South Africa |

Land Bank Warns South African Expropriation May Trigger Default

JOHANNESBURG (Capital Markets in Africa)- South Africa’s Land and Agricultural Development Bank has warned expropriating farm land without compensation could cost the government 41 billion rand ($2.8 billion) if it’s forced to repay the state company’s debt immediately. The lender has approximately 9 billion rand of debt that includes a standard market clause on expropriation as an event of default, the Land Bank’s Chairman Arthur Moloto said in the company’s annual report on Monday. If expropriation without…

Rand Traders Brace for Turmoil as Turkey Saps Risk Appetite

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Traders are positioning for more turmoil for the rand as Turkey’s financial crisis damps risk appetite among emerging-market investors. The rand’s one-month implied volatility against the dollar soared by the most since December 2015 on Monday. The South African currency plunged by the most in about a decade during Asian trading hours, but has since pared its decline. The yield on benchmark government bonds climbed above 9 percent for…

Investment Case for Listed Property in South Africa

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LAGOS (Capital Markets in Africa) – Listed property has been South Africa’s top performing asset class in the last 16 years. During this time it has returned over 18% per year (in Rand terms) as measured by the Johannesburg Stock Exchange’s (JSE) SA Listed Property total return index. It slightly outperformed the South African industrial sector which returned 17.85% per year during the same period. The returns from the industrial sector were however thanks to…

South Africa’s ANC Resolves to Change Constitution on Land

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party decided to complete a proposed amendment to the nation’s constitution to make it clearer under what conditions land can be expropriated without compensation, prompting the rand to weaken. This brings the African National Congress closer to the populist Economic Freedom Fighters party, after the ANC said earlier that land redistribution will only be done in a manner that doesn’t harm the economy, agricultural production or…

Impala Platinum Miner Weighs Plan to Curb Losses Amid Slump

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JOHANNESBURG (Capital Markets in Africa) – Impala Platinum Holdings Ltd. is facing some tough choices as the South African miner works to stem losses at aging shafts amid slumping prices for the metal. The world’s second-largest producer has already cut 2,500 jobs in the year through June and says there may be more to come. Only three of the 10 shafts at its sprawling Rustenburg mining complex were making money as of March. Things have only…

INTO AFRICA July 2018 Edition – Back on Track: African Mining

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LAGOS (Capital Markets in Africa) – Welcome to the July 2018 edition of INTO AFRICA, a publication with fresh insight into Africa’s emerging capital markets. This month’s edition, titled: Back on Track: African Mining explores emerging mining laws and regulations as well as opportunities across African countries and financing options for mining projects in Africa. Africa is rich in natural resources. It boasts of over 10% of world reserves of oil, about 40% ofgold, 90%…

ANC to Balance White Fear, Black Anger in South Africa Land Push

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JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party has decided to push for the right to seize land without compensation for redistribution to black citizens because it feels that the time has come for the 24-year old democracy to tackle an issue that divides the nation once infamous for a legislated system of racial segregation, a leading politician said. An earlier attempt to take land without paying for it could have jeopardized investor confidence…

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