Political uncertainty and instability tops southern Africa risks

Political uncertainty and instability tops southern Africa risks

Political uncertainty and instability tops southern Africa risks

Political uncertainty through transitions and instability are among the key risks for businesses in southern Africa in 2018, according to Control Risks’ annual political and security risk forecast RiskMap. Control Risks’ senior partner for southern Africa George Nicholls said: “2018 will see continued uncertainty around political leadership in our southern African markets. The transitions in Zimbabwe and Angola in 2017,…

New claims manager for AGCS Africa

New claims manager for AGCS Africa

New claims manager for AGCS Africa

AGCS Africa has appointed Heleen Ferguson as claims manager. Previously with AIG as a commercial claims manager, she started her insurance career at Mutual & Federal (now Old Mutual Insure) in 1998. Ms Ferguson is an expert in financial lines and casualty

Zimbabwe shifts to attract foreign direct investors

Zimbabwe shifts to attract foreign direct investors

Zimbabwe shifts to attract foreign direct investors

The Zimbabwean finance minister Patrick Chinamasa has signalled a potential shift in policy by unveiling a budget which suggests greater links to the international investment community. Alisa Strobel, senior economist Sub Saharan Africa, IHS Markit, said: “Years of economic mismanagement have led to a collapse in domestic demand, in combination with a struggling manufacturing industry and agricultural sector devastating the…

Low oil price rocks China-Angola relationship

Low oil price rocks China-Angola relationship

Low oil price rocks China-Angola relationship

Political and credit risks could rise, risk managers have been warned as Angola’s relationship with China has taken a dive following the drop in oil prices, according to experts at credit insurer Coface. The insurer explained: “Angola had a very high export dependency on China in 2016 and has systematically ranked among one of the top five most China-dependent countries…

Out with the old, in with the….old?

Out with the old, in with the….old?

Out with the old, in with the….old?

Long-time deputy president of Zimbabwe Emerson Mnangagwa has been sworn in as president replacing Robert Mugabe, who finally stepped earlier this week. However, as the team from credit insurer Coface reports, 75-year old Mr Mnangagwa is unlikely to bring dramatic change, having been one of Mr Mugabe’s companions for the past four decades in the Zimbabwe African National Union –…

Risk managers worry as Kenyans uphold election and Mugabe clings to power in Zimbabwe

Risk managers worry as Kenyans uphold election and Mugabe clings to power in Zimbabwe

Risk managers worry as Kenyans uphold election and Mugabe clings to power in Zimbabwe

Businesses across Kenya are holding their breath as the Kenya Supreme Court upholds the election result and leaves the way clear for Uhuru Kenyatta to take his second term as President. The Court ruled on 20 November that the boycott of last month’s election was illegal and therefore the result would stand. Protests erupted almost immediately. However, Kenyatta supporters were…

China and Zambia: friendship turned sour?

China and Zambia: friendship turned sour?

China and Zambia: friendship turned sour?

Credit insurer Coface has warned of worsening relations between Zambia and China, as politicians begin to use criticism of the links as a vote winner. Zambia’s export dependency on China has doubled in the past decade, beginning in 1998, after China Nonferrous Metal Mining Group (CNMC), a Chinese state-owned enterprise (SOE), developed and began operating the Chambishi copper mine. Since…

Namibia downgraded because of weak economy

Namibia downgraded because of weak economy

Namibia downgraded because of weak economy

Weak economic recovery has resulted in Fitch Ratings downgrading Namibia’s long-term foreign currency issuer default rating (IDR) to BB+ from BBB-. The outlook is stable. It said: “The downgrade of the long-term foreign currency IDR reflects weaker-than-forecast fiscal outcomes and our projection that public debt to GDP will continue to rise over the medium term. “This will leave debt in…

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