South Africa News

Jabu Moleketi, incoming Chairman, Vodacom

Vodacom names Moleketi as Chairman

South Africa’s Vodacom Group said on Thursday it has appointed non-executive director Jabu Moleketi to succeed Peter Moyo as the mobile phone network operator’s next chairman.

Africa's consumer data opportunity is being tackled by startups

Africa's consumer data opportunity is being tackled by startups

The Peter Drucker management aphorism, “You can’t manage what you can’t measure,” is a favorite of Yannick Lefang, the founder of Kasi Insight, an integrated marketing research firm operating in seven African countries.

Shoprite Holdings - An African consumer powerhouse

Shoprite Holdings - An African consumer powerhouse: Peter C. Thoms, CFA, Founder, Africa Capital Group

Shoprite Holdings Ltd., the South Africa-based supermarket chain, is our single largest holding in the retail industry in our Africa investment strategy.

Jacob Zuma, President of South Africa

South Africa falls into second recession in a decade

South Africa has fallen into recession for the first time in eight years after economic growth shrank by 0.7% between January and March.

Addis Ababa, Ethiopia

Africa's economic growth in 2016 was driven by East Africa

While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP growth.

Jes Staley, CEO, Barclays

Barclays to surrender control of Africa unit with £1.6bn sale

Barclays has been given regulatory approval for the sale of its remaining stake in its Barclays Africa Group, according to a unit of the business.

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.

A family enjoying an injera meal at a restaurant in Addis Ababa. Photograph: Boaz Rottem/Alamy/The Guardian

From chefs to musicians, talented 're-pats' come back to build a modern Ethiopia

His dream is to show the world the glories of Ethiopian cuisine, to preserve its rich traditions and to make his fellow citizens eat better.

Invest in This Walmart of Africa?

Invest in This Walmart of Africa?

The Wall Street Journal recently featured Walmart’s operations in Africa. The article revealed that Walmart had a $2.4 billion stake in South African retailer Massmart going back to 2011.

Strive Masiyiwa, Founder & Chairman, Econet Wireless Group

Zimbabwean billionaire Strive Masiyiwa's Econet appoints former Vodafone executive to run its Neotel unit

Zimbabwean billionaire Strive Masiyiwa’s Econet Wireless Global Ltd. unit Liquid Telecom has appointed former Vodafone Group Plc executive Kyle Whitehill to head up South African internet provider Neotel and oversee the company’s expansion plans.

Lagos, Nigeria

Uber and its rivals are struggling to keep both drivers and riders happy in Lagos

It was only a year ago that Uber declared that its Lagos market was potentially bigger than its London market.

Wizkid

How Nigeria's Wizkid fashioned a new sound that won global appeal

He has a staggering seven nominations at the Billboard Music Awards and will come to the UK to headline festivals this summer.

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.

Nairobi, Kenya

Private equity set to boom in Africa, says Baker McKenzie & the Economist Corporate Network

Africa looks set for a bright future on the private equity front with activity on the rise, according to a new report which predicts that around a billion dollars could be invested in the next five years.

Nigerians would rather have a .com web address than .ng—and not just because it’s cheaper. Credit: AP/George Osodi/qz.com

Nigerians would rather have a .com web address than .ng - and not just because it's cheaper

On the internet, Nigerians are opting for more global identities through web addresses.

Shameel Joosub, CEO, Vodacom

South Africa's Vodacom to buy 35% Of Kenya's Safaricom from parent Vodafone

Southern African telecoms giant Vodacom Group will buy a 34.94% stake in Kenyan operator Safaricom – known for its ground-breaking M-Pesa mobile money system.

afaricom hopes to spread across Africa. Credit: Reuters/Noor Khamis

Safaricom is planning to expand M-Pesa mobile money across Africa

Safaricom is planning to take its successful mobile money service M-Pesa across Africa after building a dominant home base in Kenya and presence in its East African neighbors.

Mmusi Maimane, Leader of South Africa's Democratic Alliance (DA)

South African opposition leader says coalition will beat ANC in 2019

The leader of South Africa’s opposition Democratic Alliance, Mmusi Maimane, said on Friday it could win the 2019 election with the help of other parties as the African National Congress becomes increasingly divided under President Jacob Zuma.

Gerald Gondo, Business Development Executive, RisCura Africa. Credit: afsic.net

African fixed income investments coming into their own: Gerald Gondo, Business Development Executive, RisCura Africa

Given the continued global search for yield and growth in an increasingly low-yield world, debt markets in Africa should and will attract increasing attention from institutional investors.

FIFA confirms nine places for Africa at 2026 World Cup

FIFA confirms nine places for Africa at 2026 World Cup

Africa could have as many as 10 teams competing at the 2026 World Cup after the allocation for places at the expanded 48-nation competition was ratified by the FIFA Council during their meeting in Bahrain.

Malusi Gigaba, Minister of Finance, South Africa

'No chance in hell' opposition will remove Zuma, Finance Minister says (Video)

South Africa finance minister says only ANC can decide on Zuma. Opposition parties have called for no-confidence motion.

Media Eghbal, Head of Countries' Analysis, Euromonitor International. Credit: LinkedIn

Top 3 Largest Markets in Sub-Saharan Africa (Audio): Media Eghbal, Head of Countries' Analysis, Euromonitor International

Sub-Saharan African economic growth is expected to pick up in 2017 after reaching the lowest level in 22 years in 2016.

African private equity exits hit record high in 2016

African private equity exits hit record high in 2016 (Report): EY & AVCA

The number of exits achieved by PE firms in Africa is trending upwards, evidenced by a record number of exits in 2016.

Rob Shuter, CEO, MTN Group

MTN's new CEO starts job committing to investment in largest markets of Nigeria and South Africa

First-quarter sales rose 7.1 percent boosted by Nigeria and Iran. Carrier still has ‘work to do’ to meet full-year targets

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.

Mthuli Ncube, Head of Quantum Global Research Lab

Here are the top & bottom 10 investment destinations in Africa, according to Quantum Global (Infographic)

Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab.

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut Enters Ethiopia in Latest Expansion Into Africa

Pizza Hut is set to open three outlets in Ethiopia this year, becoming one of the first international restaurant chains to enter Africa’s second-most populous country.

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.

Ismail Ahmed, Founder & CEO, WorldRemit

WorldRemit Africa revenue to double by 2020 on mobile money, says Founder & CEO Ismail Ahmed

Higher-paid African expatriates sending cash to home countries. Money-transfer company has Facebook backer Accel as investor.

Johannesburg Stock Exchange

The Case for Bargain Hunting in South Africa

Charles Roth, of Thornburg Investment Management, has made the case that markets have over-reacted to the recent political shake-up in South Africa, driving asset prices below their underlying value.

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.