Features | - Part 201

`Gupta Leaks’ Emails Set to Show Family’s South Africa Influence

JOHANNESBURG (Capital Markets in Africa) – Two South African news organizations plan to publish a series of stories about the influence of the Gupta family in the country after they obtained thousands of emails they say exposes dealings that allegedly include influence over government and state company decisions. Scorpio, the investigative unit of the Daily Maverick, and the amaBhungane Centre for Investigative Journalism have access to as many as 200,000 emails and other documents about the work…

Industry 4.0 and IoT: Transforming the Manufacturing Industry

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – A massive change is coming in the way that manufacturing does business, ranging from the design and manufacturing of goods to how we service customers. Industry 4.0, otherwise known as the ‘4th Industrial Revolution’, along with IoT (Internet of Things) is central to digital transformation in the manufacturing industry. Creating a significant level of manufacturing agility is key to making it possible for customers’ needs, to be aligned with…

South Africa Removes Eskom CEO Molefe After Bungled Rehire

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa will remove Brian Molefe as chief executive officer of Eskom Holdings SOC Ltd. less than three weeks after his controversial return to the state power utility. Public Enterprises Minister Lynne Brown will appoint an acting CEO within 48 hours, after a committee of cabinet ministers asked by President Jacob Zuma to review Molefe’s reinstatement found that the decision was incorrect, she told reporters in Cape Town on Wednesday. Brown has asked the…

Miners Frozen Out as South Africa Readies Empowerment Rules

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Mining companies in South Africa have been frozen out of consultation over regulatory changes that could dilute shareholders, raise costs and impose new levies to fund community development. South Africa’s Cabinet last week approved a new draft of the country’s Mining Charter and Mining Minister Mosebenzi Zwane has promised it will be gazetted within weeks. Yet while labor leaders have been consulted on the long-delayed new rules, the Chamber of Mines,…

Mutinies `Humiliated’ Ivory Coast, Parliament Speaker Says

Posted on by The Editorial Team

ABIDJAN (Capital Markets in Africa) – A series of mutinies by soldiers in Ivory Coast demanding payments for supporting President Alassane Ouattara humiliated the West African nation, according to National Assembly Speaker Guillaume Soro, who once commanded the troops as a former rebel leader. “I can only note that we are despised,” Soro, 45, said in an interview Sunday at his residence in Abidjan, the commercial capital. “It’s a humiliation for us — the state, the president, myself…

Majority of South Africa’s ANC Want Zuma to Resign, Poll Shows

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma’s public approval rating has reached an all-time low and most members of his ruling African National Congress want him to resign, according to an opinion poll released two days after he survived a second bid to oust him. Almost two-thirds of eligible South African voters want Zuma to quit, the survey released Tuesday by research company Ipsos found. About 54 percent of ANC supporters say the president should…

HSBC Sees Buying Opportunity in South Africa Amid Zuma Turmoil

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – While some stock investors may choose to flee South Africa as political turmoil engulfs President Jacob Zuma, HSBC analysts argue the noise around the embattled leader and his ruling party makes it a good time to buy. That’s because a pick-up in the South African economy and a favourable commodity price cycle as China, the biggest consumer of metals, avoids a hard landing are positive for the local market. In…

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