Brazil Business News

BRICS – Brazil, Russia, India, China … and South Africa (or BASIC?)

Denmark's Queen Margrethe (C) gives a toast to German Chancellor Angela Merkel (3rd L), U.N. Secretary General Ban Ki-Moon (L), China's Premier Wen Jiabao (3rd R), South Africa's President Jacob Zuma (2nd R), Mexico's President Felipe Calderon (R) and other guests during a dinner at the United Nations Climate Change Conference 2009 in Copenhagen December 17, 2009.

Denmark's Queen Margrethe (C) gives a toast to German Chancellor Angela Merkel (3rd L), U.N. Secretary General Ban Ki-Moon (L), China's Premier Wen Jiabao (3rd R), South Africa's President Jacob Zuma (2nd R), Mexico's President Felipe Calderon (R) and other guests during a dinner at the United Nations Climate Change Conference 2009 in Copenhagen December 17, 2009.

BRICS or BASIC? For many a year mere mention of the term BRIC has been guaranteed to set South African officials’ teeth grinding.

As the economic powerhouse of sub-Saharan Africa, South Africa has long dreamt of being a global player since the end of apartheid – and been frustrated by the fascination of so many economists with the big four emerging economies, the so-called BRIC nations (Brazil, Russia, India, and China), to the exclusion of South Africa.

Now, however, South Africa is daring to dream again, as is Jacob Zuma, its sometimes controversial leader, who just may have found a compelling geopolitical theme for his nine-month-old presidency.

Much has been made of the dramatic final evening at December’s climate change conference in Copenhagen when Barack Obama paid a call on the Chinese delegation, only to find that a meeting was already under way between Chinese, Brazilian, Indian, and South African leaders. Read the rest of this entry »

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Nigeria’s Returning Entrepreneurs: Horizon Capital Investment (HCI) & Veda Technology

Kabir Audu has returned to Nigeria after working on Wall Street

Kabir Audu has returned to Nigeria after working on Wall Street

Kabir Audu is a very successful Nigerian. He’s 30. And he has an idea.

“It was Ben Gurion in the late 1940s,” he says.

“He called on Israelis around the world to come home. To build an Israel greater than their wildest imagination.”

He pauses.

“We see Nigeria every day – tremendous talent, this tremendous potential. Imagine if it’s wielded toward one vision.”

Kabir and his friend Tunji Abdul are living proof of Nigeria’s mass migration homeward.

Both were making a fortune on Wall Street. Both were bored. They launched Horizon Capital Investment (HCI). Read the rest of this entry »

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VIDEO: Eye on Lagos – A Day in Lagos – Lagos City

Watch more videos on Lagos, Nigeria

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Source(s): CNBC Africa

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South African Hedge Fund Industry Presents a Compelling Case through Global Downturn, Says Hedgeweek

HedgeweekSouth Africa’s market architecture has withstood the seismic shocks unleashed by the global financial market collapse. While the rest of the world, including the in-favor quartet of Brazil, Russia, India and China, dusts itself off and revisits the drawing board, South Africa is ready to capitalize on its solid foundation and prudent construction in an environment of fast-paced recovery.

A sophisticated, regulated, and transparent environment that offers multiple opportunities for alpha extraction in a maturing market, South Africa is unfortunately still often overlooked when it comes to allocations to emerging market economies.

On a structural level, South Africa’s infrastructure has the bells and whistles that one should expect from a ‘new world’ financial system. Its banks are strong, competitive and well-capitalized. Over the past few months there have been no crises or need for government bail-outs. There is open communication and collaboration between regulators and market participants, who are already comfortable with the concept of unrestricted regulatory insight into activities and a conservative approach to consumer credit and financial engineering. Read the rest of this entry »

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White South Africans Feel Pull of Home

Cape Town life: some younger professionals take a more realistic view of their country’s prospects

Cape Town life: some younger professionals take a more realistic view of their country’s prospects

After 15 years in London, Willem De Klerk was apprehensive when he came home to South Africa at the end of last year.

“When I raised it with my friends they told me I was making the biggest mistake of my life,” says the 41-year-old former civil servant. However, it has not taken him long to realize he made the right decision.

“Life in the UK has got very hard and in the last six months we found it impossible to break even,” says Mr De Klerk, who says he, his wife, and small child opted to swap their house outside London for a property three times as big near Pretoria, South Africa’s capital.

“We liked what we could get for our money here and are doing better than we have ever done before in our lives,” he says.

Mr De Klerk may be part of a growing trend. A year ago, with power cuts, xenophobic violence, persistently high crime, and political uncertainty contributing to a mood of near despair in better-off suburban areas, it appeared that white South Africans could not get out of the country quickly enough. Read the rest of this entry »

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Zondwa Mandela, Mandela’s Grandson, Eyes Africa Deals

Zondwa MandelaAs a small boy, Zondwa Mandela regularly visited his grandfather Nelson Mandela and grew close to the legendary leader of the anti-apartheid struggle. After Nelson Mandela was released from prison in 1990, he would often interrupt his paperwork to conduct impromptu exercise sessions and dispense advice to his young grandson.

“We would do press-ups … and he would do them on two fingers, he was a very strong man.” laughs Zondwa Mandela, who is the son of Nelson Mandela’s youngest daughter. “The big key, he used to say, was education and that you always needed to remain grounded. But the lesson I always learned from him is that everything is possible.”

Two decades on, Zondwa Mandela, who is now 25, is putting his grandfather’s counsel to the test as he sets his sights on a business career. Together with another man with a prominent political name, Khulubuse Zuma, the 39-year-old nephew of South Africa’s new president, Jacob Zuma, Zondwa Mandela has launched an ambitious venture that will invest in African emerging markets.

“We want to find something, improve it, and expand on it. But we want to do something for Africa and empower its people,” says Zondwa Mandela. His language clearly seeks to echo the idealism that led his grandfather to sacrifice the best years of his life to the fight against apartheid.

His new venture still has much to prove if it is to be seen as a serious business and not an instance of two scions of prominent families trading on their famous names.

The business will certainly have a rather easier ride than his grandfather faced in his youth. The pair are well placed to benefit from controversial black empowerment policies, under which, since 1994, large chunks of corporate South Africa have been transferred to black owners. Read the rest of this entry »

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