Africa – 29 January 2024

AFRICA

• Mozambique port expansion.  The Council of Ministers approved an extended deal for DP World Ltd, JSE-listed Grindrod Ltd, and other operators of its biggest port, including a $2 billion (around R38 billion) expansion that will further draw cargoes away from neighbouring South Africa’s creaking trade infrastructure. The group, which also includes Mozambique’s state-owned railway operator, won a 25-year extension to run the port in Maputo, the capital, ending in 2058. The agreement includes investments of nearly $1.1 billion by 2033 when the original concession was due to end. ` Capacity at the port is set to increase to 54 million tons per year by 2058, from 37 million tons this year, according to the extended concession agreement. That includes expanding a coal terminal in Matola, next to Maputo, to 18 million tons yearly, from 7.5 million tons. Annual shipping-container capacity will almost quadruple to a million units over the same period. (Read More Here)

• Multi-billion dollar oil refinery for Uganda. Uganda’s government is negotiating with an investment company led by a member of Dubai’s royal family to develop a $4 billion oil refinery. The United Arab Emirate’s Alpha MBM Investments LLC was chosen by Uganda from five companies that submitted bids for the project, Energy and Mineral Development Minister Ruth Nankabirwa told the BBC Newsday programme. The two parties are expected to reach a deal within three months. (Read More Here)