Investors look beyond Africa’s oil, minerals

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Investors look beyond Africa’s oil, minerals

International investors putting money in Africa are looking beyond the oil and mineral sectors and Africa’s top economies as they hunt for new business, according to a report by Ernst & Young. The advisory firm’s survey of more than 500 global business leaders showed investors “are looking beyond the more established markets of South Africa, Nigeria and Kenya to expand their operations”. The number of projects in South Africa and Nigeria declined last year, while there were increases in Ghana, Mozambique, Tanzania and Uganda. South Africa has seen a significant slowdown in economic growth in recent years, amid labour unrest, policy uncertainty and vast unemployment. – Sapa-AFP

Numsa plots new political party

The National Union of Metalworkers of South Africa (Numsa), is taking steps to create a political party that may contest the 2016 local council elections. Numsa, which has 345,590 members, would mobilise workers in a grouping called the United Front that might result in a political party, general secretary Irvin Jim told reporters in Johannesburg yesterday. – Bloomberg

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