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Banking / Investment in Southern Africa

  • Investec appointed to manage $670M fund for infrastructures in Africa

    SOUTH AFRICA, 2016/05/16 South African assets manager Investec Investment management has been appointed to manage a $670 million fund of Emerging Africa Infrastructure Fund (EAIF), a public-private partnership backed by the governments of UK, Holland, Sweden and Switzerland to finance infrastructure projects in sub Saharan Africa.
  • The Central Bank of Swaziland (CBS) gives $72 000 in drought aid

    SWAZILAND, 2016/05/12 The Central Bank of Swaziland (CBS) has donated $72 000 towards the alleviation of drought affecting almost 300, 000 people in the country.About $35 000 will go into food aid while $37 000 will fund the provision of clean water and sanitation to communities that are hardest hit by the drought, according to CBS Governor Majozi Sithole.
  • Zimbabwe: Govt Improves Investment Climate

    ZIMBABWE, 2016/04/28 GOVERNMENT is aiming to have reduced the period it takes to register a company to 15 days from the current 30 days as part of efforts to improve the doing business environment under the second 100 day Rapid Results Framework, which is being spearheaded by the Office of the President and Cabinet in partnership with the World Bank. Under the framework, Government set targets which include; reducing the starting a business period from the current 30 days to 15 days by May 13, 2016 and to have a final draft of the Companies Bill by May 13, 2016 under the Starting a Business and Protecting Minority Investors cluster. The results will be reviewed at a workshop set to be held next month in Harare. The purpose of the review, which tallies with the speech made by President Mugabe is to update stakeholders on the developments and evolution made so far in improving the business environment for both domestic and foreign investment in Zimbabwe.
  • Zimbabwe: ‘Foreign banks wont close over indigenisation laws’

    ZIMBABWE, 2016/04/04
  • Namibia: Businesswoman Leads Development Bank Board

    NAMIBIA, 2016/02/08 The Development Bank of Namibia (DBN) early this week announced the appointment of Tania Hangula as member and Chairperson of its Board of Directors. Tania Hangula, an entrepreneur, joins a line of businesswomen who before served on the Board of DBN in a quest to make notable contributions to economic transformation on a national scale. Hangula, with extensive government experience in the public sector, is currently the Executive Director for Business Development at Arandis Mining Services. She played a significant role in transforming the company from a family owned business to a mainstream company. She is as well a managing member of Umoja Trading Enterprises, which is a company with interest in the Namibian petroleum industry and other business sectors.
  • Zimbabwe: MFIs Bank On Development Projects

    ZIMBABWE, 2016/02/08 Micro-finance institutions' (MFIs) total loans amounted to US$173,3 million as of September 2015 with 53,73 % channelled towards development and productive sectors, an official has said. Zimbabwe Association of Micro-finance Institutions (Zamfi) executive director Godfrey Chitambo said a significant chunk of MFIs' loan books were focused on developmental projects, dismissing long-held notions that most MFIs' loans were fee-based and mainly for consumption. "The consolidated figure for the whole micro-finance sector was US$173,3 million as at 31 September. The Reserve Bank of Zimbabwe (RBZ) says we have put 53,73% of the total loans into developmental sector or US$93,12 million," Chitambo said.
  • Five tips for spotting overlooked African investment opportunities in 2016

    AFRICA, 2016/01/10
  • South Africa’s banks on solid ground

    SOUTH AFRICA, 2015/12/27 Bucking the trend of the country’s subdued economy, South Africa’s banks have again posted solid earnings, as they continue to strengthen their position through improved risk management practices and robust capital adequacy levels. Early October saw credit ratings agency Moody’s revise its outlook for the country’s banking system from negative to stable for the coming 12 to 18 months, signalling a additional positive estimate for the industry. Ratings rationale South Africa’s banking system had maintained a high level of return on equity, Nondas Nicolaides, a vice-president and senior credit officer with Moody’s, told media in October, while its Tier 1 capital ratio of 11.6% as of June provided a sufficient buffer against any increased credit losses or further economic headwinds.
  • Private equity: Why Old Mutual is betting on growth of cycling and golf

    SOUTH AFRICA, 2015/12/11 This month Old Mutual Private Equity bought a 70% stake in MoreCorp, the parent company of South Africa’s major retailers of golf and cycling sporting equipment, The Pro Shop and Cycle Lab. It as well houses affiliate businesses such as golf driving ranges and cycling parks. According to Jacci Myburgh, chief of Old Mutual Private Equity, the investment manager sees potential for both sports in South Africa. This despite a reported decline in golf in the US due to changing lifestyles and incomes. “Yes, in the US golf has in recent years been declining. But in Asia and China, for instance, it has grown completely aggressively in recent years. So I guess we look at South Africa and see both some emerging-market characteristics and some emerged-market characteristics,” he highlighted.
  • Economic Commission for Africa and the African Development Bank Jointly Launch Two Reports

    AFRICA, 2015/11/15 "Major economic evolution is possible in Africa and can lead to development in the standard of living but we must work on structural transformation so that Africans can benefit from their economies," declared Mr. Germaine Kambinga Katomba, Minister of Industry in the Democratic Republic of Congo during the joint launch of the Mutual Review of Development Effectiveness Statement and the African Competitiveness Statement. Mr. Katomba said Africa has improved its competitiveness and has reduced inequality and poverty but its focus should remain on transformation that will have a tangible impact on these factors. Despite the increase a lot of African economies experience, gender inequality, a fact which slows increase and productivity, persists, he said.