Standard & Poor’s (S&P) News

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.

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.

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.

Bob van Dijk, CEO, Naspers

Africa's most valuable company Naspers worth less than what it owns (Infographics)

Fifteen years ago, a South African media company invested $34 million in an obscure Chinese Internet developer. Today that stake is worth $88 billion.

Standard Chartered

Standard Chartered Looks Beyond Oil Industry for Angola Growth

Standard Chartered Plc will look beyond Angola’s oil and gas industry to pursue growth. The bank remains committed to Angola even as the country has had to deal with the plunge in crude prices.

Tshediso Matona, former Eskom CEO

South Africa's power utility Eskom parts ways with suspended CEO Tshediso Matona

South Africa’s power firm Eskom said on Monday it had agreed to “amicably” part ways with its chief executive who was suspended pending an inquiry into operations at the struggling utility.

Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN)

Nigeria's central bank orders banks to disclose bad debtors

Nigeria has ordered banks to publish lists of individuals and companies with non-performing loans to curb a rise in bad debt as the industry stumbles amid low oil prices.

Seven Energy

IFC invests $50M in Nigeria's Seven Energy debt issuance

The International Finance Corp. bought almost 13 percent of the debt sold by Seven Energy International Ltd., a Nigerian oil and gas company, with some proceeds earmarked for a pipeline in Africa’s biggest economy.

Where in Africa would you invest $1 million

Expert opinion: Where in Africa would you invest $1 million?

On Wednesday, some of Africa’s most influential investors gathered in Sandton to discuss the continent’s economic future – and, of course, how to profit from it.

Standard & Poor's (S&P)

Rising debt levels at odds with Africa's growth narrative: S&P

Africa is often talked about as a region on the rise, but that narrative is complicated by a trend towards fast rising sovereign debt and deficits, according to ratings agency Standard & Poor’s (S&P).

Boston Consulting Group (BCG)

Six African companies giving international competitors a run for their money: Boston Consulting Group (BCG)

Six local African companies (Discovery Health, Douja Promotion Groupe Addoha, Equity Bank, Guaranty Trust Bank, and Woolworths) are giving their globalised competitors a run for their money in their home markets, according to a new report by the US-based Boston Consulting Group (BCG).

Konrad Reuss, MD, Sub-Saharan Africa, S&P

S&P to start rating more Nigerian and Kenyan companies: Konrad Reuss, MD, Sub-Saharan Africa, S&P

Standard & Poor’s expects to rate a number of Nigerian banks this year and is talking to some Kenyan banks and companies about future credit ratings, its managing director for sub-Saharan Africa said on Monday.

Paul Kagame

Paul Kagame’s Singapore of Africa Economy Rewards Debt: Africa Credit

Fourteen years of Rwanda rule by Paul Kagame, whose forces ended the 1994 genocide that killed at least 800,000 people, is rewarding bond investors with record low yields amid the fastest economic growth in East Africa.