1) Rand Leads Currency Gains as SABMiller-Inflow Talk Sparks Rally
(Bloomberg) -- South Africa’s rand strengthened to a one- month high against the dollar, leading
global currency gains, amid speculation Anheuser-Busch InBev SA has started buying the
currency to pay local shareholders for its $104 billion acquisition of SABMiller Plc. The rand gained
1.3 percent to 13.7334 per dollar by 11:48 a.m. in Johannesburg, the most out of 31 emergingmarket and major currencies tracked by Bloomberg.
2) South Africa Inflation Rate Falls Into Target Band in August
(Bloomberg) -- South Africa’s inflation fell below the upper end of the central bank’s target band
in August for the first time this year, leaving room for policymakers to continue to pause their
tightening cycle. The rate fell to 5.9 percent from 6 percent a month earlier, Statistics South
Africa said in a report released Wednesday in the capital, Pretoria. That was in line with the
median of 24 economist estimates compiled by Bloomberg.
3) Africa Left in Dark as $9.7 Billion Obama Power Plan Falls Short
(Bloomberg) -- President Barack Obama’s signature initiative for Africa -- a $9.7 billion plan to
double electricity access in the world’s poorest continent -- has fallen well short of its goals, so far
producing less than 5 percent of the new power generation it promised. Obama announced Power
Africa three years ago with an ambitious goal: to add 10,000 megawatts of power and supply
electricity to 20 million households within five years.
4) Namibian President Says $5 Billion Funding Hinges on Rand
(Bloomberg) -- Namibia will seek to raise about $5 billion in loans and bonds over the next
decade to help diversify and industrialize its economy with any debt sales to take place in South
Africa, according to the country’s president. The southwest African nation plans to issue randdenominated bonds and get funding from countries including the U.S., China, India and Japan,
according to President Hage Geingob.
5) Student Protests Over Fees Shut South African Universities
(Bloomberg) -- South African universities suspended classes and closed campuses as police
clashed with students protesting tuition fee increases and demanding free education. The
University of the Witwatersrand in Johannesburg, where police fired tear gas at stone-throwing
students on Tuesday, halted all activities for the rest of the week, it said in a statement.
6) Abraaj Seeks Shelter From Africa’s Economic Woes in Health Care
(Bloomberg) -- Private-equity companies are taking advantage of a surge in demand for healthcare products in Africa to invest in a market that’s suffering from government underfunding. Abraaj
Group Ltd. invested $145 million to improve facilities and medical equipment at hospitals and
clinics in Tunisia and Egypt, with a similar amount now being planned south of the Sahara.
7) Futuregrowth Seeks ‘Right Side of History’ With Clean Coal
(Bloomberg) -- Futuregrowth Asset Management, South Africa’s largest specialist fixed-income
money manager, said it won’t participate in funding of coal-fired power generation until the industry
develops environmentally sustainable methods of operating. The decision is based on the
company’s investment principles, Chief Investment Officer Andrew Canter said Tuesday at a
conference on sustainable investment in Johannesburg.
8) Giant Gold Fields Mine Won’t Be So Giant for Up to Five Years
(Bloomberg) -- Gold Fields Ltd.’s South Deep mine will be smaller than initially planned for at
least the next three years as the company focuses on keeping it profitable, Chief Executive Officer
Nick Holland said Tuesday. Last year, the Johannesburg-based company dropped a target for
South Deep to produce 650,000 ounces to 700,000 ounces by 2017 after years of technical
problems.
9) Pan African Resources Gains in Johannesburg After FY Earnings
(Bloomberg) -- Stock climbs 3.6% to 3.42 rand as of 9:30am in Johannesburg, the biggest gain
since July 7 on a closing basis, after full-year sales beat estimates, gold production rises to record.
* About 130,000 shares traded, 5% of 3-month daily avg.
10) Balwin Properties Drops to 4-Month Low After Trading Statement
(Bloomberg) -- Stock tumbles 9.3% to 8 rand by 1:49pm in Johannesburg, lowest since May,
biggest drop since Dec. on closing basis. * About 831,000 shares traded, 1.8 times 3-month daily
avg. * NOTE: Balwin Properties sees 6-month EPS, HEPS 33%-38% lower.