South Africa

South Africa | Partnerships Can Avert South Africa Junk Rating, Radebe Says

Posted on by The Editorial Team
South Africa | Partnerships Can Avert South Africa Junk Rating, Radebe Says

Johannesburg, South Africa, Capital Markets in Africa — South Africa’s government is confident that its partnerships with business and labor can help it avert a credit-rating downgrade to junk, according to Jeff Radebe, Minister for Planning, Performance, Monitoring & Evaluation in the Presidency. “We are not envisaging a downgrade because we have put in measures as a government working with our partners in the private sector and labor to ensure that we stay the course,” Rabede told…

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Infrastructure | South Africa Secures $16.5 Million for National Internet Rollout

Posted on by The Editorial Team
Infrastructure | South Africa Secures $16.5 Million for National Internet Rollout

Johannesburg, South Africa, Capital Markets in Africa — South Africa has set aside 250 million rand ($16.5 million) to start the first phase of broadband roll-out across Africa’s most industrialized economy and will approach the private sector, banks and development institutions about additional funding, the telecommunications minister said. Construction will start in three months following various delays, Siyabonga Cwele said in a phone interview on Monday. The total cost of the project could rise to as much as…

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South Africa | Moody’s places South Africa’s Baa2 ratings on review for downgrade

Posted on by The Editorial Team
South Africa | Moody’s places South Africa’s Baa2 ratings on review for downgrade

Johannesburg, South Africa, Capital Markets in Africa — New York, Moody’s Investors Service has today placed the Baa2 bond and issuer ratings of the government of South Africa on review for downgrade. Also placed on review for downgrade were South Africa’s (P)Baa2/(P)P-2 shelf and MTN program ratings. The decision to place the ratings on review was prompted by the continuing rise in risks to the country’s medium-term economic prospects and to its fiscal strength, notwithstanding…

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Investing in Africa’s Equity: Balancing Risk, Return and Regret

Posted on by The Editorial Team
Investing in Africa’s Equity: Balancing Risk, Return and Regret

LAGOS, Nigeria, Capital Markets in Africa: Broad-based performance of African equities in 2015 was something many investors like to forget, if they do not regret their investment decision in the first place. Investors following the herd and buying into the asset class for the first time in the heydays of 2013 can be regularly found in the latter category. Others, who remained on the sidelines so far, can now buy great African businesses at much…

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S&P sees South Africa’s banks up against growing credit risks

Posted on by The Editorial Team
S&P sees South Africa’s banks up against growing credit risks

Johannesburg, South Africa, Capital Markets in Africa — South Africa’s banks will find it tougher to turn a profit as the economy remains feeble for the next few years and credit risks rise, credit ratings agency Standard & Poor’s said on Thursday. Consumers, squeezed by rising interest rates, unemployment of around 25 percent and high debt levels, are a growing headache for lenders in Africa’s most advanced economy which is forecast by the government to…

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Investment | Ford Invests US$167 Million in South Africa, Create 1200 jobs

Posted on by The Editorial Team
Investment | Ford Invests US$167 Million in South Africa, Create 1200 jobs

Johannesburg, Ghana, Capital Markets in Africa — Ford Motor Company will invest 2.5 billion rand (US$167 million) in the U.S. automaker’s South African operations to start production of the Everest sport utility vehicle and create about 1,200 jobs. The company’s plant in Pretoria, the capital, will have capacity to build 10,000 Everests a year and will be the fourth production hub for the SUV after factories in Thailand, India and China, Dearlove, Michigan-based Ford said in…

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South Africa’s Reserve Bank Raises Repo rate by 25 basis points in March

Posted on by The Editorial Team
South Africa’s Reserve Bank Raises Repo rate by 25 basis points in March

Johannesburg, South Africa, Capital Markets in Africa — The South Africa Reserve Bank’s Monetary Policy Committee (MPC) raised the Repo rate by 25 basis points to 7.00%, as a result of inflation rise concern.  This takes the cumulative increases to 2.00 percentage points since the MPC started tightening policy in January 2014. Regarding inflation, the MPC commented that since the previous MPC meeting in January, headline inflation has exceeded the upper end of the target…

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