Latest news with #África
Bloomberg
07-07-2025
- Business
- Bloomberg
Angola Raises Transport Fares Up to 50% After Diesel Price Hike
Angola hiked public-transport fares by as much as 50% after raising diesel prices by a third last week, the road transport regulator said. A ride in shared minibuses will increase to 300 kwanzas ($0.32) from Monday, compared with 200 kwanzas previously, while urban bus fares will rise 33% to 200 kwanzas, the National Land Transport Agency said in a statement on Sunday.
Bloomberg
02-07-2025
- Business
- Bloomberg
Mozambican President Sees Ongoing Security Risks at Total Gas Site
Mozambican President Daniel Chapo said his government and private companies will have to collectively ensure the necessary security is in place to enable TotalEnergies SE to restart construction of a $20 billion gas project that has stalled due to a militant insurgency — and even then risks will remain. The project in the northern Cabo Delgado province along with others that are at earlier stages of development are seen as crucial to the future of the southern African nation, which ranks among the world's poorest. The French oil major halted work, evacuated workers and declared force majeure in 2021 following an escalation in attacks by Islamic State-linked militants.
Zawya
18-06-2025
- Business
- Zawya
Acciona consortium lands Egypt wastewater treatment complex deal
Spanish infrastructure major Acciona has announced that its consortium with Egyptian company DHCU has secured the contract to provide operation and maintenance services for Phase II of the Gabal El Asfar wastewater treatment complex. The contract was awarded by Cairo-based Construction Authority for Potable Water and Wastewater (CAPW) for a eight-year period. The project scope includes rehabilitation works and upgrades on two plants of the complex, each with a capacity of 500,000 cu m per day. Gabal El Asfar is the largest wastewater treatment facility in Africa and the Middle East, and the third largest in the world in terms of treatment capacity, at 2.5 Hm³ per day. It serves the eastern part of Cairo which has a population of eight million people. Acciona said it has extensive experience in water treatment in Egypt. In 2013, it was awarded the contract for the design, construction and commissioning of an expansion of Gabal El Asfar, increasing its daily treatment capacity by 500,000 cu m. In 2022, the company, also together with DHCU, won the contract to carry out the operation, maintenance and improvement of Phase I of the oldest wastewater treatment plant (WWTP) of the complex, with a capacity of 1.5 Hm³ per day. The Spanish infrastructure giant has also worked, together with CAPW, on the operation of the water infrastructure for the upper-level water supply network in New Cairo, a satellite city of Cairo, located about 30km east of the capital. This contract includes the collection of water from the Nile River, its transport to a drinking water treatment plant and its treatment and subsequent storage before being supplied to consumers, said Acciona in its statement. The company has also been involved in the construction of five other drinking water treatment plants in the country -Almerya, Rod El Farag, Mostorod, North Helwan I and North Helwan II) - with a total treatment capacity of more than 600,000 cu m per day that can serve an estimated population of more than six million, it added.
Yahoo
16-06-2025
- Business
- Yahoo
Mozambique's Budget woes, debt and unrest may weaken the construction industry
The Council of Ministers of the Mozambique Government has approved the draft law for the Economic and Social Plan and State Budget (PESOE) for 2025 in late April 2025. The budget involves a total spending plan of 512.8bn meticais ($8bn) for 2025, marking a decline of around 9% from 567.9bn meticais ($8.8bn) in the 2024 budget. It also estimates a revenue collection of 385.9bn meticais ($5.9bn), marking an 11.9% growth from 344.8bn meticais ($5.3bn) of revenue collected in 2024. This represents a deficit of 126.8bn meticais ($1.9bn); this represents 8.2% of the nominal GDP. Moreover, the budget also includes a projection for the GDP to grow by 2.9% in 2025 with an average inflation of 7%. The budget is yet to be approved by the Assembly of the Republic. The budget is expected to boost growth in the construction sector, with the government announcing a 3bn meticais ($45m) from the Sovereign Fund in the 2025 Budget to finance projects included in the National Development Strategy (ENDE). This covers education, healthcare, water infrastructure, agriculture and transport infrastructure projects. 22% of the total fund will be allocated for the expansion and rehabilitation of the water infrastructure. 14% of the total fund will be allocated for improving health facilities, including vaccination for children under the age of one. 10.4% of the total fund will be allocated for the construction of 12 secondary schools and 7.6% for the construction of 214 primary school classrooms. 9.6% of the total fund will be allocated for equipping five technical and vocational education institutes. The Sovereign fund also outlines the government's target of building ten new dams, along with completing the construction of two feed mills in Niassa and Nampula and the installation works of two new cold storage warehouses in the industrial parks of Topuito and Beluluane. Furthermore, for bolstering the field of entrepreneurship, startup kits for 150 new businesses will be distributed mainly in the field of agricultural, mining, service and industrial sectors. The PESOE also includes the implementation of natural gas projects in the Rovuma Basin that will be undertaken by the French integrated energy and petroleum company TotalEnergies and Italian energy company Eni. This implementation is part of the government's projection of attracting $5.07bn of foreign investments in 2025, marking a growth of around 43% compared to that of 2024. However, this is still below 2021's level of $5.10bn. Notably, the budget got delayed amid a change in government and the post-election disruption. In December 2024, the Constitutional Council (CC) declared Daniel Chapo the winner of Mozambique's presidential election, who secured 65.17% of the vote and succeeded the outgoing President Filipe Nyusi, who received only 24% of the vote. This announcement sparked unrest across the country, mainly among the supporters of the opposing candidate. Demonstrators took to the streets, erected barricades, looted businesses, and clashed with security forces. The police responded with gunfire to disperse the crowds. In light of the political instability, in late December 2024, the Mozambican Government stated its decision to extend the 2024 State Budget on a provisional basis, with the 2025 budget expected to be approved during the first half of the year. The 9% reduction in the expenditure of the budget is attributed to the government's commitment to fiscal restraint following the post-election unrest and uncertainty in late 2024 that adversely dented the overall growth, economic activity and revenue generation. The expenditure plans outlined in the budget prioritised wages, which will constitute 14.6% of the GDP, including limited social transfers and security provisions. Also, the debt interest payments are projected to constitute 4.2% of GDP, which might pose challenges for public investments, as it might crowd out the spending on infrastructure projects. According to the latest projections released by the International Monetary Fund (IMF) in April 2025, the public debt in Mozambique is expected to rise to 101.1% of GDP in 2025 from 96.6% in 2024. The increasing debt-to-GDP ratio is attributed to investments in gas and hydroelectric projects. According to the IMF, the ongoing borrowing for the development of the liquefied natural gas (LNG) projects is projected to be covered by the natural gas revenues, but the country's ability to cover all other debt payments through revenue generation remains uncertain in the medium to long term. Furthermore, Fitch, the global credit ratings agency, downgraded the country's Long-Term Foreign-Currency Issuer Default Rating (IDR) in February 2025 to 'CCC' from 'CCC+', owing to weak public finances and rising debt. At the time of government financing needs, the unresolved political and social issues have hit the country's financial position in December 2024. The interest payment which Mozambique is incurring on its Eurobonds of $900m grew from 5% to 9% per year in 2023, increasing the total interest to be paid in a year from $45m to $81m and from 2028, the country is required to pay $250m till 2031. The increasing debt payments, coupled with political unrest, are expected to slow down the implementation of the ongoing and scheduled construction projects, thereby forming a downside risk for the construction industry. "Mozambique's Budget woes, debt and unrest may weaken the construction industry" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
16-06-2025
- Business
- Zawya
ACCIONA-led consortium awarded €35mln O&M deal for wastewater plant in Egypt
A Spanish-Egyptian consortium has been awarded a €35 million operations and maintenance (O&M) contract for Phase II of the Gabal El Asfar wastewater treatment complex in Egypt, the company said on Monday. The eight-year agreement was signed by Spain's ACCIONA and Egypt's DHCU with Construction Authority for Potable Water and Wastewater (CAPW) and covers rehabilitation and upgrade works at two treatment plants, each with a capacity of 500,000 cubic metres per day (m3/day). Gabal El Asfar, located in eastern Cairo, is one of the largest wastewater treatment facilities in Africa and the Middle East, with a total treatment capacity of 2.5 million m3/day. It serves the eastern part of Cairo which has a population of eight million people. In 2013, ACCIONA was awarded the contract for the design, construction and commissioning of an expansion of Gabal El Asfar, increasing its daily treatment capacity by 500,000 m³/day. In 2022, the ACCIONA-DHCU consortium secured an O&M contract for Phase I of the of the oldest wastewater treatment plant (WWTP) in the complex, which has a capacity of 1.5 million m³/day. Beyond Gabal El Asfar, ACCIONA has been active in Egypt's water infrastructure sector through partnerships with CAPW including operation of the upper-level water supply network in New Cairo from collection and transport of water from the Nile River for drinking water treatment to subsequent storage and suppy to consumers. The company has been involved in the construction of five other drinking water treatment plants in the country (Almerya, Rod el Farag, Mostorod, North Helwan I and North Helwan II) with a total treatment capacity of more than 600,000 m³/day to serve an estimated population of more than six million. The company also designed and commissioned the 5.6 million m³/day Bahr Al Baqr wastewater treatment plant in northwestern Egypt which supports agricultural irrigation. ACCIONA currently operates the wastewater treatment plants of Abnoub-El Fath (80,000 m³/day), Sodfa-El Ghanayem (30,000 m³/day), El Ayat (30,000 m³/day) and Abu Simbel (6,000 m³/day). (Writing by Majda Muhsen; Editing by Anoop Menon)
