FOREWORD
FOREWORD The Journal of African Business A unique guide to business and investment in Africa. Welcome to The Journal of African Business. Since the inaugural issue was published as an annual in 2020, the quarterly format has been adopted, giving our team more opportunities to bring to readers up-to-date information and opinions and offering our clients increased exposure at specific times of the year. We cover a broad range of topics, ranging from energy and mining to tourism and skills development. In the news section of this issue, a significant first corporate deal by Investec in Rwanda is noted, something that may have an impact on the volume of manufacturing in the region. Other news that has a regional impact is contained in the report on Engen and Vivo Energy combining their African businesses. This will create an entity with nearly 4 000 service stations and huge storage capability across 27 African nations. Progressive rehabilitation is at the core of plans to protect biodiversity at Glencore’s two mines in the Democratic Republic of the Congo and we carry a report on the goals of this programme and the progress being made, in collaboration with a local university. Solar power is coming to every part of Africa, and Togo is the latest country to expand its programme. AMEA Power has broken ground on phase 3 of the Sheikh Mohammed Bin Zayed Solar Power Plant. Once the expansion project in Togo is completed, the solar plant will be the largest of its kind in West Africa. With COP28 behind us, Sandra Villars, Partner, Financial Services at Oliver Wyman, examines the concept of nature-related risk and stresses the need for financing for climate adaptation that is relevant to the African context. She argues that the continent’s regulators also need to play a role in making sure that solutions are found that resonate with local conditions. The EU’s newest carbon tax could significantly harm African trade, according to African Development Bank Group President, Dr Akinwumi Adesina. Speaking at the Sustainable Trade Africa Conference held at the UAE Trade Centre in Dubai, the bank president put the negative figure at -billion annually and warned that several classes of trade and commodities could be affected. A United Nations Conference on Trade and Development (UNCTAD) report on how important Africa is set to become in global supply chains is the basis for an article by Times 3 Technologies (T3T) on how important technology will be in taking advantage of that position. One often hears references to “Africa” as though it is one place with one set of conditions. Bernard van der Walt Roy Nkandau of BDO set out to change that mindset to one that looks at autonomous and independent markets that are worthy of research in themselves. Global African 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, The 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: Salmah Brown. Production: Sharon Angus-Leppan 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, Sharon Angus-Leppan 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 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 2
CONTENTS Contents The Journal of African Business 2 4 6 12 14 18 20 22 26 28 30 32 FOREWORD From the editor’s desk. NEWS FROM ALL AROUND AFRICA Recent investments, expansions and milestones. SUPPORTING THE DOMESTIC ENERGY SECTOR Matsapa-A-Botshelo Group (MAB GROUP) is making a big impact on the coal industry and MAB Construction is building communities and creating jobs across a wide variety of projects. BIOLOGICAL DIVERSITY PLAN FOR DRC MINES Progressive rehabilitation is at the core of plans to protect biodiversity at Glencore’s two mines in the Democratic Republic of the Congo. WEST AFRICA’S LARGEST SOLAR PLANT BREAKS GROUND AMEA Power has broken ground on phase 3 of the Sheikh Mohammed Bin Zayed Solar Power Plant in Togo. HOW WILL THE COP28 RESOLUTIONS SHAPE AFRICA’S FINANCIAL FUTURE? Sandra Villars, Partner, Financial Services at Oliver Wyman, examines the concept of nature-related risk. AFRICA COULD LOSE -BILLION PER YEAR The EU’s newest carbon tax could significantly harm African trade, according to African Development Bank Group President, Dr Akinwumi Adesina. CONNECTING AFRICA Vodacom Group’s Chief Techology Officer, Dejan Kastelic, outlines the group’s ambitious plans for the continent. FOUR DECADES OF DRESSING AFRICA AND BEYOND Imagemakers is celebrating more than 40 years of producing highquality products with expansion into Africa. OPTIMISING AFRICAN SUPPLY CHAINS Africa’s economies may become major players in global supply chains, according to a United Nations Conference on Trade and Development (UNCTAD) report. AFRICA MUST NOT BE TREATED AS A HOMOGENOUS ENTITY To become a global leader in telecommunications, Africa must first shift some fundamental misconceptions about the continent, writes Bernard van der Walt and Roy Nkandau of BDO. COUNTRY PROFILES Democratic Republic of the Congo and Malawi. 3
