South Africa commits to stronger trade links with Mozambique

South Africa commits to stronger trade links with Mozambique

South Africa commits to stronger trade links with Mozambique

South African firms should take advantage of the recovering Mozambique economy, according to the South African High Commissioner to Mozambique, Mandisi Mpahlwa. Mr Mpahlwa said “The Mozambican economy is in the process of recovering from the challenges that it experienced last year. The government has not only committed to ensuring that the expected economic growth of 4.6% for 2017 is…

Oil prices continue to impact Angola

Oil prices continue to impact Angola

Oil prices continue to impact Angola

Fitch Ratings has affirmed Angola’s long-term foreign-currency issuer default rating (IDR) at B with a negative outlook, citing the challenging adjustment of the heavily commodity-dependent Angolan economy. It said the authorities have resisted pressures for the currency to weaken further since April 2016 after previous devaluations and the tight fiscal stance has prevailed, but foreign currency is in short supply,…

Zambia outlook stable on improving growth prospects

Zambia outlook stable on improving growth prospects

Zambia outlook stable on improving growth prospects

S&P Global Ratings has revised its outlook on the B long-term foreign and local currency sovereign ratings on Zambia to stable from negative. At the same time, the B long-term and B short-term sovereign ratings were affirmed. The transfer and convertibility assessment remains at B. The ratings agency said the stable outlook balances an improving macroeconomic picture against a number…

Boost for business training

Boost for business training

Boost for business training

Young entrepreneurs in Botswana, Namibia and South Africa are set to be boosted by a new offer from Stanford Graduate School of Business, which has announced a US$3 million, three-year partnership with De Beers Group providing two new educational programmes, launching in 2018. They are: Seed Transformation Program, a one-year programme of intensive sessions on topics such as leadership, strategy,…

Angola downgraded due to rising debt service costs and weak economic prospects

Angola downgraded due to rising debt service costs and weak economic prospects

Angola downgraded due to rising debt service costs and weak economic prospects

Angola’s economic growth is likely to slow down, according to S&P, which has lowered its expectation and downgraded the southern African country to B-. It has, however, given the country a stable outlook. It said the country’s fiscal revenue performance is below its previous expectations and debt service costs are rising. In addition, the ratings agency said the banking sector…

IMF predicts 5% growth for Botswana

IMF predicts 5% growth for Botswana

IMF predicts 5% growth for Botswana

Supported by a gradual rebound in the global diamond market and public investment, annual real GDP growth in Botswana is projected to approach 5% in the near term, according to a new report from the International Monetary Fund (IMF). It also urges greater collaboration between the public and private sectors. The IMF says the growth projection is supported by a…

New Angolan connection for THB

New Angolan connection for THB

New Angolan connection for THB

Insurance and reinsurance broker THB has appointed Rodrigo Botelho as director, European division, from 1 October 2017. Based in THB’s Amsterdam office, Mr Botelho’s duties will include targeting new markets in the Portuguese-speaking countries of Africa. He joins from Universal Seguros in Angola, where he held the position of chief corporate business officer with responsibility for reinsurance. He previously worked…

Insurers need to wake up to digital changes ahead

Insurers need to wake up to digital changes ahead

Insurers need to wake up to digital changes ahead

Too many insurers and brokers are burying their heads in the sand, according to one disruptive technology company operating in the insurance space. Tavio Roxo, co-owner of Owls, a South African insurance tech innovator, said brokers and insurers are asking the wrong questions and looking in the wrong way at disruptors. “They always ask the same two questions of us:…

Risk managers face more challenges than ever before

Risk managers face more challenges than ever before

Risk managers face more challenges than ever before

The world has become a more politically uncertain and economically fragile place in the past year, with knock-on effects on every corner of the globe. More than 100 delegates attended Commercial Risk Africa’s Risk Frontiers Southern Africa one-day seminar in Gaborone recently and heard speakers from across Europe and Africa warn of the many risks they need to factor into…

Risk Frontiers Southern Africa report

Risk Frontiers Southern Africa report

Risk Frontiers Southern Africa report

On 6 July, Commercial Risk Africa hosted the Risk Frontiers Southern Africa conference in Gaborone, Botswana. Download our post-event report to catch up on all the news, analysis, debates and pictures from the day, which was based around the theme: ‘Understanding the new normal’.

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