Page 6

6 \ News \ February 2013

www.GatewayToAfrica.com

NEWS AND ANALYSIS:

NEWS IN BRIEF Recent developments from Sub-Saharan Africa Gold Fields spin-off Sibanye Gold to sink or swim A new spin-off from Gold Fields, Sibanye Gold, has listed locally. Sibanye Gold, a new outfit created by Gold Fields, the world’s fourth largest gold mining company, has listed on the JSE and NY stock exchanges. Sibanye Gold will hold most of Gold Fields’ local South African assets, but uncertainty remains on the market as to whether these shares will do well following a calamitous year for South African gold mining. “Without a doubt everybody is speaking about the risk associated with mining in South Africa,” said Percy Takunda of Imara SP Reid, a Joburg-based brokerage firm. “American asset managers have very strict social mandates that they have to fulfil when they put in the money and many will not touch unionised companies or sectors.”

Why Nigeria sees soya beans as key to economic diversification With a series of multimillion-dollar investments already slated, 2013 seems to be the year that the agriculture sector helps Nigeria take a step towards economic diversification. The latest project is a $20-million soya bean production factory financed by the Nigeria-based company Karma Foods. The factory, which is planned to open by the end of 2013, will be located just a 30-minute drive away from Abuja International Airport. With a 75,000 metric ton processing capacity, the facility will be the largest soya bean processing plant outside of South Africa. And according to a spokesperson from Karma Foods, the company hopes the project will create tens of thousands of jobs along the soya bean supply chain throughout Northern Nigeria.

Gateway to Africa February 2013  

GatewayToAfrica.com is a multi-platform title for businesses looking to take part in expansion opportunities in Sub-Saharan Africa.

Advertisement