Business confidence, which in essence refers to confidence among African business leaders about business conditions in the continent, had leapt more than six points in the fourth quarter of last year.

However, the index stayed largely unchanged during the first quarter of this year, moving down a third of a point to 67.3.

“The emergence of a new consumer class across the African continent is creating many exciting opportunities in the region, despite the unavoidable challenges that come from doing business in frontier markets,” said

Khutso Mampeule, chairman of South African-based Lefa Group Holdings, which chairs YPO’s Africa Region, attributed this sound business confidence to the emergence of a new consumer class throughout the continent.

“The emergence of a new consumer class…has created many exciting opportunities in the region, despite the unavoidable challenges that come from doing business in frontier markets,” Mampeule said.

Lefa Group is also a member of the YPO Johannesburg Chapter.

“Given the continuing inflows of foreign direct investment and the sub-Saharan GDP growth rates, it’s no surprise that Africa tops the list of the world’s most confident regions,” Mampeule was quoted as saying on Moneyweb.

It is understood that on a quarterly basis, the African region has constantly led the world in all but one quarter since the launch of the survey in July 2009.

According to the annual survey, developments in South Africa highly prompted the positive business outlook in Africa. South Africa has the highest weighting in the region’s index.

CEO confidence in South Africa crept up a third of a point in the first quarter of this year to 68.3. This is said to be its highest level since January 2010.

Meanwhile, according to the survey, Nigerian business confidence, which has the second-highest weighting after South Africa, sagged more than 4 points to settle in the low 60s.

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Westerwelle, who said this after a meeting with South African counterpart Maite Nkoana-Mashabane, indicated that it is “a strategic decision of the government in Germany to seek new opportunities in Africa, especially in South Africa.”

According to him, “We think Africa is a continent of opportunities.”

“We need investments. We need to trade and establish partnerships between equals. We need partnerships in skills development, vocational training, education and science.”, he added.

The minister who led a German delegation visited Ghana the previous week before coming to South Africa. The delegation will be heading to Mozambique from South Africa.

Westerwelle listed South Africa as Germany’s “most important economic and political partner” on the continent; adding that the European country was South Africa’s third largest trading partner, its second largest investor and its third-largest tourism market.

“South Africa is also an important partner to us in world politics. We followed with close attention the Brics (Brazil, Russia, India, China and South Africa) summit you hosted in March. It shows how the world is changing and there are new heavyweights like South Africa and we are seeking close co-operation.”

Germany’s FDI volumes into South Africa’s automotive, chemicals and mechanical and electrical engineering industries alone, besides others, reached R37.66 billion ($4 billion) between 2003 and 2012.

South African exports to Germany reached R37.9 billion ($4 billion) in 2012, while imports from Germany increased from R77.6 billion ($86.5 billion) in 2011 to R83.9 billion ($9.35 billion) in 2012.

“Last year, our trade was around 14 billion Euros [$18.3 billion] and over 600 German companies provide over 90,000 jobs in South Africa,” Westerwelle said.

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According to a Reuters report, a due diligence audit for the acquisition of Mansour Group’s Metro chain and discount grocery store, Kheir Zaman has been concluded.

Metro is one of Egypt’s largest supermarket chains with more than 40 outlets in 10 cities. Kheir Zaman is a discount goods retailer with over 2,000 employees and 30 stores across the country.

The Mansour Group’s retail business is said to be valued at an estimated $200 million to $300 million.

It is understood that the firms have decided to go ahead with the transaction and some smaller specifics are now being ironed out, sources that preferred anonymity said.

There has been a rising attention of Gulf firms in mounting their presence in the region’s most populous Arab country.

This is at a time when valuations have been very low-slung following the economic instability in North Africa.

Cash-rich Gulf investors also remain interested in growing their operations in Egypt.

Mansour Group, also the largest distributor of General Motors cars in Egypt, has been planning to dispose of Metro and Kheir Zaman since last year, according to Reuters.

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Adnan Ahmed Yousif, CEO of Al Baraka Bank, told Reuters in an interview that this five-year plan is also aimed at expanding its global footmark.

Al Baraka has ventures in the Middle East, Asia and Africa. Its goal is to grow group assets and income almost twofold in the next five years.

This five-year expansion plan will certainly include investments in Libya and Morocco, Yousif said.

The bank could splurge up to $100 million this year in Libya alone. In Libya, it launched a representative office in 2011.

This office “buys and converts” a conventional bank to Islamic finance, and, according to Reuters, it could ultimately build a network of 30 branches.

In Morocco, the financial services firm will launch a separate operation with a $100 million initial capital outlay within 12 months. This will broaden the group’s presence to 16 countries.

The bank is currently pondering the launch of an Africa-specific brand to sustain this endeavour.

“The group is seriously thinking about having an Al Baraka Bank Africa brand presence,” Yousif told Reuters in Dubai.

“A committee was set up last year to study markets to penetrate. We have eight African markets under study,” he said without naming these markets.

According to Reuters, the international strategy has allowed the bank to weather tough market conditions in its home base of Bahrain. Its assets there declined 16 percent in 2012, partly because of civil unrest and one-off transactions.

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Nigeria decided to partner Brazil on agriculture because of its growing global influence, which was due to its ability to feed itself and export to the rest of the world; a statement signed by the Director of Press in the Ministry of Agriculture, Idowu Jokpeyibo said.

The West African nation is also willing to commit to a mineral and metal exploration partnership with Brazil, world’s sixth largest economy; to strengthen trade ties and collaborate for the development of Nigeria’s minerals and metals sector.

Speaking at a business forum with some Brazilian investors, Minister of Mines and Steel Development, Musa Mohammed Sada, who was represented by the Permanent Secretary, Linus Awute, said Nigeria is blessed with huge deposits of several minerals like coal, bitumen, iron ore, gold, limestone, lead and zinc, which are open to local and foreign investments for strategic development of the nation’s economy .

“Government has repositioned the minerals and metals sector in line with the international best practices with the enactment of transparent laws, regulations and guidelines for the regulation of the sector; creation of a favourable fiscal regime that would be beneficial to the holders of the mineral titles, the government and the communities living on the land where minerals are exploited; setting up of institutional frameworks for the generation, storage and dissemination of geological and mining information; provision of transparency and access by the public to mining sector information; provision of clear safeguards for health, safety; and intergenerational equity with respect to the environment among others,” he said.

While noting that there are Brazilian companies already in operation in Nigeria; Brazil’s Director of the Department of Trade and Investment Promotion of the Ministry of External Relations, Rubens Gama said Brazil has the required technical expertise in agro allied industry and was ready to invest in the Nigeria’s economy.

The post Nigeria Wants Brazilian Investors To Invest In Agric, Solid Minerals Sector appeared first on Ventures Africa | .

Mr. Cilins, a French national is alleged to be a representative of mining company BSG Resources which is owned by Israeli billionaire Beny Steinmetz, a Swiss resident with dual Israel-French nationality. Cilins was arrested in Jacksonville, Florida, on April 14, 2013, with $20,000 in cash on him at the time.

A criminal complaint was filed in the Southern District of New York yesterday charging Cilins with tampering with a witness, victim or informant; obstructing a criminal investigation; and destroying, altering or falsifying records in a federal investigation.

The complaint alleges that Cilins sought to destroy documents including original copies of contracts between the mining company and its affiliates and the former wife of a now-deceased Guinean government official, who at the relevant time held an office in Guinea that allowed him to influence the award of mining concessions.

The contracts allegedly related to a scheme by which the mining company and its affiliates offered the wife of the Guinean official millions of dollars, which were to be distributed to the official’s wife as well as ministers or senior officials of Guinea’s government whose authority might be needed to secure the mining rights.

According to the complaint by the Justice Department, the official’s wife incorporated a company in 2008 that agreed to take all necessary steps to secure the valuable mining rights for the mining company’s subsidiary. That same contract stipulated that $2 million was to be transferred to the official’s wife’s company and an additional sum was to be “distributed among persons of good will who may have contributed to facilitating the granting of” the valuable mining rights. According to the complaint, in 2008, the mining company and its affiliates also “commit(ted) to giving 5% of the shares of stock” in particular mining areas in Guinea to the official’s wife.

BSG Resources which Cilins represents has been involved in a running battle with the government of Guinea over mining rights at the Simandou deposit and ties between the Guinean government and BSG Resources with its affiliates has been severely strained in recent months.

Mr. Cilins could not be reached for comments after news of his arrest and BSG Resources also declined comment on the news of his arrest. Damantang Albert Camara, a Guinean government spokesman said “We are aware that U.S. authorities have arrested an associate of Beny Steinmetz in the context of a corruption investigation, we will, however, wait for events to develop to have a clearer view and will give a more detailed statement at the appropriate time.”

When completed, the Simandou deposit will be the largest integrated iron ore mine and infrastructure project ever developed in Africa, with the potential to transform the Guinean economy and transport infrastructure.

The post US Arrests Associate Of Israeli Billionaire Frederic Cilins appeared first on Ventures Africa | .

“We’re seeing more customers every week,” said Mark Burns, president, Gulfstream Product Support.

“Our technical staff has serviced more than 40 aircraft since we began operations. We’re not just working on aircraft at the facility; we’re sending technicians on road trips to assist operators.”

Gulfstream is the first business jet manufacturer to offer factory service in China. The company made the investment because its fleet has grown to more than 105 aircraft in China and Hong Kong.

“The feedback from our customers in Asia has been very positive,” Burns said. “They appreciate us being here and the high standard of work we perform. It’s a win-win situation. We at Gulfstream understand their needs better by being near their base of operation. Our centralized support leads to lower maintenance costs for them and increased availability of their aircraft.”

Gulfstream Beijing is a joint venture between Gulfstream and two subsidiaries of Hainan Airlines Group, Hainan Aviation Technik (HNAT) and Beijing Capital Airlines Co. Ltd. (Deer Jet).

Gulfstream’s in-service fleet in the Asia-Pacific region, which includes Australia, India and Singapore, has grown from 27 aircraft in 2001 to more than 200 today.

Meanwhile, Gulfstream’s two newest aircraft are participating in the company’s static display at the Asian Business Aviation Conference and Exhibition (ABACE) in Shanghai.

This is the first time the G650 and G280 are part of an air show in China.

“We’re excited to bring the G650 and G280 as well as the G150, G450 and G550 to China for

our customers to see in person,” said Scott Neal, senior vice president, Sales and Marketing,

Gulfstream. “Bringing these five aircraft here demonstrates the commitment we’ve made to

China and reflects our belief in the strength of this market.

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The loan will support the construction of a new business hotel that will contribute to the revitalization of commercial infrastructure in Abidjan, the IFC said last week after announcing the investment.

According to the private arm of the World Bank Group, the project is expected to create 160 direct jobs amidst a time when unemployment is high in Ivory Coast following years of conflict.

In a statement, Atul Mehta, IFC Director for the Global Manufacturing, Agribusiness and Services department said “This investment meets two of our strategic goals: to boost African-grown businesses and to promote tourism in frontier markets, especially those affected by conflicts.”

“It will support the rebuilding of critical business infrastructure needed to further attract foreign investors in Côte d’Ivoire, after 10 years of conflict.”

Commenting, Mossadeck Bally, CEO of the Azalai Hotels Group said “As we expand our operations to Côte d’Ivoire, IFC’s loan will enable us to access long term finance, and we will benefit from IFC’s environmental and social expertise, including advice on green building.”

The project consists of developing and managing a four-star business hotel. The hotel facilities will also include restaurants, conference rooms, and parking. The targeted clientele consists mostly of African business travelers.

Azalai Hotels now owns and operates seven hotels across four West African countries, providing 700 hundred rooms, employing 650 staff, and operating a hospitality training academy.

The post IFC Invests $7.8m In Abidjan’s Azalai Hotels appeared first on Ventures Africa | .

BusinessDay quoted Nigeria’s Minister of Trade and Investment, Olusegun Aganga, who disclosed this on Tuesday in Abuja, as saying: “Nigeria and Qatar have concluded arrangement on the investment plan. Qatar is expected to invest $390 million in logistics and transport sector of our own economy.”

Aganga noted that the Nigerian government would implement economic measures beginning from the next fiscal year, to reduce the cost of cement in the country and escalate production.

“The Federal Government is making the move in fulfilment of President Goodluck Jonathan’s determination to make Nigeria one of the leading cement exporting countries next year,’’ he said.

He disclosed the new policies would ensure the imposition of a ban on cement importation, and the adherence of laws to plummet cement price in the country, which currently stands at about 1,600 naira ($10) per bag; a 200 percent inflation from its cost in 1999.

The minister said the paper work on the policy have been completed, adding that it is expected Nigeria’s construction industry would grow significantly as a result of the implementation of the policies.

Nigeria is one of the biggest cement producers in Africa, with Nigeria-based Dangote Cement rated as the largest cement producer in Africa with a market capitalization of almost $14 billion.

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Renault will sign an agreement for the construction of the factory with the Algerian state on Wednesday – with the state to hold 51 per cent of the installation, while 49 per cent will be owned by the French manufacturer.

This comes as President Hollande begins a trip to Algeria which will celebrate 50 years of collaboration between the two countries, with the President hoping to focus on the future expressing wishes of friendly relations going forward.

With completion of the factory billed for 2014, it is intended that once operational the factory – which is to be located at Oran – will have an annual output of 25,000 units, which it will eventually ramp up to a maximum capacity of 75,000 units.

Cars assembled at the factory will be based on the Renault Symbol model, a second generation model of the Logan series.

As Renault sees its European sales decline rapidly, it is focusing on expanding outside the European market; hence the push for a stable foot-hold on the African continent.

With Renault accounting for one quarter of cars sold in Algeria – the manufacturer having sold 111,000 units in Algeria in the first 11 months of this year – its prospects for success in the country are substantial, and Algeria may prove an appropriate starting block for the company’s African expansion. Estimates suggest that at its best, the Algerian market sees 450,000 vehicle sales per year.

With rivals Citroen and PSA Peugeot also performing well on the Algerian market, Renault may clinch a lead against the other producers by opening a factory on the ground, given that this should enable Renault to cut the production and by extension retail costs of its vehicles.

In further African endeavours, in conjunction with car manufacturer Nissan Motor, Renault is currently developing a recently launched $ 1.3 billion factory in the Moroccan port town of Tangier, with a view to selling vehicles back to Europe.

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