South Africa |

Is South African Clothing Retailer Edcon Too Big to Fail?

JOHANNESBURG (Capital Markets in Africa) – South Africa’s national power utility’s woes have threatened to shut down industries, while the flagship airline has received repeated bailouts to keep it afloat. Now, a scramble to help a retailer that sells school shoes and fast fashion suggests it, too, may to be seen as too big to fail. Edcon Holdings Ltd. has 30,000 employees, a supply chain that includes 750 companies and floor space that accounts for a…

Goldman Cheers as Rand Heads for Best-Ever Start to a Year

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The rand’s flying start to 2019 may be just the beginning, according to Goldman Sachs Group Inc. The South African currency is heading for its biggest January gain against the dollar since Bloomberg started compiling the data in 1999. And with expected volatility near an eight-month low, traders are discounting local stumbling blocks in coming months, including a budget speech, ratings review and election. The rand has been buoyed by a more dovish Federal Reserve…

For Black South Africans, Land Seizure Is a Question of Justice

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JOHANNESBURG (Capital Markets in Africa) – As the land-seizure debate divides South Africa and threatens to spook investors, for many black citizens the issue isn’t about farming — it’s about justice. President Cyril Ramaphosa says his ruling party plans to amend the constitution to permit seizing land without compensation to address the inequities of laws during white-minority rule that at one time put 87 percent of South Africa’s land in the hands of whites. The goal is…

Africa’s Biggest Fund Manager Suspends Key Officials

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s Public Investment Corp., the continent’s biggest money manager, said it has suspended two employees after an investigation into a transaction with Ayo Technology Solutions Ltd. The PIC suspended Fidelis Madavo, the head of listed investments, and Victor Seanie, an assistant portfolio manager, the Pretoria-based fund manager said in a statement. Madavo gave evidence Tuesday before a commission that’s probing allegations of impropriety at the institution, saying there was…

Nedbank Sees Short-Term Rally, Longer-Term Pain for Rand in 2019

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JOHANNESBURG (Capital Markets in Africa) – The rand’s wild ride isn’t over, according to Nedbank analysts Reezwana Sumad and Walter de Wet. A slowdown in global growth, an escalation in the trade war, an uncertain Brexit and higher global interest rates are just some of the risks the currency will face this year. Nedbank base case sees rand in range of 14-15 per dollar in 2019 From a technical perspective, the USDZAR could rally toward 13 in the…

No Looking Back for S. African Rand as Bears Lose Conviction

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JOHANNESBURG (Capital Markets in Africa) – Rand bears are on the retreat as South Africa’s currency heads into 2019. The currency got off to a blistering start to the year, adding 3 percent amid receding worries over the U.S.-China trade war and the Federal Reserve’s second thoughts about policy tightening. And in a sign investor are leaving last year’s 14 percent slump behind them, some bearish indicators back at levels last seen before Turkey’s meltdown in August….

South African Open: Betting Tips for Golf

Posted on by The Editorial Team

For the calendar year of 2018, there are just two European Tours left to happen in the game of Golf, and they are both scheduled to occur in the beautiful country of South Africa. The coming week will see Johannesburg hosting the South African Open. Where Will The Matches be Played? You can find the action happening at the Randpark Golf Club in Johannesburg. Interestingly it is also going to be the first time since…

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