South Africa’s foreign direct investment inflows fell by nearly R3 billion ($209.6 million) in the third quarter, the central bank said on Friday in its quarterly bulletin, as foreign firms sent less money to local subsidiaries.
Soap and cosmetics maker, PZ Cussons Plc, warned on Thursday it was facing weakened consumer demand across its main markets, with its dominant African business hampered by a weakened Nigerian economy and falls in the Naira currency.
South Africa has suspended airline, CemAir. It can no longer operate as an airline or air operator or fly any of its 21 aircraft, the South African Civil Aviation Authority (Sacaa) announced last night.
A debt swap for cash-strapped State power company, Eskom, would spiral the country into more debt, South Africa’s President Cyril Ramaphosa said on Thursday, adding there was need to look at other options to shore-up the company’s balance sheet.
Egypt’s Pharos Holding investment bank will launch micro-finance portfolio services worth around $22-$28 million in the first quarter of 2019, Co-Chief Executive Officer, Aladdin el-Afifi, told Reuters in an interview.
De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister, Winston Chitando, said.