South Africa’s government pushes ahead with nuclear procurement despite massive cost implications, a looming political fall-out, and transparency concerns that could topple President Jacob Zuma before 2017.
Exx Africa looks at the political motivations for the finance minister’s abrupt removal, the prospect of policy changes, tax increases, further credit downgrades, and risks to the local banking sector.
President Magufuli will appoint a younger and technocratic cabinet with a focus on public service delivery, power and transport infrastructure, and greater local beneficiation from the mining and gas sectors.
An over-dependence on debt-fuelled economic expansion and low value foreign investment, as well as disappointing middle class consumerism, have dampened Africa’s growth prospects. EXX AFRICA looks at the economic challenges and opportunities of the new economic climate.
A new fund will open fresh opportunities to invest in power and transport infrastructure, though large-scale projects face frustration risks due to a confused economic policy and rival political portfolios.
Indian businesses have an opportunity to strengthen trade and investment in some African countries to boost supplies of minerals to domestic industries, yet India is unlikely to catch up on China’s dominance.
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- EXX Africa participated at the Bonds, Loans & Sukuk – Africa conference last week in Cape Town.
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