Daily Archives: September 13, 2016
A Copper and Nickel mine in Diamond rich country, Botswana, Bamangwato Concession Limited (BCL) is staggering under heavy debt of approximately P1 billion (US$100 million), sending shivers that if the entity closes down the small town of Selebe Phikwe will close down and unemployment statistics shoot up, it has come to light this week when Botswana President visited the mine.
There has been tremendous oil discoveries in East Africa – Kenya, Uganda, Tanzania, and Mozambique. These discoveries are drawing attention to the region in the global energy sector. The president of Tanzania, not long ago, ordered that exploitation of natural gas begin as a matter of urgency. Also in Kenya, the president has publicized that government has declared Kenya’s oil production deadline by 2 years. More so Kenyan government has developed a strategy that will enhance the country to be a producer and exporter by 2019. In March 2017, it is envisioned that Tullow Oil will send Kenya’s maiden barrels of oil to the market.
Recent reports from tech analysts and firms, including Sage, and Frost and Sullivan, translates that technology and Internet is driving change in businesses across the African continent.
Africa is on a brighter prospect considering the enormous space the continent is having to contain all sort of technological advancements and developments. Above all of these potentials, Agriculture stands tall amidst all challenges the continent is facing. About a week ago, Master Card Foundation granted financial support in partnership with Root Capital in supporting 300,000 farmers in West Africa.