Deputy President Cyril Ramaphosa saw his chances of becoming South Africa’s next leader increase on Thursday.
African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank.
In March 2015, Anambra was ranked the most transparent and accountable state in Nigeria, complying with all the set standards in public sector accounting, according to the International Public Sector Accounting Standards (IPSAS).
Nigeria is aiming to hand over the $4.5 billion Ajaokuta steel complex to private operators this year as part of a plan to kick start its industrial and mining industries, Kayode Fayemi, the country’s minister of Solid Minerals Development, said.
These are the global economic realities that will continue to shape African markets in 2016. Strong US dollar. Low oil and commodity prices. Slowing Chinese growth.
Dow Chemical Co plans to triple its revenue from sub-Saharan Africa in the next five years and is investing in offices, local staff and manufacturing plants on the continent to meet that target, its head of the region said.
Despite an overall deceleration in growth in recent years, South Africa leads as the top destination in Africa for inward foreign direct investment (FDI) and shows clear economic potential, according to new research from fDi Markets.
Aliko Dangote, Africa’s richest man, is considering investments in Zimbabwe’s cement, power generation and coal-mining industries as part of an expansion in the southern African nation.
General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola.
Insurance company Sanlam and mining boss Patrice Motsepe’s company Ubuntu-Botho will invest in various industries including mining and financial services.
Tanzania’s ruling party Chama Cha Mapinduzi nominated Works Minister John Magufuli to run for president on its ticket in general elections planned for Oct. 25.
The swearing in of Nigeria’s new president Muhammadu Buhari last week has led to renewed optimism regarding economic progress in the country and new opportunities for the private sector, particularly in infrastructure development, consumer and financial services sectors.
In 1992, one year after the end of the apartheid era in South Africa, the two leaders that would broker the country’s future trajectory appeared together at a forum in Switzerland.
Perhaps the most overlooked feature of the oft-challenged ‘Africa Rising’ narrative is that African businesses are growing in self-confidence and belief in their continental competition rather than looking to the West for validation.
Though Africa has been described as the last frontier market for natural and mineral resources, market trends indicate that it is in fact meeting current needs of the 1 billion plus population and, the future demands of the rapidly emerging middle class consumers, that will drive the next wave of private equity investment on the continent.
Following on from partnerships and dual listings with a number of African capital markets, the London Stock Exchange (LSE) is looking to foster dual listings with the West African regional exchange.
In many ways private equity – with its combination of capital and management expertise – is a perfect fit for Africa. As the scale of Africa’s potential has become recognised among the investment community, private equity has provided an opportunity for those who want to both contribute to, and benefit from, Africa’s growth story.
A couple of years ago, many investors were optimistic about Nigeria and the stock market was booming, buoyed by strong economic growth and government reforms to improve the country.
Angola’s sovereign wealth fund said on Monday it was allocating $1.4 billion to five new vehicles that will invest in sectors such as mining, timber, agriculture and healthcare within the country and elsewhere in Africa.
All telecom companies operating in Tanzania will be listed on the local stock exchange by the end of the year, the country’s deputy communication, science and technology minister said on Wednesday, days after a deadline for them to do so had passed.
Ivory Coast is hoping to achieve double-digit economic growth this year and every year until 2020, Prime Minister Daniel Kablan Duncan said on Tuesday.
The U.S. Commercial Service, the export promotion arm of the Department of Commerce, doubled its presence in Africa over the past year to boost trade with some of the world’s fastest growing economies.
The recent lack of growth in the developed markets coupled with perceived improvements in political and macroeconomic stability, policy certainty, and legal systems in many African countries, as well as Africa’s growing middle class and rise in consumption is leading to increasing interest by foreign companies and institutions in Africa as an investment destination.
Angola’s $5 billion sovereign wealth fund is seeking investments in mining, timber, health and agriculture in order to diversify its asset base and increase returns.
Nigerian companies are turning into foreign acquisition targets as valuations slide with the price of oil, according to a law firm that advised on one of the country’s biggest Eurobond sales last year.
Nigeria and Kenya frequently feature as the top investment destinations in Africa, with Nigeria being the clear front runner. Investors, however, are starting to view East Africa as a combined investment region that could rival the West African giant, using Kenya as a sturdy stepping stone to the wider East African region.
For decades commodity prices have shaped Africa’s economic growth. The continent is home to a third of the planet’s mineral reserves, a tenth of the oil and it produces two-thirds of the diamonds.
Politics may tip the balance as Russia’s Rosatom Corp. and France’s Areva SA (AREVA) prepare to battle it out for South Africa’s planned nuclear-energy project that could cost $100 billion.
This report presents thought-leadership, opinions, and predictions from Senior Partners attached to KPMG offices throughout Africa.
The Africa Finance & Investment Forum 2014 represented something of a landmark for the oldest continent and its plans for the future. Held in Cologne, it was the first such conference to be held in Germany, Europe’s economic motor and a strategic partner in several African ventures.
Some of the largest private equity investors in sub-Saharan Africa are considering expanding into Ivory Coast, a country that is currently experiencing an economic renaissance after years of conflict.
Emerging markets super-bull Mark Mobius has his sights set on a new region: Africa.
The London Stock Exchange is launching an aggressive attempt to increase the number of listings of African companies in the UK, following strong interest from institutional investors in a recent wave of initial public offerings from the region.
Nigeria. What is coming to your mind thinking of Africa’s most populated country?
Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said.
The White House has invited some 50 African heads of state to Washington, DC, this week, presenting a historic opportunity to deepen US ties to the continent.
Aliko Dangote made his fortune by gambling on Africa’s future, repeatedly. For the Nigerian entrepreneur, that gamble has paid off spectacularly.