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What are Africa's pension funds investing into?
March 13, 2015--Pension funds in 10 African countries already have $379 billion in assets under management-85% or $322bn of it based in South Africa-and they continue to grow very fast.
That means careful thinking about how to nurture Africa's savings pool while the need to deploy these resources most productively puts the spotlight on the search for quality investment assets. For example, Ghana's pension fund industry reached $2.6bn by Dec 2013 after growing 400% from 2008 to 2014. Nigeria's industry has tripled in the last 5 years to some $25bn in assets by De 2013, and assets under management are growing at 30% a year.
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Source: Africancapitalmarketsnews
SA stocks rebound from 3-day losing streak
March 12, 2015--SA stocks have ended higher, breaking a three-day losing run, with heavily weighted mining
shares adding the most points to the benchmark index as metal prices recovered.
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Source: FIN24
Rand jumps more than 1%
March 12, 2015--The rand recouped some more of this week's steep losses,
firming more than 1% while government bonds gained on renewed expectations of an interest rate hike.
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Source: FIN24
Kenya Among the Fastest Growing Economies in Africa
March 11, 2015--Buoyed by falling oil prices, Kenya's growth is projected to rise from 5.4 percent in 2014 to 6-7 percent over the next three years (2015-2017), making it one of the fastest-growing economies in Sub-Saharan Africa according to the latest Kenya Economic Update (KEU) published by the World Bank.
The eleventh edition of the KEU notes that external and internal balances are expected to improve significantly, thanks to falling oil prices. In addition public investment in infrastructure, mainly in energy and standard gauge railways, will strengthen growth in the medium term.
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Source: IMF
Naspers lift boosts JSE resources
March 11, 2015--Naspers has been one of the few shining lights on the JSE, with the share's 2.34% increase helping to
stem the negative influence of the tumbling resources sector.
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Source: FIN24
Rand recoups some of steep losses against dollar
March 11, 2015--The rand recouped some of its steep losses against the dollar, gaining 1%, but still hovered around
the 13-year low hit after a sell-off of emerging market currencies.
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Source: FIN24
SA stocks sink again as commodities routed
March 10, 2015--SA stocks have dropped for a second session in a row, pulled down once again by a global resources
sell-off that saw platinum hit five-year lows and iron ore plumb a record trough.
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Source: FIN24
Rand hits fresh low against surging dollar
March 10, 2015--The rand has extended losses against the dollar to 1.5% as it
hit a session trough of R12.2700/dollar, its weakest level since March 2002.
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Source: FIN24
Rand hits new 13-yr low on US rate hike hopes
March 9, 2015--The rand has hit a new 13-year low against the dollar, after investors sold off emerging market
currencies amid expectations of an imminent interest rate hike in the US.
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Source: FIN24
JSE surges on financial and industrial stocks
March 6, 2015--The All-share index has hit yet another new high as financial and industrial shares pushed the JSE
higher by midday.
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Source: FIN24
