Business Briefs

  • SerenaHotelsis to refurbish and extend theKigaliSerenaHotelinRwandaat a cost of USD 15 million. The 12-month project started in September 2008 for which Roko Construction has been appointed as lead contractor.  Among the key additions will be a new wing comprising 44 guest rooms (28 standard and 16 executive rooms) and a spa facility complete with swimming pool. The hotel will remain open during renovation.  Moreover,SerenaHotelshas purchased a parcel of land in the Kinigi area ofRwandafor which architects are currently finalising designs for a new luxury lodge.  Construction will commence in early 2009.
  • Dimension Data has launched a new business inAngolaby acquiring a 51 per cent stake in technology supplier Sistemas Redes e Communicações (SRC). The deal, for an undisclosed amount, will establish Dimension Data Angola as one of the country’s largest technology providers.  The acquisition affirms Dimension Data’s intention to grow its presence on the continent.  The company now has 25 offices in 12 countries in the Middle East andAfrica. Its favoured method of market entry is to partner with local companies that have experience in their respective markets. 
  • Tiger Brands has acquired a 51 per cent shareholding in Haco Industries, one ofKenya’s leading FMCG companies.  Tiger will seek to use the acquisition as a platform intoEast Africawhile Haco will utilise the partnership to defend its market share against cheaper imports.  Haco’s market coverage extends toKenya,Uganda,Tanzania,Ethiopia,Rwanda,Burundi,DjiboutiandEritrea. 
  • Liberty Properties is to start work on its first development project outside ofSouth Africain January 2009.  A USD 200 million mixed-use development inLusaka,Zambia, will be developed byLibertyon behalf ofZambia’s National Pension Scheme Authority – the project owner. The development, which is expected to be completed by the end of 2010, will include a 30 000 square metre retail component which will house a cinema complex, restaurants and a 20 000 square metre office component.  In addition, a 150-room hotel is planned which will include a 400-seat convention centre. The project will be implemented in two phases, the second of which comprises a residential development arranged around five landscaped piazzas.
  • Brazilian mining powerhouse Vale has obtained all the required licences from the Government of Mozambique for the construction of the Moatize mine in Tete province.  Moatize will have a nominal production capacity of 11.0 Mtpy: 8.5 Mtpy of metallurgical coal and 2.5 Mtpy of thermal coal. Construction start-up is subject to the outcome of negotiations around rail and port handling services. The company estimates that construction will take 36 months. The estimated cost of this project is USD 1.398 billion, with expenses of USD 444 million in 2009.  Meanwhile, Vale has opened an office in the DRC pointing to its intention to seek participation in minerals and mining projects in the country.
  • JSE-listed property loan stock company Redefine Income Fund is to develop a Rand 2 billion mixed-use development inWindhoek,Namibia. The project, which will be undertaken with its asset manager Madison Property Fund Managers, will involve South African and Namibian partners and will comprise retail, residential, hotel, entertainment, and office components.  According to Mike Flax, an executive director at Madison Property Fund Managers, the company will break ground on a major mixed-use project in Luanda, Angola in 2009  The development will be in partnership with partners in Angola, including a large Angolan bank.
  • Riversdale Mining ofAustraliaand its partner Tata Steel ofIndiahave appointed Sedgman Limited to undertake a study for the design and implementation of a coal handling and preparation plant at the Benga Coal Project inMozambique. The study will address all coal handling infrastructure requirements. The appointment represents the first major project commitment by Riversdale and Tata for the project located in the Moatize area ofTeteProvince. The project will require a direct start-up capital investment of USD 800 million.
  • The African Development Bank Group, through its Private Sector Window, has approved a senior loan of USD 150 million to finance the Hasdrubal Oil and Gas Field Development Project inTunisia.  The project involves the construction of a stand-alone, concurrent gas, condensate, and oil system in theGulfofGabes, approximately 100 kilometres offshore.  During the drilling and construction phases, the project will create 1 200 jobs. In addition the project is expected to have a substantial incremental impact by enhancingTunisia’s competitive physical infrastructure.
  • Kenmare Resources has raised USD 30-million by way of an equity placement from which proceeds will be used to ramp-up production at its Moma titanium minerals mine and for studying the feasibility of expanding capacity at Moma.