South Africa | - Part 66

South Africa’s Renewables Market Is the World’s Fastest Growing

Johannesburg, Capital Markets in Africa: South Africa’s renewable industry is looking good for project financiers. The African country’s green power sector had the highest growth year-on-year globally for asset finance at 300 percent, according to Moody’s Corp. It drew $4.5 billion in 2015, the credit rating company said in a report on Friday. It highlighted a drop in renewable electricity prices, the growth of independent power producers and increased participation of institutional investors as credit positive…

South Africa Bank That Gave Zuma Loan Says It Stuck to Rules

Posted on by The Editorial Team

Johannesburg, Capital Markets in Africa: A South African bank that gave President Jacob Zuma a mortgage to settle a Constitutional Court order to repay taxpayers the money spent on upgrading his residence said it sticks to loan processes no matter who the client is. “In granting a loan, the usual processes and conditions apply no matter who the client may be,” VBS Mutual Bank Chief Executive Officer Andile Ramavhunga said in an e-mailed statement on Wednesday. “VBS Mutual Bank…

Investment | China Brewer Said to Mull Bid for $6 Billion SABMiller Units

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LAGOS, Capital Markets in Africa: China Resources Beer Holdings Co., maker of the world’s most consumed beer, is considering a bid for SABMiller Plc’s central and eastern European assets, valued at about $6 billion, according to people familiar with the matter. The producer of China’s Snow beer brand is speaking with potential advisers about a bid, the people said, asking not to be identified as the details aren’t public. A sale process for the assets, which…

Heineken Looks to Premium Brands in South African SAB Battle

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Johannesburg, Capital Markets in Africa: Heineken NV’s recent introduction of Sol Mexican lager to South Africa forms part of a plan to boost its market share in a country dominated by soon-to-be-acquired SABMiller Plc. The Dutch brewer brought Sol to South Africa this month and plans to add more premium brands there, country head Ruud van den Eijnden said in an interview Tuesday. Growth will also be achieved through established brands such as Heineken, Amstel and Windhoek, he…

South Africa Current-Account Gap Narrows as Rand Boosts Exports

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Johannesburg, Capital Markets in Africa: South Africa’s current-account deficit narrowed to 3.1 percent of gross domestic product in the second quarter after the nation’s exports received a boost from the lagged effect of last year’s rand weakness. The gap on the current account, the broadest measure of trade in goods and services, narrowed from a revised 5.3 percent in the first three months after the nation recorded its first quarterly trade surplus in a year, the Reserve Bank…

South Africa’s Economy Diagnosis: Welcome To Stall Speed

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LAGOS (Capital Markets in Africa) – Growth in South Africa is likely to hit stall speed in 2016, at a barely positive 0.3%Y, by our estimates. Yet even as a Brexit-induced global growth shock further complicates the outlook, we see currency prospects as less concerning. The SARB is on hold for the foreseeable future, in our view. A revised GDP data series combined with our views of economic stagnation in several developed markets in 2017…

South Africa’s Jonas Worried State Firms Being Used Politically

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Johannesburg, Capital Markets in Africa: South African Deputy Finance Minister Mcebisi Jonas is “worried” about the impact of a perception that state institutions are being used to advance political agendas, saying the issue is a distraction to efforts to expand the economy. “Political behavior does sometimes impact negatively on certainty” and “times are tough, we should be focused on growing the economy,” he said in an interview on Johannesburg-based Talk Radio 702 on Tuesday. The National Treasury has…

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