South Africa News

Kim Reid, Founder & Co-CEO, Takealot

Africa's most valuable company Naspers ups investment in South Africa's largest e-commerce company Takealot

Naspers, Africa’s biggest ecommerce and digital company, has just invested R960 million (about $69.4 million) in Takealot Online, South Africa’s largest ecommerce company.

Jacob Zuma, President of South Africa

South African Stocks Poised for Long-Term Gains Despite Zuma's Maneuverings: Ryan Hoover, Portfolio Manager, Africa Capital Group

Late last month, South Africa’s increasingly unpopular president, Jacob Zuma, unceremoniously sacked his well-regarded Finance Minister, Pravin Gordhan.

Two Rivers Development, Nairobi, Kenya

Listed Real Estate in Eastern Africa and Beyond: What Next?

East African property markets have demonstrated desirable levels of resilience over the past few years.

Fitch downgrades South Africa's credit rating to junk status

Fitch downgrades South Africa's credit rating to "junk" status

Ratings agency Fitch downgraded South Africa’s credit rating to sub-investment grade on Friday.

Zuma has survived several no-confidence votes in recent years. Credit: Rogan Ward/Reuters/Al Jazeera

S&P downgrades South Africa's credit rating to junk

Credit rating agency Standard and Poor’s (S&P) has downgraded South Africa’s rating to junk status.

President Jacob Zuma is coming under increasing pressure to step down

South Africa unions to Zuma: Time to go

South Africa’s powerful trades union federation Cosatu has called for President Jacob Zuma to step down.

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.

South Africa’s former Finance Minister Pravin Gordhan (Centre) arrives at the parliament to deliver the annual budget speech in Cape Town, South Africa in February. The minister was replaced by President Jacob Zuma on March 31, 2017, as part of a cabinet shuffle that changed 10 of the country’s 35 ministers. Credit: Schalk van Zuydam/AP/The National

South Africa's President changes 10 of the country's 35 ministers in cabinet shuffle

South African president Jacob Zuma faced a widening public backlash from senior members of the ruling African National Congress including his deputy, Cyril Ramaphosa.

Waitresses place a series of orders at the Orbit Place Java House, a chain of Kenyan cafes

East African assets attract private equity interest

Family businesses seek sales amid growth in buyout groups in the region

Nollywood star Linda Ejiofor. Credit: Ike Ude/qz.com

Nollywood is giving the world a taste of true African glamour

Last month the romantic comedy The Wedding Party became the first movie from Nigeria’s growing film industry to break 400 million naira ($1.3 million).

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.

Peter Baird, Managing Principal, African Private Equity, Investec Asset Management

Investec Hires Baird To Lead Africa Private Equity Efforts

International asset manager Investec Asset Management has named Peter Baird as managing principal for its Africa-oriented private equity funds.

Nigeria's President Muhammadu Buhari (L) and Vice President Yemi Osinbajo

The Economist explains: The demand for Nigerian debt

Nigeria’s economy shrank by 1.5% in 2016, its first annual contraction in 25 years.

A woman walks past the London Stock Exchange building in the City of London, Britain, January 16, 2017. Credit: Reuters/Toby Melville

South Africa's Brait suspends LSE listing plan on Brexit uncertainty

South Africa’s Brait SE has suspended plans to list on the London Stock Exchange.

WSJ Africa Bureau Chief Joe Parkinson (Left), Kenya's Central Bank Governor Patrick Njoroge (Center) and Nigeria's Sovereign Wealth Fund's CEO Uche Orji (Right)

Kenya and Nigeria Officials Have Different Economic Outlooks (Videos)

Kenya’s Central Bank Governor Patrick Njoroge and Nigeria’s Sovereign Wealth Fund’s CEO Uche Orji discuss their nations’ growth prospects.

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,.

Khanyi Dhlomo, Founder, Ndalo Media: The biggest enabler for African success is actually not necessarily external: Credit: Red Photographic/WSJ

How to encourage innovation in Africa: Khanyi Dhlomo, Ndalo Media Founder & Ashish Thakkar, Mara Group Founder

Ndalo Media founder Khanyi Dhlomo and Mara Group founder Ashish Thakkar on where the potential is and what’s blocking it.

Oscar Onyema, CEO, Nigerian Stock Exchange

Nigerian Stock Exchange to seek approval for public listing

The Nigerian Stock Exchange plans to seek approval from its members on March 30 to proceed with the process of becoming a publicly listed company.

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme Doughnuts to Open in Nigeria

Krispy Kreme to open twenty shops in Nigeria over a period of five years.

Africa Rising - What Investors Want to Hear

Africa Rising: What Investors Want to Hear (Infographic)

The “Africa Rising’’ narrative has been put on hold, due to a couple of macroeconomic factors impacting the economic growth of the giant countries of Africa.

Mteto Nyati, outgoing CEO, MTN South Africa

MTN South Africa's CEO Mteto Nyati resigns, to be replaced by Motsa

Africa’s biggest mobile phone operator MTN Group said on Tuesday that Mteto Nyati, the chief executive of its South African unit, will be resigning in March and will be replaced by Godfrey Motsa on the same day.

Cyril Collon, General Partner, Partech Ventures

African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)

At Partech Ventures, we have been tracking for the past 3 years the dynamics of African tech investment, to better understand the investment landscape on the continent.

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.

Maria Ramos, CEO, Barclays Africa Group

Barclays and Barclays Africa Group agree on separation terms

Barclays Africa Group today announced that it has agreed terms for operational separation with UK-based Barclays PLC, which is reducing its shareholding in Barclays Africa.

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.

Nairobi Securities Exchange to issue gold ETF

Kenya's Capital Markets Authority approves listing of first ETF

Kenya’s first ETF, which will track the price of gold, will be issued by NewGold Issuer (RF) Limited, which is incorporated in South Africa.

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.

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange SA is seeking deals in Africa as France’s biggest wireless carrier targets the continent as a source of additional revenue growth, according to a company official.

Who takes the throne? Credit: qz.com/HBO

ShowMax is stepping up its pan-African battle with Netflix by putting servers in Kenya

In the battle to become the preferred video content streaming service by a majority of Africans, content servers are the weapon of choice.

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.

Nando's considering IPO

Soon You Could Buy Shares in Nando's

Nando’s Group, the South African fast-food company known for its spicy chicken and fries, is considering a London Stock Exchange IPO, according to people familiar with the matter.

Bastian Gotter, Co-Founder, iROKO Partners

iROKOtv Co-Founder Bastian Gotter leaves the company to invest in African startups

Bastian Gotter is the Co-Founder of iROKO, the VC-backed African entertainment and tech company that has single-handedly changed the face of Nollywood content distribution.

Moussa Faki Mahamat attends a meeting in Chad, in 2014. Credit: theguardian.com/Farouk Batiche/AFP/Getty Images

Chad's Foreign Minister Moussa Faki Mahamat elected African Union Chairman

Chad’s foreign minister has been elected as the new chair of the African Union Commission, pledging to place development and security at the top of his agenda and streamline the organization’s bureaucracy.

Sola David-Borha, CEO, Rest of Africa, Standard Bank Group. Credit: saharaweeklyng.com

Sola David-Borha appointed Standard Bank Group Africa CEO, Yinka Sanni appointed Stanbic IBTC Holdings CEO & Demola Sogunle appointed Stanbic IBTC Bank CEO

Standard Bank Group, Africa’s largest bank by assets, has appointed Sola David-Borha as the CEO (Rest of Africa) of Standard Bank Group effective January 19th, 2017.

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria asks Goldman and Stanbic to advise on diaspora bond debut

Nigeria has asked Goldman Sachs and the local unit of South Africa’s Standard Bank to advise it on the sale of a debut “diaspora bond” targeted at Nigerians living abroad, Stanbic IBTC Bank said on Monday.

Aliko Dangote, Founder & CEO, Dangote Group

How the Dangote Group will become a $100B business

With a track record exhibiting profound resilience and foresight, it comes as no surprise that Dangote Group and its Founder and CEO, Aliko Dangote, are ardent on building the multinational conglomerate into a $100 billion market capitalization business.

In front: South Africa's President Jacob Zuma (L) and AU Chair Nkosazana Dlamini-Zuma (R)

It's time South Africa tuned into Africa's views about its role on the continent

South Africa has variously styled itself as a “bridge” between the North, the global South and Africa as well as a “gateway” into the continent.

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.

South African courier WumDrop is tackling address challenges by delivering parcels to your phone location.

How could Amazon deliver without an address? This startup may have the answer

South African courier WumDrop is tackling address challenges by delivering parcels to your phone location.

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

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

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