Collection troubles and resource dependency hamper African governmental efforts to raise revenue.
While on a road show for US clients, Bryan Leith, chief operating officer of KPMG’s global Africa practice, sat down with Global Finance to discuss the continent’s economic prospects.
UK-based Barclays has reduced its shareholding in Johannesburg-listed Barclays Africa from 62.3% to 50.1% this year and is believed to be seeking to reduce that stake further to around 20%.
What has changed in Africa in the past year? The precipitous drop in commodity prices threatened the progress made during two decades of tremendous growth, driving diversification efforts.
The prolonged downturn in oil and other commodity prices has pushed petrochemical and mining firms out of the Global Finance rankings of the best-performing companies in sub-Saharan Africa this year.
South Africa's growth is impeded by long-term constraints; still, the government deserves credit for tackling reforms.
Foreign-currency bonds offer needed resources but come with heavy risks.
Capital Markets | Regulation
“Nothing will make us deviate or change our course. We are not exiting our operations in any of our African markets,” declared Maria Ramos, CEO of Barclays Africa.
Capital Markets | Foreign Exchange
Locals as well as visitors to Zimbabwe will soon be able to walk into shops and pay for purchases in renminbi.