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Posts Tagged ‘economy’
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April 20, 2018

WATCH: What the Old Mutual split means for investors

Old Mutual released its full-year results on Thursday, boasting of a 22% increase in pre-tax profit as it prepares to split its business units.

Group CEO Bruce Hemphill said Old Mutual Wealth, along with Old Mutual Limited, would be listed in London and Johannesburg once the separation was complete. But Hemphill gave no indication of when the listings would take place, saying Old Mutual would play its cards close to its chest.

Hemphill spoke to Business Day TV about the group’s full-year results and gave some more detail on the numbers.

 

 

Source: [...]

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March 29, 2018

Ghana is ‘about to have an oil boom’

Ghana’s economy is seen expanding by 8.3 percent this year, making it one of the world’s fastest growing. The rapid growth is due to new oil coming online. Meanwhile Ghana’s cocoa industry, for which it is world famous, could face headwinds due to climate change and urbanization. Ludovic Marin | AFP | Getty Images

French President Emmanuel Macron (2nd R) and Ghanaian President Nana Akufo-Addo in Accra, Ghana, on November 30, 2017.

Ghana, the west African nation known as one of the world’s largest cocoa producers, is on course for skyrocketing economic growth this year thanks to an entirely different commodity.

Ghana is “about to have an [...]

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March 2, 2018

Rand at strongest level in three years

“The rally in the local currency ‘continues unabated it seems and a slight dollar recovery last week has done nothing to dent this’”

The rand continued its winning ways on Monday morning, touching levels not seen since early 2015.

Positive sentiment towards SA was the recurring theme.

Foreigners were net buyers of local bonds to the tune of R12.3bn over the past week, helping the momentum in the rand, which acts a buffer against inflation.

Foreigners have also been aggressive net buyers of the local shares since December when Cyril Ramaphosa became the new of the new leader of the ANC.

With inflation now close to the mid-point of the [...]

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January 19, 2018

Here’s what R100 buys you around the world right now

The rand is currently enjoying one of its longest winning streaks since 2002, with the currency trading at R12.37 to the dollar on Monday, 8 January.

Notably it has been on the front foot since December, supported by investors’ hopes that the newly elected leader of the ruling ANC, Cyril Ramaphosa, would push through business-friendly policies.

However, a Reuters poll held on Friday (5 January) found that the run is likely to end soon, with technical indicators now suggesting the rand is overbought.

There are also doubts about how much Ramaphosa, a promised reformer, can do for South Africa’s ailing economy, with the polled strategists saying that the rand is [...]

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