Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star.
Category: South Africa
Telkom Said to Consider $1 Billion Bid for South Africa’s Cell C
Telkom SA SOC Ltd. is considering a bid of as much as $1 billion for South African wireless operator Cell C Pty Ltd., which has missed debt payments and is trying to complete a recapitalization, according to three people familiar with matter. Investment banks are also approaching other potential bidders with the firepower to take on the deal, said two of the people, who asked not to be identified as the matter is private.
Citigroup Pays $5.4 Million in Rand-Rigging Probe Settlement
Citigroup Inc. agreed to pay a penalty of almost 70 million rand to settle a South African antitrust investigation that said the U.S. bank participated in an alleged cartel to manipulate the value of the rand. “There could well be other settlements now that it seems the parties are prepared to come forward,” Patrice Rassou, head of equities at Sanlam Investment Management in Cape Town, said in an e-mailed response to questions on Monday.
The economic reality behind the Boeing plane Trump showed off
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events NORTH CHARLESTON, S.C. — President Trump visited a Boeing factory Friday to show off the company’s newest model of the 787 Dreamliner , the latest in a series of planes that experts describe as a marvel of aeronautical engineering. The fuel-efficient construction allows the newest model to fly from London to Cape Town, South Africa, without refueling – an extraordinary distance for a 330-passenger There is one number on which the Dreamliners are still coming up short, however: return on investment.
Creating ‘one-of-a-kind’ perfumes in South Africa
Perfumes are a very personal choice and one Cape Town perfume maker has taken this idea to heart by making her own range of perfumes – from scratch.
Deutsche Bank Said Last Lender to Stop Angola Dollar Clearing
Deutsche Bank AG stopped providing dollar clearing in Angola, leaving one of Africa’s biggest oil-producing nations without a lender to supply the service, according to three people with knowledge of the matter. The company ceased dollar clearing for Angola in mid-November, said two of the people, who asked not to be identified because they’re not authorized to speak to the media.