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Africa Focused News

19 Monday Aug 2013

Posted by theinvesmentman in 2013 West Africa Business Expo, ACCRA, Africa, African Economic Outlook, banks, Carrefour, CFAO, East Africa, ENI, Eurobond, First Quantum Minerals, Get rich quick, Ghana, Ghana Commercial Bank, Ghana Stock Exchange, gold, Government, Inflation, investment, Isuzu, japan, Kenya, Mine, Mozambique, Nigeria, Oil, Russia, Rwanda, South Africa, Tanzania, Uganda, uk, Uncategorized, Water projects, World Bank, Zambia, Zimbabwe

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REPORT OF LAST WEEK (from 12/08/13 to 16/08/13)
by Dario Galluccio – This Blog is sponsored by http://www.reflexecogroup.com

Zambia: ABB Wins $32 Million order to power Africa’s biggest copper mine
ABB, the leading power and automation technology group, has won an order worth around $32 million from Kansanshi Mining PLC, a subsidiary of Canadian mining and metals company First Quantum Minerals Ltd. (FQM), for the construction of a new substation and upgrade of an existing one. The facilities will help to provide reliable power supplies to Africa’s biggest copper mine, being built in the northwestern province of the country. The order was booked in the second quarter.
Global demand for raw materials is one of the main growth drivers in Africa. The Zambian economy is highly dependent on the copper mining industry, which accounts for around 80 percent of the country’s gross domestic product. The new copper mine will be the biggest of its kind on the African continent and will help reinforce the country’s number eight global position in terms of copper production. The mining project is also expected to bring employment opportunities in the Zambezi Basin area, with a completely new town being built to support it.

Ghana: 2013 West Africa Business Expo launched
The 2013 West Africa Business Expo to be held in Accra would on September 5th and 6th next month has been launched under the theme:’Kick Starting and Sustaining Business Growth’.
The organizers stated that their overriding objective is to drive growth in Ghana’s private sector by bringing together key industry players across a wide spectrum of the business environment in a bid to build networks and foster co-operation among participants.
The West Africa Business Expo 2013, will see banks, insurance companies, venture capital groups as well as institutions in the public sector such as the Registrar General’s Department, Ministry of Trade and Industry among others on exhibition.
Also, the Nigerian High Commission and the Togolese Embassy will be present at the event to offer participants information on viable business opportunities in their respective countries.
The event, which is also made possible by Geovision is the first of its kind in West Africa.

Tanzania: Japanese investment plan for the country
Tanzania could become a reputable business hub on the continent if the envisaged technical cooperation with Japan comes to fruition. An agreement signed recently prepares the ground for an economic boom.
The upgrading of the Central Railway line will be a major stimulus to economic prosperity. The railway, whose gauge will be expanded to international standards, will resume its role as the key link to upcountry regions. The Japanese support will also see the all-important Port of Dar es Salaam expanded. Naturally, this expansion will improve service delivery.
The Asian nation has also agreed to invest in cotton farming and make a rigorous revival of textile factories hence promote consumption of locally manufactured garments.

East Africa: New railway to connect Uganda, Kenya and Rwanda
Three East African countries Kenya, Uganda and Rwanda are implementing a joint $13b project for the Standard Gauge Railway (SGR) from Mombasa via Kampala to Kigali. The project, to be jointly financed by the three countries, is expected to be completed by 2018.
It will ease trade and reduce road traffic. Each member state will meet its loan liabilities differently. Eng. Abraham Byandala, the works minister said Kenya is already ahead of Uganda and Rwanda since they charge 1.5% of the railway cargo value for financing the project.
He said the preliminary designs for Mombasa- Nairobi (SGR) have been completed and the ground breaking is expected by November this year. The feasibility study and preliminary designs for the 511km Nairobi-Malaba section is being undertaken in-house by Kenya Railway Corporation strengthened by local experts and is expected to be ready by December this year.
Byandala said the designs for 250Km Nakuru-Kisumu is also expected by December 2013. For Uganda, the preliminary engineering designs for 250km Kampala- Malaba SGR is being undertaken by a consultant and is expected to be ready by October this year.

South Africa: Royal Bafokeng’s earnings soar
Royal Bafokeng Platinum (RBPlat) said its interim earnings soared on the back of weaker South African currency. JSE-listed platinum miner said headline earnings a share surged 103 percent from 43 cents to 87.2 cents in the six months ended June this year.
According to Reuters, mining companies gain from a shakier South African currency as they pay for costs in rands and sell output in dollars.

Mozambique: New railways will bring development to Mutarara
Mozambican President Armando Guebuza declared that the new railway lines that will cross Mutarara district, in the western province of Tete, will bring new socio-economic development to the area – but this will only be possible in an environment of peace.
Currently the mining companies export their coal along the Sena line to the port of Beira. But this railway cannot handle more than around six million tonnes of cargo a year, and within a few years it is hoped that up to 100 million tonnes a year will be exported from the Moatize coal basin.
One of the plans to diversify the coal export routes is to build a new line branching off the Sena line in Mutarara, and passing through Zambezia province to a new deep water port to be built at Macuse. Another line will cross Mutarara, and head through southern Malawi before it joins the existing northern railway to the port of Nacala.
These new routes, Guebuza said, will improve the situation in Mutarara, and the life of people living in the district who will be directly or indirectly linked to the major mining and transport projects.

Ghana: Carrefour CEO follows stock surge with African expansion
Pent-up demand from African shoppers has lured Carrefour SA to enter the region of a billion people set to grow at three times the pace of the U.S. next year. The Boulogne-Billancourt, France-based retailer, which spent much of the past two years exiting markets it failed to dominate, has partnered with distributor CFAO SA to open shops in eight African countries by 2015.
After the boom and eventual bust of the past three decades of retail growth (Carrefour had to pay 220 million euros ($294 million) to get out of Greece alone last year) Chief Executive Officer Georges Plassat chose a safer route for Africa by partnering with CFAO, a distributor and the continent’s biggest supplier of cars, trucks and pharmaceuticals. With the venture, he’s hoping to avoid the roadblocks competitors including Wal-Mart Stores Inc. have faced expanding beyond South Africa: a lack of distribution and available real estate.

Ghana: Jubilee partners export almost 19 million barrels of crude for half year
Oil firms operating on the jubilee field have exported almost 19 million barrels of crude Oil from January to June this year. The country’s share of these exports was however almost 2 million barrels. Ghana also earned 391 million dollars in terms of taxes and royalties from its share of the crude exports. The country on the average earned 98 dollars for each barrel sold in the second quarter, down from the 108 dollars secured in the first quarter of 2013.

Ghana: Government receives Eurobond proceeds
The government has received proceeds from the $1 billion Eurobond to facilitate the speedy implementation of projects and programmes under the 2013 budget.
The Minister of Finance and Economic Planning, Mr Seth Terkper, said the $102 million (GH¢204 million) allocated for counterpart funding would facilitate the disbursement for committed funds from the development partners for the implementation of existing projects.
The counterpart funding projects include the Afram Plains Irrigation Project; rice projects in the northern and southern parts of the country; rural electrification project – Self Help Electrification Project (SHEP 4) as well as the completion of the Bui Dam. Major road networks which are at various stages of completion will also attract part of the counterpart funding.
The minister said $307 million (GH¢614 million) had been earmarked for new projects in the 2013 budget, $250 million to refinance the 2007 bond while $341 million (GH¢682 million) for refinancing maturing domestic debts.

Nigeria: Dangote promises more investment
The president and CEO of pan-African conglomerate, Dangote Group, Alhaji Aliko Dangote has promised to invest and create more jobs opportunities in Nigeria. Dangote, who recently ventured into Nigeria’s petrochemical and agricultural sub-sector stated that the nation’s economy rests more on the shoulders of the private sector, and if more Nigerians were economically empowered through gainful employment, the poverty level would be reduced to a minimal level.
While speaking to a business group, the Africa’s richest man, Dangote said his venture into the petrochemical and agricultural sub-sector was his personal contribution towards reducing unemployment in the country.
Expressing optimism on Nigeria’s economic revival through the private sector, Alhaji Dangote reinstated: “I have always said that Nigeria is a good place to invest. We have all in abundance. God has blessed this country. What we have naturally in abundance is what other countries are looking for to buy. Good enough, Nigeria has the resources and the market for any company to survive, only in few other areas government should intensify efforts to ensure to make the sector attractive to investors”.

Nigeria: Britain will strengthen investments in Nigeria
The British Deputy High Commissioner to Nigeria, Peter Carter, said Britain would strengthen its existing investments in the country. Speaking during his visit to Guinness Nigeria Plc’s factory in Ogba, Ikeja, Lagos State, Carter called for closer business relationship between Nigeria and Britain.
While receiving the envoy, Mr. Babatunde Savage, Chairman, Guinness Nigeria Plc, highlighted that “Guinness is the biggest UK-parented Nigerian company quoted on the Stock Exchange, in terms of capitalization, turnover and profits and we are indeed very proud of our British heritage.”
The British Deputy High Commissioner commended Guinness Nigeria for sustaining the legacy of the parent company, Diageo by providing consumers in Nigeria with the quality and premium brands the company is known for worldwide. Guinness Nigeria Plc was established in 1950 and got listed on the Nigerian Stock Exchange in 1965. The company built its first brewery in Ikeja in 1962, and currently has facilities in Ogba, Benin City and Aba.

Ghana: GCB interest income rises by 41.5%
The interest income of the GCB Bank Limited rose from GH¢150.29 million in the first half of 2012 to GH¢256.76 million in the first half of this year, its half year results released last week showed. This represented a 41.5 per cent growth in the bank’s interest income over the six month period.
It further showed that net profit for the period increased to GH¢90.43 million compared to GH¢50.21 million recorded in period before.

Ghana: GOIL makes positive gains in first half
The half year results of Ghana Oil Company Limited (GOIL) released late July showed that the company made positive gains in the six-month period. GOIL, which markets refined petroleum products to players in the aviation, mining and transport sectors, recorded a pre-tax profit of GH¢8.16 million in the first half of 2013 compared to GH¢7.07 million posted in the same period last year. After a tax deduction of GH¢2.04 million, GOIL’s net profit closed the period at GH¢6.12 million, higher than the 2012 first half figure of GH¢5.30 million.
These positive showings were influenced by a 20 per cent rise in the company’s gross revenues for the six-month period. Its revenues rose from GH¢374.102 million in the first half of last year to GH¢472.96 million in the period under review.

Zimbabwe: Russian firms target Darwendale platinum
A consortium of companies including Russia’s Rostec and Vneshekonombank is buying a 40% stake in a project to develop one of the world’s largest platinum fields in Zimbabwe. The companies will invest in Ruschrome Mining, a Russian-African joint venture licensed to mine the field.
The parties hope to exploit the Darwendale platinum project’s 19 tons in proven reserves and 775 total tons of metals including palladium, gold, nickel and copper.
Ruschrome is partly owned by the Zimbabwean government and the Centre of Business Cooperation with Foreign Countries, an association of machinery and defence firms that will retain a ten per cent stake in the project.

Africa: Isuzu enters Africa with left hand drive
After covering 1.3 million kilometers of testing, mostly on the roads of the Eastern Cape, the new Isuzu left hand drive 4&4 and 4&2 was launched in the city of Port Elizabeth and expected to be roll out across the continent in the coming months. ‘This will obviously be in a staggered approach country by country but our anticipation is that we can grow a lot with this vehicle,’ ‘ according to Mario Spangenberg, president and managing director of GM Africa
Last year GM sold 180,493 vehicles on the continent, a growth in sales of 17.5 per cent from 2011. With new Isuzu product coming to market, General Motors is expecting exponential growth. GM spent R250 million (US$27 million) in setting up the facility and with all the vehicles the company turn out vehicles such as Chevrolet, Opel and Isuzu. GM has also invested R1 billion ($109 million) into their South African manufacturing facility in Port Elizabeth, where the new Isuzu pick-up will be assembled. In addition, the company has a manufacturing plant in Kenya, which builds Isuzu trucks and buses to supply the East African market, and one in Egypt, their second biggest African market after South Africa.

Ghana: Indices register more gains
The benchmark Composite Index (CI) as a result rose 30.47 points to close the last week (Friday 09/08/2013) at 1,965.55 points. This gain saw the year-to-date return of the CI improve to 64.65 per cent. The Financial Stocks Index (FSI) was also bullish as it jumped 36.44 points to close the week at 1,717.23 points. The return on the financial index stands at 66.22 per cent.

Ghana: Government will source cheaper funds for SMEs
Obtaining funds remains a big challenge for most SMEs in the country as most of them are not able to provide the requisite collateral for loans, while those who are able to do so get them at higher interest rates. The Minister of State in Charge of Public Private Partnerships, Mr Rashid Pelpuo, said the government would be financially innovative in finding cheaper ways of getting money for SMEs. According to Mr Pelpuo, the growth of an economy is in question if it cannot create jobs for its people, hence the need for investment by both public and private workers, adding, ‘It is through investments that you can create jobs.’
Meanwhile, the 2013 Budget Statement of Government hinted that it would revamp existing credit schemes alongside new schemes, such as the Youth Entrepreneurship Development Fund, to provide funds for start-ups and SMEs.

South Africa: Sibanye gold shares gain 7% on good results
The share price of gold miner, Sibanye Gold gaining 7 percent during early trade on the JSE.
This showed that the market liked the results which saw headline earnings for the six months to June surging to R880 million from R453 million during the previous reporting period.
The company said during the period under review it posted a 63 percent surge in operating profit to R3.3 billion ($363 million). This was despite a marked collapse in the price of gold since mid-April this year.
Neal Froneman, the CEO of Sibanye Gold, said the improved performance in the second quarter of this year had become evident even in the third quarter of this year. Froneman said the company has begun the process of containing falling gold production and was also managing high costs that have beset some of the company’s assets. He also said the company remained positive about the outlook of all operations.
Sibanye Gold is a South African gold mining firm consisting of three principal operations. These include Kloof and Driefontein in the West Wits region and Beatrix in the Free State Province. Sibanye Gold is one of the largest gold producers in South Africa and among the top 10 largest gold producers in the country.

Kenya: KWS launches Sh20 million Taveta Water Project
The Kenya Wildlife Service will launch water projects worth more than Sh20 million in Taita Taveta county. Speaking to the press at his Voi office, KWS assistant director, Robert Obrien said the projects will improve the livelihoods of communities in wildlife prone areas. “We want to ensure people get direct benefits from the wildlife resources around them and reduce poverty levels,”Obrien said. He said KWS is drilling a bore hole worth Sh4.2 million at Mwatate .
“We shall install a water pump and a generator. We are also undertaking a water project at Bura worth Sh1.3 million,” he said. Obrien said they have spent Sh6 million for a water project in Wundanyi constituency. He said other projects include rehabilitation of Mlughi water pipeline at Sh4 million and excavation at Kasighau for Sh4 million. Obrien said the projects will help encourage residents to protect the wildlife that is currently facing the challenge of poachers.

Ghana: To seek more concessionary loans
The Minister of Trade and Industry, Mr Haruna Iddrisu, has said the government is seeking for strategic investors, both locally and foreign, to partner and to finance some key projects in the country. The projects include infrastructure-energy, construction of health facilities in the Western and Central regions, building of commercial markets, reconstruction of the Ghana Trade Fair Centre, road construction in the Western and Eastern corridors, industrial zones (parks). Public, Private Partnership (PPP) arrangement to execute those projects since that formed part of the key policies of the government to get projects done faster.
Mr. Iddrisu said government will support foreigners who invest in Ghana to boost the economy and create jobs for the people.
He said the Government of Ghana is looking for concessionary loans to execute some projects, adding that the Public Private Partnership initiative will be pursued.

Ghana: To restore the Ghana Trade Fair Centre
The government is seeking strategic investors, both locally and foreign, to partner it to restore the deteriorating trade fair centre in Accra to its former glory.
According to the Director of Communication at the Ministry of Trade and Industry, Nana Akrasi Sarpong, the move forms part of the government’s Public Private Partnership programme
The Ghana Trade Fair Centre, the once magnificent edifice meant to host major local and international fairs has been left to rot, a situation which makes it unattractive and safe to host any major fair or exhibition. Built some five decades ago, the Centre, which is placed in the care of the Ghana Trade Fair Company under the Ministry of Trade and Industry, was meant to be a site to showcase the works of industrialists in the country as part of efforts to promote made-in-Ghana goods as well as serve as a platform for other countries, mostly from the sub-region to exhibit their products and services to promote the sub regional integration agenda.

Tanzania: CTI Nods to Japan plans for Dar es Salaam
The business community in Tanzania has welcomed the nomination of the country as Japan’s new investment centre to serve the East African region saying it is a real opportunity to transform Tanzania into an industrial economy. The Confederation of Tanzania Industries sees the new Japanese plan for Tanzania as consisting of abundant opportunities to boost the growth of local businesses and spur economic development of the East African country.
Japanese Minister for Economy, Trade and Industries, Toshimistu Motegi announced that his country had nominated Tanzania to be the centre for investment that will serve the East African region and the continent at large.
With the implementation of the plan, the CTI Chairman, Mr Felix Mosha, said the industrial contributions to the Gross Domestic Product (GDP) which is currently below 20 per cent would definitely go up to more than doubling. The industrial growth will be supported by the improved power availability.
The venture is meant to strengthen the economic base and creation of job opportunities. Among the projects lined up for implementation include refurbishment of the central line railway network which will be replaced with the international gauge and expansion of the Port of Dar es Salaam to help increase efficiency in service delivery.

Ghana: World Bank support vital for economic growth
The Vice President Kwesi Amissah-Arthur says the country’s economic growth can be linked to the tremendous support from the World Bank.
The Breton Wood institution over the years has assisted the country with funding and technical support for majority of government’s projects since country’s independence. Speaking at the opening of the World Bank Groups’ new corporate office in Accra, the vice president said the country could not have come this far without the bank.
“Ghana’s partnership with the World Bank Group has been long and fruitful,” Mr Amissah-Arthur said, noting that the IFC’s portfolio in Ghana, he learned, is the third largest in Africa, “that is something we are grateful for”.
The 28 million dollar structure would house the private sector arm of the World Bank, IFC and MIGA. Since joining the group in 1957 Ghana has benefited from close to 20 billion dollars.

Ghana: July inflation rises to 11.8 per cent
Ghana’s inflation rate rose to 11.8 per cent in July, compared with 11.6 per cent in June, Dr Philomena Nyarko, Government Statistician. Dr Nyarko said the July 2013 inflation main drivers were clothing and footwear, which were largely influenced by the cedi exchange rate.
Food inflation was unchanged at 7.3 per cent in July, same as in June while the non-food inflation ticked slightly higher at 15.4 per cent from 15.1 percent. Clothing and footwear contributed 18.1 per cent to the rate of inflation while miscellaneous goods and services added 17.7 per cent. Housing, water, electricity, gas and other utilities recorded inflation of 16.6 per cent whilst the communications sub-group had the lowest inflation rate of 1.3 per cent.
At the regional level, the year-on-year inflation rate ranged from 4.6 per cent in the Upper East Region to 15 per cent in the Western Region. Four regions namely Western, Ashanti, Eastern and Volta recorded inflation rate above the national average of 11.8 per cent.

Africa: Financial flows to Nigeria and others will hit $203.9 Billion in December
Financial flows to Nigeria and other African countries through external sources are projected to increase by 9.5 percent to a new record of $203.9 billion by end of 2013, compared with $186.3 billion in 2012. A report by African Economic Outlook disclosed this, adding that the expected increase would be boosted by projected contributions of remittances, Official Development Assistance (ODA) and investments respectively.
Emerging economies such as South Africa, Nigeria, Saudi Arabia and some Asian countries are predicted to grow much faster than the G7 – France, Germany, Italy, Japan, the UK, the US and Canada – over the next four decades.
Global economic turbulence, the report stated, still posed significant risks to the outlook for external finance of all kinds, resulting in scepticism from some investors in the West, stressing that uncertainty on the recovery might have a negative impact on trade and investment. This however has not had any major negative impact on investment projections for the continent.
A host of black nations have become home to some of the world’s fastest-growing economies and offers high returns on foreign direct investment among emerging economies.
While mining and oil remain the bigger businesses, telecoms, banking, and retail have become sectors that are also showing great promises bringing about an increase of investors worldwide who are vying for a piece of the action.

Ghana: Oil industry will yield $20b in 5 years
Public sector players in the minerals industry are meeting in Accra to find ways of reducing the impact of falling gold prices on the Ghanaian economy.
Organized by the Mineral Commission, the workshop is part of a series of brainstorming sessions to ensure that the economic shocks that come with falling gold prices – unemployment and revenue loss – have little impact on the Ghanaian economy. It brought together participants from the Minerals Commission, the Ministry of Trade and Industry, the Ghana Revenue Authority, civil society, and the Bank of Ghana.
After a rather interesting two years of soaring gold prices in 2011 and 2012, the price of the powerful metal has taken a nosedive in 2013, forcing the government to abandon proposed windfall taxes. Currently, gold is trading between $1300 and $ 1350.
With 2012 Ghana Revenue Authority figures showing a $5.6 billion in export revenues and a total foreign direct investment of more than $12.5 billion from 1983 to 2012, the mineral sector currently contributes 27 per cent of government’s revenue.

Kenya, Tanzania: Partnership to exploit geothermal energy
Kenya plans to partner with Tanzania in production of geothermal power in efforts to increase energy production in the East African region. A delegation of senior government officials and members of Tanzania’s parliamentary Committee on Energy and Mining has been on a one-week experiential visit on geothermal development in Kenya with the aim of understanding capacity building, licensing and how to attract investors for the partnership.
Tanzania, which has the longest rift stretch in Eastern Africa, has about 52 identified sites with a geothermal potential of 650MW that have not been fully exploited.
Tanzania’s commissioner for energy and petroleum affairs Hosea Mbise said the exploited energy in Tanzania is about 600MW, which is low considering that the demand of the resource is about 900MW. To kick off the project, the African Development Bank — key financiers of the Menengai Geothermal project — is sponsoring a few experts from Tanzania to train on geothermal science.
The key prospects of the project include Lake Ngozi, River Mbaka and Songwe around the Mbeya region.

Ghana: Eurobond proceeds rescue domestic projects
Seth Terkper, Minister of Finance, has stated that the partial use of Government’s bond issue proceeds to refinance maturing domestic debt will reduce reliance on the short-end of the market, especially for domestic capital projects. He said it could also reduce the long lead times being experienced in sourcing and implementing of some projects related to multilateral and bilateral funds.
‘In addition, given that access to concessional funds will dwindle as a result of the country’s attainment of a lower middle-income status, the tapping of the global bond market and provisioning for existing bonds will strengthen Ghana’s credentials as a regular and responsible borrower in those markets.’
‘Secondly, the availability of the Eurobond proceeds will speed up the implementation of development projects in the 2013 Budget. In particular, counterpart funding can be made available for previously approved projects to enable these projects to be completed.’
Mr Terkper said the early redemption of Ghana’s debut 2017 Eurobond will reduce the rollover risk of refinancing the entire $750 million bond when it matures in 2017.

Mozambique: ENI will pay $400m tax to Maputo
ENI, the Italian energy giant, on Thursday disclosed it will fork out $400 million to the Mozambican taxman. Paulo Scaroni, the CEO at ENI, reportedly said this money will be in the form of capital gains tax (CGT). He also indicated that the decision was made after a meeting with Mozambican President, Armando Guebuza, in Changara.
On March 13 this year, ENI had agreed to sell its 28.57 percent stake in Area Four to the China National Petroleum Corporation (CNPC) for $4.21 billion.
However, according to ENI, it was discovered in March this year that ENI was capitalizing on a seeming tax escape route and allegedly planned to avoid paying capital gains tax through this deal.
ENI is the leader of the a group of companies searching legally for hydrocarbons in Area Four of the Rovuma Basin in the northern province of Cabo Delgado, Mozambique. In this region, large amounts of natural gas deposits have been found. They reach some 80 trillion cubic feet.
ENI is the biggest utilities firm in Europe, with a diversified gas supply portfolio and a strong position in the industrial, power generation and retail markets. It is one of the largest integrated energy companies in the world, operating in the sectors of oil and gas exploration & production and international gas transportation. Eni is active in 90 countries with 78,000 employees.

Tanzania: TIC registers 106 projects in Kilimanjaro
Tanzania Investment Centre (TIC) has registered 106 projects in Kilimanjaro Region, between January 2008 and December last year, with a total value of 265.26 million US dollars, TIC Acting Northern Zonal Manager, Mr George Mukono revealed.
He said that the projects created 8,646 jobs and he mentioned the sectors involved: agriculture (11), commercial buildings (4), human resources (9), manufacturing (28), tourism (47) and transportation (7). According to Mr Mukono, the manufacturing sector employed 2,439 people, followed by the following sectors: agriculture (2,427), tourism (2,315), human resources (887), transportation (417) and commercial buildings (161).
He mentioned lack of water for agricultural activities and difficulties involved in acquiring water rights and scarcity of land for agricultural purposes as some of the challenges facing potential investors in Kilimanjaro Region. Other challenges include lack of industrial sites as well as real estate development sites, power rationing, lack of investment and reliable market and transportation of vegetable crops and flowers as well as other crops.

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Africa Focused News

29 Monday Jul 2013

Posted by theinvesmentman in Africa, banks, Get rich quick, Ghana, gold, investment, South Africa, West Africa

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Africa, Bank of Central African States, Burundi, Central Africa, East Africa, Ethiopia, Eurobond, Fina Bank, ghana, gold, Guaranty Trust Bank, Hilton, Kenya, Marriott, mines, Mozambique, Nigeria, Oil, Rwanda, Singapore, South Africa, South Sudan, Stanford Graduate School of Business, Starwood, Sub-Saharan Africa, Tanzania, Turkey, Uganda, West Africa, World Bank

REPORT OF THE LAST WEEK (from 22/07/13 to 26/07/13) 

by Dario Galluccio

West Africa: Sifca invests $417 Million for palm-oil expansion

Sifca Group, which owns Africa’s biggest palm-oil refinery located in Ivory Coast, plans to spend $417 million in the next five years on plantations and factories in Ghana, Nigeria and Liberia.

The company, which is also West Africa’s largest rubber producer, plans to boost palm-oil output 33 percent to 400,000 metric tons annually over the next four years.

Ghana: GTBank acquire 70% stake in Kenyan bank

Parent company of Guaranty Trust Bank (Ghana) Limited, Guaranty Trust Bank Plc has reached an agreement to acquire a 70 per cent stake in Kenya’s Fina Bank Limited for $100 million.

The new acquisition will increase the number of countries that GTBank has presence from seven to ten, since Fina Bank, headquartered in Kenya also operates in Rwanda through its 92 per cent owned subsidiary Fina Bank Rwanda Limited and in Uganda through its fully owned subsidiary Fina Bank (Uganda) Limited. GTBank currently operates in Ghana, The Gambia, Sierra Leone, Liberia, Cote D’Ivoire and the United Kingdom and the acquisition forms part of the bank’s strategy to increase its international footprints across Sub-Saharan Africa.

Ethiopia: Mines earn U.S. $593 Million revenues

The revenues of mines this year shows decrease by 61 million US dollar compared to earnings of same period last year. According to Sinkinesh Ijigu, Minister of Mines, the decrease is down to price of gold reduction in the global market, which causes companies in Ethiopia to hoard their gold mines.

Last fiscal year the country provided to the global market 12 thousand kilogram of gold, over 81 thousand tons of tantalum and over 25 thousand kilogram of gem stones among others.

Ghana: Stanford SEED West Africa Centre opens in Accra

The Stanford Institute for Innovation in Developing Economies (SEED) has opened its office in Accra. It is the first innovation centre in West Africa.

The Minister for Trade and Industry, Mr Haruna Iddrisu, expressed appreciation for the initiative undertaken by the Stanford Graduate School of Business, the alumni and foreign donors, noting that Ghana would be made a hub of private partnership investment, when the SEED project which primarily aimed to change lives and transform businesses in the country and the sub regions of West Africa took roots.

Central Africa: BEAC projects 6% growth rate in 2014-2016

The Monetary Policy Committee (CPM) of the Bank of Central African States (BEAC) is projecting a 6 per cent economic growth rate for the Central African Economic and Monetary Community (CEMAC) in 2014 to 2016. The Governor of BEAC, Lucas Abaga Nchama, who is also the Statutory President of the CPM made the disclosure last Friday July 19 during a press briefing that was preceded by the second ordinary session of the committee for 2013 at the BEAC’s headquarters in Yaounde.

The promising macroeconomic perspectives, Mr Abaga Nchama said, is based on the rhythm with which growth-induced projects are being executed in member countries. He said many giant projects in the mining, energy and infrastructure sectors are off the ground and raising hopes that upon completion, they would be able to fire the economies of the respective countries to boom.

Nigeria: State integrates infrastructure master plan to gulp U.S.$2.9 trillion

The federal government has said the implementation of a new blueprint on Nigeria Integrated Infrastructure Master Plan (NIIMP), would cost $2.9 trillion.

The Minister of National Planning, Dr. Shamsudeen Usman, stated the master plan had been designed to raise the nation’s stock of infrastructure from the current 35 to 40 per cent of Gross Domestic Product (GDP) to 70 per cent of GDP in 2043- that is, in 30 years. He also pointed out that according to the master plan, 48 per cent of the $2.9 billion would come from the private sector.

The NIIMP is a 30-year master plan for accelerating infrastructure development in the country. It focuses on core infrastructure, including energy (power and oil and gas), transport (roads, rail, ports and airports), housing, water and ICT. Other infrastructure classes include agriculture, mining, social infrastructure, vital registration and security.

The draft NIIMP contains a long term vision that sets the overall direction for the master plan and strategic objectives, such as per capita income and GDP growth. It also describes the overall investments required in infrastructure, over the next 30 years and contains a financing plan and sector and regional strategies, as well as a priority projects portfolio. As an actionable plan, the NIIMP also highlights enablers for implementation and an implementation plan.

East Africa: Delonex Energy will invest US$600 million

Delonex Energy Ltd, an energy sector company, plans to invest US$600 million in financing oil and gas projects in several African countries, including Mozambique.

One of the investment areas will be East Africa’s rift valley, which runs from the Red Sea through Ethiopia, Kenya, Uganda, Tanzania and Mozambique.

The main investor in this project is a consortium led by Warburg Pincus LLC, a private equity company, which previously financed Kosmos Energy allowing it to discover an oil field in Ghana.

Ghana: GPHA seeks 1.5 billion dollars for expansion

The Ghana Ports and Habours Authority, GPHA, requires $1.5 billion to expand the Tema Port.

The expansion, which is necessary to meet traffic growth, transshipment and transit demands will involve the dredging of the basin and access channel, construction of new break, dry and liquid bulk terminals and a new fruit container terminal among others. The proposed project is to be financed through commercial loans, government of Ghana funding and public-private partnership.

South Africa: Investec approves $813 million debt for renewables

Investec Bank Plc said it’s able to provide 8 billion rand ($813 million) in debt funding for clean-energy projects in South Africa as the country adds wind and solar output. The money would be used to finance plants in the nation’s third renewables bidding round.

South Africa, seeking to cut dependence on coal for power, intends to add 3,725 megawatts of renewable-energy capacity by the end of 2016 with five tenders. That may help state utility Eskom Holdings SOC Ltd. meet demand as it struggles to fund maintenance and expansion in the continent’s biggest economy. The second round attracted bids from Electricite de France SA (EDF), Tata Power Co. and Acciona SA (ANA). The deadline for submissions in the third is Aug. 19.

Investec has participated in about 20 billion rand of financing for South African clean-energy and renewable ventures so far, including 6.4 billion rand of debt.

Kenya: World Bank will finance Kenya, South Sudan road project

The World Bank has pledged to finance Kenya’s Lodwar-Nadapal link-road project to South Sudan, a key infrastructure that will boost trading activities between both nations.

In an official statement, the bank’s Lead Transport Specialist for Africa, Josephat Sasia, said the construction which is part of the Eldoret Napal 595-kilometre project embarked upon by the World Bank, will be administered by the Kenyan National Highways Authority as an initiative to improve Kenya’s infrastructure.

Sasai disclosed that the cost of the project is yet to be ascertained, pending the completion of designs – which is slated for September – but noted that the funds will be disbursed by the apex bank through its regional transport facilitation programme. He, also, expressed optimism over the quality and pace of infrastructural development in the country, stating that the economy stood a better chance of developing through infrastructural expansion.

Earlier this year, the World Bank partly funded a 960km stretch of road connecting the two East African states and has so far disbursed an estimated $1.2 billion for various infrastructural projects across the East African country.

Kenya: Boom for East Africa economy as Kenya removes roadblocks

The Kenyan government has removed roads blocks along its roads to Rwanda. The roadblocks have been a cause for delays when transporting goods to Rwanda. The presence of many traffic police officers in the over 25 roadblocks has also been linked to increasing bribery and other corrupt practices. The move is a boost to the East African common market which came into force in 1st July 2010. Known as The East African Protocol, the agreement was passed by heads of the five member countries; Kenya, Uganda, Tanzania, Burundi and Rwanda.

The removal of the roadblocks comes at a time when massive economic gains awaits the region with the discovery of oil deposits in Northern Kenya and Uganda. More gold deposits have also been discovered in Tanzania. Free flow of goods, labor, capital and services are some of the key pillars of a free market economy as envisaged in the East African Protocol.

Africa: Marriott, Starwood and Hilton increase their investments

Marriott International Inc. (MAR), Starwood Hotels & Resorts Worldwide Inc. (HOT) and Hilton Worldwide Inc. are turning to Africa, where a growing middle class and rising travel are fueling the fastest pace of hotel development in the world.

Marriott, that plans 3,900 rooms at 22 hotels, has increased the number of hotel rooms it plans on the continent by 55 percent from last year. For Starwood, which plans to increase its number of properties in Africa to 50 by 2016 from 38 today, the revenue per available room in Africa and the Middle East is the highest of any region worldwide, the average room rates were $209.87 in the fourth quarter. The high-end Transcorp Hilton Abuja, in Nigeria’s capital, commands some of the steepest management fees in the world for its operator, according to Lagos, Nigeria-based hotel-consulting firm W Hospitality Group, in fact in Abuja, a shortage of high-end hotels combined with rising demand allows Hilton to charge more than $400 a night for its rooms and lets the hotelier collect some of the highest management fees in the world.

Hotel investors and operators, finding growth slowing in mature European and U.S. markets, are expanding in Africa as the continent is buoyed by increasing trade with countries including China and rising demand for services such as lodging. More than half of Africa’s countries probably will post gross domestic product growth of 5 percent annually through 2016.

Ghana: GIPC targets huge investments from Singapore

The Ghana Investment Promotion Council (GIPC) is expecting high volumes of foreign direct investments (FDIs) from Singapore in the coming months, following recent increase in investor interest from that country in the Ghanaian economy.

The Chief Executive Officer of GIPC, Mrs Mawuena Adzo Trebarh, added that the investments were expected to go into light manufacturing, ports and logistics, agriculture as well as the ailing power sector.

Trade between Ghana and Singapore is currently around US$1 billion and FDI inflows amounted to US$250 million in 2012, information from the GIPC showed.

Mozambique: To invest up to $5 Billion in Rovuma Basin

The publicly owned Mozambican Hydrocarbon Company (ENH) plans to invest between 2.5 and 5 billion US dollars as it exercises its rights to participate in the Offshore Area 1 and Offshore Area 4 gas fields in the Rovuma Basin in northern Mozambique.

ENH has a 15 per cent stake in Offshore Area 1 (operated by the US company Anadarko) and a ten per cent stake in Offshore Area 4 (operated by the Italian company ENI). The latest estimate is that these two areas contain 170 trillion cubic feet of natural gas.

The economic model developed by the operators expects that the project will generate a total of 400 billion dollars. From this, the government would receive 119 million dollars from its share of production and from royalties.

Africa: Oil discoveries in East Africa attract West African banks

The recent discovery of substantially large amounts of oil deposits estimated at 2.5 billion barrels in Kenya and Uganda and has come as a shocker to the local banks which are now partnering with investors to exploit the liquid gold. There has been growing interest among investors especially from the West African banks and insurance companies in countries like Nigeria and Ghana. A similar interest in also growing in Tanzania following recent data published by the Ministry of Energy and Minerals on substantial amount of gas estimated at 33 trillion cubic feet. Gold has has also been discovered in the Republic of Tanzania.

South Africa’s banks and insurance companies had identified this opportunity a little more than three years back.

Insurance firms Ghana Re and Nigeria’s Continental Re have launched new wholly-owned firms in Nairobi in the past 12 months, paying more attention to the oil and gas sectors.

Ghana: BOST will build gas storage facility in Kumasi

The Bulk Oil Storage and Transportation (BOST) Company is looking forward to building a gas storage facility in Kumasi for power generation; there are also plans to build an oil pipeline from the Western region to the Kumasi oil depot as part of upgrade and expansion re-engineering to meet the energy needs of the country.

Uganda: exports hit $2.3billion

Uganda’s exports reached $2.3b (5.9 trillion) last year, up from $2.1b (sh5.4 trillion) in 2011, the executive director of the Uganda Export Promotion Board, Florence Kata, has said.

Top Uganda export markets include France for cotton and oil seeds, Sudan, Congo, Kenya, United Arab Emirates, Tanzania, Rwanda and Common Market for Eastern and Southern Africa (COMESA) partner states.

COMESA accounted for 46% of Uganda’s exports, while the East African Community market accounted for 22% of the total export earnings. Kata, however, said last year registered drops in export values for four important sub-sectors – coffee, fish, cotton and cocoa. She said the four sectors earned $590.7m in 2012, down from $678.7m in 2011.

She said that this drop in traditional exports can be attributed to a combination of factors, including the tough economic conditions in Europe, America and Asia which took a negative toll on the country’s exports.

Ghana: Turkish businessmen explore opportunities

A five-member Turkish business delegation which was in Ghana to explore investment opportunities has paid a courtesy call on the Minister of Trade and Industry, Mr Haruna Iddrisu in Accra.

The delegation also toured the Ghana Free zones area in Tema to explore opportunities in the construction, real estate, fertilizer production and manufacture of tomato paste and spaghetti sectors.

The leader of the delegation, Mr Suha Ozkan, who lauded Ghana’s political climate said they were determined to scale up trade between Ghana and Turkey.

South Africa: Union of mineworkers declared wage war

The National Union of Mineworkers (NUM), Solidarity and UASA on Wednesday, the 24th of July, announced that they had declared a wage dispute with the Chamber of Mines. The deadlock has been referred to the Commission for Conciliation, Mediation and Arbitration (CCMA).

NUM said the “dispute comes amid the Chamber of Mines ‘s gold producers having further insulted mineworkers by putting a 1 percent increase, taking their offer to 5 percent”, moreover NUM wants surface workers to earn a minimum of 7000 rand a month, and underground and open-cast workers 8000 rand a month.

Mining remains the backbone of the South African economy.

Rwanda: Government and UN Sign U.S. $400 Million deal

The government and One UN Rwanda have signed a five year agreement aimed at helping the country achieve the Millennium Development Goals, the Economic and Poverty Reduction Strategy (EDPRSII) as well as Vision 2020.

The assistance, worth of US$400 million (Rwf264 billion), is a mid-term strategy running until 2018 under the United Nations Development Assistance Plan (UNDAP), through which the organization seeks to consolidate its support to Rwanda’s development strategies.

The US$400 million budget will be financed through funds that UN agencies will invest from their core and non-core resources, as well as through mobilization efforts headed by the resident coordinator.

UN announced in 2007 that it would explore new ways of enhancing its efficiency at country level, naming Rwanda, Albania, Cape Verde, Mozambique, Pakistan, Tanzania, Uruguay, and Vietnam as pilots in its “One UN” agenda.

Tanzania: Uranium project will attract Sh1.6 trillion investment

The Mkuju River Project (MRP), a uranium mining project in Namtumbo District, Ruvuma Region, is expected to attract foreign direct investment (FDI) amounting to US$ 1bn (about 1.6trillion) over the project’s life. The project is owned by Mantra Tanzania and operated by Uranium One Incorporation.

According to the Chief Executive Officer (CEO) of Uranium One, Mr Chris Sattler, if all goes as planned construction of the project should begin in the next dry season and take two years to complete. Before construction can begin, a nine month detailed engineering and design programme must be completed; moreover he said that uranium produced by the project will be supplied to electrical utilities solely for the generation of electricity.

When operations at the MRP commence, Tanzania would become Africa’s third largest producer of the mineral after Niger and Namibia. Some 1,600 people are expected to be employed during construction and there will be 750 permanent jobs when the mine starts operations. There will be even more indirect jobs created by the Mkuju River Project over its life. At present there are 120 employees who are involved in exploration activities.

South Sudan: Ecobank opens an affiliate

Ecobank Transnational Incorporated, a leading pan-African banking group, has opened a banking affiliate in South Sudan. The new banking affiliate, the 34th on the African continent, offers the opportunity to support the youngest African state in addressing the challenges in regards to its development, the group said in a statement. Ecobank South Sudan started operations on July 10 and it offers the suite of products and services of the group to individuals, small to medium enterprises, multinationals and institutions.

The Togo-based Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 34 African countries, namely Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (DR) , Côte d’Ivoire, Equatorial Guinea, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan Tanzania, Togo, Uganda, Zambia, Zimbabwe.

Sub-Saharan: World Bank investment rises to $14.7billion

The World Bank Group’s financial assistance to sub-Saharan Africa rose by $2.5 billion in the 2013 fiscal year to a record high $14.7 billion. In a statement issued by the Group, its International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA) credits, grants, and guarantees to the region increased by $800 million from the previous year to $8.25 billion.

The International Finance Corporation (IFC) committed a record of nearly $5 billion for private sector development projects in sub-Saharan Africa, its preliminary and unaudited data released July 23, 2013 showed.

About $1.5 billion political risk guarantees were issued by the Bank’s Multilateral Investment Guarantee Agency (MIGA) for projects in the region during the fiscal year which ended June 30, 2013.

The World Bank’s support for developing countries was worth $52.6 billion during the fiscal year.

According to the information, IDA commitments during financial year 2013 reached a record $16.3 billion, IBRD’s commitments totaled $15.2 billion while IFC investments were nearly $25 billion.

The Bank Group’s political risk insurance arm, MIGA, issued $2.8 billion in guarantees during the fiscal year. This included a $500 million financial guarantee for Angola.

Despite the slowly recovering global economy, the World Bank Group indicated that it supported an estimated 1,956 operations across all sectors such as governance, infrastructure, human development and the private sector.

World Bank Group President Jim Yong Kim said “the Bank’s performance has been strong during my first year as President, and we are well positioned to address the economic challenges developing countries face during these still uncertain times.”

Ghana: Fan Milk sees 14% rise in profit

Ghana’s Fan Milk Limited revealed yesterday that its first-half net profit rose nearly 14 percent to 14.85 million cedis ($7.12 million) as against 13.05 million cedis ($6.3 million) a year ago on lower operating costs.

Earnings per share increased to 0.13 cedis from 0.11 cedis compared with the first six months of 2012. However revenue fell to 71.41 million Cedis from 73.31 million cedis, the company said in a filing with the Ghana Stock Exchange.

Fan Milk is Ghana is the leading producer of dairy products including ice cream in Ghana.

Fan Milk International, the leading manufacturer and distributor of frozen dairy products and juices in West Africa, was acquired last month by Abraaj Group. The deal, that is expected to close by November, implies Abraaj would also take majority stake in Fan Milk Ghana Limited. Apart from Ghana, Fan Milk International currently also operates in Nigeria, Togo, Ivory Coast, Benin and Burkina Faso.

The company, which started as a family business more than 50 years ago, currently sells over 1.8 million products daily across West Africa through its fully integrated regional manufacturing and distribution cold chain network.

Ghana: Eurobond oversubscribed by US$1.2 billion

Ghana’s second bid to raise US$1 billion from the international capital market to finance key development projects has been oversubscribed by US$1.2 billion. The first bond of US$750 million was raised in 2007 with a coupon rate of 8.5 per cent and a maturity period of 10 years.

This current bond of US$1 billion has a maturity period of 10 years, with a coupon rate of 7.875 per cent which will be paid semi-annually. The bond will be listed on the Ghana Stock Exchange (GSE) and the Irish Stock Exchange (ISE). This will be the first listing of a sovereign bond on a local stock market in sub-Saharan Africa.

The over-subscription shows the level of confidence the international financial community has in the Ghanaian economy. The economy, over the past year, has received positive ratings from international rating agencies. Moody Ratings rated Ghana B1; Standard and Poor’s B, while Fitch rated the economy B+.

The foreign lead managers for the transaction were Barclays Bank and the Citi Bank Group, while SAS and EDC were the co-managers.

Proceeds from the bond are expected to be used to finance infrastructure projects and restructure maturing debts and interest payments. They are also to be used as counterpart funding for capital projects such as the Atuabo Gas Processing project, as well as to finance capital expenditure approved in the 2013 budget, with priority given to self-financing projects such as ports and power projects.

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Gold Cliff or Gold boom

14 Tuesday May 2013

Posted by theinvesmentman in Get rich quick, gold, precious metals, Uncategorized

≈ 3 Comments

Tags

BRIC, China, Economy of the People's Republic of China, Emerging Markets, FAQ, gold, Gold as an investment, Gold reserve, Panic selling

Gold cliff

In recent days Gold has incurred another drop. Gold has fallen to below $1426 support levels. Trading most of today between 1423-1430 levels and may fall further. There many reason for this including drop of the Chinese economy, as many analyst blame the slowing down is one key reason for the panic selling over the past month.

Gold boom

Is expected to arrive in the next 6-12 months and the trading range for this boom is 1700-1800 Signs of a boom coming. Banks shadow buying gold at cheap levels. China and other emerging markets continue to increases their gold reserves. The set up up of new banks e.g. the bric’s “brazil, Russia, India, china, south Africa “bank.

Gold FAQ Is gold a smart investment?

Yes gold is tax free and is a good hedge against inflation.

Is there a gold bottom?

Gold is unlikely to fall below $1100 reason being as it becomes too expensive to mine the gold so it is likely for them to close mines if it falls below $1100. This intern will likely raise the price of gold.

When is the best time to buy gold?

If gold is trading between 1100-1600 this can be a smart time to invest.

When is the worst time to invest?

A strong $ means week gold.

What your advice?

As America looks to do more quantitative easing this will intern weaken the dollar.

Where can I invest in gold?

http://reflexecogroup.com/                                                                                                              http://www.bullionvault.com/                                                      http://www.investinmetal.co.uk/

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Precious Metals on a Zig Zag journey

10 Friday May 2013

Posted by theinvesmentman in Get rich quick, gold, investment

≈ Leave a comment

Tags

gold

Gold headed for the first weekly drop in three on concern that physical purchases may be showing as
investment holdings extend a drop. On the other hand Platinum and palladium headed for a third week
of continual gains.

In an immediate sense gold has not changed much, with $1,459.29 an ounce. Also in Singapore after
losing as much as 0.4% to $1,452.83. The price is 0.8% lower this week, and a decline today would be
fourth losing session.

Holdings in exchange traded products have lost 15% this year. Volumes for the benchmark cash contract
in Shanghai sank to 13,511kg according to Bloomberg. That’s the least since April 12, when bullion
entered a bear market. The price touched $1,321.95, lowest since January 2011.

Gold has a good run after prices collapsed and is consolidating in this $1,400-$1,480 region. A unit
of one of four funds in China created to buy bad debt from banks. The market needs both retail and
investment demand to come in strongly for prices to move back above $1,500.

Bullion traders and analysts are divided on whether physical demand will sustain the rebound in prices
as investors continue with sales from ETPs. Bloomberg staff expects prices to advance next week, while
10 forecast a drop and five were neutral.

Silver gained 0.2% to $23.789 an ounce, pairing a weekly drop. Platinum advanced 0.47% to $1,512.40
an ounce, while palladium dropped 0.3 percent to $707.55 an ounce.

Palladium deficit rose to the biggest in 11 years in 2012 as Strike action in South African mines curbed
supply and demand expanded. Platinum slipped into a shortage for the first time since 2004.

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What is full proof?

03 Friday May 2013

Posted by theinvesmentman in gold, precious metals, smart money

≈ Leave a comment

Tags

bonds, gold, invesments, stoks

Majority of investors decide to manage their money between bonds and stocks. General rule
with investors is that percentage of your portfolio which are bonds needs to equal your age. For
Example a 29 year old investor would be advised to have 29% bonds in his or her portfolio.

Typical scenario is that the older you get the less tolerant you become to risk. More aged you
become the less time you have to wait for your portfolio to recover. Secondly when you’re older you
may be more likely to need to spend the money you’ve invested and can afford to sell investments amid
a downturn.

Main reason investors would split their portfolio between stocks and bonds are a good strategy,
this has to with the fact that bonds have historically been much less volatile than most other
investments. Secondly with age saved income may need to be more responsive than usual.

Second section of spitting your portfolio between stocks and bonds is a good strategy has to do
with the act that bonds have historically been much less volatile than most other investments. Bonds
are much less risky than stocks. Compare the bond data with stocks. The standard & poor’s500 index
has posted an average annual return of 9.5% since 1928. On the other hand the risk of standard
deviation is much higher than bonds at 19.29% points. That means stock investors can expect to earn
anywhere between a gain of 28.8% or loss of 9.8% or something in between.

After it all the value of gold tracked by the SPDR gold shares ETF (GLD) is up 40.4%. Since 1979
the S&P GSCI Gold index returned 6.4% a year on average, according to data collected by Morningstar.

Gold has had some risk, or standard deviation, of 21.3% points, says Morningstar. Gold is 232%
more risky than bonds and even riskier than large US socks. Therefore shifting into gold for protection
can still have an element of risk in your portfolio.

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Gold, the Comeback Kid

23 Tuesday Apr 2013

Posted by theinvesmentman in banks, gold

≈ Leave a comment

Tags

get rich, gold, Gold as an investment, make money

Gold has resolved its value of above £918.33 an ounce, from last weeks battering which saw it drop to a
two year low of £866.51 an oz (8.1% in a week). Furthermore this recovery does not fill all investors with
confidence, because the ultra loose monetary policies of many of the world’s major central banks can be
foreseen as unstable, and potentially lead to inflation in the respected nation.

A perfect example of this is Japan. Who are conducting quantitative easing in attempts to reflate the
Japanese economy. Which over recent months has been responsible for weakening the yen and pushing
the country’s stock market sharply higher.

Secondly gold is making a bigger comeback from its south western neighbors, India. Asia in general are
witnessing one of the strongest waves of physical gold buying in thirty years, with the financial wizards
capitalizing on the drop of prices to secure jewellery and gold bars. It has also been reported that due
to the sudden rise in demand has left many Hong Kong’s banks, jewelers and even its gold exchange
without enough metal to meet demand.

The massive increase in buying across Asia contradict with sales report from last week, when plenty
of investors dumped billion dollars of gold related assets, yet a week later the more committed sales
people, such as Chow Tai Fook (biggest jeweler capitalist in Hong Kong) said that some stores in areas
popular with mainland Chinese tourists had sold out of gold bars. However Indian buyers had not
matched the levels of consumption of elsewhere in Asia as they waited for gold to drop below the key
local price point of rupees 25,000 per 10 grams.

Volume of the gold exchange jumped to a record high reaching 43 metric tones on the 19 th of April,
whole 12.6 tones more than April 19th 2012. Gold traders nonetheless reported stronger than usual
buying in India as bargain hunters feared that prices have bottomed and will start rising once again.

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There is a better place than home

22 Monday Apr 2013

Posted by theinvesmentman in bank of england, banks, george osbourne, Get rich quick, gold

≈ 7 Comments

Tags

earn money, GDP, gold, International, Investment, Portfolio diversificatio, savings, silver

 

 

As everyone is aware the domestic financial environment is going through a turbulent stage to say the least. Individuals who have got the disposable income to save are getting worthless return of investment from their respected banks, disregarding who they are, usually domestic.

Current UK banks are offering a maximum ROI of 1% at the moment due to inflation which is currently at 2.8%. So basically if you are receiving a return on investment of 3% and with inflation standing with a knife at 2.8% then it is clear to say a yield for someone accepting 3% I.S.A would see a real interest of 0.2%
The codes and conventions of investment is that a group of smart money find a cash cow nation, this previously was one of the “Bric” nations (Brazil, Russia, India and china ) reaching an average GDP of 8% in 2012, post economic pinnacle, a whole 8.5% more than uk’s depressing -0.4% GDP (2012).

The current hot cake regarding investment is new frontier emerging markets who continue to attract the attention of investors the world over. Emerging markets are those of lesser-developed countries, which are beginning to experience rapid economic growth and liberalization. Examples of these new emerging market countries include Ghana, Mexico, Singapore and Turkey; these countries are described by a growing population experiencing a substantial increase in living standards and income, rapid economic growth, and a relatively stable currency.

Often, emerging market countries impose strict limits on foreign investment in an attempt to limit foreign ownership of domestic companies. Investors may be prohibited from owning more than a fraction of any one company, and they may also be restricted from repatriating profits from investing activities which is why it is essential to use an experienced company.

Along with high potential returns, emerging markets also offer diversification benefits. Because these markets tend not to move in tandem with those of developed countries, they may be rising while other markets are falling. Hence, they can help reduce the overall risk of a portfolio. Based on these factors, many financial advisors recommend long-term investors allocate 3% to 10% of their stock portfolio to emerging markets, depending on their investment goals and tolerance for risk.**

**These allocations are presented only as examples and are not intended as investment advice. Please consult your financial professional if you have questions about these examples and how they relate to your own financial situation.

Investing In Emerging Markets: Offering an Opportunity for an Entry Path

Be aware that emerging markets in general tend to be volatile, sometimes even when no serious problem presents itself in a specific market. Investors in emerging markets are therefore advised to potentially reduce risk through diversification among many different markets, and to maintain a long-term view.

A good way for an individual to efficiently take advantage of emerging markets is through local Companies like London based Reflex Eco Group who have track record in dealing in these markets, with business opportunities concentrating on assets in these markets around the world or in a specific country or region. Some global and international bank funds tend to hold a small-medium percentage of their portfolio in emerging markets to capitalize on these gains.

Gold, Silver, International, Investment, savings, GDP, earn money, Portfolio diversification

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  • Nate Suppaiah on Emerging Markets (axial.net)
  • J.J. Zhang’s Winner Take All: The hidden risks of frontier-market investing (marketwatch.com)
  • Central Banks Want to Hold Emerging-Market Currencies (blogs.wsj.com)
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Not so Curious George

18 Thursday Apr 2013

Posted by theinvesmentman in bank of england, banks, george osbourne, Get rich quick, uk

≈ 1 Comment

Tags

ermerging market, George Osbourne, gold, infrastructure, investing, Investments, Oliver Blanchard, Property, silver

In recent time, like the previous couple of years has been depressing for the domestic economy.  Furthermore it has been stated that government plan to offer minimal support via funding.  This resulted in George Osbourne being put under pressure by the IMF (International monetary fund).  IMF is an organization created by all nations of the United Nations, and Republic of Kosovo.

George Osborne recently has been under a ton of scrutiny from rest of members due to plans of UK’s biggest growth downgrade of any of the developed countries in 2013/14. Chief economist for the IMF, Oliver Blanchard, believes UK’s actions and intentions are far too aggressive to mend the deficit reduction, and likely to get them in more trouble.

Secondly George Osborne resorted to a tired and tested response/technique as usual.  George Osborne new help to buy scheme will be introduced to complement the existing buy scheme.  Allowing all homebuyers rather than just first time buyers to take advantage of shared equity loans of up to 20% of new build home’s value, making initial deposits more tolerable. This scheme does have its positives allowing young individuals to get on the property ladder with more ease, and offering help for brand new properties valued up to £600,000, if they can put down 5% themselves.

Problem with this new property scheme is the interest rates of 0.5% base rate means the last property bubble hasn’t even properly burst yet, putting young buyers in a massive conundrum.

The national consensus on investments and finances within the UK is to pour money into the property market, which in an essence is not a bad idea due to the rise in population, and guaranteed demand. However in order to make money at a faster rate, and higher margins,  with far less risk, and less association with Banks, its recommended for investors to move towards emerging markets with lower economically developed countries whom are now having a shot at being more economically stable.

Therefore if the more developed countries are stepping away from development responsibilities,, it has fallen to the emerging markets to fund euro economy in order to get it out of the red.  This chain of events has resulted in Bank of England contemplating two plans of action to resolve Britain’s financial issues, one being investing 25 billion pounds of bonds. Majority of economists believe the central banks to restart asset purchases later this year in the face of a stagnant economy.

Ideally results from this action would be positive for the British public. Economists agreed to wait and show faith in recent economical actions, therefore leaving current interest rates at 0.5%.  Asset purchasing project is far from full proof also, experts have predicted more stimuli could exacerbate a recent upward drift in inflation expectations, as well as weaken sterling further.

Consequently why not invest in what the governments are relying on, emerging markets, such as gold, silver, and infrastructure projects in Ghana.  Same projects existent in Peru, Mexico and Singapore.  Variety of companies focus all business transactions into companies which are on the way up, just to get that head start when the economy finally gets back to normal.

Down but not down Forever

17 Wednesday Apr 2013

Posted by theinvesmentman in Get rich quick, gold, investment, precious metals

≈ Leave a comment

Tags

gold, Gold as an investment, Gold reserve, gold to go up?, invesments

As majority of us know Gold took a sharp drop, reason behind the cycle of events in a nutshell is the massive drop in shares, occurring after Friday’s initial gold share drop.

Second worrying fact is that the price of gold has not drooped this drastically for thirty years (February 1983).  Chain of events has affected a variety of investors disregarding their financial security. Best example of this is Gold Tycoon Paul Robinson, who is estimated to have lost hundreds of millions of dollars as the price of “metals” was sky rocking downwards

The price drop has caused uncertainty in a variety of forms, due to the low cash holding nation Cyprus considering selling a small amount, or all of its Gold reserves in order to improve economic standing.  Furthermore the low growth levels internationally, especially China. Slowing the rates of growth reduces the threat of inflation.

In my opinion I don’t believe investment into precious metals should be whipped out completely, but on the other hand new investors should hold out for a short time while Gold is in the bear market territory.  What story does this paint for a good investment broker? INVEST!

Large commodity conglomerate Saxo Bank believe the market is now in liquidation  mode as a people seek to reduce their exposure to the metal, but on the other hand they are still stating the commodity has a little more to fall prior to its increase.  Therefore it’s best to buy now while these large companies are short selling their product, and potential to earn some economies of scale at the same time also.

Secondly the speed of the market recovery depends on what stimulus was chosen to activate by central banks via quantitative easing. Quantitative easing is the process of flooding money into the economy by lowering interest rates encouraging consumers to spend rather than save.

Managing director of the world gold council Marcus Grubb believes that this low period for the commodity is only temporary, and supporting his argument with the demand of physical gold in fast developing countries like India where it is linked to all levels of society and culture, Secondly central banks will remain net buyers as long as Gold holds any form of value.

Second credible individual to support this thesis is Adrian Ash (Head researcher ad Bullion Vault) believes that it’s unlikely that gold prices would plummet despite the Fed’s smoke signals on ending quantitative easing.

‘Best Project’ in Bloomberg’s Excellence in Business in 2012 awards, mongolia Oyu Tolgoi (copper-gold)

04 Thursday Apr 2013

Posted by theinvesmentman in gold, investment, mongolia, precious metals

≈ Leave a comment

Tags

copper, gold, Investments, mongolia

Oyu Tolgoi is the world’s largest undeveloped copper-gold project and is located in the South Gobi region of Mongolia, approximately 550 km south of the capital, Ulaanbaatar, and 80 km north of the Mongolia-China border.

The comprehensive Oyu Tolgoi Investment Agreement took effect March 31, 2010, following confirmation by the Government of Mongolia that procedural and administrative conditions contained in the Investment Agreement had been satisfied within the allocated six-month period that has followed the agreement’s official signing in October 2009. The comprehensive Investment Agreement now has taken full legal effect.

On October 6, 2009, Turquoise Hill Resources and Rio Tinto signed a long-term, comprehensive Investment Agreement with the Government of Mongolia for the construction and operation of the Oyu Tolgoi copper-gold mining complex. The agreement creates a partnership between the Mongolian Government — which acquired a 34% interest in the project — and Turquoise Hill Resources, which retained a controlling 66% interest in Oyu Tolgoi. Global miner Rio Tinto, which joined Turquoise Hill Resources as a strategic partner in October 2006, is managing the development of Oyu Tolgoi.

Before investing in precious metals visit the site below
http://www.dummies.com/how-to/content/precious-metals-investing-for-dummies-cheat-sheet.html

keep up to date with metal prices:
http://www.cooksongold.com/metalprices/

references:

Investing in precious metals.

http://reflexecogroup.com/

http://www.bullionvault.com/?ref=G-UK-493-481-HP-S~investing%20in%20precious%20metals&gclid=CJuF0evmsLYCFXTMtAod8VMARQ

http://www.investinmetal.co.uk/

Related articles
  • ‘Best Project’ in Bloomberg’s Excellence in Business in 2012 awards, mongolia Oyu Tolgoi (copper-gold) (theinvesmentman.wordpress.com)
  • Rio says Oyu Tolgoi could start shipping this month (mining.com)
  • Mongolia downgrade bolsters Turquoise Hill in Oyu Tolgoi talks. Shares up 12% (mining.com)
  • Oyu Tolgoi CEO Says Funding Advanced; Mongolia Talks Constructive (emergingfrontiersblog.com)
  • Turquoise Hill Resources Announces Financial Results and Review of Operations for the First Quarter of 2013 (sys-con.com)
  • Why You Should Invest in Precious Metals (epicafinance.com)
  • Rio Tinto Expects Mongolia’s OK for Oyu Tolgoi Exports Soon (emergingfrontiersblog.com)
  • Turquoise Hill Resources Provides Oyu Tolgoi Update at Annual Shareholders’ Meeting (sys-con.com)
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