Tag Archives | Business Day
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.
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.
Exports of South African produced vehicles into Africa is declining due to import levies by some countries on the continent.
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.
Nigerian billionaire businessman Aliko Dangote has sharply criticised SA’s black economic empowerment (BEE) laws, calling them an obstacle to investment from other African states and a brake on intracontinental trade. Mr. Dangote said SA’s BEE laws and policies would have to be reviewed in order to attract more investment from Africa to SA and to encourage all Africans to participate in SA’s economy. Mr. Dangote is listed as number 43 on the Forbes Richest List and is considered to be the richest man in Africa by Forbes Magazine.
Africa’s richest man, Aliko Dangote, planned to invest up to $8 billion (R73bn) to build a Nigerian oil refinery with a capacity of about 400,000 barrels a day by late 2016, almost doubling Nigeria’s refining capacity …
A firm challenge has been set for the 450 companies listed on the JSE in June 2010 to publish an integrated report or explain why they cannot do so. South Africa is the first country to mandate integrated reporting for all listed companies. But one full set of integrated reports later and companies still have a long way to go. Many countries have adopted corporate governance guidelines similar to the King 3 codes, though the drafter himself, Mervyn King, would like to see all capital markets go the route of SA. They may not be ready, but an initial, crucial step would be the adoption of voluntary filing programmes.