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Project Halo puts forward winning R3.05bn bid for Tegeta assets
December 13, 2018

JOHANNESBURG – A South African consortium called Project Halo has submitted the winning bid of R3.05 billion for three major assets of Tegeta Exploration & Resources, the Gupta family-linked mining company under administration since February.

Project Halo will buy Optimum Coal Mine for a maximum of R2.8bn, Koornfontein Mines for R200 million and Optimum Coal Terminal for R50m, according to the term sheet.

Bouwer van Niekerk, a lawyer for the business rescue practitioners, confirmed the winning bid.

Optimum supplies coal to Eskom Holdings, the state-owned power utility at the centre of an official investigation into claims that members of the Gupta family used their friendship with former President Jacob Zuma and his son Duduzane to secure business contracts.

They all deny wrongdoing.

Glencore sold Optimum to Tegeta Exploration and Resources in 2015, and it was placed under business rescue after Eskom"...

December 13, 2018

JOHANNESBURG - The city of Cape Town has won the accolade for ‘Best City’ for the sixth consecutive year, while South Africa was voted second in the award for ‘Best Country’ at the recent Telegraph travel awards in London, the country's tourism agency said.

The"...

December 12, 2018

Egyptian e-health startup Vezeeta has raised $ 1 million in additional funding from IFC to add up to $ 12 million in Series C financing.

Started in 2015, Vezeeta provides patients with the ability to search, compare, book, and engage with"...


December 13, 2018

JOHANNESBURG - Comair Limited said on Wednesday a strike planned by ground staff affiliated to the National Union of Metalworkers of South Africa (Numsa) could not go ahead legally as the Commission for Conciliation, Mediation and Arbitration (CCMA) was unable to hear the dispute between parties until January 2019.

This is after Numsa announced that workers were preparing to go on strike at international"...

December 13, 2018

A leading African focused fashion and lifestyle e-Commerce platform, WAHOOH, has commenced operations in Nigeria with a media launch in Lagos.

By providing an online platform for fashion designers and consumers to engage in transactions and to collaborate, WAWOOH is set to facilitate growth in the Africa fashion industry.

Chief"...

December 13, 2018

Fitch Ratings has downgraded Diamond Bank Plc's Long-Term Issuer Default Rating (IDR) to 'CCC' from 'B-' and Short-Term IDR to 'C' from 'B'.

Diamond's National Long-Term Rating has been downgraded to 'B(nga)' from 'BB+(nga)'. A full list of rating actions is at the end of this rating action commentary.

The"...

December 13, 2018

Opportunities abound for Africa to engage in and benefit from e-commerce and the digital economy as the African Continental Free Trade Agreement (AfCFTA) comes into force, speakers said at an UNCTAD’s Africa eCommerce Week in Nairobi, Kenya.

The High-level Dialogue on Trade and the Digital Economy in Africa addressed challenges such as the persisting infrastructure gap and the digital divide, inadequate"...

December 13, 2018

Africa risks further marginalization if the region does not work to anticipating changes in the field of electronic commerce (e-commerce).

This is according to a panel held by Mr. Alioune Sarr, Senegal’s Minister of Trade, Informal Sector, Consumer Affairs, Local Product Promotion and SMEs.

The event, which was held this"...

December 13, 2018
(AETOS Wire) -- The Poseidon Foundation (“Poseidon”) is proud to announce its partnership with Redstone – the investment and strategy firm behind the Athens Alive regeneration project. Redstone and Athens Alive will integrate Poseidon's reduce platform into all phases of their €1.7 billion regeneration project, which will restore and expand the 2004 Calatrava-designed Olympic Athletic Center of Athens (O.A.K.A.). reduce leverages blockchain and AI technologies to empower consumers to effortlessly rebalance their carbon footprints in real time, at point of sale, by making micro-donations to forest conservation. reduce can also integrate into government and corporate structures, and its use in Athens Alive signals the world’s first city quarter development to transparently address the climate impact of its entire lifecycle. As an urban revitalization effort, Athens Alive will bring a new sports, entertainment and leisure hub to the 250-acre site......