South Africa | - Part 85

South African hedge funds show strength and maturity in 2015

Johannesburg, South Africa (Capital Markets in Africa) — Over the last 12 months, the South African hedge fund industry has gone from strength to strength and there is growth in almost all areas. Preqin’s Hedge Fund Analyst online service shows that since June 2014, the number of South Africa-based funds has increased from 104 to 124, while the total assets managed by South Africa-based hedge funds has increased from just over ZAR41bn to around ZAR66bn….

South African logistics group received ZAR 30 billion loan from the China Development Bank

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Cape Town, South Afric (Capital Markets in Africa) — At the World Economic Forum for Africa Press Conference, the acting CEO of Transnet, Siyabonga Gama, stated the comopany had obtained a loan of ZAR 30 billion (US$ 2 billion) from the China Development Bank to finance the modernization of its aging trains fleet . He added that ZAR 18 billion have already been disbursed to the group by China Development Banke. Also, the duration of the loan is 15 years…

OPEC agrees to keep pumping as fears of a global oil glut persist

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Vienna, (Capital Markets in Africa) – Oil group OPEC agreed to stick by its policy of unconstrained output for another six months on Friday, setting aside warnings of a second lurch lower in prices as some members such as Iran look to ramp up exports. Concluding a meeting with no apparent dissent, Saudi Arabian Oil Minister Ali al-Naimi said the Organization of the Petroleum Exporting Countries had rolled over its current output ceiling, renewing support…

African Stock Market Performance at the end of May, 2015

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Lagos, Nigeria (Capital Markets in Africa):- African stock market performance across the region has remained fairly flat (with merely -0.8% average return) for local investors in the month of May 2015. Figures for the Market Performance Month of May saw the Exchanges record high’s of 4.9% and 4.0% in Botswana and Ghana respectively. Several Markets went the other way recording losses ranging from 0.2% to 6.7% lead by the markets of South Africa (depreciated by 4.0%), Kenya (depreciated by 6.4%) and Namibia (down by…

Standard Chartered will invest Millions to boost retail business says Group Head of Retail

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Nairobi (Capital Markets in Africa): – Standard Chartered will spend “hundreds of millions of dollars” in the years ahead to raise the share of income from its retail business 10 percentage points by 2020, its group head of retail clients said. Karen Fawcett said the lender, which focuses on Asia, Africa and the Middle East, would invest the money in areas such as technology to raise the share of retail business income from 30 percent now….

African economies grew by 3.9% GDP in 2014 amid global and regional shocks

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Abidjan Cote D’Ivoire (Capital Markets in Africa) — African economies registered 3.9% average GDP growth in 2014 compared to the 3.7% in 2013. This reflects resilience to global and regional shocks which affected the continent last year, according to the African Development Bank Group’s Annual Report, which was released Wednesday, May 27 in Abidjan. According to the report, despite the negative impacts of low commodity prices, the Ebola epidemic in West Africa as well as…

South Africa’s Tongaat posts lower full-year earnings

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Johannesburg (Capital Markets in Africa): – South African sugar maker Tongaat Hulett posted a 16 percent drop in full-year earnings on Monday, weighed down by lower sugar output and prices. Tongaat said diluted headline earnings per share for the year to the end of March totalled 826.1 cents compared with 979 cents a year earlier. Headline earnings are the main profit gauge in South Africa and exclude certain one-off and non-trading items. Source: Reuters Africa Business…

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