Date Archives for October 2016
Dana Sanchez, 9:39 pm
South African commercial property continues to present attractive investment opportunities to discerning investors, despite challenging economic conditions. There’s appetite for regional and super-regional malls, which enjoyed low vacancy rates in 2016 — 3 percent and 2 percent respectively — painting a positive picture of the economy. Johannesburg’s office market is a different story.
Dana Sanchez, 12:11 pm
Oil-importing African countries are showing an improved business environment as the continent endures its slowest growth in more than two decades. In contrast, countries that export commodities are under economic pressure due to low oil prices including three of Africa’s largest economies. Some countries that are doing better are predicted to grow at more than 6 percent. IMF predicts average growth will fall to 1.4 percent in 2016, less than half of 2015 growth.
Ann Brown, 9:47 am AFKI Original
The African poultry sector is growing, especially in Tanzania. Eugene Paul Kavishe grew his poultry operation from 300 birds to 15,000 egg layers, thanks in part to U.S.-sponsored entrepreneur programs. Getting financing has been one of his biggest challenges. “Local financial institutions term agriculture as a very risky business,” he told AFKInsider. In 2014 he was chosen for Obama’s Young African Leaders Initiative. YALI offers African entrepreneurs a once-in-a-lifetime experience and a wealth of business knowledge, he said. “I hope that it will continue (in the next U.S. administration).”
The South Africa rand jumped against the U.S. dollar on Monday after the country’s National Director of Public Prosecutions, Shaun Abraham dropped fraud charges that had been preferred against Finance Minister Pravin Gordhan. The rand gained 1.6 percent to the green back after the news reached the market, according to Reuters data. Gordhan was due to appear in court on Wednesday over fraud charges related to the approval of Ivan Pillay’s early retirement package
Kevin Mwanza, 8:15 am
Ghana, will offer gas from the Jubilee oil and gas field to the Chinese government from 2018, as part of securing an additional $1.5 billion from a loan deal with China Development Bank. The government said that this part of its self-financing loan strategy initiative to ease the burden on the nation’s tax-payers, and will not plunge the West African nation into power crisis
Rebekah Kendal, 7:17 am
The French are proprietory when it comes to the use of the word “champagne.” South African producers using the classic French method decided to call their sparkling wines Méthode Cap Classique (MCC). The Franschhoek Valley is home to the Franschoek Cap Classique Route, with 18 MCC producers from Backsberg Estate Cellar on the Klapmuts-Simondium road to Morena on the Franschhoek Pass. You won’t be able to tackle them all in one day, so make a weekend of it and hire a driver to get you safely from one farm to the next. Here’s a taste of what you can expect.
Peter Pedroncelli, 6:02 am AFKI Original
Despite all of the issues plaguing South Africa at the moment, the country may manage to avoid a ratings downgrade in 2016. After surviving the potential downgrade of the country’s investment grade credit rating in June this year, the ratings agencies are set to pronounce judgement on South Africa once again in the coming months, and there is a risk that the country could be downgraded to below junk status. Here are 12 reasons why South Africa will avoid a ratings downgrade this December.
Peter Pedroncelli, 5:16 am
Scottish club Celtic travel to Germany to face Borussia Monchengladbach in UEFA Champions League action on Tuesday night, and coach Brendan Rodgers is pleased to be able to count on the experience and mental strength of Ivorian defender Kolo Toure in upcoming matches.
Peter Pedroncelli, 2:38 am
Manchester United defender Eric Bailly suffered a knee injury in English Premier League action last week, and has revealed that the recovery time will see him aiming to return to the pitch in two months. The Ivorian will therefore be looking to gain fitness in time to feature for Jose Mourinho’s side in the final days of 2016, only weeks before the 2017 Africa Cup of Nations (AFCON) is scheduled to take place in Gabon.
Staff, 12:12 am
Trade deals criticized as harmful to U.S. economic interests have emerged as a key issue in the race for the White House. Trump could include AGOA as part of a general offensive against U.S. trade agreements. A threat to the program will more likely come from unfair competition on the part of the European Union. African regional trade blocs are in talks with the E.U. on deals that would allow E.U. goods to enter the continent duty-free.
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