The Editorial Team |

Zuma Faces Fresh Attacks From South African Opposition Parties

JOHANNESBURG (Capital Markets in Africa) – South African opposition parties resumed their offensive against President Jacob Zuma after failing to remove him through a motion of no confidence in parliament, urging the nation’s top court to force the legislature to discipline him for failing to uphold the constitution. The Constitutional Court on Tuesday began hearing a lawsuit brought by the main opposition parties to order the parliamentary speaker to convene a committee to investigate whether Zuma’s refusal…

Traders Lured by High-Yield `Sweet Spot’ in Emerging Markets

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Traders are gaining confidence in nations that pay the steepest local interest rates. Investor anxiety, as measured by one-month implied currency volatility, dropped to multi-month lows last month in Russia, South Africa and Brazil — countries with some of the most generous yields on their local government debt. Those nations are benefiting from demand for their bonds as interest rates in the developed world stay suppressed amid a pickup…

Largest Africa Economies Need More Growth to Cut Joblessness

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. In South Africa, GDP expanded 2.5 percent from the previous quarter, ending the second recession in almost…

Nigeria’s Economy Expands to End the Worst Slump in 25 Years

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigeria’s economy expanded in the second quarter, ending its worst slump in 25 years as agricultural and oil output increased. Gross domestic product of Africa’s largest crude producer grew 0.55 percent in the three months through June from a year earlier compared with a revised 0.9 percent contraction in the first quarter, the Abuja-based National Bureau of Statistics said in an emailed report Tuesday. The median of 10 economists’…

South Africa Exits Recession in Second Quarter as GDP Rises 2.5%

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s economy exited its second recession in almost a decade in the three months ended June 30 after agricultural output surged. Gross domestic product increased an annualized 2.5 percent in the second quarter compared with a revised decline of 0.6 percent in the previous three months, the statistics office said in a report released on Tuesday in the capital, Pretoria. The median of 21 estimates compiled by Bloomberg was for growth…

Bell Pottinger Booted From PR Body Over South Africa Conduct

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Bell Pottinger LLP, the public-relations firm started by an adviser to Margaret Thatcher, has been thrown out of the U.K. industry body in an unprecedented ruling after an investigation found its work on behalf of the Gupta family in South Africa had stoked racial tensions. Bell Pottinger ran a potentially divisive social-media campaign aimed at highlighting economic inequality in South Africa along racial grounds and targeted wealthy white individuals…

Fairfax Is Said to Back AfriSam to Clinch African Cement Deal

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Fairfax Financial Holdings Ltd. is prepared to inject as much as 5 billion rand ($386 million) to pay off bank debt owed by AfriSam Group Pty Ltd. and help South Africa’s second-biggest cement producer clinch a tie-up with larger rival PPC Ltd., according to two people familiar with the matter. The money from the African unit of the Canadian insurer will be used to repay bank loans and allow AfriSam to…

« 1 … 652 653 654 655 656 … 1,078 »