featured | Infrastructure news - Part 11

featured

Kobus Verster

Aveng CEO resigns with immediate effect

Kobus Verster, the chief executive officer, of South African construction firm Aveng will resign with immediate effect after the company reported a wider full-year loss the firm announced on Tuesday. “Eric Diack, current Executive Chairman, will...
BMW plant in Rosslyn

IFC signs $150 million loan agreement with BMW

The International Finance Corporation (IFC) has signed a $150 million loan agreement with BMW South Africa help build local capacity and support a stronger, diversified local economy. The IFC financing is part of R6 billion investment in a BMW...
NEPAD 5% Agenda Launch

NEPAD launches 5% Agenda for infrastructure finance

The NEPAD Agency officially launched its 5% Agenda initiative which aims to bridge Africa’s $68 billion infrastructure finance gap. The launch took place five years after a January 2012 African Union Summit adopted the Programme for Infrastructure...
Photo Karel Prinsloo Bloomberg via Getty Images

Shady crane tender lifts Transnet into the spotlight

Transnet’s controversial purchase of seven port cranes from a Chinese company has been described as “the most expensive crane sale of its type ever recorded” by an industry expert. Amabhungane and Scorpio reported on Monday that an agreement signed...