In The Spotlight
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Eswatini's first privately funded hydro plant, led by EIMS Africa, will generate 13.5 MW, powering 11,000 homes and boosting renewables. (Image source: Adobe Stock)
Eswatini has launched construction on its first privately funded hydroelectric power plant, marking a significant milestone in the country’s energy sector
Led by South African renewable energy firms African Clean Energy Developments and Energy Infrastructure Management Services (EIMS Africa), the project is set to supply electricity to roughly 11,000 homes. The plant’s first power generation is anticipated by late 2026.
Hydropower investment milestone
According to Michael Wickins, chief commercial officer at EIMS Africa, the project’s procurement process dates back to 2004. Large-scale infrastructure projects of this nature typically take six to eight years to complete, and this initiative faced additional complexities as Eswatini’s first privately owned hydroelectric plant and EIMS Africa’s initial venture into hydropower.
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ITS sites will optimise traffic flow and alleviate congestion using advanced monitoring tools and AI-powered traffic solutions. (Image source: Adobe Stock)
Lagos State has collaborated with Huawei Technologies to establish four new Intelligent Transport System (ITS) sites at key locations, aiming to enhance traffic management and road safety
These ITS sites will optimise traffic flow and alleviate congestion using advanced monitoring tools and AI-powered traffic solutions.
According to Nairametrics, the initiative will improve road safety for both commuters and pedestrians through the deployment of Automatic Number Plate Recognition (ANPR) cameras and Traffic Management Solution (TMS) devices.
This development aligns with Lagos' broader smart city vision, utilising cutting-edge technology to enhance urban mobility and ease traffic congestion.
By providing real-time traffic updates, the ITS deployment is set to benefit daily commuters by enabling better route planning and reducing travel time.
Smart traffic innovation
Logistics firms will experience more predictable transit schedules, increasing operational efficiency and cutting costs. Businesses, in turn, will benefit from improved delivery punctuality and enhanced employee commute reliability, boosting productivity.
Huawei's involvement in this initiative is part of its wider strategy to expand its footprint in Nigeria’s technology and infrastructure sectors.
In August 2024, Huawei Nigeria Digital Power unveiled its latest innovation in the commercial and industrial (C&I) solar market—the 150K series inverter. This cutting-edge solution is designed to enhance business energy efficiency by providing reliable and sustainable power options.
Previously, in 2022, Huawei partnered with the Lagos State government to build a high-speed wireless government campus network using its AirEngine Wi-Fi 6 technology. This improved operational efficiency and facilitated Lagos' digital transformation.
Huawei has also introduced a local cloud service in Nigeria, reducing data latency and ensuring compliance with data protection laws. This move offers Nigerian businesses faster and more reliable cloud access, benefiting startups and SMEs that rely on cloud-based solutions.
These initiatives emphasise Huawei's commitment to Nigeria’s digital transformation and infrastructure growth. The company's expanding presence highlights its role in driving technological advancement and improving public services.
The collaboration between Lagos State and Huawei in deploying Intelligent Transport Systems represents a major milestone in the city’s smart city journey. Through advanced technologies, Lagos seeks to create a more efficient, secure, and sustainable urban environment for residents and businesses alike.
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Liquid cooling solutions have become essential for maintaining operational stability. (Image source: Vertiv)
Vertiv, a global leader in critical digital infrastructure and continuity solutions, has introduced Vertiv Liquid Cooling Services to enhance system availability, improve efficiency, and help customers manage the complexities of advanced liquid cooling systems
This service is now accessible worldwide
After working with early adopters in various regions for over a year, Vertiv has refined best practices and gained valuable insights, allowing for the global expansion of its liquid cooling service offerings. This experience ensures a proven and mature approach, delivering expert support to data centre operators worldwide based on real-world applications and success.
As AI workloads drive higher rack densities—now averaging 30 kW, with some exceeding 120 kW—data centres are experiencing greater heat loads and power demands. In response, liquid cooling solutions have become essential for maintaining operational stability.
Why liquid cooling now?
“The increasing reliance on liquid-cooled AI servers necessitates a comprehensive approach to lifecycle management,” said Sean Graham, research director of cloud and data centre at IDC. “Given the complexities inherent in these cooling ecosystems, a robust support programme is not merely advisable, but a best practice to ensure both system availability and long-term operational viability.”
Vertiv Liquid Cooling Services integrates liquid cooling solutions seamlessly with IT infrastructure, covering expert installation, commissioning, and ongoing maintenance. The service prioritises fluid management, system cleanliness, and the prevention of air ingress—crucial for ensuring reliability. Given the unique challenges of liquid cooling for AI applications, traditional maintenance approaches are insufficient. Vertiv applies decades of industry expertise to deliver best-practice preventive and condition-based maintenance, ensuring optimal system performance and uptime.
The service includes a comprehensive suite of solutions tailored for AI-driven and high-performance computing environments, ensuring long-term reliability and operational stability. Vertiv’s certified technicians and field engineers provide expert support at every stage, ensuring the efficiency of cooling loop fluid systems and heat rejection components.
Key service offerings include:
- Startup & Commissioning Services – Address potential issues proactively to prevent installation-related delays and ensure seamless system deployment, while verifying the quality of all connected equipment.
- Spare Parts Availability – Rapid access to replacement components to enable faster repairs and minimise downtime.
- End-to-End Lifecycle Support – Digital and proactive maintenance for long-term system reliability, with detailed documentation of the secondary fluid network to support ongoing system health.
- Comprehensive Fluid Management Services – Ensuring optimal coolant quality through sampling, laboratory testing, contamination prevention, and responsible disposal, enhancing resilience and efficiency.
- Emergency & Preventive Support – On-site and remote emergency response teams diagnose and resolve issues swiftly, reducing downtime and restoring operations efficiently
Vertiv Liquid Cooling Services is supported by the Vertiv Global Services network, offering project services, product support, testing, and training across its portfolio. With over 240 service centres, 3,500+ field engineers, and 190+ technical response specialists, Vertiv delivers expert support across multiple regions.
Also read: Raxio’s DRC data centre lands prestigious certification
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In the final webinar of its African Review-hosted 2023 campaign, Convergent Group explored its modern, eco-friendly concrete solutions for African projects
Such solutions – delivered to cut maintenance costs by eliminating hazardous silicate products – were showcased by company experts in the form of Jean-Claude Biard, SEO of Convergent Group SA; Mputu Schmidt, former CEO of Convergent Group SA and founder of Bondeko MB (exclusive distributor of Convergent Group in Africa); Carlos Garcia, technical and sales for ADI Group (Spanish distributor for Convergent Group); and Amritpal Singh Sura, external consultant for flooring treatments, former distributor of Convergent products in the Middle East.
“A number of projects we were doing in the Middle East required protection,” remarked Sura. “Longevity of protection requires a system which basically impregnates and becomes a densified surface as opposed to something which is topical and lifts off due to moisture migration. I found that being exposed to Convergent, it was important to stay focused on those systems in the Middle East. Jean-Claude, Mputu and I met several times in Dubai and there was emphasis on providing systems which were affordable and still ending up having a robust, lasting longevity of product. So you are not spending money all the time in order to maintain the finishes which you have already paid for.”
Over the course of the session, the participants guided the audience through the potential of cutting-edge lithium silicate technology for enhancing the protection of concrete surfaces, maximising cost-effectiveness and meeting sustainability targets.
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In a comprehensive webinar hosted by African Review, a panel of professionals associated with Convergent Group explored new generation lithium silicate technology and why it is emerging as the optimum solution for concrete floor protection.
Robert Daniels, editor of African Review, was joined by Jean-Claude Biard, CEO of Convergent Group; Mputu Schmidt, former CEO of Convergent and founder of Bondeko MB, an exclusive distributor of Convergent; Hicham Sofyani, president of Texol; Carlos Garcia, technical and sales for ADI Group; and Marc Puig, commercial manager of Comace Import.
Each providing a unique angle, the panellists combined to provide a masterclass around concrete treatments and the increasing challenges around them, explaining to attendees how to choose the right formula for their requirements and touching on issues such as why lithium densifiers are better than sodium and potassium densifiers.
Throughout the session, those watching were treated to informative case studies showcasing how Convergent eco-friendly products are increasing abrasion resistance, raising ease of maintenance, and ensuring the highest quality gloss retention.
By the end of the webinar, a majority of attendees (many of which had not had much experience with Convergent) expressed their interest in using the company’s new generation lithium silicate technology with the rest indicating their desire to learn more about Convergent and its products. Watch the webinar, in full, to discover why viewers were convinced and learn more about advanced floor care solutions for your operations.
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Presenting on an African Review-hosted webinar, Martin Provencher, global industry principal for mining, metals and materials at AVEVA, explored the digital transformation of mining operations and its impact on sustainability.
“Sustainability is becoming a key aspect for mining operations,” remarked Provencher. “If we look at the latest EY research on the top ten business risks and opportunities for mining and metals globally in 2023, ESG remains at the top. Of course, most companies have environmental goals or are expected to reach a net zero emission by 2050, which is a pretty aggressive target. Many of them are targeting 30% reduction by 2030; seven years from now. So there is a lot of action that needs to take place quickly to get there. It is possible to get there, but we need to make sure we are doing this correctly.”
Fast becoming a huge part of ESG initiatives is fleet electrification where particular progress is being made in underground mines. While some countries are certainly more advanced than others here, Provencher noted that 40% of total emissions from the mining industry come from diesel trucks, making EVs a very attractive low-hanging fruit for companies to pursue.
There are, however, a number of challenges associated with bringing in electric vehicles which remains a barrier for introduction. One of the predominant reasons, is the limited range of EVs against diesel counterparts. To mitigate this, Provencher continued, data management is key and ensuring a strong grasp of real-time information coming in will show operators when machinery needs to be charged, allowing them to plan effectively for maximum efficiency on site.
Indeed, this is but a small advantage that digitalisation can bring to the mining industry as it grapples to meet ESG goals while achieving production targets. By getting a better grip of their data and using it to empower tools such as artificial intelligence, advanced analytics and machine learning, companies can achieve tangible benefits such as reduce downtime, enhance worker safety, cut operating costs and, of course, ensure compliance with environmental regulations and targets.
Through the course of the webinar, Provencher outlined this in more detail and explored AVEVA’s suite of cutting-edge software solutions, specifically designed to help mining companies make progress on their digitalisation journey and empower their operations.
Watch the full webinar, completed with detailed case studies and an insightful Q&A session.
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Convergent, in association with African Review, has held a detailed webinar exploring the usage and effectiveness of lithium silicates and densifiers over traditional methods of concrete surface management which often struggle to meet the increasing challenges posed by concrete surface management.
Convergent experts including Mputu Schmidt, CEO of Convergent; Carlos Garcia, product manager end-user solutions, construction chemicals, Spain and Portugal for the RD Group; Matteo Mozzarelli, CEO of concrete Solutions Italia; and Jean-Claude Biard, global senior executive for the Convergent Group, presented across the session.
Together, they delved into the latest cost-effective application methods for long lasting finishing of concrete that can help reduce maintenance costs and avoid unexpected repair action. In addition, they examined the advancements in technologies that can sustain increased abrasion resistant stains and ensure gloss retention to the highest quality.
As part of the webinar, the representatives explored case studies including a case in DRC where a medical centre had been constructed with a low-quality concrete floor. The customer was considering completely replacing the floor but instead, Convergent put forward a special treatment with its 244+ Pentra-Sil lithium hardener, densifier and sealer. With this solution, Convergent can increase the hardness of a surface by up to 40% and therefore saved the customer significant recuperation costs over a complete replacement. Convergent were happy to report that the solution was perfect for the facility and the customer was pleased to avoid the extra construction work that would have been required for a complete replacement.
Watch the full webinar, including more information about Convergent’s innovative solutions.
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Masdar, TotalEnergies, and EPointZero collaborate to boost clean energy access in Africa, Asia, and India under UAE-France Business Council. (Image source: Masdar)
Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s leading clean energy company, has joined forces with TotalEnergies and EPointZero, the decarbonisation division of 2PointZero, a global investment platform, to enhance access to clean energy across emerging markets in Africa and Asia
The three entities signed a Framework for Action (FFA) agreement to support sustainable energy development in these regions.
The agreement was formalised during the third plenary meeting of the UAE-France High-Level Business Council in Paris on February 16, 2025. This development aligns with the visit of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to France, where he met with French President Emmanuel Macron to reaffirm their strategic partnership and explore collaborations in key sectors such as energy, climate action, artificial intelligence, and advanced technology.
Through this partnership, Masdar and TotalEnergies will work together to provide stable and sustainable electricity to communities in Africa, contributing to the continent’s long-term energy transition. Additionally, they will pursue new clean energy opportunities in Southeast Asia. Meanwhile, TotalEnergies and EPointZero will collaborate to support India’s clean energy targets through solar, wind, and energy storage projects, reinforcing the country’s decarbonisation efforts.
Strengthening clean energy
This Framework for Action unites these leading companies under the UAE-France High-Level Business Council, enabling them to expand capabilities and improve clean energy access in emerging economies across Africa and Asia.
Masdar’s CEO, Mohamed Jameel Al Ramahi, highlighted the significance of the agreement, stated, “Enabled by the strength of the UAE-France bilateral relationship, Masdar is proud to be working with TotalEnergies to help deliver clean energy access across Southeast Asia and Africa. This agreement reflects our shared commitment to empowering local communities, driving socio-economic growth and sustainable progress, and advancing the global energy transformation. It is heartening to see the UAE-France Framework for Cooperation in Artificial Intelligence signed last week, and we look forward to continuing to utilise cutting-edge clean energy technologies to drive access and sustainable growth.”
Stéphane Michel, president for Gas Renewable and Power at TotalEnergies, emphasised the long-standing partnership with Abu Dhabi, remarked, “By supporting the development of the country’s Oil and Gas reserves, TotalEnergies has been a key partner of Abu Dhabi for more than 80 years. We are now delighted to extend our partnership with Abu Dhabi to the development of renewable energies in emerging markets in Asia and Africa. Combining the strengths, expertise and reach of Masdar, EPointZero and TotalEnergies will certainly enable each partner to accelerate their growth and improve the quality of their investment in those fast-developing markets where renewable energies are key to those countries’ Energy Transition.”
Mariam Almheiri, group CEO of 2PointZero, reinforced the partnership’s broader impacted, “This partnership deepens UAE-France ties and advances our shared commitment to advancing the global energy transition. By combining the expertise of Masdar, TotalEnergies, and EPointZero, we are expanding clean energy access in emerging markets, accelerating decarbonisation, and driving economic growth. Our collaboration across India, Africa, and Asia will scale up renewables and energy storage, ensuring reliable, sustainable power for millions. Together, we are building a cleaner, more resilient world.”
UAE-France Business Council’s role in clean energy expansion
The UAE-France High-Level Business Council was established in July 2022, coinciding with a meeting between UAE President Sheikh Mohamed bin Zayed Al Nahyan and French President Emmanuel Macron. Its purpose is to foster economic collaboration, encourage private-sector investment, and support innovation-driven projects.
The Council held its inaugural plenary session in January 2023 and has since played a crucial role in promoting joint initiatives that support a sustainable, low-carbon future. The UAE and France have maintained a Comprehensive Strategic Energy Partnership since 2022 and launched the UAE-France Bilateral Climate Investment Platform in 2024 to further strengthen their commitment to sustainable energy development.
Also read: https://africanreview.com/energy/south-africa-s-power-shift-begins
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A50 underscores the company’s commitment to meeting evolving customer needs by providing more choices and improved operational capabilities. (Image source: Volvo)
Volvo Construction Equipment (Volvo CE) has announced a comprehensive update to its globally recognised articulated hauler lineup, marking the most extensive product portfolio renewal in decades
The revamped range now includes models from A25 to A60, featuring significant technological advancements aimed at improving efficiency, safety, and adaptability for future drivetrain developments. A notable addition to the lineup is the all-new A50 model, which expands customer options in the demanding hauler segment.
A new range from A25 to A60
A pioneer in the articulated hauler industry since introducing ‘Gravel Charlie’ in 1966, Volvo CE is rolling out its latest lineup in a phased global release throughout 2025. This upgrade represents a significant technological leap, incorporating a new electronic system and an in-house developed transmission that delivers fuel efficiency improvements of up to 15%, depending on the model and application. Designed with adaptability in mind, the new haulers are constructed to integrate seamlessly with future drivetrains.
Introducing the A50 model
One of the most exciting highlights of the launch is the debut of the A50 model, which enhances Volvo CE’s offering in the hauler segment. Available in selected markets, the A50 underscores the company’s commitment to meeting evolving customer needs by providing more choices and improved operational capabilities. The updated haulers are engineered to lower the total cost of ownership while ensuring maximum safety and productivity, especially when combined with Volvo CE’s digital solutions such as Haul Assist with onboard weighing.
Melker Jernberg, president of Volvo CE, emphasised the company’s legacy of innovation,“For nearly 60 years we have been leading the way with our range of articulated haulers and now with today’s launch of a new range of outstanding products, including one completely new model, we prove that there are no limits to our capacity for innovation. Our customers know to expect a first-class operation when they get into one of our haulers, but that experience has just got even better with a host of cutting-edge features designed with our customers in mind.”
A circular approach to sustainability
The new range is designed to be among the most fuel-efficient hauling solutions on the market, incorporating sustainability-focused elements such as low-carbon emission steel made from recycled materials. This steel, produced using fossil-free electricity and biogas, is being integrated into the serial production of haulers at Volvo CE’s Braås site. Given that steel is a major component in Volvo CE’s products and is traditionally a significant source of carbon emissions, this material circularity initiative aligns with the company’s broader sustainability strategy to achieve net-zero greenhouse gas emissions by 2040.
A step towards the future
With over 35% of its total range renewed in the past 12 months, Volvo CE is taking a decisive step towards shaping the future of construction equipment. This latest product overhaul continues the company’s long-standing tradition of setting industry benchmarks for innovation and operational excellence, just as it did in 1966. By integrating cutting-edge features and sustainable manufacturing practices, Volvo CE reinforces its leadership in the articulated hauler segment and its commitment to meeting the challenges of tomorrow’s construction industry.
Also read: Volvo CE adopts low-carbon steel
Canadian mining group Robex has signed a new agreement with Mali to operate its Nampala gold mine
The company has been operating the mine since 2017, but the new agreement reflects changes to the West African country’s mining code. The new rules compel international firms to pay higher taxes and also to hand over bigger shares in assets to the state, moves which have ruffled feathers among foreign investors.
Mali is Africa’s second biggest gold producer.
In a statement, Robex managing director Matthew Wilcox said that he was grateful for getting the new deal over the line.
“I would like to thank their excellencies, the Minister of Mines, the Minister of Economy and Finance and all the parties involved for constructive discussions over the past few months, and we look forward to working alongside the government,” he said.
However, last September, the company had indicated that it was ready to sells its Nampala asset but had not received any acceptable offers.
Mali's Council of Ministers also released a statement this week stating that the company was now looking to produce 1.4 tons of gold per year for a period of eight years.
“Geological research carried out by the company has identified a deposit with mineral reserves estimated at 17,351,000 tons with a gold content of 0.70 grams per ton,” it stated. The statement added that the government had signed a memorandum of understanding with the company in September that allowed Mali to increase its stakeholding in the Nampala project, entitling the state to priority dividends.
The Nampala mine in southern Mali is approximately 300 km south of the capital, Bamako. The open-pit mine uses conventional surface mining techniques and process to recover gold. The mine is excavated using a conventional truck and shovel operation.
The widest equipment used by the contractors is a Caterpillar 773B haul truck, matched with a 385 hydraulic excavator.
Nampala first reached commercial production in January 2017, with output rising rapidly on the back of exploration work, eventually hitting peak production at 8047tpd in mid 2022.
But other mining groups, such as Barrick Gold, have yet to reach a successful resolution with the Mali regime following the change in rules. In a 12 February statement, the company stated that “ongoing issues in Mali remain an investor concern” and acknowledged that this had dragged on share prices. Barrick’s chief executive Mark Bristow told Reuters in an interview that the company still hopes to restart operations at its shuttered Loulo-Gounkoto mine as soon as local authorities allow it to resume gold shipments.
Barrick Gold is the largest single investor in Mali’s gold mining sector.
Read more: Barrick's commitment to Mali's mining sector
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MSC launches iReefer, a real-time container monitoring system for reefer cargo, enhancing shipment tracking, security, and temperature control. (Image source: Adobe Stock)
MSC Mediterranean Shipping Company has introduced iReefer, a state-of-the-art container monitoring system designed for temperature-controlled cargo
This innovation enables customers to track and oversee their refrigerated shipments in real-time, from any location worldwide.
With iReefer, users gain instant access to crucial shipment details, including location, temperature, humidity, and more. The service is accessible through myMSC, the company’s digital business platform, or via an API for seamless integration.
Customers can choose from three tailored iReefer packages based on their business needs. The entry-level option, iReefer Essential, is available at no cost and provides an overview of current and past reefer shipments, a container journey log, and analytical graphs. iReefer Pro expands on these features by offering unlimited data downloads and GPS tracking. For businesses managing large cargo volumes, iReefer Ultimate ensures direct API connectivity for streamlined data exchange. The premium packages, iReefer Pro and iReefer Ultimate, will be available starting 1 March 2025.
As a global leader in refrigerated transport, MSC moves over 1 million reefer containers annually. The company operates one of the most sophisticated reefer fleets and is supported by a team of more than 1,000 reefer specialists worldwide.
The launch of iReefer represents a key milestone in MSC’s ongoing digital transformation, aimed at enhancing shipping efficiency and providing real-time insights for supply chain optimisation. This new solution complements MSC’s existing digital portfolio, which includes MSC Smart Containers for remote dry cargo monitoring.
As part of this global initiative, MSC has integrated iReefer technology into over 210,000 reefer containers and equipped more than 500 vessels, with plans to expand deployment across its entire fleet in the coming years.
“This exciting launch highlights MSC’s unique ability to combine forward-thinking digital solutions with personalized customer care. iReefer is designed with customers in mind: we fully understand their need to closely monitor and control cargo, to facilitate planning and ensure products are delivered in pristine condition. It builds on the already high levels of care we apply to reefer cargo and takes this support to the next level,” said Giuseppe Prudente, Chief Logistics Officer of MSC and President of MEDLOG.
Digital Innovation in Cold Chain Logistics
The introduction of iReefer aligns with the rising global demand for refrigerated cargo and user-friendly digital solutions. Customers will benefit from real-time container monitoring, precise temperature control, improved security, regulatory compliance, and valuable data insights. Additionally, connected reefer containers help minimize costs by reducing spoilage, preventing damage, and lowering insurance claims.
South Africa-headquartered DMA has agreed to acquire a majority stake in Saxo Australia from Saxo Bank, a leading online trading and investment specialist
DMA is a global leader in all-in-one software solutions for financial advisers and wealth managers.
As part of the acquisition and partnership, DMA will leverage Saxo Bank's platform and trading technology for clients for the Australian market.
The Johannesburg-based group will assume 80.1% ownership of Saxo's Australian business, subject to regulatory approval, with Saxo Bank retaining 19.9%.
With the transaction, Saxo's award-winning platforms, product range, competitive prices and interest rates will be complemented and strengthened by DMA's business-to-business knowhow, world-class adviser offering and track record of growth.
“We believe DMA’s platform offering will bring tangible benefits to Australian financial advisers and wealth managers, while the business will continue to focus on delivering high-touch, high-quality service for self-directed retail clients," said DMA's CEO, Richard North.
"It'll be the best of Saxo and the best of DMA and we think that adds up to the marketplace's best choice for investors and partners across the entire lifecycle.”
This transition represents an expansion of an existing partnership between DMA and Saxo in South Africa, the Netherlands and the UK.
In these regions, DMA already leverages Saxo's capabilities, outsourcing the brokerage business model, managing all aspects of trade orders, execution, settlement and post-trade operations.
Saxo's open architecture means that DMA can build additional interfaces, digital services and trading experiences for Australian clients.
Currently, more than 160 wealth managers and adviser networks across Africa, Europe, and the United Kingdom use DMA to access global markets.
Specifically for the Australian market, Saxo's banking as a service (BaaS) solutions paired with DMA's software solutions will enable Australian institutional partners, such as financial advisers and asset and fund managers, to connect front, middle, and back-office functions under one solution.
Saxo will deliver the best-in-class digital investing and trading platforms, and will also provide the back-office infrastructure, from clearing and settlement to execution and custody.
This will support financial services firms to reduce back-office cost and complexity and enhance client-facing services.
The new business will retain Saxo Australia's staff, led by its CEO, Adam Smith, while looking to bolster its Australia-based workforce to ensure clients get the best investing and trading experience.
The name and brand of the new business will be determined after a transitional period, with the business to continue operating as Saxo Australia in the meantime.
The sale comes after Saxo Bank in June 2024 announced a review of strategic opportunities in the Asia-Pacific, seeking to accelerate its growth in the region.
"We will ensure a smooth transition and aim to enhance the offerings and services provided,” said Smith. “The clients of Saxo Australia will notice absolutely no disruption in service, product range, or platform access. We are very pleased to partner up with DMA and believe that this will be a game changer for Australian clients.”
Ghana-based manufacturer Mohinani Group Limited has teamed up with the International Finance Corporation (IFC) to undertake the recycling of Polyethylene Terephthalate (PET) from plastic waste in Ghana and Nigeria
The initiative is expected to create thousands of jobs in both countries and help protect the region’s environment.
Under the partnership, IFC will provide a loan of US$37mn to help Mohinani Group subsidiaries Polytank Ghana Limited and Sonnex Packaging Nigeria Limited to establish PET recycling plants in Ghana and Nigeria.
Each plant will have the capacity to produce 15,000 tons of recycled PET (rPET) resins annually that will substitute virgin PET resins used to make food grade and beverage packaging containers.
Some 90% of the raw materials will be sourced from local small businesses involved in plastic collection.
“The rPET project by the Mohinani Group was born out of a vision to close the bottle-to-bottle recycling loop in Africa and the group’s dedication to advancing environmental sustainability,” said Roshan Mohinani, strategy and transformation manager for Mohinani.
“It is also inspired by our group's purpose of improving the quality of lives in Africa, as this initiative is expected to create over 4,000 jobs along the value chain in Nigeria and Ghana, thereby providing economic empowerment to a significant number of young people, particularly women.”
Combined, the new plants are expected to create more than 4,000 direct and indirect jobs across the value chain and approximately US$21mn in annual savings from imports for each country.
PET is a polymer resin of the polyester family, widely used for making containers for liquids and foods.
Using recycled plastic waste for production will prevent harmful pollutants from being released into the environment and reduce the need for virgin plastics. This will lower greenhouse gas emissions because recycled plastics have a smaller energy footprint than new plastics.
IFC — a member of the World Bank Group — will provide advisory services to strengthen Mohinani’s environmental and social practices and its capacity for efficient and sustainable PET recycling operations.
The project aligns with IFC’s strategies for Ghana and Nigeria which are focused on mitigating climate change, job creation and economic transformation.
It is also consistent with the World Bank Group’s Climate Change Action Plan 2021-2025, which aims to reduce the use of virgin plastic resins and greenhouse gas emissions in the packaging materials value chain.
“IFC's partnership with Mohinani underscores our dedication to promote environmental sustainability and economic development in Ghana and Nigeria,” said Dahlia Khalifa, IFC regional director for Central Africa and Anglophone West Africa.
“By recycling up to 30,000 tons of PET waste annually, these new plants will protect the environment and substitute imports with locally recycled materials.”
Read more recycling news here:
Alpla enters South African PET recycling market
Continental launches sustainable tyres
CCBA encourages plastic bottle collection in Ethiopia