Browsing: South Africa

Mergers and acquisitions worth US$52B were completed in South Africa during the first half of 2021, with the value of deals growing by 958% from 2020 with the tech sector in the lead according to Refinitiv Data that provides financial markets and infrastructure data . According to Digest Africa, the value of mergers and acquisitions in the African tech ecosystem in 2018 was US$504M with 24 out of the 39 deals taking place in South Africa making it the country with the most mergers, acquisitions and exits among the KINGS countries. …

• Afreximbank has identified intra-African trade as a critical factor for unlocking Africa’s economic potential.
• A conference will run alongside the exhibition and will feature high-profile speakers and panelists addressing topical issues relating to trade, trade finance among other sectors.

In a bid to reiterate its commitment towards promoting the trade agenda in Africa, PAC Capital Limited ‘PAC Capital’ (PACCapitalLtd.com), a member of PanAfrican Capital Holdings Group, has concluded plans to sponsor the 2021 Intra-African Trade Fair (IATF) event organized by African Export-Import Bank (Afreximbank).

The company said the sponsorship draws from the continent’s renewed drive to promote its Trade Sector.

According to the organizers, the hybrid event, which will hold from 15-21 November 2021 at Durban in South Africa promises to focus on the newly-launched African Continental Free Trade Area (AfCFTA) – a single market for goods and services across 55 countries, aimed at boosting trade and investment.…

Gone are the days where an eight to five job was the order of the day.

Millennials have flipped the script and are pursuing careers we never thought would be regarded as being sustainable.

This trend has now landed on the shores of South Africa where young people are breaking out into new career paths. 

One such career path is Forex Trading. I am sure you have come across flashy social media posts with young, rich and trendy individuals in luxurious settings. This type of individual drives the latest German automobiles are draped in designer brands and eat at the trendy places in town. Welcome to the life of South African forex traders and we are going to take a look at the top 10 richest Forex Traders in South Africa. 

Jabulani Ngcobo

Jabulani Ngcobo is a charismatic socialite and is known as Cashflow in his circles. This popular businessman …

• The interactive and networking event is expected to unite African and Global energy stakeholders.
• With over 1.5 trillion cubic feet of natural reserves, Equatorial Guinea represents one of the continent’s biggest hydrocarbon markets.
• The AEC is a strong advocate for the continent, and through AEW 2021, has emphasized Africa’s position in global energy dialogue

The Equatorial Guinea’s Ministry of Mines and Hydrocarbon has all reason to smile as they gear up preparations to represent the country as the diamond sponsor at the high-profile African Energy Week 2021.

In a press statement sent to the newsroom, the African Energy Chamber (AEC) confirmed that the country’s Ministry of Mines and Hydrocarbon’s (MMH) will be the diamond’s sponsor.

The highly anticipated 4-day event of the African Energy week (AEW)2021 will take place in Cape Town, South Africa between the dates of 9th-12th this month.

The interactive and networking event is expected to …

In the US, cheap and accessible shale gas is rapidly displacing coal. And in China, concerns about poor air quality and related health issues have caused demand for coal to fall three years in a row, from 2014 to 2016. So is coal demand about to decline globally? Is coal headed for the ash heap of history? Such a development is unlikely.”

The relegation of coal to the dustbin of energy sources, the Boston Consulting Group (BCG) does not believe is likely. They are not the only ones who hold this view.

McKinsey & Company, another highly regarded consulting company, does not believe coal will not have a role in the energy mix of the world going forward. They are not as blunt in expressing their views as their counterparts at the BCG however. McKinsey & Company featured an article on their website proclaiming that the adoption and development of …

Financial technology (FinTech) is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial sector.

In an area that traditionally suffered limited access to financial services such as Credit, insurance, and banking Financial technology [FinTech] has aided in accelerating financial inclusion in this sub-Saharan Africa region.

While the bell has long been chiming for businesses to rapidly adapt, harness the power of data and streamline their digital processes, COVID-19 reprioritized the need for these capabilities. It made these elements of digital strategy essential, and at a frightening pace.

The Fintech sector in Africa has since rapidly emerged with more and more startups coming up as compared to other years. As consumers avoided touching cash or point of sale devices, digital payment usage increased dramatically and continues …

• The multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.
• The Lesotho Highland Development Authority will implement the part of the project that falls within Lesotho’s borders.

The board of directors of the African Development Bank Group has approved a loan of $86.72 million to co-finance the second phase of the Lesotho Highlands Water Project.

In a statement, AfDB said the multi-phase project will provide water to the Gauteng region of South Africa and generate hydroelectricity for Lesotho.

The project entails harnessing the waters of the Senqu/Orange River in the Lesotho highlands by constructing a series of dams for the mutual benefit of the two countries.

The Trans-Caledon Tunnel Authority, a state-owned entity in South Africa charged with financing and implementing bulk raw water infrastructure projects, will use the funds to construct the Polihali Dam and reservoir, a 38 kilometer-long water transfer …

Commenting on Africa’s participation at the conference and the continent’s development in general Egypt’s representative at Expo 2020, Ahmed Maghawry Diab, who is also an official from the country’s Ministry of Trade and Industry said, “…the world has started to look at Africa and rediscover it…the continent has a lot of difficulties, but it has also started to develop.”

Another optimist for the continent’s development and what it has to offer is Dr. Levi Uche Madueke, Head of the African Union (AU) Strategic Partnerships Office and AU Commissioner General for Expo 2020 said, “…Africa is undergoing a dynamic socio-economic and political transformation. There is a lot happening on the continent but the world is yet to hear all about it. It is time to take charge of Africa’s narrative and reclaim its rightful place in the global arena.”…

When it comes to the forex market, failing to plan is planning to fail. The more strategies you master, the more likely you are to consistently profit.

The foreign exchange market is the largest financial market in the world, experiencing a daily trading volume of more than $ 6 trillion.

Forex trading is the process of speculating on currency prices to potentially make a profit. Currencies are traded in pairs, so by exchanging one currency for another, a trader is speculating on whether one currency will rise or fall in value against the other.

The value of a currency pair is influenced by trade flows, economic, political and geopolitical events which affect the supply and demand of forex. This creates daily volatility that may offer a forex trader new opportunities.

The daily forex trading in South Africa is estimated to be around $19 million and the South African rand is …

In a statement issued today, the United Arab Emirates [UAE] flag carrier Emirates has announced its plans to Increase flights from South Africa to 28 weekly flights starting next month.

This is good news to investors, business community and tourists as Emirates will provide more options for those wishing to visit Dubai or travel to one of the airline’s other 120 destinations across the world.

Furthermore, IATA’s latest world transport statistics showed that Emirates was the largest airline in the world during the unprecedented year of 2020. Over the 12-month period, the UAE national airline carried 15.8 million passengers.

While still a far cry from the numbers of 2019, Dubai-based airline Emirates handled nearly 1.2 million passengers at its hub over July and August.

This is close to triple the digits of 402,000 customers during the same period in 2020. Meanwhile, the airline has used the incentive of the pandemic …