South Africa: TNPA unveils $6.7mln multi-purpose vessel for Cape Town port
The new vessel, named Yarona, was officially christened during a ceremony at Damen Shipyards Cape Town on Monday. Designed to enhance port maintenance, environmental management and operational capacity at the Port of Cape Town, Yarona is set to bolster TNPA's marine services and pollution control operations.
Multi-functional vessel for port operations
Built by Damen Shipyards Cape Town, the 19.05m vessel features an all-welded steel hull and superstructure for durability in harsh harbour conditions. It has been purpose-built to perform maintenance dredging, remove debris, assist with quay wall repairs, support oil spill response, and carry out fender replacements and lighthouse maintenance.
"Our ability to deliver this vessel is a testament to our mission of building vessels in Africa for Africa. It underscores our commitment to localisation and supplier development, while contributing to job creation and skills development in the local maritime sector," said Sefale Montsi, director at Damen Shipyards Cape Town.
Infrastructure-led growth
Speaking at the christening, Transnet Group chief operating officer, Solly Letsoalo, said the investment forms part of Transnet's broader infrastructure-led growth strategy.
"At the heart of our Reinvent for Growth Strategy is infrastructure-led growth and a commitment to reliable and efficient operations across our operations. As Transnet, we remain focused on modernising our fleet and ensuring fit-for-purpose infrastructure to meet the needs of our customers and the broader South African economy," Letsoalo said.
The name Yarona, meaning 'Ours' in Setswana, was chosen by a TNPA employee through an internal naming competition.
Job creation and local impact
The project created around 18 job opportunities during its 14-month construction period, with a strong focus on involving individuals from previously disadvantaged communities, including youth and women.
Once operational, Yarona will employ three new TNPA crew members in addition to two existing crew from the previous vessel it replaces.
All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 hours ago
- Zawya
Tokyo International Conference on African Development (TICAD9): African Development Bank to focus on partnerships and investment at 9th Tokyo International Conference on African Development
The African Development Bank ( will participate in the 9th Tokyo International Conference on African Development (TICAD9) ( taking place in Yokohama, Japan from 20-22 August. This year's conference takes place at a critical time as Africa seeks to close investment gaps and build resilience to global economic and climate shocks. The African Development Bank stands as a key driver of this transformation for the continent, leveraging its leadership to mobilise international support, particularly from Japan. Co-hosted by United Nations, United Nations Development Programme (UNDP), The World Bank and African Union Commission (AUC), TICAD has been running for more than three decades since the first conference, TICAD I, in 1993. The forum has proved itself a solid catalyst to Africa's development agenda, mainly through grant aid and technical assistance. Among the delegates from the African Development Bank attending the conference are Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth; Solomon Quaynor, Vice President for Private Sector, Infrastructure, Industrialisation; Nnenna Nwabufo, Vice President for Regional Development, Integration and Business Delivery; Kevin Urama, Chief Economist and Vice President for Economic Governance&Knowledge Management, and several directors. Over the years, the African Development Bank's collaboration with Japan through TICAD, has evolved into a dynamic platform for development finance, knowledge exchange, and private sector engagement. Through programmes like the Enhanced Private Sector Assistance (EPSA) initiative, Japan's support to the Bank has resulted in billions in co-financing for African businesses and infrastructure as well as important support to capital replenishment. In addition, strategic partnerships with Japanese agencies such as Japan International Cooperation Agency (JICA), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI), continue to advance the Bank's High 5 development goals. These partnerships have supported transformative projects in energy, transport, health, and climate resilience across the continent. Enhanced Private Sector Assistance for Africa (EPSA) The Enhanced Private Sector Assistance for Africa or EPSA ( Initiative, is a framework for resource mobilization and development partnership to support the implementation of the Bank's Strategy for Private Sector Development. Drawing on successful development experience in Asia and around the globe, EPSA, which was conceived in partnership with the Government of Japan in 2005, consists of four main pillars: (1) Accelerated Co-financing Facility for Africa (ACFA), (2) Non-Sovereign Loans (NSL), (3) Fund for African Private Sector Assistance (FAPA), and (4) Private sector investment finance. An extension of the agreement - EPSA6 - is expected to be signed during TICAD9. Recognizing the private sector's importance in African development, the African Development Bank will host side events to encourage Japanese investment in key areas such as green hydrogen, Mission 300 ( transportation, health, agriculture, and education. The Africa Investment Forum ( a partnership of the African Development Bank and eight other institutions will also be promoted as an innovative investment marketplace for attracting capital for projects on the continent. During the Forum's Market Days held in December 2024 in Morocco, a special event raised awareness about Africa as an investment destination for Japanese investors. The Japan Special Room titled: 'Agricultural Innovation&Green Growth: Transforming Africa's Investment Landscape' was organized with approximately 100 participants, including representatives from Japanese companies, startups, and other public institutions. Accessing Resilient Energy for Africa On Tuesday, a day before the official opening of TICAD9, an event organized by JICA and other partners highlighted one of the continent's major challenges - the energy gap in Africa. Over 200 representatives from government, ministers and development partners attended the ' Harnessing Innovation, Co-creation, and Knowledge for Accessible and Resilient Energy for Africa," event, which was held in person and online. Without energy, the bedrock of infrastructure for crucial development cannot be realized. Yet persistent underinvestment in energy infrastructure is one of the continent's major hurdles, African Development Bank Director of Energy Financial Solutions, Policy and Regulation Department Wale Shonibare, who moderated the session said. Setting the stage for the conversation, he said Africa's 600 million people without access to reliable energy represent 83% of people with energy access lack globally affecting 2 out of 3 Africans. A further 900 million have no access to clean cooking, while Nigeria DRC, Ethiopia, Uganda and Tanzania together have half the population of no access, Shonibare said. Stressing the significance of TICAD as a platform to provide innovation and solutions through partnerships and investment, he noted: 'We see enormous potential in Africa's regional power pools…Today's session is both timely and catalytic.' The African Development Bank will organize several sessions covering a range of key development topics during the TICAD. Among these, two flagship events will be co-hosted in partnership with the Ministry of Finance. Further details on these events can be found below. High-Level Policy Dialogue: Harnessing the Potential of Africa (Link) ( Date: Thursday, 21 August Time: 10:00 AM - 11:30 AM (Tokyo time) Venue: S-01, Hall D, PACIFICO Yokohama&Zoom High-Level Business Session: Emerging Partnership between Japan and Africa (Link) ( Date: Thursday, 21 August Time: 12:40 PM - 2:10 PM (Tokyo time) Venue: S-01, Hall D, PACIFICO Yokohama&Zoom ( Learn more about the TICAD9 conference here ( Distributed by APO Group on behalf of African Development Bank Group (AfDB). Contact: Amba Mpoke-Bigg Communication and External Relations Department email: media@ Yuna Choi email: About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
10 hours ago
- Zawya
Egypt: Raya Holding posts 27.5% hike in H1-25 consolidated net profits
Raya Holding for Financial Investment generated 27.50% higher consolidated net profits after tax at EGP 971.67 million in the first half (H1) of 2025, compared with EGP 762.13 million in H1-24. Revenues amounted to EGP 27.77 billion in the six-month period that ended on 30 June 2025, an annual jump of 38.30% from EGP 20.08 billion, according to the financial results. Standalone Results As of 30 June 2025, Raya Holding turned into profitability at EGP 580.11 million, versus non-consolidated net losses after tax worth EGP 85.92 million in H1-25. Meanwhile, the standalone revenues hit EGP 1.24 billion in H1-25, higher than EGP 339.57 million in the same period last year. Earnings per share (EPS) stood at EGP 0.11 in H1-25, against a loss per share of EGP 0.02 in H1-24. Financials for Q2-25 In the second quarter (Q2) of 2025, the EGX-listed company recorded EGP 583.78 million in consolidated net profits after tax, up year-on-year (YoY) from EGP 384.25 million. Meanwhile, the revenues hiked by 54% to EGP 14.89 billion during April-June 2025 from EGP 9.67 billion in Q2-24. The company incurred standalone net losses after tax valued at EGP 476.85 million in Q2-25, compared to net profits of EGP 87.46 million in Q2-24. As of 31 December 2024, Raya Holding achieved consolidated net profits after tax valued at EGP 1.89 billion, an annual leap from EGP 563.88 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
10 hours ago
- Zawya
Egypt: Sinai Cement's consolidated profits hike 18% in H1-25
The consolidated net profits of Sinai Cement reached EGP 768.81 million in the first half (H1) of 2025, marking an 18.03% year-on-year (YoY) increase from EGP 651.31 million. Net sales jumped to EGP 4.01 billion as of 30 June 2025 from EGP 2.68 billion in H1-24, according to the financial results. Earnings per share (EPS) stood at EGP 2.08 in H1-25, compared to EGP 4.89 in the same period of 2024. Standalone Results In the first six months (6M) of 2025, the non-consolidated net profits rose to EGP 766.15 million when compared to EGP 658.62 million in H1-24. Meanwhile, the EPS retreated to EGP 2.07 in H1-25 from EGP 4.95 a year earlier. Financials for Q2-25 During the second quarter (Q2) of 2025, the EGX-listed firm achieved EGP 571.50 million in consolidated net profits, an annual hike from EGP 350.19 million. The company generated net sales totaling EGP 2 billion in April-June 2025, versus EGP 1.51 billion in Q2-24. The EPS declined to EGP 1.34 from EGP 2.63. In Q2-25, the company posted higher standalone net profits at EGP 571.90 million, versus EGP 355.84 million in the year-ago period. In 2024, Sinai Cement swung to consolidated net profits at EGP 3.07 billion, versus net losses of EGP 121.42 million in 2023. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
