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The biggest issue facing business today is how to grow in a low growth economy. This is the challenge facing the G20 leaders when they meet in Brisbane later this week. Against that backdrop, corruption has a staggering impact on economic growth. At $3 trillion or around 5 percent of global GDP, if corruption were an industry, it would be the world’s third largest.
Famous Brands, the owner of brands such as Debonairs and Steers, has ambitious expansion plans for oil-rich African countries such as Nigeria, Ghana and Angola. The Economist Intelligence Unit predicts that by 2030, Africa’s top 18 cities could have a combined spending power of $1.3-trillion.
Standard Bank-owned asset manager Stanlib has set up operations in Ghana through the acquisition of the Stanbic Investment Management Services division. It is also pursuing an asset management acquisition in Nigeria, which it hopes to close in the first half of 2015.
South African banks and construction companies have been expanding activities in the rest of Africa, where energy is one of the fastest-growing sectors. The $900m of debt and equity project finance for the Kpone Independent Power Plant and associated infrastructure in Ghana was closed by financiers and industrialists, including several South African banks.
The return of Pizza Hut has a lot of potential to grow says analysts. It has just opened a store in honeydew and is planning on expanding to Boksburg, Midrand and Soweto. Many analysts say that by increasing the competition pizza companies won’t do as well anymore however they are all positive about growth says one analyst so they still will see returns.
Zimbabwe’s efforts to revive the economy using proceeds from the tourism industry has failed as tourist arrivals stagnated in the first half of the year, with arrivals only increasing by 1 percent compared with the prior year. This growth was supported by the increase in arrivals from Europe, Germany and the UK.
Western Union launched Nigeria’s first outbound remittance payment service, which is expected to boost business growth in the country.
Exports of South African produced vehicles into Africa is declining due to import levies by some countries on the continent.
A meeting of Nigeria-South Africa Chambers of Commerce to be hosted in Lagos will discuss Africa’s competitiveness and ways of boosting intra-African trade
Mobile technology which allows clients to send cash with their telephones, has transformed business In East Africa and is now spreading to Europe.
Delta International Property Holdings, the first JSE listed property fund offering investors direct access to high growth markets in Africa, is targeting properties in Ghana and Nigeria, with an acquisition pipeline of $200m having been identified.
Negotiators for southern African states had agreed a new trade pact with the EU that would give the countries a bigger market for food exports, South Africa’s Trade and Industry Department said on Friday.
French beverage giant Castel, which bottled its first batch of Ethiopian wine this year, is helping change the way outsiders view the country.
Africa Brief: Mwana Africa mulls restarting diamond mine, Farming output key to African progress and more…
Mwana Africa was studying the viability of restarting underground operations at the Klip-springer diamond mine in South Africa as it broadened its resource portfolio and expanded its gold and nickel operations in Zimbabwe, the company said yesterday.
Cameroon has cut some of its costly fuel subsidies, a move that will please international donors calling for reforms, although similar moves have been reversed in the past due to the threat of protests against subsequent price rises.
Africa Brief: Global investors losing out on Africa, Harare will not rush to return to its currency and more…
Global investors are missing great opportunities by not considering Africa for investment, with opportunity costs of up to $1.5bn being faced by those not investing in emerging markets.
According to Marriott’s growth vision, the hotel chain is expecting a 4-6% increase in existing hotels and a 4-5% increase in new hotels.
Africa Brief: African growth offers wide opportunity, network upgrades drive electronic test equipment and more…
The growing populations and economies of Africa allow South Africa to increase their returns faster if they supply products to Africa.
Africa Brief: Gabon: Talks to exploit iron ore begin, Tsogo Sun goes high end in Nigerian hotel market and more…
Gabon has opened talks to develop the 1 billion ton Belinga deposit and will launch a tender process in 2016. Belinga is one of the world’s largest untapped reserves. However mining there will not be easy as the deposit is separated from the coast by hundreds of kilometres of rainforest.
Middle East airlines are benefiting from the fact that African nations are not taking advantage of the increase in air travel demand.
Calgro M3 Holdings, the listed affordable housing company, anticipates further growth into the African markets after making its first venture beyond South Africa’s borders into Namibia with the Otjomuise project in Windhoek.
IHS Holding, a telecommunications infrastructure company, buys and manages the cell towers of mobile network operators. The company said last week it had raised a further $130m which will be used to accelerate its plans for expansion into new and existing markets.
The Nigerian economy surpassed South Africa’s as the largest on the continent after its gross domestic product (GDP) data were overhauled for the first time in two decades.
Barclays Africa Group is looking to dispose of about R400m assets this year as part of its strategy to exit noncore activities and reduce risk to revenue. The retail and business banking unit is looking to dispose of investment properties while the head office has a number of assets classified as property within corporate real estate services that are classified as held for sale.
Offshore oil and gas surveys are taking place in hopes that this will attract new explorers such as Royal Dutch Shell. It plans to hold a licensing tender next year once Soma Oil and Ga
The World Bank is likely to approve the funding of the expansion of the Inga hydro-electric dam in the Democratic Republic of Congo according to a bank official.
Africa brief: Mustek explores partnerships with Huawei in Africa; rolling blackouts stall SA economy; and more …
Mustek explores partnerships with Huawei in Africa MUSTEK, which announced on Friday that it would […]
Africa Brief: New Swazi airport stands idle as citizens count cost; Standard Bank new rules put Angolan unit in black; and more…
SWAZI King Mswati III seems oblivious to descriptions of his new R3 billion airport as a “vanity project”. Opening the facility this week, he named the airport after himself.
Africa Brief: Sanlam moves into Nigerian insurance market, Shell to drill for oil off coast of Namibia and more…
Zambia planned to spend $385 million (R4.2bn) to modernize the capital city’s main airport and turn Lusaka into a regional aviation hub, President Michael Sata said yesterday Sata said in a statement that the government would redesign Kenneth Kaunda International Airport to handle 4 million passengers a year.