South Africa: Latest News

  • 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

    Internet Users - 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.

  • South Africa Retain Sevens World Series Lead Despite Hong Kong Final Loss

    Sevens World Series By Peter Pedroncelli, 4:58 am

    The Springbok Sevens team, known as the Blitzboks, maintained their decisive lead at the top of the HSBC Rugby Sevens World Series standings, despite their loss to Fiji in the final of the Hong Kong Sevens tournament on Sunday. The South Africans are yet to win the sevens title at the Hong Kong National Stadium, despite their dominance in other competition and their great run to the final this weekend. They lost the final 22-0 to Olympic champions Fiji, failing to reproduce the form that earned them a place in the final, but they can be pleased with the fact that it was their seventh consecutive final of the 2016-17 season.

  • South Africa’s First Black Female Winemaker Launches Her Own Brand

    first black female winemaker By Dana Sanchez, 9:34 am

    There are just 37 black-owned wine brands in South Africa, the world’s seventh-largest wine producing country. The industry employs 290,000 people at 550-plus wineries. Empowerment and transformation has been slow to increase black ownership and leadership. Ntsiki Biyela, South Africa’s first black female winemaker, is a role model and symbol of change. She recently launched her own brand, Aslina wines, named after her grandmother in a rural KwaZulu-Natal village of 1,000 people. The wines are set for export to the U.S. later this year.

  • Fitch Joins S&P In Downgrading South African Credit Rating To Junk Status

    South African credit rating By Reuters, 12:25 pm

    Fitch said Zuma’s recent cabinet reshuffle will likely result in new economic policy. Downgrades to junk — first by S&P on Monday and today by Fitch — could see South Africa fall off some global bond indexes. This may force international funds that are prohibited from holding sub-investment grade securities to sell. There is still is a huge wealth gap between blacks and whites, Zuma said in his SONA address. Zuma’s presidency has been riddled with corruption accusations and money-related scandals. He has called for radical economic transformation.

  • Stuart Baxter Set For Return As South African National Team Coach

    Stuart Baxter is ready for a Bafana return. Photo: Goal By Peter Pedroncelli, 4:24 am

    Englishman Stuart Baxter seems set to be officially confirmed as the new South African national soccer team coach, having agreed to terms with the country’s soccer authorities in what will be a return for the SuperSport United manager. The South African Football Association (SAFA) has confirmed that the 63-year-old has concluded a deal to coach Bafana Bafana, and all that remains is for the confirmation to be made public via the media.

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