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In terms of its economic might, South Africa hardly deserves a seat at the table when the leaders of the BRIC group of major emerging economies meet this week in China.But the country, which is making its debut at the summit, has earned a spot politically as the stepping stone to the quickly emerging states of sub-Saharan Africa, which helps expand the geographic reach of the original BRIC states

By Renee Bonorchis (Business Report) -- April 12 2011Absa and Barclays, which controls the Johannesburg-based bank, have started selling insurance in Botswana as they plan to co-operate more closely to expand in other African countries.“We want the same insurance licences in Mozambique and Zambia,” Louis von Zeuner, Absa’s deputy chief executive, said in an interview on Friday. In the past, Absa

March 30 2011 By Wendell Roelf - Business ReportGroup Five might construct a R5 billion solar power plant to supply mines, with first power seen two years from now, the construction firm said yesterday.Greg Heale, the group’s director of engineering and construction, said the project was still in development.“We hope to be producing power in 2013 when it starts to come on line.” He added that the

Written by Leon EngelbrechtTuesday, 08 March 2011South Africa should consider a gendarmerie for border policing, freeing both the military and the police to concentrate on their primary functions. That' the view of Institute for Security Studies peace missions programme head Henri Boshoff. Speaking at the defenceWeb Border Control 2011 conference, he welcomed the return to the border of the South

The strict criteria used by organisations assisting small and medium enterprises (SMEs) to get funding prevented 93 percent of these businesses getting business ideas off the ground, it has emerged.This came to light during a seminar in Cape Town on Monday involving some of the these organisations and Shanduka Black Umbrellas (SBU), a non-profit entity that supports and organises funding for

March 3 2011 - Business Report - By Ethel HazelhurstThe success of South Africa’s bond issue on international capital markets, late on Tuesday, is a sign of investor confidence in the economy, according to analysts.The National Treasury said yesterday that the $3 billion (R21bn) in bids received amounted to four times the value of the $750 million, 30-year global bond deal. And the 6.25 percent

March 2 2011 - Business Report - By Samantha Enslin-PayneFurniture group Steinhoff International is looking to expand its retail business in Africa, as it intends now to consolidate its European operations.Chief executive Markus Jooste said yesterday that the group was looking at prospects in Africa, specifically among the Southern African Development Community (SADC) countries, where there were

WINDHOEK, Feb 22, 2011, 2011 (IPS/GIN)A schism about the division of revenues in the world's oldest customs union threatens to derail the process of regional economic integration in Southern Africa.The internal problems plaguing the Southern African Customs Union (SACU) for the past year have entered a new phase. A concept study looking into revenue sharing from the SACU pool proposes a radical

23 February 2011South Africa is pushing ahead to secure a free trade agreement between the Southern African Development Community (SADC), the East African Community (EAC) and the Common Market for East African States (Comesa).Briefing journalists in Cape Town on Tuesday, Trade and Industry Minister Rob Davies said that a summit between the SADC, Comesa and the EAC would be hosted within weeks.He

February 10 2011 - By Ann Crotty and Londiwe ButheleziThe “China story” remained a sticky point among participants at the Investing in African Mining Indaba in Cape Town this week when it emerged that few agreed on the influence and impact that country has on Africa’s mining industries.While some speakers saw China’s interest in the continent as a boon, there were also voices of dissent decrying

February 4 2011 - Business Report By Slindile KhanyileAfrican Alternative Technologies (Aatec) was currently negotiating with the government, state-owned entities, private sector companies and Mozambique to run a pilot project to test a high-speed transport system that it wanted to offer as an option to the government’s proposed fast rail link network, it said this week.Aatec chief executive

Tuesday, 01 February 2011The key elements in China's economic miracle have been an integrated market, special economic zones with incentives for foreign investors, and widespread reform of the agricultural system, which has freed up more labour for economic development.Africa is moving in the right direction on these key elements, but there are fundamental differences with China, and the

South Africa is eager for elevation to the coveted Bric (Brazil, Russia, India and China) status of key emerging markets, but investors say Nigeria is a more probable African contender, even if promotion for either country is some way off.Russian President Dmitry Medvedev said at last month’s Group of 20 (G20) meeting in South Korea that South Africa had “applied” to join the four-member Bric

Wednesday, 17 November 2010Africa has the potential and advantages to become the next big success story and emulate the successes of Asia, Absa CEO Maria Ramos said on Tuesday. However, while Africa had several economic advantages over the rest of the world, it also had to address some major problems, she said in a public lecture at the University of Pretoria. While it would be dangerous to

South Africa's Royal Bafokeng Holdings, a black-owned investment group, may take a stake of up to $1.5 billion in one of the country's big banks over the next few years, its chief executive said on Wednesday.“We would like to have a significant investment in financial services and it's possibly a 5 to 10 billion ($750 million-$1.5 billion) stake in one of the big five financial services groups,”

Global brewing giant SABMiller Plc said Monday that it has recommenced reporting the results of its Zimbabwe associate, Delta Corporation with effect from 1 April 2010.The business contributed total beverage volumes in the six months to September 2010 of 1.0 million hectolitres, including lager volumes of 0.3 million hectolitres.Delta, in which SABMiller Africa now holds a 36 percent interest,

Les présidents sud-africain Jacob Zuma et égyptien Hosni Moubarak ont affirmé mardi au Caire vouloir renforcer les liens commerciaux entre leurs pays et souligné l'importance de développer le libre-échange en Afrique.Les présidents sud-africain Jacob Zuma et égyptien Hosni Moubarak ont affirmé mardi au Caire vouloir renforcer les liens commerciaux entre leurs pays et souligné l'importance de

September 27, 2010 -- SapaThe process of testing the market for a high speed rail linking Durban and Johannesburg will start next month, Transport Minister Sbu Ndebele announced on Monday.“By next month, we will commence with the dual process of concept development and testing the market for a period of six months,” said Ndebele at the launch of transport month at Bridge City in Durban.The

Brigitte Weidlich, The Namibian, 30 July 2010The three-year tussle between some Southern African countries, including Namibia, and the European Union (EU) to finalise trade negotiations for the Economic Partnership Agreements (EPAs) will be concluded by the end of this year."The EU endorsed the request by countries of the Southern African Development Community (SADC) to conclude a full EPA

By Mzwandile Jacks [Business Report] - July 23, 2010South Africa's low wealth levels and high social inequalities had restrained its economy and could spark a disaster, according to the global ratings agency, Standard & Poor's (S&P).S&P's Europe, Middle East and Africa (EMEA) financial institution analyst Matthew Pirnie said this was a challenge that South Africa's top five banks - Absa, Standard