Browsing: South Africa

• Africa’s hospitality sector has matured in ways that not only meet but anticipate the desires of modern travellers.
• By embracing responsible tourism, fostering local community interactions, and providing avenues for health and wellness, Africa is redefining what it means to travel meaningfully.
• Africa’s lower cost of living is making it an attractive destination for digital nomads.

Africa’s hospitality sector has long offered unique experiences and the 2025 travel trends show a continent aligning in unique way to tap changing preferences of holidaymakers from different source markets across the world.

By February this year, an estimated 150,000 European tourists had visited South Africa. The succeeding months look promising as this year’s United Nations Tourism Report says there is increasing interest in East and West Africa holiday destinations by holidaymakers from Europe.

At the moment, tourists from Britain and German are the trailblazers with their changing values and preferences setting the tone …

• Graphite mining firm Pula Group sues South African billionaire Patrice Motsepe for $195M.
• Motsepe’s ARM mining faces breach of non-complete contract by investing in Australian firm Evolution Energy Minerals near Pula’s graphite project.
• ARM denies all claims, maintaining that they ‘considered’ but did not breach contract.

South African billionaire Patrice Motsepe is facing a $195 million lawsuit in Tanzania following allegations of a breach of contract by his mining companies in the East African country. The high profile case is being heard in Tanzania’s Commercial Court and is one of the biggest suits before the corridors of justice in recent years.

Patrice Motsepe owns a number of mining heavyweights including African Rainbow Minerals (ARM), African Rainbow Capital and ARCH Emerging Markets. He also has shares in Tanzanian mining company Pula Group.

In the roiling legal showdown, Pula Group is accusing billionaire Motsepe of breaching a 2021 non-compete contract by …

• Transition finance is funding dedicated to decarbonizing hard-to-abate and emissions-intensive sectors, such as steel and cement manufacturing.
• Companies in these sectors must prepare for an orderly transition, as failure to act will bring immense risk in a decarbonizing world economy.
• Nurturing a thriving transition finance market is critical to mitigating systemic economic and financial risks.

The transition finance market provides a unique opportunity for Africa to leapfrog to low-carbon technologies and business models, which will address climate risks and enhance the continent’s global competitiveness.

Though lacking a universal definition, transition finance refers to funding dedicated to decarbonizing hard-to-abate and emissions-intensive sectors, such as steel and cement manufacturing.

It is key to overcoming financial barriers to sustainability in the industries essential for economic development yet major contributors to greenhouse gas emissions. Companies in these sectors must prepare for an orderly transition, as failure to act will bring immense risk in a …

• Global economic growth will emanate from powerhouse BRICS economies over the next five years as per the IMF predictions.
• The ten BRICS nations comprise more than a quarter of the world economy and almost half the global population.
• China will contribute most significantly to global growth over the next half-decade, with its 22 per cent share outpacing all G7 countries combined.

The countries comprising BRICS— Brazil, Russia, India, China, and South Africa, with five new members—are an informal grouping of emerging economies hoping to increase their sway in the world order.

The BRICS group has become a major political force in the last two decades, building on its desire to counter Western influence in global institutions.

BRICS’ 2024 expansion has come with a range of geopolitical implications. It forms a rising economic and demographic heft: the ten BRICS nations comprise more than a quarter of the world economy and almost …

• Financing by Venture Capital Firms (VC) is the leading source for injecting capital into startups, accounting for 29 percent of the deals.
• Findings show that venture debt is becoming a crucial funding tool, especially for climate tech startups with limited access to traditional equity financing.
• The survey notes that to support this growth, investments in digital and energy infrastructure are essential.

Kenya is emerging as a leader in sourcing capital for its agricultural technology and food startups across the African continent. A large portion of capital for African startups still comes from foreign countries, with approximately 60 per cent, coming from international sources, primarily the United States and the United Kingdom.

On the continent, however, most investors are concentrated in Kenya, Nigeria, and South Africa, where innovation and funding activity are most prominent. Large-scale investments in solar energy solutions and precision agriculture partly drive Kenya’s dominance in the sector.

Read …

• Kenya solidifies its position as East Africa’s tourism hub, with Nairobi chosen to host the Africa Youth in Tourism Innovation Summit for 2025, 2026, and 2027.
• The summit, which draws hundreds of innovators, government leaders, and tourism experts, will boost Kenya’s post-COVID tourism recovery.
• Organized by TEAMS Africa, the event underscores Nairobi’s growing prominence on the global tourism stage following a successful edition in Namibia.

Kenya, East Africa’s travel and tourism industry hub, has yet again cemented its position in the hospitality sector after the capital Nairobi was picked to host the Africa Youth in Tourism Innovation Summit and Challenge (AYTIS) for the years 2025, 2026, and 2027.

This feat further reinforces Kenya as a tourism destination of choice as the industry continues to register growth post the Covid-19 economic fallout.

AYTIS is a platform that is fashioned to promote and uplift innovative investors within the dynamic tourism industry in …

• The latest Stanbic IBTC Bank Nigeria PMI shows most companies continued to report less demand, attributable to an increase in the cost of products.
• Nigerian industries reported the sharpest rise in input costs and output prices in six months.
• High pump prices, transportation, and materials for manufacturers continued to hurt businesses in the month under focus.

Inflation in Nigeria

Rising inflationary pressures in Nigeria hit businesses hard at the close of the third quarter, with selling prices increasing by the sharpest margin in six months. The country’s private sector reported marginal job opportunities in September, the lowest in the previous three months.

According to Stanbic IBTC Bank Nigeria PMI, most companies continued to report less demand, attributable to an increase in the cost of products amid thinning incomes. Findings show that business confidence dipped in September and was the second lowest level on record, only just above July.

“Nigeria’s …

• Jamie Dimon embarks on a strategic journey in October seeking to grow the US banking giant’s footprint in Africa.
• This will be Dimon’s return to Africa after seven years.
• The lender’s CEO will be touring Kenya, Nigeria, South Africa, and Ivory Coast.

Jamie Dimon, CEO of JPMorgan Chase, is set to visit Africa in mid-October, marking his first trip to the continent in seven years. The head of the largest U.S. lender, with assets exceeding $4.1 trillion, will visit key markets, including Kenya, Nigeria, South Africa, and Ivory Coast, according to sources familiar with the matter.

Dimon’s visit comes as JPMorgan aims to expand its presence in Africa, a continent ripe for investment opportunities, where both sovereign debt and corporate deals are becoming increasingly attractive to global banks.

With the bank already operating in South Africa and Nigeria, this trip signals JPMorgan’s intent to deepen its foothold in African markets, …

• Leaders of Africa’s big economies such as South Africa and Kenya are in Beijing seeking loans for big infrastructure projects.
• Kenya, for instance, is eager to secure additional financing to complete stalled BRI projects.
• In return, analysts say China is keen on creating avenues for accessing minerals and market opportunities for their finished products.

This week, the city of Beijing will be hosting a gathering that could shape the future of Africa’s economic landscape for years to come. The Forum on China-Africa Cooperation (FOCAC) is set to welcome a delegation of African leaders eager to secure substantial financing for key infrastructure projects back home.

Amidst intensifying global competition and shifting economic dynamics, this year’s China-Africa summit promises high-stakes discussions.

The Beijing Summit comes at a critical moment not only for Africa but also for China and the broader international community. Over the past decade, China has solidified its position as …

• South African Johann Rupert has overtaken Dangote, becoming Africa’s richest person in a move that highlights the tectonic shifts sweeping across Nigeria and South Africa’s economies.
• While Rupert’s wealth soared, Dangote’s fortune took a gut punch, contracting by $1.7Bn this year to $13.4Bn.
• Richemont, with its portfolio of luxury brands, operates in a global market that is less vulnerable to the economic woes of any single country unlike the Dangote Group.

The crown for Africa’s richest man has left Nigerian industrialist Aliko Dangote to South African luxury goods icon Johann Rupert. For over ten years, Aliko Dangote seemed unassailable, with his name often being synonymous with wealth, increasingly representing a new breed of modern-era industrialists, and power in Africa.

In the latest disclosures according to the Bloomberg Billionaires Index, however, South African Johann Rupert has overtaken Dangote, becoming Africa’s richest person. This change underscores some of the tectonic shifts …