The Editorial Team |

South Africa mining assets up for sale should go to local companies: minister

LONDON (Reuters) – Anglo American and other companies looking to sell some of their mining assets in South Africa should sell to national champions, or companies owned by local communities and by their workers, South Africa’s mining minister said on Monday.Anglo American is looking at selling some of its coal assets in South Africa and has been considering options for its Rustenburg platinum mines.â€œAt the moment, for example, Anglo American is looking to dispose of…

South Africa expects to start granting shale licences later this year

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LONDON (Reuters) – South Africa’s mining minister said on Monday he expected to start issuing shale exploration licences later this year.”At the moment we are going through the consultation process (with stakeholders such as communities),” Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House extractive Industries in Africa conference.”We should finish the consultations by the middle of this year and that will enable us to issue licences.”Earlier in the day, Royal Dutch Shell…

South Africa’s rand softens ahead of current account data

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JOHANNESBURG (Reuters) – South Africa’s rand was slightly softer against the dollar early on Tuesday with scope to weaken further should a central bank report show a wider-than-expected current account deficit.The local unit tends to be hit harder than its peers when investors bail out of emerging markets which offer higher yields but are perceived to carry greater risk.At 0632 GMT the rand traded at 12.4180 to the dollar, down 0.19 percent from where it…

Tanzania budget spending seen flat in 2015/16

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NAIROBI (Reuters) – Tanzania’s government budget is expected to stay unchanged in 2015/16 from projections of the current fiscal year due to a sharp fall in financial aid flows to east Africa’s second-biggest economy, according to a budget guidelines document.Donors have withheld more than three-quarters of $558 million of promised budget support to one of Africa’s biggest per capita aid recipients in the current fiscal year 2014/15 following allegations of high-level graft in the country’s…

Italians increasing investment in Ethiopia

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Ethiopia has seen an increased Italian appetite for investment in infrastructure, agriculture, mining, manufacturing, energy and tourism, according to an EthiopianHerald report in AllAfrica. Italian businesses have been engaged in about 200 investment projects in Ethiopia since 1994 with investments worth 6.2 billion birr ($304.15 million US). Ethiopia wants the relationship to get stronger still, said Ethiopian Foreign Affairs Minister Dewano Kedir at the Ethio-Italy-Greek Trilateral Investment and Business Networking Forum, held recently in Addis…

Kenya’s Standard Group 2014 profit up 8 pct on advertising boos

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NAIROBI (Reuters) – Kenyan media company Standard Group posted an 8.4 percent rise in pretax profit for 2014 due to growth in print, TV and radio advertising.The publisher of Kenya’s oldest and second-largest daily paper, the Standard, and an operator of a radio and TV station, said profit before tax climbed to 326 million shillings ($3.6 million), while revenue nudged marginally lower.Standard Group said it was optimistic about 2015 and wants to tap into Kenya’s…

Frontier Markets Debt May Dodge Fed Bullet

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Sovereign debt issuance from frontier markets this year may not reach last year’s record levels but new bonds are still likely to be warmly received by investors, says Steffen Reichold, a portfolio manager at Stone Harbor Investment Partners, which manages around $45 billion in frontier- and emerging-markets debt. With the U.S. Federal Reserve likely to begin raising interest rates later this year, countries are feeling pressure to issue debt while yields are still relatively low, Reichold says….

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