PRETORIA, July 21 – South Africa’s Reserve Bank left its repo rate unchanged as expected on Thursday, saying a forecast that inflation would now breach its upper target level by year-end was balanced by risks to fragile economic growth.
Category: business
African business agenda: 25-29 July
WHAT TO WATCH NEXT WEEK Monday, 25 July Kenya Equity Bank’s H1 – Equity Bank of Kenya posts its results for the first-half of this year. The bank is expected to post growth in profits, boosted by its transaction model in a growing economy as well as operations in neighbouring markets. (0600)
The 'new rich' will keep Africa's wealth
There was an 8.3% increase in the number of high net-worth individuals (HNWI) last year. The 10.9 million dollar millionaires — each with at least $1-million to invest — boast assets in the region of $42.7-trillion. This is according to the World Wealth Report 2011, distributed by Capgemini and Merrill Lynch Global Wealth Management.
Standard Bank to launch in Senegal
A new bank is to open in Senegal in October 2011, Les Afriques newspaper reports.
Standard Bank Looks to Angola, Nigeria for capital
Standard Bank Group Ltd., Africa’s largest lender, said it will use the profit from the sale of its Troika Dialog stake to make acquisitions in Africa, where it has identified Nigeria, Angola, Ghana and Kenya for expansion.
Africa Taps New Trade and Investment
India, Turkey, South Korea and Brazil are emulating China’s push to boost trade with Africa, eroding the market share of the continent’s traditional European and North American trading partners, according to the 2011 African Economic Outlook.
CSP Project Developments in Algeria
Algeria is by far the largest country of the Mediterranean. Over 70% of its area are South of 20° latitude. According to a study of the German Aerospace Agency, Algeria has the largest long term land potential for concentrating solar thermal power plants. For further information about the Algerian power sector and CSP opportunities download […]
Tunisia: TuNur solar energy exports project grows
The company developing solar projects “Nur Energy Ltd.,” announced Tuesday, the acceptance of technical terms for linking its Tunisian solar energy exportation project “TuNur” to the Italian power network.
Kenya, Uganda shillings stay under pressure
NAIROBI, July 7 – Kenya’s and Uganda’s shillings are likely to come under pressure against the dollar next week, while Tanzania’s steadily weakening currency may take brief respite after unusually stiff central bank intervention.
Kenyan police fire people to disperse food protest
NAIROBI, July 7 – Kenyan police fired tear gas to disperse people protesting in the capital on Thursday against high food and fuel prices and a shortage of maize which has enraged many in east Africa’s biggest economy.