Angola expected to attract more private investment as economy recovers

Angola expected to attract more private investment as economy recovers

Angola expected to attract more private investment as economy recovers

Risks in Angola are on the decrease, according to the International Monetary Fund (IMF), which predicts that the economy is recovering and restrictions on private investment will be lifted. It said lower oil prices since mid-2014 placed the Angolan economy under stress. The authorities initially reacted to the oil price shock with significant fiscal tightening and exchange rate adjustments coupled…

Risk management event scheduled for Namibia

Risk management event scheduled for Namibia

Risk management event scheduled for Namibia

The Namibia chapters of the Institute of Internal Auditors South Africa (IIA SA), the Institute of Risk Management South Africa (IRMSA) and the Information Systems Audit and Control Association (ISACA) will be collaborating in a joint conference on 18 June 2018, in Windhoek. With the conference theme, ‘Is it the end of the world as we know it?’, speakers include Monia…

Power boost for Mozambique industry

Power boost for Mozambique industry

Power boost for Mozambique industry

A new deal to provide gas-driven power to northern Mozambique should end the risk of power failure and boost industrial plans across the county. The power plant in northern Mozambique is a key regional infrastructure project. It will accelerate the development and industrialisation of several other industrial projects, which have been shelved due to the lack of a steady power…

Analysis of Zimbabwean investment opportunities

Analysis of Zimbabwean investment opportunities

Analysis of Zimbabwean investment opportunities

  In the 1980s, Zimbabwe could only be described as having a pandemic feeling of economic and political opportunity. The country, already known as the ‘breadbasket of Africa’, had just gained its independence and anticipated a future of political stability with ANC veteran and war hero, Robert Mugabe, at its helm. To an opportunist investor, Zimbabwe demonstrated huge potential. To…

Risks will reduce for Zimbabwe after July election

Risks will reduce for Zimbabwe after July election

Risks will reduce for Zimbabwe after July election

Elections slated for 18 July in Zimbabwe could kick start a massive surge in international business. Grace Muradzikwa, CEO of Zimbabwean insurer Nicoz Diamond, said the country is already enjoying a surge in interest. However, she added: “The international community wants to see an election to legitimise the change in president.” Ms Muradzikwa said one of the strongest signals of…

Fitch improves Angola rating

Fitch improves Angola rating

Fitch improves Angola rating

A more stable foreign exchange regime in Angola, along with major reforms, has encouraged Fitch Ratings to revise its outlook on Angola’s long-term foreign-currency issuer default rating (IDR) to stable from negative and affirm the IDR at B. It said the changes “reflect improvements in the management of the foreign exchange regime and the government’s adoption of an ambitious reform…

Major insurance regulatory change ahead in Namibia

Major insurance regulatory change ahead in Namibia

Major insurance regulatory change ahead in Namibia

Treating customers fairly and adapting to a changing environment is driving regulatory change across Naimbia, particularly for the insurance sector. Kenneth Matomola, chief executive of the Namibian Financial Institutions Supervisory Authority (Namfisa), has outlined a series of regulatory reforms soon to be addressed by parliament, with plans to see the changes endorsed within the current parliamentary terms. The changes include…

Boost for businesses wanting to develop Zimbabwe interests

Boost for businesses wanting to develop Zimbabwe interests

Boost for businesses wanting to develop Zimbabwe interests

The African Export-Import Bank (Afreximbank) is to provide between $1bn and $1.5bn of funded and guaranteed facilities to support businesses investing in Zimbabwe. Dr Benedict Oramah, bank president, said the facilities would be arranged under ZimOpen, an inward investment support facility that Afreximbank is putting in place in collaboration with the Zimbabwe government. Dr Oramah added that ZimOpen is aimed…

Mozambique rating affirmed as finance remains difficult

Mozambique rating affirmed as finance remains difficult

Mozambique rating affirmed as finance remains difficult

Mozambique’s long-term foreign currency issuer default rating has been affirmed by Fitch at RD (restricted default), as the country admits there is no short-term fix for its debt problems. Fitch said the affirmation reflects the sovereign’s inability to cure the default on debt to external commercial creditors. Since Fitch downgraded Mozambique to RD in November 2016, the sovereign has missed…

Mozambique receives major bank boost

Mozambique receives major bank boost

Mozambique receives major bank boost

Mozambique is to receive grants totalling $29m from the African Development Bank (AfDB) to boost agriculture and education. The first project will support the uptake of agricultural technologies and techniques, as well as small-scale irrigation equipment to increase the climate resilience of small agricultural producers, while the second will strengthen the curricula and teaching facilities at the University of Lurio,…

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