BusinessSectors

Mon,20Nov2017

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Africa's SWF: Investing for tomorrow

At best, Africa can invest at home rather than elsewhere. At worst, these funds could be squandered on opaque schemes that do little but reroute wealth to well-connected elites/Photo©GettyImagesThe governments of countries that produce natural resources are now trying to find a solution to the booms and busts of the commodity cycle. Over the past few years a handful of countries have set up new funds to invest assets and earn revenue for future generations.

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Mass weddings gain popularity in Uganda, DRC

Mass weddings are increasingly gaining popularity in Uganda and the Democratic Republic of Congo, as hundreds of Catholics prefer to exchange vows on the same day. Many see this as a way of saving costs.

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Ghana considers timber imports as industry declines

Falling volumes of timber in Ghana, coupled with rise in illegal lumbering, has compelled the former net timber exporter to now import to augment demands of the industry.

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Foreign investment raises local fears in Zimbabwe

Donors, who supply 98% of drugs in the public sector, do not prioritise local companies/Photo©ReutersLocal companies are already struggling in the face of the government's preference for cheaper imported drugs, so the arrival of new foreign-backed companies could fundamentally alter the structure of the industry.

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Why South Africa has more cars but fewer jobs

Car ownership has yet to catch up with the increase in middle-class purchasing power/MUSTAFA OZER/AFPWhile local manufacturers report double-digit sales growth, component suppliers are shedding workers and unions are asking if government subsidies are being used effectively.

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Uganda's politics and bureaucracy block the grand oil plan

Tullow hopes approval will be given to start production work at its two Buliisa sites in a few months/Photo©ReutersThe government has been slow to create new legislation to regulate the industry, and is engaged in a long-running struggle with companies over taxation and infrastructure programs.

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