Bureau Chief, Southern Africa
Marius's Feed
Mar 17, 2011

Aristide wants to be in Haiti before vote: lawyer

JOHANNESBURG (Reuters) – Haiti’s exiled former President Jean-Bertrand Aristide wants to return home before elections on Sunday despite U.S. opposition, his lawyer said on Thursday.

The United States has urged Aristide — in exile in South Africa since he was ousted in 2004 — to delay his return until after the run-off presidential election. The left-wing populist’s party was barred from the ballot.

Mar 11, 2011

Patience, tenacity key to business in Africa

JOHANNESBURG (Reuters) – Doing business in Africa is not for the faint-hearted and requires patience, good local staff and above all respect for the continent, bankers and executives say.

Speakers at this week’s Reuters Africa Investment Summit said that with Africa firmly on investor radars and seven sub-Saharan African countries expected to be among the world’s 10 fastest growing economies over the next five years, it cannot be ignored.

Mar 10, 2011

Reuters Summit-JSE warns firms over results releases

JOHANNESBURG, March 10 (Reuters) – The Johannesburg Stock
Exchange has warned companies to tighten procedures around
announcing results after Reuters reported FirstRand results a
day early when they appeared on a publicly available page on the
banking group’s website.

Russel Loubser, chief executive of the JSE, told the Reuters
Africa Investment Summit that the exchange was investigating
trades around the FirstRand (FSRJ.J: Quote, Profile, Research, Stock Buzz) results but did not expect
to find evidence of insider dealing.

Mar 10, 2011

JSE warns firms over results releases

JOHANNESBURG (Reuters) – The Johannesburg Stock Exchange has warned companies to tighten procedures around announcing results after Reuters reported FirstRand results a day early when they appeared on a publicly available page on the banking group’s website.

Russel Loubser, chief executive of the JSE, told the Reuters Africa Investment Summit that the exchange was investigating trades around the FirstRand (FSRJ.J: Quote, Profile, Research, Stock Buzz) results but did not expect to find evidence of insider dealing.

Mar 8, 2011

Zambia to launch eurobond, sees growth

JOHANNESBURG (Reuters) – Zambia plans its first foreign bond issue to raise $500 million for roads, power and housing before a presidential election this year that President Rupiah Banda told Reuters he was confident of winning.

The economy of Africa’s biggest copper producer is riding the commodity price surge and Banda said at the Reuters Africa Investment Summit that growth could be as high as 7.5 percent this year.

Mar 2, 2011

Brait to raise $863 mln, ditch private equity model

JOHANNESBURG, March 2 (Reuters) – South African investment
firm Brait (BATJ.J: Quote, Profile, Research, Stock Buzz) will raise up to $864 million in a rights
issue for its latest round of acquisitions, as it jettisons its
private equity model in favour of public capital markets.

By tapping shareholders directly for cash, Brait said it
would be able to raise money more quickly and hold investments
longer than the traditional private equity model allows.

Feb 10, 2011

Kumba year profit spikes on higher prices, exports

JOHANNESBURG, Feb 10 (Reuters) – A spike in iron ore prices
lifted Kumba Iron Ore’s (KIOJ.J: Quote, Profile, Research) full-year profit, with the
company saying it expected prices to remain firm this year.

Chief executive Chris Griffith said on Thursday 2011 export
prices, which rose on average 92 percent last year, would be
supported by higher demand on the back of an at least 5 percent
rise in crude steel production in China.

Jan 28, 2011

Mandela leaves hospital after treatment

JOHANNESBURG (Reuters) – Former South African President Nelson Mandela left hospital on Friday after treatment for an acute respiratory infection, officials said.

Mandela, 92, was admitted on Wednesday, prompting fears for the anti-apartheid icon who led South Africa as its first black president and is revered at home and abroad as a symbol of reconciliation and hope.

Jan 28, 2011

Mandela well, treated for respiratory infection

JOHANNESBURG (Reuters) – Former South African President Nelson Mandela is well and can be discharged from hospital after being treated for a respiratory infection, officials said on Friday.

Mandela, 92, was admitted to hospital on Wednesday, prompting fears for the anti-apartheid icon who led South Africa as its first black president and is revered at home and abroad as a symbol of reconciliation and hope.

Jan 28, 2011

No need to panic over Nelson Mandela, says government

JOHANNESBURG (Reuters) – Former South African President Nelson Mandela is undergoing specialised tests in hospital and there is no reason to panic over his health, Deputy President Kgalema Motlanthe said on Friday.

Mandela, 92, was admitted to hospital on Wednesday, prompting fears for the anti-apartheid icon who led South Africa as its first black president and is revered at home and abroad as a symbol of reconciliation and hope.