Emerging Markets Roundup: Africa

S OUTH AFRICA MOVES CLOSER TO JUNK STATUS WITH DOWNGRADE   By Antonio Guerrero   South Africa’s weakened economy pushed it closer into junk territory, as Fitch Ratings further downgraded its sovereign rating in January.   The agency cut the country’s ...

Emerging Markets Roundup: Africa

G HANA INVESTS IN RENEWABLES   By Antonio Guerrero   UK-based Blue Energy will invest $400 million to build Africa’s largest solar photovoltaic power plant in Ghana.   The Nzema project will produce 155 megawatts, increasing the country’s generating capacity ...

Emerging Markets Roundup: Africa

AfDB SEEK TO REPATRIATE FOREIGN RESERVES   By Antonio Guerrero   The African Development Bank, (AfDB) a regional development bank based in Tunisia, is working to bring a portion of Africa’s $500 billion in foreign reserves held abroad back to the ...

Emerging Markets Roundup: Africa

COMMODITIES BOOM SEES AFRICA OUTPACE GLOBAL GROWTH   By Antonio Guerrero   African economic growth is outpacing the global average for the first time, according to a World Bank report, with such sub-Saharan countries as Sierra Leone, Niger and Angola ...

Emerging Markets Roundup: Africa

INVESTOR FEARS RISE ON MINE STRIKES   By Antonio Guerrero   Violent strikes at South Africa's Marikana platinum mine, operated by UK group Lonmin, could impact investment flows.   Violence mars Marikana mine strikes Photo Credits: MIKE HUTCHINGS / REUTERS ...

Hailemariam To Lead Ethiopia’s Transformation

NEWSMAKERS: ETHIOPIA   By Valentina Pasquali   Plagued by corruption and emerging from three decades of stable but authoritarian government, Ethiopia is undergoing its first peaceful transfer of power after the death, in August, of longtime prime minister Meles Zenawi.   ...

Emerging Markets Roundup: Africa

ZIMBABWE'S BANKS TOLD TO BOLSTER CAPITAL RESERVES   By Antonio Guerrero   With the goal of stabilizing the financial system in mind, Zimbabwe's Reserve Bank has boosted minimum capital requirements for banks by as much as 900%.   Zimbabwe’s banks ...

Country Report: Nigeria

TIME FOR CHANGE   By Antonio Guerrero   Nigeria holds great promise with its massive oil reserves, but endemic corruption, unfettered militant attacks on pipelines and lack of regulatory clarity could halt progress in its tracks.   When the Nigerian ...

Company to Watch: Mr Price / South Africa

RETAILER EXPANDS IN NIGERIA   By Gordon Platt   Mr Price Group has developed a successful retail formula in South Africa that could work well in markets across Africa.   The majority of Mr Price’s 1000-plus stores are in South Africa, ...

Emerging Markets Roundup: Africa

PLATINUM MINING PROJECT PROMISES BIG REWARDS   By Antonio Guerrero   South Africa’s state-owned Industrial Development Corporation (IDC) has entered into a $420 million public-private partnership to develop a mine that could become one of the world’s largest platinum producers over ...