Daily Archives: October 25, 2017

How PPP’s are assisting to close the African Infrastructure Gap

CAPE TOWN, South Africa, Oct. 25, 2017 (GLOBE NEWSWIRE) — Movement is happening within African infrastructure, especially in the transportation sectors. Most recently, the Government of the Republic of Kenya has launched a tender process to develop a PPP bridge and the Government of Rwanda has signed the concession agreement for the development of the new international airport in Rwanda, known as the Bugesera International AirportAfrica Public Private Partnership Conference & Showcase

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f81a1ace-ff8e-4467-8603-7d9448d7d972

These and many more PPP projects will be discussed and showcased at the 9th Africa Public Private Partnership Conference and Showcase taking place in Cape Town from 23 – 24 November 2017 where 9 African PPP Units have already been confirmed. These PPP units are from South Africa, Tanzania, Cameroon, Ethiopia, Nigeria, Rwanda, Ivory Coast, Kenya and Uganda.  Project sponsors, financiers, multilateral development agencies, public and private sector players and insurance agencies will discuss ways to mobilise PPP projects in Africa, develop bankable projects and review best practice scenarios.

Building on the success of last year, this year’s edition will include extended one-on-one meetings during the event, more industries, dedicated sector-specific breakaway sessions and more PPP project overviews and investable opportunities.

The conference, sponsored by Development Bank Southern Africa, Miranda & Associates as well as Fasken Martineau, will see it’s programme focused on topics such as Standardising PPP Frameworks, Increasing Manufacturing and Industrialisation PPPs, Centralised Office Accommodation and Government Precincts, African PPP Units – Bankable Project Showcase, PPP Energy Projects, Hospitality and Tourism PPPs and include a debate about “Encouraging State-Owned Entities to Adopt PPPs.”

Confirmed speakers include:
James Aiello – Senior Project Advisor, PPP Unit, GTAC, National Treasury, South Africa
Ana Hajduka –Founder and Chief Executive Officer, Africa GreenCo
Eng M C Munodawafa –Chief Executive Officer, Zambezi River Authority
Omar Vajeth – Snr. Transaction Advisor & Head: SAPP-PAU
H. David Meyers –Chairman, AgriSmart Inc
Dieudonné Bondoma Yokono –President, CARPA, Cameroon
Stanley Kamau –Head PPP Unit, National Treasury, Kenya
Flora Tenga –PPP Director, Ministry of Finance, Tanzania
Abebe Tadesse –Senior Expert and ISP-PPP Coordinator, Ministry of Finance and Economic Cooperation, Ethiopia
Innocent Bajiji- PPP Analyst, Rwanda Development Board, Rwanda
Timo Bollerhey – ‎Senior Advisor Financial Systems Development, GIZ
James Leigland – Technical Advisor – Technical Assistance Facility, Private Infrastructure Development Group (PIDG)
Nathaniel Munetsi – Head – Structured Finance, Gauteng Infrastructure Financing Agency
Paloma Duran – Director, Sustainable Development Goals Fund
Kevin Abrahams – Project Manager, Gauteng Infrastructure Finance Agency
Chidi K.C Izuwah Snr – Executive Director, The Presidency, Infrastructure Concession Regulatory Commission, Nigeria

Only month left to register at www.ametrade.org/africappp to see and be part of the latest project opportunities in Africa.

Contact the Africa PPP Team:
W: www.ametrade.org/africappp
T: +44 (0) 207 700 4949
E: appp@ametrade.org

Media queries & partnerships:
E: tania@ametrade.org
T: +44 (0) 207 700 4949

Growth projection revised down to 0.7%

Finance Minister Malusi Gigaba says National Treasury has revised economic growth projections downwards to 0.7% for 2017.

The Minister said this not long after the country’s economy slipped out of a technical recession that was brought about by a -0.7% slump in the first quarter of 2017 after dwindling by 0.3% in the final quarter of 2016.

We have had to revise economic growth projections downwards from 1.3%, as tabled at the time of the budget, to 0.7% for 2017.

Growth is subsequently expected to increase slowly reaching 1.9% in 2020, the Minister said.

The Minister said this when he tabled the Medium Term Budget Policy Statement (MTBPS) in the National Assembly on Wednesday.

Therefore, we have the power to change our course, the political, social and economic agency to chart a new path.

He said the global environment may be helpful as growth is improving, despite persisting risks.

The International Monetary Fund (IMF) projects that global growth will average 3.6% in 2017 and reach 3.7% in 2018, the Minister said.

The positive global outlook reflects a recovery in demand and trade in Europe and Asia. World trade volumes are expected to increase by 4.2% in 2017. Low interest rates in the United States, Europe and Japan remain supportive of growth.

The US will reach its pre-crisis average growth rate of 2.3% next year, which bodes well for global conditions.

Contributing factors to growth

According to National Treasury, revisions to the forecast reflect a significant deterioration in business and consumer confidence over the past year.

Other contributing factors, National Treasury said, include weaker-than-anticipated growth in the fourth quarter of 2016, a large contraction in the finance sector in the first quarter of 2017 and a higher risk premium, reflected in higher bond yields.

The impact of domestic factors on economic growth has been partially offset by improved global growth and commodity prices. Growth in household spending increased marginally to 1.1% in the first half of the year from 0.6% over the same period of 2016, Treasury said.

Expenditure on durable goods, such as vehicles and washing machines, contracted during the first half of 2017. A 2.1% contraction in real household disposable income in the first quarter was followed by growth of 4.5% in the second, supported by rising real wages.

Nominal year-on-year growth in employee compensation was 7% in the second quarter, with strong increases in general government services. High debt levels continue to constrain household spending. The ratio of household debt to disposable income was 73% in the first half of 2017, compared with 75% in the same period in 2016. Growth in household consumption expenditure is projected to increase to 1% in 2017, reaching 1.9% in 2020 as employment growth strengthens and confidence improves, Treasury said.

Source: South African Government News Agency

2 Somali Civilians, AU Soldier Die in Ambush

Two Somali civilians, an African Union soldier and four al-Shabab militants were killed in an ambush early Wednesday on the outskirts of Mogadishu.

Gunfire followed the explosion of an improvised explosive device that targeted an AU military vehicle, witnesses and officials said.

AMISOM spokesman Lieutenant Colonel Wilson Rono told VOA Somali a Ugandan soldier was killed and a second soldier was seriously injured in the ambush. He said AMISOM troops exchanged gunfire with al-Shabab militants, killing four of them.

Residents at Arbiska corridor said AU troops fired into different directions after the explosion.

Rono confirmed two civilians were killed in the gunfire. One was said to be a watchman, and the other was an English school teacher named Jafar Ali Mohamed, who also worked as a journalist for a local radio station in Afgoye.

Rono said he did not know if the bullets that killed the two civilians were fired by peacekeepers or by al-Shabab.

The National Union of Somali Journalists, NUSOJ, said Mohamed is the fourth journalist killed in Somalia this year.

Mohamed worked for Dayah (Moon) radio, an FM station based in Afgoye.

Source: Voice of America

Suspect arrested for rape in Putfontein

Today, 25 October 2017 at about 16:00, members of the Benoni FCS Unit arrested a 34-year-old suspect who had allegedly been raping an 11-year-old step daughter since 15 December 2013.

The victim’s ordeal had been narrated to police by one of her teacher who alerted the police. A case of Rape was immediately opened at Putfontein SAPS which led to suspect arrested.

The suspect is currently detained and will be appearing at court soon.

Source: South African Police Service

MILLIONS OF SOUTH AFRICANS ADVISED TO BE VIGILANT FOLLOWING DATA LEAK

JOHANNESBURG, Oct 25 (NNN-SABC) — Millions of South Africans have been advised to remain vigilant with their private information in the wake of last week’s data breach which hit the country.

An online leakage of sensitive information belonging to more than half the country’s population has raised questions around the vulnerability of South Africa’s information communication technology (ICT) following a report by an Australian web security expert.

The South African Banking Risk Information Centre (SABRIC) has also advised consumers to be cautions with their personal information.

The leakage has affected about 30 million registered users, whose personal information may be compromised. This has brought about fears that users of institutions such as banks may become victims of identity theft.

Hackers often target cyber space which can generate income for them and South African banks are constantly improving security features in order to protect consumers.

Vanessa, who did not wish to divulge her surname, says her account with one of the leading banks has been hacked by an American syndicate which used her banking details to shop online.

The SMS (short messaging service) worried me because I have never ever used Amazon before, so you see this notification of like it was a couple of hundreds (Rand) going off my account and I immediately thought something was wrong and I needed to phone the bank and they were very helpful as well and very sorry for what had happened and from there the investigation then carried on into how the person hacked my details and whether they were any other accounts they had hacked as well, she says.

Although a few hundred Rand were stolen from her account, Vanessa says she called the bank which then commissioned an investigation.

“They traced the payment to America, to Boston, where someone over there was using my account number and my card number to make purchases on Amazon so what actually happened was they had to cancel my card and block my account and all of that and then they sent me a fraud claim so I had to fill in the fraud claim form and then send it back.”

Banks are often on the lookout against any wrongful attempt to obtain credit information for users, otherwise known as phishing. Some criminal syndicates have figured out systems of penetrating some banking protocols. An anonymous source says she has inside information on how the alleged scammers operate.

They transfer money into your account, maybe let’s say they transfer like 50,000 Rand into your account and then they tell you that you need to have a pin code and a dongle and then you get the pin code and the dongle. They transfer 50,000 Rand into your account they tell you that by 12 o’ clock that account is going to be closed, and then take your card and the dongle. So what they do is they will get an alert that the 50,000 Rand has been transferred into your account they go to the ATM (to withdraw cash).

Source: NAM NEWS NETWORK