75131
Business Group  to Invest $1b  in Africa
World Economy

Business Group to Invest $1b in Africa

A consortium of international business leaders was investing $1 billion in the South African and larger African economies, the lead investor ambassador Harold Doley jr announced in Cape Town at the Business Report Ignite forum, AllAfrica reported. The $1 billion (about R14 billion) investment will primarily be in technology, as a platform for diverse development, and education and agri-business. Africa has the most arable land in the world and has more people under 35 than any other continent. Addressing Finance Minister Malusi Gigaba, Doley, who is the only African-American individual to own a seat in the history of the New York Stock Exchange, said he knew the critical role capital played in transforming developing economies. The South Africa Revenue Service has previously said the country’s cumulative deficit for 2017 is R17.08 billion compared to R83.28 billion deficit in 2016. The National Treasury has slashed the country’s growth outlook by nearly half to 0.7% from the 1.3% predicted in February. Doley said young Africans could unlock the door to economic prosperity if they were given the keys—capital, education and expertise.

 

Short URL : https://goo.gl/HPSDVG
  1. https://goo.gl/wBNJY9
  • https://goo.gl/s57vPE
  • https://goo.gl/QB9VE1
  • https://goo.gl/bXMPvE
  • https://goo.gl/fhPbGq

You can also read ...

The treasury department in Washington
Foreign governments pulled back their purchases of longer-term...
Brazil, India Corporate Debt at Risk of Default
A 200 basis-point increase in interest rates could spark a...
Shares of petrochemical companies in Asia slumped on Tuesday, tracking the global equity downturn overnight.
The trade dispute between the world’s two largest economies...
Six people including two former HBOS bankers were jailed last year.
An internal Lloyds Banking Group report written by a former...
BoK Hints at Rate Increase
Bank of Korea Gov. Lee Ju-yeol indicated Tuesday that the bank...
China Accuses Trump of Blackmail, Vows Strong Retaliation
China vowed to retaliate after President Donald Trump...
London Metals Cut Losses
London metals edged higher and Shanghai contracts cut early...
Mario Draghi
Mario Draghi promised that the European Central Bank will take...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus