Tag Archives | growth
Illovo Sugar reported a 43% rise in headline earnings per share to 189.6c for the year ended March. Illovo delivered a record production of sugar cane from its own farms of 6.5-million tons, while independent fanners also did well. Between Illovo’s own farms and independent farmers, nearly 15-million tons of cane was crushed. And they’ve produced 14% more sugar from that cane than the year before with sugar production of 1.75-million tons.
KPMG Angola works with some of the most prominent companies, both private and public, in every relevant economic sector, providing auditing, tax, accounting, business advisory, financial advisory and IT advisory services. KPMG Angola’s main assets are its people, in-depth experience and reputation and the firm is committed in contributing to Angola’s economic and social development, through its services, its focus on people and development of knowledge, and commitment to the communities.
The development of sustainable urban infrastructure is one of the greatest challenges of today. Urban growth is placing enormous pressure on existing infrastructures and the ability of governments to cater for all citizens in terms of housing and services. Innovative thinking is needed to help African cities keep pace with urban growth – important considering that more than a third of African inhabitants reside in cities.
Mega Cities Africa Conference and Expo – the most attractive forward thinking investment and future-focused urban planning event, is officially sold out due to a profound demand for participation and attendance!
The KPMG Africa Conversation Series was launched to create a platform where we could ‘host’ panel discussions aimed at Pan African business issues. As a leading audit, tax and advisory firm, KPMG is well positioned with a broad base of expertise, to share insights drawn from business, government, and academia in order to better understand the African context.
Investment in Africa, and developing the perception of Africa as a promising investment destination, is key to the continued growth, development and success of the region …
By virtue of their combined size, BRICS nations represent 45 percent of the world’s workforce. But of this workforce a large number are unemployed or unemployable. For BRICS countries, as for Africa, the challenge is how to find ways to develop the skills of the workforce so that is more efficient and productive, to educate and train the unemployed so that they become employable, and – most importantly – to create meaningful jobs for them to fill.
Since BRICS’ inception, enormous opportunities have arisen for trade and investment within and through its member countries. China is currently South Africa’s biggest single-nation export market and South Africa is China’s biggest trade partner in Africa. India-South Africa bilateral trade is expected to reach US$15-billion by 2015, up from $11-billion in 2011.
Africa is the second fastest growing region globally, and as the economies of the African continent continue to grow, it’s important that governments support sustainable growth to create jobs, tackle inequality, and lift their people out of poverty. The theme of the World Economic Forum on Africa 2013 is “Delivering on Africa’s Promise” – apt given Africa’s growing middle class and the global demand for Africa’s resources.
Africa will continue to be one of the largest Foreign Direct Investment destinations and will retain its position of having at least six of the fastest growing countries in the world …
Africa Brief: South Africa and African growth, Zimbabwe investment, Motsepe Guinea investment plans and more
Global investors are looking for new ways to participate in Africa’s growth success. The International Monetary Fund’s (IMF’s) latest World Economic Outlook expects that sub-Saharan Africa will grow 5.6% this year and 6.1% next year. If these projections are realised, sub-Saharan Africa will surpass Asia as the world’s fastest-growing region next year. It is not surprising that rapid growth is occurring in the poorest countries. What is surprising about Africa’s present rapid growth performance is that it is spread across a large number of countries.
As the mature economies of Europe, America and Asia continue to struggle, the eyes of the world have started to focus onto the wealth of opportunity that can only be found in Africa. And rightfully so. Right across the great continent, we are witnessing rapid rates of urbanization and population growth which, in turn, is creating one of the fastest growing labour forces and consumer markets in the world.
The World Economic Forum (“WEF”) is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.
To many, Africa is a land of mystery and danger; a place where development is needed and investment is scarce; a complex patchwork of countries, cultures and societies. But to a growing number of infrastructure developers and investors, Africa is quickly becoming one of the hottest and most valuable emerging markets for infrastructure in the world.
Consolidated Infrastructure Group (CIG) said yesterday it had delivered strong results for the six months to February, largely due to renewable energy project work and increased spending on electrical infrastructure in Africa. CIG — through its main subsidiary Consolidated Power Projects (Conco) — is the largest turnkey developer and installer of high-voltage electrical substations and overhead cables in sub-Saharan Africa. Mr Gamsu said Conco had performed well over the past six months, securing a healthy 17% increase in its order book to R2.1bn from R1.8bn.
Rapid investment growth had made SA the ninth-leading destination for clean energy investment among the Group of 20 (G-20) of the world’s developed and emerging economies, after coming in last in 2011. Clean energy investment in SA is likely to remain strong in coming years as the country implements its relatively new renewable energy tender programme, which has initiated 28 projects already.
The West African nations of Burkina Faso and Niger expressed satisfaction yesterday after the International Court of Justice set-tied a border dispute that dated back to French colonial times. In a highly technical ruling, the International Court of Justice in The Hague demarcated the territory of the two countries in an area that stretched for about 380km, more than half the length of their border.
he standing committee on finance agreed yesterday to ask Finance Minister Pravin Gordhan to appear before it to provide more detail on the R900 million loans reportedly extended to Zimbabwe to assist with its upcoming national election. There are three main issues that urgently need to be clarified: the motivation for the loan, the terms of the repayment and any conditionality attached to it.
It took Kenyan lender KCB Group less than a year to break even after opening in tiny Burundi, a country better known for explosive violence than explosive growth. KCB’s success highlights the hunger for financial services that the biggest local banks are turning regional to tap. While there is an average of pretty much one deposit ac¬count for every South African, according to the latest World Bank data that falls to fewer than 220 accounts per thousand people in Burundi, a 2012 survey showed.
African investors were “quite nervous” about the appetite for African investment from SA, despite the JSE dwarfing most African exchanges, JSE CEO Nicky Newton-King said at the Association for Savings and Investment SA (Asisa) conference in Durban.
A global management shake-up at Toyota Motor has hit African shores, with local Toyota chief Johan van Zyl called in to head the new position of CEO of Toyota’s operations across Africa. Toyota has been restructured into two main businesses. There is Toyota Number One, which is the developed markets (the US, Europe and Japan), and Toyota Number Two, which are the developing markets. Dr van Zyl will take control of product planning, production and sales on the continent.
The wind of change has hit the African continent and economic recovery is on its way. Many institutional investors have woken up to the African call to realise the potential of this continent.
Kofi Annan, former Secretary General of the United Nations, pointed out that although the Africa-wide growth rate of 5.5% was impressive, more had to be done as the poor quality of leadership in Africa risks hampering the continent’s rapid economic growth. Following the World Economic Forum Africa Regional Summit which took place in South Africa in May 2011, world leaders went back to their respective countries with a new frame of mind.
Investing in Mauritius offers a safe and business-friendly location for the investor community and, with its cosmopolitan and bilingual heritage, it is the ideal stepping-stone for investment …
Africa is no longer just a curiosity, it is a big source of profit. Boasting GDP growth of more than 5% over the past decade, a population of over 800 million and a total purchasing power of 1.9 trillion US dollars. With growth of any financial services sector really intertwined with that of any economy, it’s not hard to see the appeal that this sector, and investing in it, offers. Once this investment gets made, it then triggers a vicious circle where financial services plays a critical role in unlocking Africa’s full potential.
In this edition of Invest Africa, the focus is on the East African country of Kenya. The panel identifies key challenges and opportunities when it comes to investing in the country.
Kenya is regarded a regional hub for trade and finance in East Africa and many large corporations have the Africa headquarters in Nairobi. Continued economic and political transformations are essential in order for Kenya to maintain this status. Kenya boasts advanced markets and high market adoption rates. Technological advances are significant — fast adoption of applications. Increased interaction with customers and stakeholders through social media — revolution on its own, social media cannot be ignored.
Accra, Lusaka and Luanda have been identified as the African cities with the highest potential for growth over the next 5 years. The growth rates were developed taking into account historical and projected future data.
These factors include economic data, governance levels, infrastructure and ease of doing business. Accra’s high growth rate is a result of its growth in gross domestic product per capita and growth in household consumption, ease of doing business and strong regulatory environment.
In a world that is looking for alternative investment destinations, Africa is well-positioned as an emerging market and represents a wealth of opportunity for investment and growth. The world is eager to do business in Africa. However, in order for the continent to secure its place in the global economy, properly developed infrastructure that can support business development across the continent, needs to be established first. Infrastructure challenges are a deterrent to investment.
The 22nd World Economic Forum (WEF) took place in Addis Ababa, Ethiopia themed ‘Shaping Africa’s Transformation’. The Forum hosted over 700 delegates from around the world who discussed and debated some of the issues required to drive Africa’s growth agenda.
With the ongoing financial turmoil in traditional investment markets such as the United States and Europe, investment and expansion into Africa was at the top of the forum’s agenda. The forum highlighted the fact that there are huge opportunities for great investment returns in Africa and there was a specific focus on integrating and expanding Africa’s capital markets.