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South Africa Business Fears Political Limbo If ANC Vote Stalls

JOHANNESBURG (Capital Markets in Africa) – South Africa’s main business group fears the country will be stuck in political limbo if infighting causes the ruling party’s elective conference in December not to go ahead. The race to succeed President Jacob Zuma as leader of the African National Congress is widely seen as a head-to-head contest between his deputy, Cyril Ramaphosa, and Nkosazana Dlamini-Zuma, the leader’s ex-wife and former chairwoman of the African Union Commission. The battle has grown fractious…

Ma, Dangote, Blankfein to Meet World Leaders at Bloomberg Event

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LAGOS (Capital Markets in Africa) – As global chief executives wrestle with how to engage with government leaders, a group including Alibaba’s Jack Ma and Aliko Dangote, Africa’s richest man, will convene more than 100 fellow business leaders to meet with dozens of heads of state in September. The Global Business Forum will take place in New York during the United Nations annual General Assembly meetings, Michael R. Bloomberg said today in a statement. Bloomberg is the founder…

Navigating the Business Environment in Africa under the “New Normal”

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LAGOS (Capital Markets in Africa) – Macro-economic instability fuelled by low oil prices and global economic sentiment will continue to be the main driver of business risks across West Africa in 2017. Governance improvements and the embedding of certain democratic practices and norms will limit the scope of potential for deterioration, but challenges will still persist. Cyber-attacks are advancing in nature. Businesses will become increasingly vulnerable until the impact of cyber risks on their operations…

South Africa’s business confidence lowest in 30 years: survey

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JOHANNESBURG (Reuters) – Business confidence in South Africa fell to its lowest in three decades in September, reflecting uncertainty about the outlook for Africa’s most industrialised economy, a survey showed on Wednesday. South African companies are struggling to stay afloat due to sluggish economic growth since a 2009 recession. The South African Chamber of Commerce and Industry’s (SACCI) monthly business index dipped to 90.3 in September from 92.9 in August, its worst showing since July 1985….

Ivory Coast Raises Cocoa Price for Farmers 10% From 2015

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ABIDJAN (Capital Markets in Africa) – Ivory Coast, the world’s biggest cocoa producer, will boost the minimum price paid to farmers for their beans 10 percent from last year. Growers will get a minimum 1,100 CFA francs ($1.86) a kilogram (2.2 pounds) for beans for the main crop starting in October, according to Abdourahmane Cisse, the country’s budget minister. That’s up from 1,000 CFA francs last season. The main crop runs from October to March. “My own view…

Kia Motors to assemble cars in Ethiopia, considers Algeria

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ADDIS ABABA, Capital Markets in Africa: South Korea’s Kia Motors Corp signed a deal with a local company on Thursday to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa. “It is important to penetrate the African market. We are also looking at the prospects of opening similar plants in Algeria and other countries,” Soon Nam Lee, President of Kia’s Middle East and Africa headquarters, told Reuters. Kia and Belayab…

Zimbabwe Cement Industry Demands Dangote Face Import Tariffs

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HARARE, Zimbabwe, Capital Markets in Africa: Zimbabwe’s cement industry has called on the government to impose tariffs on imports from international manufacturers including Dangote Cement Plc of Nigeria, which it says is undercutting local makers of the building material and threatening jobs. The government should impose a tariff of $50 a metric ton on cement made at a lower cost in other countries and then sold in Zimbabwe, the Cement and Concrete Institute of Zimbabwe said in a…

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