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Browsing: investment
The funding will see SEACOM grow its broadband cable network and cloud-based product offering in sub-Saharan Africa. Under the new…
PROPARCO and the IFC, are scaling up of renewable energy production in both Kenya and DRC. The two organisations will…
Faulu Bank, a microfinance firm in Kenya, unveils a digital platform for real time cash transfer between banks and their…
Seedstars Capital represents an alternative investment platform focused on supporting emerging fund managers and investing in technology companies in emerging…
IFC and the Sovereign Fund will identify high-impact infrastructure projects in strategic sectors in Morocco. They will work closely with…
Ghana and the UK have unveiled an investor group to help identify mutually beneficial investment opportunities. Target industries are pharmaceuticals,…
The Annual Investment Meeting and Emirates Angel Investors Association agree to turn UAE into a thriving base for startups. The…
The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and…
In terms of the fiscus, South Africa expects to run a deficit of -4.1 per cent in 2023, however, the deficit is expected to narrow for the next 3 years closing 2026 at -3.6 per cent. This demonstrates significant fiscal consolidation.
Over the next 3 years the South African government expects to consolidate its public finances and reduce its deficit by inter alia increasing revenues and or managing or containing costs. According to Investec, “The current fiscal year (2022/23) has seen a substantial boost to nominal (actual) GDP due to high inflation, which has eased both the fiscal debt and deficit projections as a per cent of GDP, although does not boost real GDP, which is the measure of the country’s growth and has the distorting effect of inflation removed.”
Among countries in Africa, South Africa is getting its public financial act together. The country is paying down its debts, inflation has been showing a strong downward trajectory. What remains to be seen is whether this decreasing inflation rate will continue.
Fast food giant, Simbisa Brands Ltd., the firm that controls high-profile restaurant chains across African markets, spurred its planned VFEX listing, notifying investors in a comprehensive roadmap that the deal may be through by December 2, 2022.
Simbisa, which has risen from its Zimbabwean roots to establish a formidable African network, executes its strategy through a string of high-end hospitality brands that include the flagship Chicken Inn, Pizza Inn, Creamy Inn and Bakers Inn, one of the country’s biggest bread producers.
It also holds the franchises for quick service restaurant chain; Rocomamas, Nandos and Steers, along with Galito
In a statement that disclosed Simbisa’s rationale to switch from the ZSE, the firm’s board rallied shareholders to give an emphatic nod to the transaction at an extraordinary general meeting scheduled for November 18, 2022.