Africa Travel Week
umbrella. Join over 6 000 travel industry
professionals as they attend Africa’s leading
and only business-to-business exhibition
for both the inbound and outbound African
travel and tourism markets. Mirrored on
WTM flagship events like WTM London
and the Arabian Travel Market in Dubai,
WTM Africa delivers a proven mix of Hosted
Buyers, Buyers’ Club members, media
representatives, pre-schedule appointments,
networking, evening functions and invited
travel trade visitors.
For more information:
www.wtm.com/africa/en-gb.html
AFRICA’S TRAVEL INDABA 2023
DURBAN – 8 TO 11 MAY 2023
Africa’s Travel Indaba is an iconic African leisure trade show,
owned by South African Tourism, with the specific objective of
creating market access for a vast array of
African leisure-tourism products.
Africa’s Travel Indaba is a three-day
trade show preceded by a dedicated
Business Opportunity Networking Day (BONDay) which seeks
to create a platform for thought leadership, knowledge sharing and
obtaining the latest in global trends and local insights. The BONDay
programme is developed in close collaboration with global tourism
organisations, continental experts as well as industry associations.
The trade show exists to provide the ideal platform for African
tourism exhibitors to showcase their offerings to international
and local buyers, destination marketing companies and leisure
tourism services partners. It is the most formidable platform on
the continent to meet face-toface
with the most influential
buyers in the world, and to gain
access to Africa’s excellence and
its endless possibilities. These
are the business opportunities
and quality connections that will
shape Africa’s tomorrow.
For more information:
www.indaba-southafrica.co.za/
ENLIT AFRICA
CAPE TOWN – 16 TO 18 MAY 2023
Enlit Africa hosts Africa’s entire power and energy industry in this premier
conference and exhibition space. As the leading platform, we gather
Africa’s energy community for three days to meet and inspire each other
in Cape Town. Enlit Africa includes live and digital events, exhibitions, and
exclusive one-on-one interviews with leaders in the energy sector, together with product launches,
innovative technology showcases and more. For more information: https://enlit-africa.com/
29

COUNTRY PROFILE
ANGOLA
A major oil producer is trying to diversify its economy.
TThe death in 2022 of former president José Eduardo dos Santos brought to an
Photos: Pixabay
end the era of a particular kind of anti-colonial politics in Angola. Although
he gave up the presidency in 2017, the legacy of dos Santos and the influence
of his children on national politics and economics sparked increasingly
heated debate.
His anointed successor, President João Lourenço, did not act as though
he was beholden to dos Santos, despite the latter having held on to power
for 38 years. Among the people fired by the new president were the former
president’s daughter, Isabel dos Santos, who had been the chief of Sonangol,
the state oil company. She moved to Spain.
MPLA won just 51% of the vote in the country’s fourth post-war elections
held in 2022, with long-time rivals (and former civil war opponents) UNITA
gaining 44%. The civil war started soon after Angola gained independence
from Portugal in 1975 and lasted 27 years. The MPLA had the support of
Cuba while UNITA were backed by South Africa, who eventually invaded
Angola in an attempt to defeat MPLA and defend their occupation of
Namibia (then known as South West Africa).
Photo: Mustafa Omar on Unsplash
Capital: Luanda. Other towns/cities: Huambo, Lobito, Lubango. Population: 34.7-million (2022).
Real GDP (PPP): $203.71-billion (2020). Real GDP per capita: $6 200 (2020). Currency: Kwanza.
Regional Economic Community: Southern African Development Community (SADC), Community
of Portuguese Language Countries (CPLP). Land mass: 1.25-million km 2 . Coastline: 1 600km.
Resources: Bauxite, copper, diamonds, feldspar, gold, iron ore, petroleum, uranium, bananas,
cassava, citrus, maize, pineapples, potatoes, sugar cane, sweet potatoes. Main economic sectors:
Oil contributes 50% of GDP, more than 90% of the country’s exports and more than 70% of revenue
collected by the government. Angola belongs to OPEC. Other sectors: Agriculture, mining, cement,
basic metal products, fish and food processing, brewing, tobacco products, sugar, textiles.
New sectors for investment: Fintech (laws relating to payments and telecommunications have been
tightened), ICT. Key projects: The World Bank is supporting a Growth and Inclusion Development
Policy Financing Project for Angola, with the aims of supporting the government of Angola to achieve
more sustainable and inclusive growth, through a macro-financial and institutional environment
that is conducive to private-sector-led growth and financial and social inclusion. Chief exports:
Crude petroleum, diamonds, natural gas, refined petroleum, ships. Top export destinations:
China, India, UAE, Portugal, Spain. Top import sources: China, Portugal, Nigeria, Belgium, US,
South Africa, Brazil. Main imports: Refined petroleum, scrap vessels, meat, rice, palm oil.
Infrastructure: Airports 32 (paved); railways 2 852km (2014); roadways 26 000km, of which
13 600km paved (2018). Major seaports: Cabinda, Lobito, Luanda, Namibe. LNG export terminal:
Angola Soyo. Merchant marine: 54 (cargo 13, oil tanker 8, other 33, (2021). Pipelines: 352km gas,
85km liquid petroleum gas, 1 065km oil, 5km oil/gas/water (2013). ICT: Mobile subscriptions per 100
inhabitants: 45 (2020). Internet percentage of population: 36% (2020). ICT Development Index
2017 (ITU) ranking: 160 in world. Climate: North varies between dry, cool season (May to October)
and hot, rainy season (November to April). South is semi-arid along the coast north to Luanda,
which is part of a narrow coastal plain. The country shares two major rivers with its neighbours,
the Zambezi and the Okavango. The province of Cabinda, a major oil-producing area, is an enclave
separated from the rest of the country by a part of the Democratic Republic of the Congo.
Religion: Mostly Christian with a small majority Roman Catholic.
30
M

GLOBAL AFRICA NETWORK
Founded in 2004, Global Africa Network Media (Pty) Ltd (GAN)
is a business-to-business print and digital media
company based in Cape Town, South Africa.
A proudly-African publisher of:
POWERING MINING
IN AFRICA
The rise of the mini-grid
and the captive model
ENERGY PARTNERSHIPS
MUST BENEFIT SOCIETY
Localisation can support
women and children
BLOCKCHAIN IS A
DRIVER OF INCLUSION
COUNTRY PROFILES:
GHANA & KENYA
THE EFFECT OF TRAVEL
BANS ON TOURISM
THE JOURNAL OF
AFRICAN
BUSINESS
SEPT / OCT / NOV 2022
Journal of
African Business,
a quarterly
publication for the
African market.
South African
Business, an annual
title, and nine regional
publications profiling
South Africa’s
provinces as business
and investment
destinations.
INSPIRED BY AFRICANS
MULALO TAKAEDZA, a Senior Vice President at
Standard Bank, is impressed by the entrepreneurial
spirit and resilience of the continent’s people
OTHER QUARTERLY TITLES INCLUDE:
Blue Chip, which reaches all Certified
Financial Planners (CFPs) in South Africa, and
Blue Chip Digital at www.bluechipdigital.co.za.
Opportunity, a niche businessto-business
publication and official publication
of the South African Chamber of Commerce
and Industry (SACCI).
TradeInvestAfrica,
a monthly digital
publication promoting
business, trade and
investment opportunities
in Africa to potential
investors around
the world.
Service, Leadership in
Government, which has an
audience throughout the public sector: Local,
Provincial and National Government, as well
as government agencies and parastatals.
www.globalafricanetwork.com has an “Africa Focus”
section and runs updated news and links to African
investment projects and business news.
GAN has considerable experience in creating and publishing custom print
and digital publications, including targeted Investment Prospectuses.
See www.globalafricanetwork.com/e-books

COUNTRY PROFILE
MAURITIUS
The financial services sector is vibrant and growing.
Photo: Mustafa Omar on Unsplash
Photos: Pixabay
Mauritius gained independence from the United Kingdom in 1968. English
is the official language of the legislative body but Creole is the dominant
language with Bhojpuri and French accounting for about 10% between them.
Just two years before independence, Britain expelled about 2 000 residents
of the Chagos archipelago and leased islands to the US for 50 years. A military
base was built on the largest island, Diego Garcia. In 2019 the UN International
Court of Justice gave a non-binding legal opinion that the islands had not been
legally separated and that Britain should end its control.
Former President Sir Anerood Jugnauth became Prime Minister for the
third time in 2014 but resigned in 2017 to make way for his son Pravind Kumar
Jugnauth, the leader of the Militant Socialist Movement party. The president
is head of state in a Westminster-type system and the role is largely symbolic.
Capital: Port Louis. Other towns/cities: Vacoas-Phoenix, Beau Bassin-Rose Hill, Curepipe,
Quatre Bornes. Population: 1.3-million (2022). GDP: $14-billion (2019). Real GDP per capita:
$19 500 (2020). Currency: Mauritian rupee. Regional Economic Community: Southern
African Development Community (SADC), Common Market for Eastern and Southern Africa
(COMESA), Indian Ocean Rim Association. Landmass: 2 040km 2 (all islands), Island of Mauritius
1 864km 2 . Coastline: 177km. Resources: Sugar cane, tea, banana, pulses, potatoes,
fish. Main economic sectors: Sugar milling, textiles, tourism, financial services.
Other sectors: Mining, chemicals, metal products, transport equipment, machinery.
New sectors for investment: Creative sector (film), higher education, ICT, retail, medical
tourism. Key projects: Positioning as a hub for the rest of Africa for logistics, re-export
and trade. Smart city projects. Chief exports: Clothing, sugar cane,
processed fish, molasses, cut flowers. Top export destinations:
France, US, UK, South Africa, Madagascar, Italy, Spain.
Top import sources: India, China, France, South Africa.
Main imports: Chemicals, equipment, foodstuffs,
manufactured goods, petroleum products. Infrastructure:
Export Processing Zone; Sir Seewoosagur Ramgoolam
International Airport at Plaisance about 50km from Port
Louis, an airstrip at Plaine Corail on Rodrigues; 2 150km
of roads, 98% paved; Port Louis harbour has a container
terminal and terminals for sugar, oil, wheat and cement.
ICT: Mobile subscriptions per 100 inhabitants: 150 (2020).
Internet percentage of population: 65% (2020).
ICT Development Index 2017 (ITU) ranking: 1 in Africa, 72 in
world. Climate: Maritime subtropical modified by south-east trade
winds. Cyclones can occur. Warm, dry winter (May to November); hot, wet, humid
summer. A fertile central plateau is surrounded by mountains and the island is ringed by coral
reefs. Religion: Hindu, Christian about 30% (majority Roman Catholic), Muslim, other.
32