10 months ago

African Business 2022 Q1

  • Text
  • Africa
  • Wwwglobalafricanetworkcom
  • Sector
  • Geoscience
  • Renewable
  • Countries
  • Climate
  • Hydrogen
  • Exploration
  • Global
  • Lesotho
  • African
A unique guide to business and investment in Africa. The third issue of African Business marks a departure for this respected guide to business and investment on the continent. The first two journals were published in 2020 and 2021 but as of 2022, African Business is a quarterly journal. Every edition will carry editorial copy that will cover the following general topics, with a wide range of subjects within the broader economic sector: energy; mining and exploration; trade; finance; technology and tourism. In addition to this, special features on topical matters will be published periodically, along with country profiles.


COUNTRY PROFILE NAMIBIA Green hydrogen and renewable energy projects are attracting investors. NNamibia was one of the last African nations to achieve independence, primarily because South Africa hung on to control to use the nation as a buffer zone against anti-apartheid forces. In 1990 the Republic of Namibia was finally declared, barely two months after the speech in the South African parliament which freed Nelson Mandela and led to a non-racial and democratic South Africa. In a sense, Namibia’s freedom was a precursor to its neighbour’s. Germany seized control of what is now the port of Luderitz in 1884 and extened that control inland over a multi-ethnic population which included Ovambo, Kavango, Herero, Damara, Nama, Caprivian, San, Baster and Tswana peoples. Various rebellions were ruthlessly put down. Between 1904 and 1908 what is now accepted as the first genocide of the 20th century took place against the Herero, Nama and San. The German government agreed in May 2021 to pay €1.1-billion over 30 years to fund projects in communities that were affected by the genocide. South African forces defeated German forces in World War I and ruled the country under a League of Nations mandate. The United Nations for years tried to get South Africa to give up the country. The World Bank reports that Namibia has “achieved notable progress in reducing poverty”. A haul truck being repaired and serviced at Rossing Uranium Mine. Photo: John Hogg/World Bank Windhoek, Namibia’s capital city. Photo: John Hogg/World Bank Capital: Windhoek. Other towns/cities: Rundu, Walvis Bay, Swakopmund Population: 2.5-million. GDP: .4-billion. GDP per capita (PPP): 179 Currency: Namibian dollar, pegged to South African rand Regional Economic Community: Southern African Development Community (SADC), Southern African Customs Union (SACU). Landmass: 824 292km 2 . Coastline: 1 572km Resources: Large quantities of uranium and zinc. Also diamonds, copper, gold, silver, lead, tin, lithium, cadmium, tungsten, zinc, salt, hydropower, fish, milk, maize, beef, millet Main economic sectors: Diamond mining (alluvial and marine), other mining, meatpacking, fish processing, dairy products, pasta, beverages, tourism. Other sectors: Karakul sheep pelt exports (under the label Swakara) have recovered, although not to the very high levels of the 1970s. One co-operative sent more than 30 000 pelts to the Copenhagen Fur Auction in 2019. Possible deposits of oil, coal and iron ore. New sectors for investment: Green hydrogen, renewable energy. Key projects: A company has been appointed to build a green hydrogen plant. The US government has agreed to assist Namibia and Botswana in building a 5GW solar plant, with the African Development Bank, the International Bank for Reconstruction and Development, and the International Finance Corporation (IFC). The intention is to use both solar photovoltaic (PV) and concentrated solar power (CSP) technologies in what would be one of the biggest projects of its kind in the world. Chief exports: Copper, diamonds, uranium, thorium, gold, chemicals, fish. Top export destinations: China, South Africa, Botswana, Belgium. Top import sources: South Africa, Zambia. Main imports: Cars, copper, delivery vehicles, diamonds, refined petroleum. Infrastructure: Airports 112, of which 19 paved; railways 2 628km (2014); roadways 48 875km, of which 7 893km paved (2018). Electrification 57% (2019). Major seaports, Luderitz, Walvis Bay. Merchant marine, 14 vessels. ICT: Mobile subscriptions per 100 inhabitants: 102.1 (World Bank, 2020). Internet percentage of population: 42%. ICT Development Index 2017 (ITU) ranking: 8 in Africa, 118 in world. Climate: The Namib Desert, the oldest desert in the world, runs along the coast while the Kalahari Desert defines the country’s eastern border. The environment is protected in Namibia’s constitution and 14% of land is protected. Sparse rainfall, mostly hot and dry. Religion: Almost 98% Christian. 30 B

COUNTRY PROFILE LESOTHO A massive water scheme originates high in the mountains of Lesotho. Katse Dam, Lesotho. Photo: Lesotho Highlands Development Authority Basutoland was founded in the early 19th century by Moshoeshoe, who united various groups at a time of great upheaval arising in what is now KwaZulu-Natal. White farmers (Boers) escaping British rule in the Cape then threatened Basuto land. The British intervened, ostensibly to protect the Basuto people. The British drew the Warden Line, awarding the fertile Caledon River valley to the Boers and leaving the Basuto with little arable land. Years of conflict ensued, against both the British and the Boers until 1869, when the present boundaries were drawn and Basutoland became successively a British protectorate, a part of the Cape Colony (against its people’s wishes) and finally, in 1884, a British colony with traditional leaders retaining some power. In 1966 independence was achieved as the Kingdom of Lesotho, with Moshoeshoe II as king and Chief Leabua Jonathan as prime minister. Many modern residents live below the poverty line and the country’s HIV/Aids prevalence rate is high. Lesotho is, however, on course to achieve universal primary education and has one of the highest adult literacy rates in Africa. Sheep grazing. Credit: Lesotho Highlands Development Authority Capital: Maseru. Other towns: Teyateyaneng, Leribe, Mafeteng Population 2.2-million. GDP: .8-billion (2020). GDP per capita: 1 (2020). Currency: Loti Regional Economic Community: Southern African Development Community (SADC) and Southern Africa Customs Union (SACU) Landmass: 30 355km 2 . Coastline: Landlocked, surrounded by South Africa Resources: Water, clay, sand, building stone, diamonds, beef, maize, mutton, potatoes, wool. Main economic sectors: Textiles and garments, government, agriculture, handicrafts, tourism. Other sectors: Diamond mining, food and beverages, construction. New sectors for investment: Green energy, second and construction phases of the Lesotho Highlands Water Project (LHWP II) and the Lesotho Lowlands Water Development Projects (LLWDP -I and-II). Maseru district hospital. Road construction. Key projects: Lesotho Highlands Water Project is a multi-phase project being undertaken over many years. The Lesotho Highlands Development Authority coordinates those initiatives while the Lesotho National Development Corporation implements the country’s industrial development policies and has four strategic business units which relate to development finance, property development and management, investment and trade promotion and corporate services. Chief exports: Diamonds, clothing and apparel, low-voltage protection equipment, footwear, wheat products. Many Basotho work in South Africa. Top export destinations: United States, Belgium, South Africa, Switzerland. Top import sources: South Africa and China. Main imports: Clothing and apparel, delivery vehicles, medicines, poultry, refined petroleum. Infrastructure: Roads 5 940km, of which 1 069km paved; 24 airports, of which three are paved. Electrification, 36% of total population (2019). ICT: Mobile phone subscriptions per 100 inhabitants: 72.94 (2020 est). Internet percentage of population: 42%. ICT Development Index 2017 (ITU) ranking: 11 in Africa, 133 in world. Climate: Cold, dry winters and hot, wet summers in mostly highland landscape with plateaus and valleys. There are more than 300 named mountains in Lesotho, the highest of which is Thabana Ntlenyana at 3 482m. Religion: Christianity. 31

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