Cape Town News

Johannesburg, South Africa

The top 10 wealthiest cities in Africa: AfrAsia Bank & New World Wealth (Infographic)

AfrAsia Bank and New World Wealth recently reviewed the 10 wealthiest cities in Africa by total wealth held.

Werner Vogels, CTO, Amazon.com

Amazon Web Services cloud platform considering hosting data centers in South Africa

Amazon Web Services is hoping to build cloud data centers in South Africa – an expansion was strongly hinted at by CTO Werner Vogels during the recent AWS Summit in Cape Town.

The Silo: Is this Africa's best new hotel?

The Silo: Is this Africa's best new hotel? Check out photos

Cape Town’s The Silo Hotel — named after the former grain-silo complex in which it is housed — opened its doors in March as an instant Cape Town landmark.

Bob van Dijk, CEO, Naspers

Africa's largest company to start funding roadshow in the US and UK

Naspers Ltd. will approach investors in the U.S. and the U.K. this about a bond issue as Africa’s biggest company by market value continues its acquisition-hungry quest to expand its internet businesses.

Helen Zille, Premier of the Western Cape

South African Opposition Suspends Ex-Leader Over Colonialism Tweets

South Africa’s main opposition party, the Democratic Alliance, suspended Helen Zille, its former leader and premier of the Western Cape province.

Scott Guthrie, Executive Vice President, Cloud and Enterprise Group, Microsoft

Microsoft to deliver Microsoft Cloud from datacenters in Africa from 2018: Scott Guthrie, Executive Vice President, Cloud and Enterprise Group, Microsoft

Microsoft will soon deliver cloud services from datacenters located in Cape Town and Johannesburg, South Africa.

Christoffel Wiese is a South African businessman and billionaire who built Shoprite Holdings Ltd., a supermarket retailer, from the ground up. Credit: Waldo Swiegers/Bloomberg/Getty Images/The Africa Report

Monopoly Money: The successes and failures of South African billionaire Christoffel Wiese

One of South Africa’s richest business leaders talks about his commercial successes and failures, the debates about race and economics in South Africa and his criticism of the government.

World Bank launches program, XL Africa, to support Africa’s top tech entrepreneurs. Credit: infodev.org

World Bank launches program, XL Africa, to support Africa's top tech entrepreneurs

With support from prominent African investment groups, XL Africa will help 20 selected startups attract early stage capital of between $250,000 and $1.5 million.

Shoprite

Africa growth to rebound in 2017: Africa Capital Group (Infographic)

After the U.S. election in November, many Africa investors became concerned that a move toward a more isolationist trade policy in the U.S. would hinder business, trade and capital flows to and from Africa.

Pravi Gordhan, South Africa's former Finance Minister

South Africa's President Zuma sacks Finance Minister Pravin Gordhan in major cabinet reshuffle

Major cabinet reshuffle comes as calls for South African president to quit grow.

Lagos, Nigeria

Lagos is Africa's most valuable startup ecosystem

Lagos has the most valuable startup ecosystem in Africa, with the local entrepreneurship scene worth US$2 billion, according to a new report.

Airbnb Aims to Double Growth in Africa This Year

Airbnb aims to double growth in Africa this year to reach 1.5 million customers

Airbnb expects to maintain its rapid growth in Africa this year and double its customer numbers to 1.5 million,.

Africa's best-performing hedge fund launches food-focused private equity fund

Africa's best-performing hedge fund launches food-focused private equity fund

Polar Star targets agriculture as food demand outstrips supply. Commodity hedge fund beats peers over five-year period.

Cape Town was the most important destination in 2016 for startup investments in Africa

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable wifi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms

Steinhoff-Shoprite merger talks collapse as sides fail to agree on terms (Infographic)

A successful deal would have created Africa’s biggest retailer. Shares of both companies jump as news ends antitrust concerns over deal.

Nic Rudnick, CEO, Liquid Telecom

Pan-African Liquid Telecom Group has completed the $500M purchase of South Africa's Neotel

South African communications network operator Neotel has officially become part of the pan-African telecoms group Liquid Telecom.

Isondo will produce fuel cell compontents using platinum as a catalyst

South Africa targets auto sector with fuel cell plant

Africa’s first fuel cell component plant using platinum as a catalyst will start production by December aiming to take advantage of rising demand for clean energy cars.

EXEO Capital's Sub-Saharan Africa agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital's agribusiness Agri-Vie Fund II attracts over $100M in first close

EXEO Capital, the pan-African private equity investment firm, has announced the first close of the second Agri-Vie Fund, focused on the food and agribusiness sector in Sub-Saharan Africa.

Investment in Africa's tech start-ups on the rise

Investment in Africa's tech start-ups on the rise

From mobile money to cargo drones and rugged portable Wi-Fi hotspots, Africa’s innovators are generating new technology to tackle consumer needs and development challenges.

Nairobi, Kenya. Credit: Africa Capital Group/Ninara/Flickr

Africa to Rebound in 2017: Peter C. Thoms, CFA, Founder, Africa Capital Group

2016 was a tumultuous year that offered Africa investors many opportunities to make mistakes.

Africa’s rising middle class – and why it matters. Credit: newafricanmagazine.com

Africa's rising middle class - and why it matters

According to the African Development Bank (AfDB), as far back as 2011 there were already 313 million people – or 34 per cent of the continent’s total population – that could be referred to as middle class.

Nic Rudnick, CEO, Liquid Telecom

Liquid Telecom buys Neotel for $466M to form Africa's largest fiber network

Africa’s largest fiber network will be formed as Liquid Telecom buys South African converged network operator Neotel.

Dar es Salaam, Tanzania

The rise of Africa's megacities

Over the last 35 years, the share of Africa’s population living in urban areas climbed from 27% to 40%.

Nunu Ntshingila, Head of Facebook Africa. Credit: Memeburn

Facebook is boosting its advertising teams in Africa

Facebook is building a team of young executives to win digital advertising dollars from small and medium sized businesses across Africa’s major markets.

Johannesburg, South Africa. Credit: sothebysrealty.com

Fact of the Day: Johannesburg, South Africa is the #1 tourist destination in Africa for the 4th year in a row

South Africa’s major urban cities remain the most visited in the African continent, attracting millions of tourists, boosting local tourism and injecting billions of dollars into the economy.

A visitor takes photographs from the Ou Kaapse Weg as seasonal fog covers the city of Cape Town. Almost 7,000 visas were issued by the South African embassy in the UAE for the first seven months of this year. Credit: thenational.ae/Mike Hutchings/Reuters

Hotel developers will invest billions of dollars in African projects over the next few years

Hotel developers will invest billions of dollars in African projects over the next few years as they seek to take advantage of a fast-expanding middle class and growing business travel.

Menlyn Park Shopping Centre, Pretoria, South Africa (Illustration)

Menlyn Park Shopping Centre to cement its place as Africa’s largest mall

Despite a slowdown in consumer spending across South Africa, Pretoria’s Menlyn Park Shopping Centre is undergoing a R2.5 billion revamp that will make it the largest mall in Africa, unseating Durban’s Gateway Theatre of Shopping.

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

Dunkin' Donuts Arrives in South Africa to Challenge Krispy Kreme

South Africans wanting hot glazed doughnuts with a gulp of coffee can now choose between two U.S. brands — Dunkin’ Donuts and Krispy Kreme.

Uber expands food delivery business UberEats into South Africa

Uber expands food delivery business UberEats into South Africa

Uber Technologies started its UberEats food delivery service in South Africa last Thursday before it expands in the rest of the country and into the continent.

Deepak Malik, Africa Regional Director, Norfund

Norway-Backed Fund on Hiring Spree in Africa Finance Venture

A new development-finance venture that will control banking and other assets worth more than $660 million across sub-Saharan Africa plans to hire as many as 20 people including analysts to manage its investments and help it spend another $300 million on acquisitions.

Opeyemi Awoyemi, Ayodeji Adewunmi and Olalekan Olude, Founders of jobs site Jobberman. Credit: Jobberman/theguardian.com

Here are Africa's top 10 tech pioneers

Africa’s digital transformation would be nothing without the tens of thousands of people who have invested, and continue to invest, energy into propelling it forward.

Nicky Newton-King, CEO, Johannesburg Stock Exchange (JSE)

Johannesburg Exchange Boss Nicky Newton-King Braces for Competition

South Africa’s stock exchange is getting an upgrade. To keep up with growing competition, the Johannesburg Stock Exchange has embarked on a long-term project to gather all of its markets onto a single, faster trading platform and a new clearing system.

Africa - The great opportunity

Africa: The great opportunity

Africa is rapidly becoming the global economic growth engine. Half of the world’s 25 fastest-growing nations are in Africa and almost 40 per cent of the continent will achieve GDP growth of more than 5 per cent in 2016.

Cape Town, South Africa. Photograph: Eric Nathan/Alamy

A New Map for Business in Africa

Only a few years ago, Africa was being dubbed “the next Asia,” and multinationals watched with mounting interest as local economies boomed across the continent.

Rob Shuter, incoming CEO, MTN Group

South Africa's MTN names Vodafone Europe Head Rob Shuter as CEO

South African mobile phone operator MTN Group named the head of Vodafone Europe as its new CEO on Monday, bringing in an outsider with a risk-management background 10 days after it agreed to pay a $1.7 billion fine in Nigeria.

Taxify's driver app, putting the driver first. Credit: Taxify/qz.com

Uber's rivals in Africa think they can win with happier drivers, traffic jam deals and even price haggling

Wherever there is a car, a decent road and a reliable GPS connection, there is Uber.

Alon Lits, General Manager, Sub-Saharan Africa, Uber

Uber to launch in Ghana, Uganda and Tanzania within a month

Alon Lits, General Manager, Sub-Saharan Africa, Uber Ride-hailing company Uber said Thursday that it plans to start operating in the capitals of…

"Industries serving consumer staples and discretionary spending fetch the highest prices because of favorable demographics in the growing middle class," says Rory Ord, RisCura's Head of Valuations

Private Equity Firms Bid Up Africa M&A Prices on Record Funds

The prices private equity firms pay for stakes in African companies are the highest in six years, driven by record fundraising and competition for the continent’s expanding middle class.

Kuben Naidoo, Deputy Governor, South African Reserve Bank

As Bob Diamond readies Barclays Africa bid, South Africa warns on bank buyouts

South Africa raised caution over Bob Diamond’s potential offer for Barclays Plc’s local unit, with the central bank signaling that private-equity bidders for the country’s third-largest lender would face opposition from regulators.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Africa's planned cities and the future

One of the objectives of Sustainable Development Goals is to have sustainable cities that provide opportunities for all, including access to basic services, energy, housing and transport. Some African cities like Lagos and Kigali are on the move.

Howard Schultz, Chairman & CEO, Starbucks

Starbucks brews grande success in South Africa with plans to launch 150 stores

Eight days after the opening of the first Starbucks in sub-Saharan Africa, the queue of customers is still as long as ever. The lineup snakes out of the store, across the pavement and around the corner.

Ghana's startup hub pioneer MEST is going pan-African with a $50 million fund

Ghana's startup hub pioneer MEST is going pan-African with a $50 million fund

Meltwater Entrepreneurial School of Technology (MEST) has built one of Africa’s best known startup ecosystems in Accra, Ghana over the last eight years—and now it’s doubling down on a push to take its vision pan-African.