Business News Report – February 2019
Every month Africa HR Solutions curates the latest high impact news across Africa. Check the top business news for January 2019.
The fact that 620 million people in Africa don’t have electricity provides Russia’s nuclear power industry with potential markets. Several Russian companies, such as Gazprom, Lukoil, Rostec and Rosatom are active in Africa.
Most activity is in Algeria, Angola, Egypt, Nigeria and Uganda. In Egypt, negotiations have already been finalised with Moscow for the building of the country’s first nuclear plant .
The French gas and oil company Total announced last week a “significant” gas discovery off South Africa’s southern coastline. Deep drilling in the Outeniqua Basin revealed natural gas deposits at depths of 3,633 meters (nearly 2.3 miles) beneath the ocean, known as the Brulpadda discovery.
Next, Total was will acquire a 3D seismic data before commercial drilling begins. Its licence allows it to establish four drills over the area close to where the Indian and Atlantic oceans meet.
Ghana recently welcomed box office stars, fashion royalty and top creatives. This is part of a focused and ambitious strategy to make Ghana a major tourist destination.
The country recently unveiled a 15-year-long tourism plan that seeks to increase the annual number of tourists to Ghana from one million to eight million per year by 2027.Ghana's travel industry is projected to raise $8.3 billion a year by 2027, plus associated benefits, according to the plan.
Basketball in Africa is getting a boost next year with the launch of the first NBA-affiliated regional league. The Basketball Africa League (BAL), a partnership between the NBA and the international basketball governing body FIBA, is set to tip off in January 2020 with a qualification tournament scheduled this year.
12 teams from 9 countries including Angola, Egypt, Nigeria, Senegal and South Africa are set to make up the league. A maximum of two teams will represent each country.
