South Africa: Latest News

  • South Africa’s Zuma Considers Stepping Down Early In Deal To Oust Gordhan

    Zuma considers stepping down early By Reuters, 11:31 am

    The ANC is having its most difficult time since the end of white-minority rule. Zuma agreeing to leave early could heal some wounds. “This could be the long-awaited compromise where Zuma agrees to go in return for some protection,” a political analyst said. Zuma’s offer appears as a way out but may not be enough to satisfy opponents. “We don’t need his offers. He must just go before destroying our country,” a senior ANC member said. In a sign of how divided the party is, Zuma was asked not to attend the funeral of anti-apartheid stalwart Ahmed Kathrada on Wednesday. Gordhan got a standing ovation.

  • The Anglos Are Coming To Francophone Africa With An Appetite For Investment

    Anglos investing in Francophone Africa By Kurt Davis Jr., 10:13 am AFKI Original

    The Anglos have an apparently insatiable investment appetite for the region. Gabon will no longer fly under the radar after Washington, D.C.-based Carlyle Group — the world’s largest private equity fund — purchased Royal Dutch Shell’s onshore assets in Gabon for $587 million. Petroleum services, infrastructure and timber are rising on the radar for crafty investors in Gabon. Financial services and ICT too. Gabon is a stable provider of services and networks to neighboring countries. Here are six other Francophone African countries investors are looking at.

  • 13 African Countries With The Highest Central Bank Interest Rates

    Interest rates in Africa By Peter Pedroncelli, 3:05 am AFKI Original

    Central banks are the national banking institutions that provide financial and banking services for countries’ governing and commercial banking system, including lending money. African countries have some of the highest interest rates in the world, with some even reaching as high as 23 percent. By way of comparison, the U.S. Federal Reserve recently revised the country’s interest rate to 1 percent, while most of Europe’s central banks have interest rates at between 0.25 percent and 2 percent. We take a look at 13 African countries with the highest central bank interest rates.

  • Cameroon Owes Coach Hugo Broos Half A Year’s Salary

    Hugo Broos By Peter Pedroncelli, 9:53 am

    Cameroon national team head coach Hugo Broos has yet to receive almost seven months’ worth of his salary from the Cameroon Football Federation (FECAFOOT). The Belgian tactician led the Indomitable Lions to Africa Cup of Nations glory at the 2017 AFCON in Gabon, with Cameroon beating Egypt 2-1 in the final, but he has not yet been paid for half a year’s worth of wages. Reports in Jeune Afrique suggest that the coach, who earns around $48,900 per month at the African champions, has not received a pay check since around September last year.

  • Four South African Players In Doubt For Angola Friendly International

    Bafana captain Dean Furman By Peter Pedroncelli, 6:13 am

    South Africa’s 3-1 win over Guinea-Bissau in a friendly international on Saturday in Durban came with a price as four Bafana Bafana players are doubtful for the friendly encounter against Angola on Tuesday through injury. Defenders Erick Mathoho and Thulani Hlatshwayo, as well midfielders Dean Furman and Andile Jali are being monitored by the national team’s medical staff. The quartet missed Bafana’s first training session at Sisa Dukashe Stadium in Mdantsane on Sunday night, and will need to be closely monitored before a decision on their availability is made.

  • 12 African International Friendly Results From The Last Week

    By Peter Pedroncelli, 4:57 am AFKI Original

    National teams throughout Africa were involved in international friendly matches over the weekend, as they used the FIFA international break as an opportunity to prepare for various qualifying campaigns with encounters against other nations. With the 2019 Africa Cup of Nations (AFCON) and 2018 World Cup qualifying campaigns taking place during the course of this year, the African teams are making the most of friendlies as part of their preparations. We take a look at 12 international friendly results involving African teams from the last few days.

  • The Face Of Stability, SA’s Gordhan To Woo US, UK Investors Ahead Of Moody’s Next Review

    Gordhan to woo US By Reuters, 1:01 am

    Gordhan is leading a team to London, Boston and New York provide an update on the most recent South African developments, “engage constructively with investors and share the government’s thinking behind its’ latest policy proposals.” Investors are concerned about rising political tensions in the ruling ANC, which is due to vote this year to replace President Jacob Zuma as ANC leader. For investors, Gordhan is the face of stability. Talk that Zuma might fire him has rattled financial markets.

  • GE Oil & Gas Opens New Sub-Saharan Africa Facility To Support ENI

    GE Oil & Gas opens new sub-Saharan Africa facility By Dana Sanchez, 4:58 pm AFKI Original

    African exploration took a hit the last two years. Eni’s success shows it’s not over. Eni is Africa’s leading gas producer. With an oil sector less than 10 years old, Ghanaian companies have limited experience providing tech services to offshore operators. GE says it plans to provide training and support for the local oil and gas supply chain, and SMEs. GE’s new Ghana facility is already supporting Eni. Eni’s exploration success rate is the envy of its peers. Most of Eni’s oil finds were discovered in the last decade, mainly in Nigeria, the Congo, Ghana and Angola.

  • 12 Crowdfunding Success Stories That Have Emerged From Africa

    Crowdfunding Success Stories By Peter Pedroncelli, 11:22 am AFKI Original

    The idea of funding a venture by raising money through many small contributions on the internet strikes a chord among Africans. It’s ubuntu at its finest. When Media 24 closed Ideas magazine in South Africa in 2016, former editor Terena le Roux took it upon herself to resurrect the publication. Thanks to support on social media, she launched a crowdfunding campaign via Thundafund. The money continues to come in, and she was able to relaunch the magazine.

  • Chevron Sells 75 Percent Stake Of South Africa Assets To China For $1B

    Chevron South Africa sold By Reuters, 10:52 am

    The deal includes 820 Chevron and Caltex gas stations, 220 convenience stores across South Africa and Botswana, a refinery in Cape Town, a lubricants plant in Durban, and other oil storage facilities. The Chinese firm says it will keep jobs and company names intact for up to six years before launching a rebranding strategy. Sinopec was the last remaining bidder in an auction to sell Chevron Corp’s South African assets and its subsidiary in Botswana. The auction lasted more than a year and drew interest from French oil firm Total and commodity traders Glencore and Gunvor.

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