Deputy Bureau Chief, Southern Africa
Joe's Feed
Oct 27, 2015

‘Capitalism sucks!’ South Africa’s radical left tells stock exchange

JOHANNESBURG (Reuters) – Thousands of South Africa’s Economic Freedom Fighters (EFF) protested outside the Johannesburg stock exchange on Tuesday in pursuit of working class votes for the radical leftist party ahead of municipal elections next year.

The EFF, led by firebrand Julius Malema, is looking to use the momentum built from student demonstrations last week to increase the pressure on President Jacob Zuma’s African National Congress (ANC), the anti-apartheid party of Nelson Mandela.

Oct 26, 2015

Insight – Mozambique gas projects raise risk of resource ‘curse’

PEMBA, Mozambique (Reuters) – Carlos Candido has been fishing in Mozambican waters for three decades, unaware until recently of huge gas deposits beneath the ocean floor. Now the gas wealth is about to released, Candido wishes it had never been found.

Up the coast from where he lives in northern Mozambique, thousands of people face resettlement to make way for planned gas projects in an area where money is already starting to flow, bringing unwanted consequences such as a rise in prostitution.

Oct 26, 2015

Mozambique gas projects raise risk of resource “curse”

PEMBA, Mozambique, Oct 26 (Reuters) – Carlos Candido has
been fishing in Mozambican waters for three decades, unaware
until recently of huge gas deposits beneath the ocean floor. Now
the gas wealth is about to released, Candido wishes it had never
been found.

Up the coast from where he lives in northern Mozambique,
thousands of people face resettlement to make way for planned
gas projects in an area where money is already starting to flow,
bringing unwanted consequences such as a rise in prostitution.

Oct 21, 2015

Anadarko says pushing ahead with Mozambique LNG plans

MAPUTO, Oct 21 (Reuters) – U.S. energy company Anadarko
is pushing ahead with its planned $20 billion Mozambique
gas export project and will make a final investment decision
once the government approves its development plan.

“We’re working full out to achieve a final investment
decision as soon as possible,” Anadarko’s country manager John
Peffer told Reuters in Maputo, without committing to a timeline.

Oct 21, 2015

Mozambique may convert ‘tuna bond’ into sovereign debt – finmin

MAPUTO, Oct 21 (Reuters) – Mozambique may convert a
controversial $850 million bond issued two years ago by state
tuna-fishing company Ematum into sovereign debt to improve
terms, Finance Minister Adriano Maleiane said on Wednesday.

The bond was presented in 2013 as funding for “tuna fishing
and related infrastructure” although it quickly became apparent
much of the cash was for maritime surveillance and security.

Oct 15, 2015

Economic slowdown prompts scrutiny of African data

JOHANNESBURG, Oct 15 (Reuters) – A dip in the fortunes of
many African economies has raised doubts about the accuracy of
the heady statistics that lured hordes of investors during the
“Africa Rising” boom years.

Sub-Saharan Africa has achieved annual growth of more than
five percent over the last decade, and foreign investment has
more than quadrupled over the same period, as a commodities boom
and an increase in consumer spending drove bumper returns.

Sep 30, 2015

South Africans march against corruption, in challenge to Zuma

PRETORIA (Reuters) – Thousands of South Africans from trade unions, opposition parties and civil society groups marched against corruption on Wednesday, calling on President Jacob Zuma to clean up government before local elections next year.

Civil society groups organized protests in the capital Pretoria and in Cape Town. More marches are due next month.

Sep 29, 2015

S.Africa’s opposition wants investigation into Hitachi payments

JOHANNESBURG, Sept 29 (Reuters) – South Africa’s main
opposition party said on Tuesday it wants police to investigate
the investment arm of the ruling party after Hitachi paid to
settle a U.S. investigation into improper payments made to the
South African government.

Hitachi Ltd agreed on Monday to pay $19 million to
settle U.S. Securities and Exchange Commission charges that it
inaccurately recorded improper payments to South Africa’s ruling
African National Congress (ANC) related to contracts to build
two multi-billion dollar power plants.

Sep 23, 2015

Commodities’ dive raises doubts over Africa’s ‘middle class’

JOHANNESBURG (Reuters) – Whether it’s selling pensions, pasta or toothpicks, investors in Africa have been targeting the booming middle class. But a year of diving commodity prices has exposed how much the continent, and its consumers, still rely on exporting resources.

A decade of growth above five percent in sub-Saharan African economies has drawn a wave of interest in selling consumer goods and providing services to a rapidly urbanizing population of 1 billion.

Sep 23, 2015

Analysis – Commodities’ dive raises doubts over Africa’s ‘middle class’

JOHANNESBURG (Reuters) – Whether it’s selling pensions, pasta or toothpicks, investors in Africa have been targeting the booming middle class. But a year of diving commodity prices has exposed how much the continent, and its consumers, still rely on exporting resources.

A decade of growth above five percent in sub-Saharan African economies has drawn a wave of interest in selling consumer goods and providing services to a rapidly urbanizing population of 1 billion.

    • About Joe

      "Joe is Reuters deputy bureau chief for southern Africa, covering ten countries in the region out of Johannesburg. Joe has previously been based in Abuja, Nigeria and London."
    • Follow Joe