Andrew Stegmann

Eritrea’s Mining Boom: It’s Going To Be Great For Job Creation, Eventually

The contribution mining will make to the Eritrean economy will be tremendous — at least that’s what’s being hyped.
The country’s economy is expected to get a boost when new gold, copper and zinc mines begin production. The government is banking on mining to provide much-needed jobs despite the commodity crisis, according to TheAfricaReport.vulkan-dallol-620x350
The Bisha copper and zinc mine is Eritrea’s first operational mine and the government hopes three more mines will jump-start the economy when they come online in the next two years.

Bisha has contributed more than $755 million to the Eritrean economy since it began production in February 2011, according to Nevsun Resources, the Canadian mining company that owns 60 percent of the mine.
The government says most of this revenue goes towards operating costs and debt repayments. Eritrea’s economy, meanwhile, struggles with diplomatic isolation, mass migration, and U.N. sanctions.

Source

Andrew Stegmann

Investing in property abroad

Cape Town – There is an increased appetite among South African investors wanting to diversify into safe haven markets, including the property sector, George Radford, international property investment firm IP Global’s director for Africa, told Fin24 on Thursday.

Radford said this trend has especially intensified over the last two years.

“Succession planning and retirement planning are becoming more and more important for these SA investors,” said Radford.

“Investor sentiment is undoubtedly dampened by the prospect of political uncertainty, which is why South Africans have historically favoured investing in safe haven markets.”

A survey by IP Global found that South Africans are most concerned about costs and currency fluctuations due to SA’s volatile economic climate.

The UK remains the most popular place for IP Global’s South African clients to invest, followed by Australia. The US and Berlin in Germany are other destinations the SA clients target, but not as often as the UK and Australia.

“The UK remains popular due to its historical ties with SA and the ease of investing. It is also a stable property market with a low risk,” said Radford.

IP Global is currently very active in the greater London area, but has also developed a focus on Manchester over the past 18 months.

Source

Andrew Stegmann

Malawi: Number of Mozambican Refugees Rise in Nsanje, Consulate General Visits Camp

Nsanje — This follows the killings of civilians who are suspected to be in support of the opposition party, RENAMO under the leadership of Alfonso Dhlakama.refugees

Speaking to the Malawi News Agency at Nsanje’s Dinde Primary School where the refugees are being temporarily sheltered, one of them, Thamanda Pensulo said they have spent four days walking from their home district of Mupeya in Zambezia Province to Malawi using unchartered routes.

“We have travelled by foot all the way from Mupeya district in Zambezia Province. Things are not that good in Mozambique as civilian people who are suspected to be royal to RENAMO leader Dhlakama are being killed by RENAMO forces.

“We thought of freeing ourselves as we feared for our lives,” said Pensulo.

Source

Andrew Stegmann

Zimbabwe: 21 More Repatriated From Kuwait

GOVERNMENT has so far managed to assist 21 women return from Kuwait and an equal number is being looked after at a shelter for run-away maids in the Arab country awaiting repatriation.zimbabwe_2272383b

The Ministry of Foreign Affairs confirmed the development yesterday.

But as Government is helping the Zimbabweans return home, it is feared 90 more could be on their way to Kuwait after being duped by unscrupulous agents to secure visas.

“The ministry has established that 165 visas were processed by unscrupulous Zimbabwean agents working in cahoots with registered Kuwait agencies. The Kuwait authorities have also stated that 90 of these 165 visa recipients have not yet entered Kuwait,” it said.

Source