Tag Archives | South Africa

Mineral Exploration

Africa Brief: Zimbabwe mines, Altech East Africa and courier services






Platinum production in Zimbabwe fell 2.79% last year, according to the latest mining figures released by the Zimbabwe Chamber of Mines. As a result, the revenue generated fell from $538.27m in 2011, to $464.51m last year, representing a 13.7% drop.

In a year characterised by wildcat strikes in SA, which is the world’s largest platinum producer, analysts attribute Zimbabwean platinum mines’ failure to cash in to low international platinum prices and higher mining royalties.

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Zimbabwe land

Africa Brief: Zimbabwe land case and SADC Tribunal











Dispossessed Zimbabwean farmer Mike Campbell was able to take his case to the judiciary in SA because of the Southern African Development Community (SADC) Tribunal decision, pronounced before it was dissolved, which found Zimbabwe to have been in violation of the SADC Treaty. Zimbabwe was in contempt of court for refusing to adhere to that ruling.

“The petitioners, Campbell and Co, sought to have the SADC judgments enforced in a South African court,” says Nicole Fritz, director of the Southern Africa Litigation Centre.

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Business in Africa: Fraud and Corruption











Fraud and corruption will always be at the forefront
of the minds of those looking to invest in Africa. In this regard, the recently published KPMG Africa fraud Barometer for 2011 reported some telling statistics about reported fraud on the continent. The Barometer was developed “to form a bigger picture of fraud prevalence on the African continent”, incorporating data from available news articles on Africa and other designated databases. The Barometer compares fraud reports from the six months ended June 2011 to the six months ended December 2011.

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Africa: A Continent of Diversity and Opportunity











Many JSE companies are seeing Africa as the new frontier and an important source of long-term growth, especially those companies doing business in mature markets. The International Monetary Fund forecast the region to grow at 5.5% both this year and next. By comparison, South Africa’s economic growth rate is forecast at just 2.7%.

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Sustainability Megaforces: Is the insurance industry prepared?











The insurance industry relies on the ability to make informed predictions of future events as the basis for taking actions in the present. increased severity and/ or frequency of weather events, if not adequately accounted for, will mean that claims exceed levels predicted by actuarial models, and premiums will not be set correctly. Figure 2 illustrates the trends in the number of disasters reported internationally per year.

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Is Nigerian Content Act Indigenising the Oil Industry?

Africa Brief: Growth rate, KFC and Zimplats expansions, sub-Saharan Africa inflows, and more











Excluding South Africa, Sub-Saharan Africa is said to grow at 6.6% this year. When including SA’s 30% weighting in the Sub-Saharan Economy, the growth rate falls to 5.4%. President of the African Bank Donald Kaberuka says the dynamic in Africa is good however, there are risks when you consider the global environment.

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157287692

Africa Brief: New border post, Zimbabwe maize production, and more











Due to the long queues at the Beitbridge, Zimbabwe Education Minister, David Coltart has suggested a new border post be considered between South Africa and Zimbabwe. SA Home Affairs Minister Naledi Pandor, is aware of the problem and is working on a solution to improve the situation. The South African Chamber of Commerce has raised concern, but does not feel a new border will solve the current problem.

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Africa Brief: Energy, electricity, coal, hotels, and more











Exxon Mobil, US energy producer intends to search for crude and natural gas in South Africa. Dave van der Spuy (resource evaluation manager at Petroleum SA) believes the level of activity and interest in SA is at its highest. With SA being the continent’s biggest oil importer, international energy companies with new technologies are entering SA. Mozambique is another energy province, with the largest gas finds.

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Africa Brief: Global retailers, Sudan, Malawi, Zambia mining, and more











Last year saw the expansion of global fashion brands expanding into South Africa, due to the increasing consumer culture; Africa attracts investments from international companies. Global retailers are looking for new income streams in SA, as it has a relatively untapped market. This puts pressure on local retailers to shorten their merchandise cycle to remain competitive with the other brands. This means a wider variety for local consumers as more brands expand into SA, which previously had a conservative clothing market.

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Healthcare systems in Africa











This is a summary of the African countries which, in our opinion, are notable for some aspect of their healthcare systems, whether it be rapid uptake of health insurance, high levels of total expenditure or innovative governance in the public sector…

Botswana: A relatively wealthy country, Botswana is one of the four countries in Africa which complied with the Abuja commitment in 2010 by spending more than 15% of its budget on health. Botswana is also notable for the health profile of its private healthcare spending: only 30% of private health expenditure was out-of-pocket, which is good news for health outcomes although the high HIV prevalence rate still holds life expectancy down.

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The business case for cloud computing











Cloud computing has generated significant hype in Africa. But with IT vendors pushing the technology case, few companies have taken the time to look at the value it can offer from a business perspective, says Frank Rizzo, partner in Advisory at KPMG. “With services such as Apple iCloud, Microsoft SkyDrive, and Google Drive popularising the commoditisation of cloud computing, we have reached the point where implementation has become a question for the CEO and not the CIO. Cloud computing is not driven solely by technical experts any more but by business leaders who are looking to leverage cloud computing from an overall business perspective,” says Rizzo.

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Africa Urged to Follow Kenya’s Example

African infrastructure projects receive global recognition











KPMG names six African infrastructure projects among the 100 most innovative global infrastructure projects that make cities liveable and sustainable …

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The 2012 Africa Tax Academy and Transfer Pricing in Africa











The 2012 Africa Tax Academy took place in Nairobi, Kenya, from 9 to 11 July 2012, followed by a client breakfast with presentations by KPMG professionals from different jurisdictions on 12 July 2012.

Approximately 80 delegates attended the conference from countries such as Kenya, Nigeria, South Africa, Uganda, Rwanda, Sierra Leone, DRC, Malawi, Zambia, Botswana, Ghana, Tanzania, but also from Germany and Switzerland.

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High Growth Markets magazine – Unleashing Africa’s potential

Private Equity remains steady











SA’s private equity sector last year shrugged off the global economic uncertainty with funds under management topping a record R115bn, including uncommitted funds of more than R34bn, KPMG said yesterday.

While the sector attracted investors seeking exposure to emerging markets, an executive at KPMG said other sub-Saharan African markets besides SA were drawing global private equity funds to regional opportunities.

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Companies challenged to integrate reports











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.

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91270023

Private equity in SA tops R115bn











SA’s private equity sector last year shrugged off the global economic uncertainty with funds under management topping a record R115bn, including uncommitted funds of more than R34bn, KPMG said yesterday.

While the sector attracted investors seeking exposure to emerging markets, an executive at KPMG said other sub-Saharan African markets besides SA were drawing global private equity funds to regional opportunities.

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