South Africa: Latest News

  • Wayde Van Niekerk Given World Championship Double Opportunity

    World Championship Double - Wayde van Niekerk - Rio 2016 Olympic Games By Peter Pedroncelli, 2:20 am

    Wayde van Niekerk will have an opportunity to attempt a rare World Championship double, after the International Association of Athletics Federations (IAAF) cleared the way for him to run the 200m and 400m events at the IAAF World Championships, to be held in London between 4-13 August 2017. The development follows a special request made by Athletics South Africa (ASA), after Van Niekerk showed interest in attempting the rare double.

  • Under-The-Radar African Pension Funds Could Help Pay For Infrastructure

    African pension funds By Staff, 8:36 pm

    Pension funds are good news for infrastructure projects in Africa. Development banks and private equity funds are targeting pension funds in Africa as sources of investment capital. Four African countries hold 90 percent of Africa’s pension fund assets. Despite challenges, African pension funds are likely to make a substantial impact on infrastructure investment in the next few years. One promising trend is the rise of regional funds targeting pensions. They’re making a new source of African capital available to address the region’s infrastructure deficit.

  • 2016 Was A Bad Year For Private Equity In Africa. Commodities Prices Could Turn That Around

    bad year for private equity in Africa By Staff, 12:01 am

    The fall in African private equity investment in 2016 could be a short-term blip. Among the losers was US-based Carlyle, one of the world’s winningest investment firms. Carlyle invested $147m in Nigeria’s Diamond Bank in 2014. The bank’s market cap fell by 90% over the subsequent two years. Bob Geldof’s PE firm 8 Miles just invested in Blue Skies, a British fruit firm that operates in Africa. Utilities including telecoms were the most popular target for private equity investment in 2016. West Africa was the most active region.

  • Opinion: Getting Africa’s Energy Transformation Right Will Involve Policies, Investments That Boost Diversity

    Africa's energy transformation By Staff, 1:00 am

    Africa has an opportunity to pioneer the next investment frontier. Rather than treating new climate-related risks as hurdles to overcome, African policymakers should view them as opportunities for investment and innovation. To accelerate a market shift on the scale that Africa needs will require increased financing from export credit agencies, development banks, commercial financial institutions, and other cross-border sources.

  • Tapping Into Local Tradition: How AB InBev Hopes To Crack Africa’s Home-Brew Market

    InBev hopes to crack Africa's home-brew market By Reuters, 1:00 am

    Africa’s informal alcohol market is about four times bigger than its $11 billion commercial market, analysts say. Home brews have a strong tradition rooted in centuries-old African rituals. AB InBev needs to develop products affordable enough to tap the informal beer and alcohol markets, says InBev’s new Africa head. AB Inbev’s big rivals in Africa – Heineken and Diageo – have also launched lower-priced drinks made with local ingredients that are affordable for more people.

  • South Africa’s Big 12 Retailers Shift From Expansion To Tech Investment

    shift from expansion to tech investment By Staff, 11:08 am

    Data from the big 12 retailers in South Africa show that they are putting their money into store refurbishments and IT instead of African expansion. Compare this to five years ago. The picture was very different. There was talk of aggressive store rollouts. Some South African companies have expanded into Europe and the U.K. to diversify earnings, but when the rand strengthened, those companies lost out. The customer focus is grounded in technology for the Big 12. IT is playing a critical role in investing in customers — building online capability, enhancing efficiency across supply chains and distribution, and reward programs to enhance client insights.

  • Why More African Governments Must Commit To Affordable Internet

    African governments commit to affordable internet By Tom Jackson, 11:52 am AFKI Original

    In most of the developed world, reliable internet costs less than 1% of average monthly income. In Africa, it’s 18%. Governments are vital to drive down internet prices in Africa, stakeholders say. When connectivity costs drop to 2% of monthly income, reaserch shows the internet becomes accessible to all. Just five of 27 African countries surveyed have achieved the 2% affordability target. Free internet access is the simplest way to tackle economic inequality, a stakeholder said. “It allows people to find and apply for jobs, start online businesses, and generally engage with the economy around them.”

  • South African Ratings Downgrade Is Hurting Barclays Africa Exit Plan

    Barclays Africa exit plan By Reuters, 9:48 am

    The pool of potential buyers is shrinking that Barclays’ can sell shares to in its African business. Some institutional investors, including pension funds, do not allow them to hold an asset that’s sliding on credit ratings. Barclays is struggling to find one strategic buyer that will satisfy South African regulators and is looking to sell its remaining 50% stake in chunks. More than 80% of its revenue is in South Africa. “Banks are paying the price for political uncertainty that we’ve seen in the country over the past two weeks,” a fund manager said.

  • South African Nanosatellites Headed For Launch To International Space Station

    South African nanosatellites By Dana Sanchez, 7:41 pm

    By 2020, there will be thousands of small satellites in orbit, mostly for telecommunications. “Low cost” are the magic words in this new space movement. “Until now, space missions were the preserve of the big state agencies,” a stakeholder said. “But today, every university is in a position to produce its own satellites, as are the smaller companies.” Space flight is in a state of upheaval with something along the lines of a democratisation happening – at least as far as the lower orbits are concerned. In the coming years, a commercial breakthrough is expected.

  • 12 Things You Didn’t Know About South Africa’s New Finance Minister Malusi Gigaba

    Malusi Gigaba is a patron for Hope Hospice. Photo: BizNews By Peter Pedroncelli, 1:19 pm AFKI Original

    Following the turmoil of the last few weeks in South African politics, and an unpopular cabinet reshuffle imposed by president Jacob Zuma, the country has a new finance minister, with Malusi Gigaba now in charge of treasury. Popular previous minister Pravin Gordhan was axed from the role, and Gigaba is expected to fill the void left by the hard-working MP who Zuma saw as a threat. We take a look at 12 things you might not know about South Africa’s new finance minister, Malusi Gigaba.

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