Richard J. BrookTuesday, 07 September 2010 The Algiers Bourse has long been a shell, with only two listed companies, and both of those illiquid state-owned firms. Now private operator Alliance Assurances is set to list, and hopefully mark the start of a move to modernity on the market.
Friday, 03 September 2010
Wednesday and Thursday saw food riots in Maputo,
the capital of Mozambique, and nearby Matola. By the end of the riots,
and midnight on Thursday, seven people were dead and nearly three
hundred wounded.
François Conradie
Wednesday, 01 September 2010
In bailed-out banks in Nigeria have voted to
oppose the takeover of these institutions by other Nigerian banks,
saying that the prospective buyers are too weak to provide the capital
needed to properly clean up the books.
François Conradie
Monday, 30 August 2010
The Kenyan government has moved to secure guarantees for a number of
renewable energy projects, to ensure that private lenders sign the
necessary cheques. The size of the projects seems excessive, and the
guarantees will put pressure on the country's national accounts.
François Conradie
Thursday, 26 August 2010
On Tuesday 24 August, the NGO Human Rights Watch issued a report drawing
attention to the problems that the tiny island nation could experience
as a consequence of its oil wealth, with estimated reserves of about ten
billion barrels.
François Conradie, Cape Town
Wednesday, 25 August 2010
The Canadian company Potash International seems to be up for sale, and a
bidding war between BHP Billiton, Vale and Sinochem for the producer of
the valuable mineral.
Thursday, 19 August 2010
Nigeria's next presidential elections are scheduled for January 2011,
and presumptive candidates have started lobbying for support. Regional
divisions are coming into play. Meanwhile, there are concerns about the
logistics for the election.
François Conradie, Cape Town
Monday, 16 August 2010
The Democratic Alliance (DA), South Africa's biggest opposition party,
issued a statement on Sunday 15 August confirming that it is to merge
with the Independent Democrats (ID), a smaller opposition party.
François Conradie, Cape TownThursday, 12 August 2010
Les Afriques spoke to Greg Barker, the firm's co-founder and portfolio
manager of the Africa Sustainability Fund, about the countries and
sectors he likes and the future of sustainable development on the
continent.
Tuesday, 10 August 2010
Cosatu, the Congress of South African trade unions, has warned of a
"total shut-down of the public service" as 1.3 million of its members
stay away from work on Tuesday 10 August. The strikes will test the
country, and their resolution will have a major impact on the economy.
François Conradie, Cape Town
Wednesday, 28 July 2010
On Friday 23 July, the Financial Times's City Editor, Mark Kleinman,
reported that HSBC and Standard Charter were exploring a takeover of Old
Mutual's controlling stake in Nedbank.
François Conradie, Cape Town
Friday, 23 July 2010
On 21 July, the fibre-optic broadband service launched in Lagos, made
possible by a 7 200 kilometre cable from Portugal to Nigeria laid by
MainOne Company. The development will make a big contribution to
communication and business in Africa's most populous country.
François Conradie, Cape Town
Thursday, 22 July 2010
On Wednesday 21 July, Sudanese president Omar
El-Bashir travelled to neighbouring Chad for a Community of
Sahel-Saharan States conference. Despite being a signatory to the Rome
Statute, in terms of which it is obliged to arrest any person wanted by
the International Criminal Court (ICC), Chad promised that El-Bashir
would not be arrested.
François Conradie, Cape Town
Wednesday, 21 July 2010
The bail-out of Nigerian banks in 2009 may lead to a consolidation in
the country's fractured banking landscape, as the Central Bank (CBN)
talks about liquidating some of the banks, and others are taken over by
rivals.
F.C, Cape Town
Friday, 16 July 2010
The NNPC had asked for government help to covert ists debts and fund its
operation. The company spokesman denied and said that the government
owes it money.
François Conradie
Thursday, 15 July 2010
After a book and a blockbuster film exposed the violence that often
fuels the diamond industry, watchers hailed the Kimberley Process,
which purports to certify all diamonds as being 'clean', i.e. not from
conflict regions and so not contributing to war. Zimbabwe is a member of
the Process scheme, but some question whether its diamonds should be
certified.
Tuesday, 13 July 2010
Standard Bank was named Africa's top bank by The Banker, a respected US
publication, in its latest edition of the world's 1 000 top banks. This
article takes a look at Standard's 2009 performance and its African
strategy.
Monday, 12 July 2010
While most of Africa joined the globe in
watching and cheering the World Cup, Islamist militants have made
worrying inroads in Somalia and other countries in the region, with some
of their victims actually being targeted for watching the football.
Adama Wade
Translation: François Conradie
Sunday, 11 July 2010
The most beautiful goal of the 2010 World Cup is, undoubtedly, the
faultless organisation of the first Cup in Africa.
François Conradie, Cape Town
Saturday, 03 July 2010
The "progressive" implementation of the East African Community (EAC)
Common Market protocol started today, 1 July. The EAC's member countries
are Tanzania, Kenya, Uganda, Rwanda and Burundi, and the Community has
set up a head office in Arusha.