Africa's largest media firm, Naspers, said on Tuesday it would buy UK Internet auction firm Tradus for 946 million pounds ($1.90 billion) to extend its reach into central and eastern Europe.
South Africa is a middle-income emerging market. Natural resources are abundant; the financial, legal, communications, energy and transportation sectors are well developed; and infrastructure is modern and efficient. The stock exchange is among the ten largest in the world.
Emerging markets specialist Standard Chartered is in takeover talks with South Africa's fourth-biggest bank, Nedbank Group, financial daily Business Day reported on Thursday.
The best way to ride the rally? Play the global marketplace, said two portfolio managers on “Closing Bell.” Christopher Smart, director of international investments at Pioneer Investments, said emerging markets show strong demographic trends. He’s eyeing South Africa, for example. ... But Donald Coxe, a global portfolio strategist at BMO Financial Group, urges investors to exercise caution. He thinks Canadian and Australian markets are the wisest choices, especially in the mining sector: “You don’t have the kinds of risk you have in Russia.”
Global brewing giant SABMiller said on Thursday its annual worldwide underlying beer volumes rose 10%, and said its financial performance was in line with its own expectations.
African nations like Sierra Leone and Namibia might not seem like they would be the first place investors looked to put their money. But they are exactly where China has been investing heavily over the past couple of years. And that raised the question--why is the world’s most populous nation pouring money into the world’s poorest continent?