Bureau Chief, Southern Africa
Marius's Feed
Jun 25, 2010

Africa’s potential can no longer be ignored -McKinsey

JOHANNESBURG, June 25 (Reuters) – Africa’s strong growth
will continue at a rapid pace and investors and business can not
afford to ignore the continent’s potential which goes far beyond
commodities, according to a McKinsey Global Institute study.

The study released on Friday by MGI, the economics research
arm of consultancy firm McKinsey, said Africa’s GDP grew by 4.9
percent between 2000 and 2008, making it the third fastest
growing region in the world.

Jun 23, 2010

Puma CEO sees African business expanding

SOWETO, South Africa (Reuters) – German sporting goods maker Puma sees good prospects in Africa and expects the World Cup to boost sales of its soccer business, Chief Executive Officer Jochen Zeitz said on Wednesday.

Puma, the world’s No. 3 behind U.S. sporting giant Nike and German rival Adidas, equips seven teams — including Italy and four African teams — in the World Cup currently taking place in South Africa.

Jun 22, 2010

World Cup will create more jobs in S.Africa – Zuma

JOHANNESBURG (Reuters) – South African President Jacob Zuma said on Tuesday he was confident the Soccer World Cup, hosted for the first time in Africa, will boost job creation and economic growth in his country.

“The event itself has created such an opportunity that our economy is not going to be of the same size after the 2010 World Cup. Certainly, therefore, GDP will grow from where it has been,” Zuma said in an interview with Reuters Insider television.

Jun 22, 2010

Zuma confident World Cup will create jobs

JOHANNESBURG (Reuters) – South African President Jacob Zuma said on Tuesday he was confident the Soccer World Cup will boost job creation and economic growth in the country.

“The event itself has created such an opportunity that our economy is not going to be of the same size after the 2010 World Cup. Certainly, therefore, GDP will grow from where it has been,” Zuma said in an interview with Reuters Insider television.

Jun 22, 2010

Soccer-World-Zuma confident World Cup will create jobs

JOHANNESBURG, June 22 (Reuters) – South African President
Jacob Zuma said on Tuesday he was confident the Soccer World Cup
will boost job creation and economic growth in the country.

“The event itself has created such an opportunity that our
economy is not going to be of the same size after the 2010 World
Cup. Certainly, therefore, GDP will grow from where it has
been,” Zuma said in an interview with Reuters Insider
television.
“We are confident that the employment numbers will grow.”

Jun 10, 2010

MTN shares surge after Orascom talks fail

JOHANNESBURG (Reuters) – Shares in MTN Group (MTNJ.J: Quote, Profile, Research), Africa’s biggest mobile phone operator, rose over four percent on Thursday after the collapse of talks with Egypt’s Orascom Telecom (ORTE.CA: Quote, Profile, Research) about a potential acquisition.

MTN and Orascom Telecom said in separate statements on Wednesday that talks had been called off, sinking a deal that could have created the world’s third-largest mobile operator.

Jun 8, 2010

South Africa banks on lasting World Cup legacy

JOHANNESBURG (Reuters) – South Africa has spent tens of billions on hosting the World Cup, hoping to draw more tourists, boost investment and reverse the country’s crime-ridden image abroad.

But the real benefits of holding the world’s biggest single sporting event on the African continent for the first time will only be seen in years to come, analysts said.

Jun 8, 2010

Soccer-World-South Africa banks on lasting World Cup legacy

JOHANNESBURG, June 8 (Reuters) – South Africa has spent tens
of billions on hosting the World Cup, hoping to draw more
tourists, boost investment and reverse the country’s
crime-ridden image abroad.

But the real benefits of holding the world’s biggest single
sporting event on the African continent for the first time will
only be seen in years to come, analysts said.

Jun 3, 2010

Life Healthcare cuts IPO range as markets fall

JOHANNESBURG, June 3 (Reuters) – South Africa’s Life
Healthcare cut the price range for its initial public offering
(IPO) to attract more investors after recent market weakness,
marking a shaky start to what will be one the country’s biggest
IPOs.

The company, which runs private hospitals across South
Africa, said on Thursday it had cut its IPO price range to 13.50
to 14.50 rand ($1.77-$1.90) from an initial 14.50 to 17.00 rand
range given on May 18.

May 27, 2010

South African govt must protect migrants– Amnesty

JOHANNESBURG, May 27 (Reuters) – South Africa’s government must do more to protect African migrants from persistent xenophobic violence, Amnesty International said on Thursday as the nation prepares to host the soccer World Cup.

The human rights group said it had documented more attacks against African migrants, two years after a wave of anti-foreigner violence left 62 people dead and nearly 100,000 displaced.

"There’s still documented, on a regular basis, violence among communities often targeted against foreigners," Erwin van der Borght, Africa programme director at Amnesty International, told Talk Radio 702.

"(The attacks are) often related to protests against lack of basic services and competing against scarce resource and (these) result in loss of life and destruction of property," he added.

Liberal immigration and refugee policies make South Africa an attractive destination for Africans lured by work in mines, farms and homes.

Earlier this month, the Consortium for Refugees and Migrants in South Africa (Cormsa), a group of human rights and migrant organisations including Amnesty International, said African migrants feared a flare-up of xenophobic violence after the month-long World Cup, which starts on June 11.

Amnesty said President Jacob Zuma’s government had to ensure security forces could protect other Africans living in South Africa.

"We’re also, with the upcoming World Cup, appealing to the South African government to not only obviously protect the situation around the World Cup but also make sure there are resources available to continue to be able to provide protection and security for people living in these communities," Van Der Borght said.

Another outbreak of unrest could harm investor sentiment and embarrass Zuma’s government, after the country became the first in Africa to host the World Cup.

There are no precise figures on the total number of African immigrants in South Africa. The South African Institute of Race Relations estimates the figure at five million — equivalent to the country’s white population.

About three million Zimbabweans alone have fled economic collapse in that country to South Africa, the continent’s biggest economy, in the past decade.

The influx of other Africans have led to competition for jobs, housing and resources.

A quarter of the South African workforce is unemployed and 16 years after apartheid ended, millions of poor blacks are yet to receive housing, water, electricity and the improved education they had expected would come with a black government.

This has led to violent countrywide protests in shack settlements and poor townships where residents are furious at the government’s inability to deliver basic services.

In 2008, the attacks were brought under control through massive intervention by the police and military. (Additional reporting by Stella Mapenzauswa and Peroshni Govender; Editing by Michael Taylor and Mark Heinrich)