United States

Africa Investment 2013

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Africa urged to drive harder bargains with China

JOHANNESBURG For more than a decade African governments have rolled out the red carpet for Chinese investors, trading oil, coal, iron ore and other resources for badly needed ports, roads and railways.

Africa's banks spread their wings

JOHANNESBURG It took Kenyan lender KCB Group less than a year to break even after opening in tiny Burundi, a country better known for explosive violence than explosive growth.

South Africa pitches "Gateway to Africa" image: not all agree

JOHANNESBURG With its sophisticated banking system, decent roads and ports and top notch commercial courts, South Africa is pumping itself up as the 'Gateway to Africa', the ideal launchpad for foreign capital into the fast-growing but chaotic markets to its north.


Etisalat Nigeria to invest $500 million this year

LAGOS The Nigerian operation of United Arab Emirates phone operator Etisalat plans to invest $500 million to expand its network this year, its commercial officer said on Thursday.

Kenya's Housing Finance eyes more funding

NAIROBI Kenya's Housing Finance is looking to raise more funds in the second half of this year and increase mortgage lending as it expects last month's peaceful elections to spur demand for houses.

West Africa leading Central Africa on business reforms: investor

DAKAR West Africa nations are racing ahead of their Central African counterparts in deepening economic integration and slashing red tape to open up regional business opportunities, a private equity fund manager said.


Skills shortage could hamper Africa growth surge

DAKAR Abdoul Aziz Tamba is in his final year of an English course at Senegal's Cheikh Anta Diop University, but he has little hope of finding employment after three years of study.

Kenyan retailer Uchumi eyes Rwanda, South Sudan

NAIROBI Kenya's Uchumi Supermarkets , the sole listed retailer in East Africa, plans to open six new stores in the next six months as well as expanding into Rwanda and South Sudan to tap new shoppers, its chief executive officer said on Thursday.

South Africa's Imperial aims to double Africa business

JOHANNESBURG South Africa's Imperial Holdings aims to double its core profit from the rest of Africa in at least three years and is looking for acquisitions to fuel the growth, its chief executive said on Thursday.

African car sales head towards the 2 million mark: GM

JOHANNESBURG Annual vehicle sales in Africa will rise nearly 20 percent in the next two years to hit the 2 million mark as the continent's burgeoning middle class trades up from motorbikes and jalopies to new cars, the regional head of General Motors said.


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