Johannesburg still leading African destination for Fortune 500 companies

Johannesburg still leading African destination for Fortune 500 companies

Johannesburg still leading African destination for Fortune 500 companies

The Middle East and Africa (MEA) region has become increasingly important for the majority of global Fortune 500 companies, with a 17% increase in the number of Fortune 500 companies in MEA in 2016 compared to 2015. Johannesburg is the leading destination for Africa, according to a new report released by business research company Infomineo. In 2016, 196 Fortune 500…

S&P affirms Cameroon rating while warning of political risks

S&P affirms Cameroon rating while warning of political risks

S&P affirms Cameroon rating while warning of political risks

Standard & Poor’s Global Ratings (S&P) has affirmed its B long-term and B short-term sovereign credit ratings on Cameroon, with a stable outlook, however, it has warned that risks around the presidential succession are high. It said: “The ratings are constrained by our view of political risk pertaining to presidential succession, low income per capita and our expectation of a…

Fuelling culture of corruption in Nigeria?

Fuelling culture of corruption in Nigeria?

Fuelling culture of corruption in Nigeria?

Recent media reports that Shell has admitted for the first time that it negotiated a deal with a convicted money-launderer in the process of seeking lucrative oil contracts in Nigeria is not unexpected news given the mountain of such allegations against the oil giant in the country through the decades. In Nigeria, Shell is synonymous with the oil industry. The…

Blockchain provides new opportunities for insurance industry

Blockchain provides new opportunities for insurance industry

Blockchain provides new opportunities for insurance industry

The opportunities and risks for engaging in blockchain and distributed ledger technology projects in the insurance sector have been highlighted in a new report. Blockchain has been the buzzword in the fintech community for some time, however law firm Pinsent Masons and Applied Blockchain, which launched the research, are warning that while there is great potential for smart contracts to…

Boost to Africa-Asia cotton trade

Boost to Africa-Asia cotton trade

Boost to Africa-Asia cotton trade

The Africa-Asia cotton trade has been boosted by a first trade meeting between producers and buyers from both continents. The event was organised by the International Islamic Trade Financing Corporation (ITFC) as part of its cotton development and partnership programme. The meeting took place in Dhaka, Bangladesh. Attendees included west African cotton producers, the African Cotton Association, the Bangladesh Textile…

Data breaches and cyber attacks: How ready is your organisation?

Data breaches and cyber attacks: How ready is your organisation?

Data breaches and cyber attacks: How ready is your organisation?

Data security and cyber breaches are becoming an almost daily occurrence, as is widely reflected in increased publicity and media reports, which also demonstrate that data breaches are growing both in frequency and scope each year. South Africa has been slow to regulate cybercrimes and data breaches. There are currently two key pieces of proposed legislation that are relevant: The…

Small Nigerian banks facing real challenges

Small Nigerian banks facing real challenges

Small Nigerian banks facing real challenges

Smaller Nigerian banks could face real challenges if loans fail to perform, according to a new report from Fitch Ratings which also suggests there is a huge disparity among Nigerian banks in the ability to cope with stress. It said regulatory stress test results highlight disparities in capital strength across the Nigerian banking sector, with large banks collectively much more…

New opportunities ahead for Africa as the new world order takes shape

New opportunities ahead for Africa as the new world order takes shape

New opportunities ahead for Africa as the new world order takes shape

Junk status for South African investments, wobbles over the state of the Nigerian economy and the continuation of low oil prices are making Africa a hard continent to read right now. However, many experts believe that new opportunities are just around the corner as Donald Trump hints of a move away from aid towards more business deals with the African…

New leader at head of Coface South Africa

New leader at head of Coface South Africa

New leader at head of Coface South Africa

Coface, the French-based trade credit insurer, has named Jacqui Jooste as Coface South Africa CEO and country manager. “Ms Jooste has been an executive director and board member of Coface since August 2008 and has held the position of COO since September 2014. With a career spanning more than 20 years at the entity, Ms Jooste has grown through the…

S&P shows confidence in three of Africa’s largest economies

S&P shows confidence in three of Africa’s largest economies

S&P shows confidence in three of Africa’s largest economies

Standard & Poor’s (S&P) has affirmed its ratings on Kenya, Ghana and Morocco, with a positive message for all three African states. In terms of Kenya, the ratings agency has affirmed its B+/B long- and short-term foreign and local currency sovereign credit ratings. The outlook is stable. It said upcoming elections, drought and decelerating credit growth pose short-term risks to…