Southern Africa

Understanding the Recent Trends in the South African Stock Market Recent reports highlight a significant trend: nearly double the $1.9 billion in outflows recorded from early 2023 to early 2024 have left the Johannesburg Stock Exchange (JSE). As the Reuters report emphasized, this growing apprehension among investors is striking, particularly given that the JSE remains one of the world's top-performing markets in 2023. How do we reconcile this dichotomy? According to Bank of America, South African equities…

On June 9, an impressive ultra-large container vessel (ULCV), the MSC Rifaya, docked at Durban port, South Africa, making an unplanned stop for emergency repairs after its journey from Ashdod, Israel. This unexpected visit marked a significant moment in maritime logistics, showcasing the resilience and adaptability of South African shipping infrastructure. The MSC Rifaya, a colossal vessel nearly 400 meters in length, weighs over 200,000 metric tonnes. This immense ship holds a prominent place in the realm of…

In recent times, the landscape of gold mining in Africa has been evolving rapidly, as nations across the continent actively seek to assert more control over their natural resources. This journey toward resource nationalism is gaining momentum, and Tanzania stands at the forefront of this movement. A significant policy decision has just been made, placing Tanzania alongside other African countries that are reevaluating their relationships with foreign mining companies. With rising global gold prices, this initiative…

In a chilling warning, labor unions have revealed that up to 20,000 jobs in Lesotho hang in the balance, driven by the looming threat of a staggering 50 percent tariff hike from the United States. This situation brings to mind George Bernard Shaw’s words: “Progress is impossible without change.” Yet, for many in Lesotho, change feels more daunting than progressive. Until the Trump administration's controversial imposition of new tariffs, Lesotho enjoyed duty-free status under the African Growth and Opportunity Act—an…

In recent weeks, typhoons of unrelenting rain and ferocious winds have swept through our province, inflicting not just damage but heartbreak. As communities grapple with loss, the government, in collaboration with municipalities and private partners, is mobilizing to deliver crucial relief and recovery services. The tragedy has claimed 78 lives across various districts, leaving behind a trail of sorrow and upheaval. What does it take to rebuild after such devastation? The answer lies in a blend of resilience, teamwork, and…

The conversation about space exploration and technology has taken an intriguing turn with the interest of Elon Musk, the world’s wealthiest individual, in the Denel Overberg rocket test site near Arniston, just outside Cape Town. This site could potentially become a launch pad for SpaceX operations, which raises various questions about the future of space activities in South Africa. Developed by the Aerospace Systems Research Institute at the University of KwaZulu-Natal, the Overberg site has demonstrated its…

The Recent Update to the EU Financial Blacklist: Implications for Africa The European Union (EU) has recently revised its financial blacklist, introducing five African nations—Algeria, Angola, Côte d’Ivoire, Kenya, and Namibia—into a category that raises serious concerns about deficiencies in their anti-money laundering and counter-terrorism financing systems. This update signifies that these countries are now classified as high-risk jurisdictions. As a result, EU financial institutions must exercise enhanced due…

Burkina Faso has taken a monumental step toward asserting control over its natural resources by officially transferring five gold mining assets to its state-owned mining company. This move marks a pivotal moment in the nation’s efforts to enhance its sovereignty and economic position in the global mining industry. This transition was confirmed through a decree published late Wednesday, signaling the completion of a process that began in August 2023. The government’s actions reflect a growing desire to centralize management…

The recent passing of Edgar Lungu, former president of Zambia, at the age of 68, has ignited a tumult of emotions and disagreements regarding his funeral arrangements. This multifaceted situation has left many baffled, particularly as it highlights a broader narrative of division between his family, political party—the Patriotic Front (PF)—and the current government. At the core of the controversy is the location and nature of Lungu's final send-off. The government, seeking to honor his legacy with a state funeral at an…

DHL Group is making a substantial commitment to the future of healthcare in Africa and the Middle East by planning to invest approximately €500 million, which translates to about $575 million, in healthcare infrastructure over the next five years. This ambitious initiative seeks to cater to the ever-growing demand for medical logistics and services in these rapidly evolving markets. This strategic move is, in part, a response to the increasing influence of China in the region. As noted by Bloomberg, the demand…