Zambia, Zimbabwe Court Investors to Revive $5 Billion Hydro Dam
Zambia and Zimbabwe are ramping up efforts to secure investment for the long-delayed $5 billion Batoka Gorge hydropower project, as they revive a controversial plan to potentially source water from the Democratic Republic of Congo.
The Zambezi River Authority — a joint venture between the southern African nations that maintain the Kariba Dam complex — formed a team that will court investors in the proposed 2,400-megawatt facility that lies near World Heritage site Victoria Falls, Chief Executive Officer Munyaradzi Munodawafa said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 hours ago
- Yahoo
MultiChoice Group Ltd (MCHOY) (FY 2025) Earnings Call Highlights: Strategic Growth Amidst ...
Release Date: June 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MultiChoice Group Ltd (MCHOY) achieved 3.7 billion rand in cost savings, surpassing their target and nearly doubling the previous year's savings. The company reported encouraging growth in new revenue lines such as DSTV Internet, DSTV 3, Kingmakers, and Showmax. Showmax saw a 44% growth in active paying subscribers, gaining market share despite initial challenges. The company maintained a healthy cash balance of 5.1 billion rands, with access to additional undrawn banking facilities. MultiChoice Group Ltd (MCHOY) is strategically positioned to benefit from the long-term growth potential of the African continent, with a focus on expanding streaming and interactive entertainment services. The company experienced an 8% decline in its linear customer base, with active subscribers dropping to 14.5 million. Foreign currency depreciation, particularly in Nigeria, led to a 5.2 billion rand currency impact on the top line. Showmax's growth lagged initial targets, and the company is critically reviewing its business plan due to slower than expected demand. The South African economy's challenges, including high unemployment and low economic growth, negatively impacted MultiChoice's discretionary services. The company's reported trading profit was materially down year on year, impacted by foreign currency pressures and investment in Showmax. Warning! GuruFocus has detected 8 Warning Signs with MCHOY. Q: How are you thinking about price increases across your customer segments for South Africa and the rest of Africa given the pressure you're seeing on the subscriber base? A: Our view is to align price increases with inflation. We believe there is good value in our product at various price levels. However, due to high inflation in many markets, we expect these increases to impact subscriber data. We are seeing stability in foreign currency, which should help consumers adjust to current pricing levels. Q: Can you explain the difference in decoder purchases between South Africa and the rest of Africa? A: In the rest of Africa, particularly Nigeria, we reduced subsidies to offset currency impacts and consumer distress. In South Africa, we are balancing economic outcomes while moving towards removing subsidies, especially with alternatives like DSTV stream available. Q: Can you provide insight into the cost trajectory for Showmax this year? A: There is an element of startup costs, with $70 million invested in platform development. The rest are ongoing costs. Subscriber growth hasn't met expectations, and we are working on initiatives to reduce costs materially. Price increases will depend on market take-up and competitor actions. Q: After increasing prices for Showmax, did you see any change in subscriber activity? A: The trend has been cyclical as expected, with no material change in subscriber activity following the price increase. Q: Can you expand on group subscriber trends and whether attrition will continue or stabilize? A: Year-on-year, this year is better than last. However, the end of the English Premier League season typically sees a decline. Higher decoder prices mean fewer subscribers, but those who pay tend to stay longer, which is favorable during this period. Q: What are the expectations for Showmax subscriber growth, and why hasn't it met initial expectations? A: Broadband pricing assumptions haven't materialized, slowing subscriber growth. Macroeconomic conditions have also impacted us. We are revising our business plan to align with market realities. Q: What is the status of regulatory approvals for the proposed acquisition by Canal Plus? A: We need approvals from several countries, and things are progressing as expected. We anticipate receiving the necessary support before the long-stop date of October 8th. Q: Why was the MultiChoice South Africa dividend reduced despite profitability? A: The macroeconomic situation necessitates a cautious approach to capital preservation and debt management. Despite cost reductions, the South African business has lost subscribers and revenue. We need to support the balance sheet and ensure long-term sustainability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
16 hours ago
- Yahoo
China to remove tariffs on African imports to boost trade
China says it will sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with – a move that could benefit middle-income nations as they prepare for tariff hikes on products entering the United States. The move, announced at a China-Africa co-operation meeting (FOCAC) in Changsha, central China, comes as the continent faces the possibility of increased tariffs on its products entering the US. The Asian economic giant already offers duty- and quota-free market access to least developed countries (LDCs), including 53 countries in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. Eswatini (formerly Swaziland) is the only African country excluded from the zero-tariff deal. It maintains diplomatic ties with Taiwan, whereas China regards it as a breakaway province. The timing of Beijing's decision is significant. In April, President Donald Trump announced high tariffs on its imports from many countries, including a 50 percent rate for Lesotho, 30 percent for South Africa and 14 percent for Nigeria. Read more on RFI EnglishRead also:China courts African allies as tensions with Europe, US deepenFrance pushing for 'China-EU leadership' on climate to counter US withdrawalKenyan president visits China as country pivots away from the US
Entrepreneur
18 hours ago
- Entrepreneur
Entrepreneur UK's London 100: Kunda Kids
Kunda Kids is reaching children in over 25 countries, with partnerships in education, retail, and media Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur United Kingdom, an international franchise of Entrepreneur Media. Industry: Publishing Founded in 2020 by husband-and-wife duo Oladele and Louisa Olafuyi, Kunda Kids was born out of frustration and love – the frustration of not seeing enough children's books that positively reflected African heritage and identity, and the love they had for their young son. What began as a passion project quickly turned into a publishing powerhouse, now reaching children in over 25 countries, with partnerships in education, retail, and media. This homegrown startup is redefining children's publishing through cultural relevance, tech innovation, and social impact. In a short space of time, it has become a voice for underrepresented families and a blueprint for mission-led entrepreneurship in London.
