Ramaphosa, MTN Targets of Nigerian Bank Forex Investigation

Ramaphosa, MTN Targets of Nigerian Bank Forex Investigation by LIONEL FAULL, SUSAN COMRIE, SAM SOLE, FINANCE UNCOVERED AND AMABHUNGANE President Cyril Ramaphosa could be drawn into a forensic probe initiated by the Nigerian government into alleged foreign exchange violations by banks acting on behalf of SA telecommunications giant MTN. Ramaphosa’s former investment holding company, Shanduka,…

South Africa Escaped Recession in 2017. So What? It’s Still in a Pickle.

Encouraging data give weight to Finance Minister Nhlanhla Nene’s statements on South Africa’s growth forecasts Economic growth accelerated for the first time in four years in 2017, with continued strong recovery in agriculture, giving weight to Finance Minister Nhlanhla Nene’s statements that growth forecasts will probably be revised upwards. Revisions to historical data in combination…

Ramaphosa Set to Fire Malusi Gigaba as SA Finance Minister Before Budget

Speculations are rife that South Africa’s new President Cyril Ramaphosa will reshuffle the cabinet and replace Finance Minister Malusi Gigaba before the 2018 presentation of the budget to parliament on Wednesday. Ramaphosa was sworn in as head of state on Thursday after his scandal-plagued predecessor, Jacob Zuma, reluctantly resigned on orders of the ruling African…

SA Mining Industry Will Smile Under Ramaphosa’s Presidency

 There’s excitement in the mining industry in South Africa. Perhaps, they should be excited because one of their own has just been inaugurated President of the Republic. But, Herbert Smith Freehills partner and Africa co-chairperson, Peter Leon is cautiously optimistic that the changes signaled by newly elected President Cyril Ramaphosa will benefit South Africa’s economic recovery. In a speech to the British Chamber…

Electric Cars and Niche Metals Reviving Enthusiasm and Luring Cash Back to African Mines

Rising commodity prices may have revived enthusiasm for African resources, but it’s unlikely to be the old mainstays of coal and iron-ore pulling crowds next week as the mining industry meets in Cape Town. The electric-vehicle boom and shifting industrial demand have transformed formerly niche metals – from lithium and cobalt to praseodymium and neodymium – into the hot new drawcards of African mining.…

What Do You Know About South Africa’s New International Arbitration Act (2017)?

What do you know about the South African International Arbitration Act No. 15 of 2017? The Act which sailed through the National Council of Provinces in November 2017 and was assented to by the President on December 19th commenced December 20th. The Act regulates international arbitration proceedings and the enforcement of foreign arbitral awards and…

Bloomberg’s Guide to Key Africa Markets in 2018: From Angola to Zimbabwe

  Bloomberg’s Guide to Key Africa Markets in 2018: From Angola to Zimbabwe African bonds outperformed emerging-market average this year Key challenges lie ahead, with IMF warning of credit risks Its local-currency and dollar securities easily outperformed those of emerging markets overall as investors piled into a continent offering high yields and starting to recover…