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March 31, 2017

South African wine producers target China

South African vintners are busy in China. In March, South African wines appeared at the “Great Wines of Southern Hemisphere 2017” trade show, which took place in the southern city of Chengdu just before China’s largest annual food and wine fair.

This month they will be participating in a series of promotions culminating in the “Discover South Africa” tasting event in Shanghai on 27 April. According to Michaela Stander, market manager for Asia at Wines of South Africa (WOSA), this will include about 20 exhibitors showcasing over 200 wines. And that’s not all.

In May, Shanghai will host SIAL China, one of the largest food exhibitions in Asia, where South African wines [...]

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March 23, 2017

MTN appoints Rob Shuter as CEO following earnings loss

South Africa’s MTN Group has appointed Rob Shuter as chief executive after the mobile phone network company announced a R2.6bn ($198m) loss in earnings in 2016. Shuter, who previously worked for London-headquartered Vodafone, was appointed on Monday to head up the revamped senior management team, following the completion of a strategic review.

MTN’s earnings loss was the first time in its 23-year history that the telecoms giant had reported a fall in income. Meanwhile, pre-tax profits fell from R36.5bn ($2.8bn) in 2015 to R18.2bn ($1.4bn). However, MTN’s consolidated revenue increased year-on-year by 0.4% in 2016 to R146bn ($11.1bn), while its subscriber base in Africa and the [...]

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March 23, 2017

Zimbabwe: Vic Falls airport to boost tourism

The Zimbabwean government hopes to boost tourism to the Southern African country following the completion of $150m upgrade to Victoria Falls International Airport. The enhancements allow wide-body aircraft, such as Boeing 777 and Airbus A340 planes, to land.

The development of the airport – which included increasing the length of the runway from 2.2km to 4km, building a new terminal complete with a new control tower and improving the surrounding road network – was funded by the China Export-Import Bank. The upgrade now means the airport can handle 1.2m passengers annually, up from 500,000 passengers per year.

Some African airlines, including South African Airways, [...]

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March 16, 2017

Fall in mining and manufacturing shrinks South Africa’s economic growth

South Africa’s economy contracted to 0.3 percent in the last quarter of 2016, due to a fall in mining and manufacturing production.

According to the country’s statistics office, the shrinkage in the two key sectors of the economy pulled growth into negative territory.

Figures from the agency indicate, the mining industry’s 11.5 percent drop in production was the main contributor to the economy’s slowdown, brought about by a fall in production of coal, gold and other metal ores, such as platinum and iron ore. While manufacturing dropped by 3.1 percent.

Overall, the economy grew by 0.3 percent last year compared to 1.5 percent in 2015.

Africa’s most [...]

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