South African Asset Managers’ Response to Shifting Investment Trends and Political Uncertainty

In the midst of evolving investment landscapes, South African asset managers have notably adjusted their strategies, as highlighted in the 2023 Alexforbes Manager Watch Annual Survey. Over the past five years, a discernible trend has emerged, with a greater focus on global equities alongside recalibrations in domestic allocations. However, this strategic maneuvering unfolds against a backdrop of political uncertainty following national elections, with discussions of a Government of National Unity stirring market volatility. Yet, armed with insight and adaptability, South African asset managers remain poised to navigate these challenges, steering investments towards long-term prosperity amidst shifting sands.

Zimbabwe Licenses Starlink for Satellite Internet Services in Strategic Tech Partnership

Zimbabwe has officially licensed Elon Musk’s Starlink to provide satellite internet services, becoming the eighth African country to do so. President Emmerson Mnangagwa announced the partnership with local company IMC Communications, owned by his associate Wicknell Chivayo. This move aims to revolutionize Zimbabwe’s digital landscape by offering high-speed, low-cost internet, particularly benefiting rural areas. Economist Stevenson Dlamini highlighted the potential cost challenges but emphasized the long-term benefits for schools, hospitals, and other public facilities.

Atlantic Lithium Makes History on Ghana Stock Exchange

On May 13th, 2024, Atlantic Lithium made history by becoming the first lithium-focused company to trade on the Ghana Stock Exchange (GSE) under the ticker “ALLGH.” This milestone marks the beginning of Ghana’s first lithium mine, the Ewoyaa Lithium Project, which is set to produce 365,000 tonnes of spodumene concentrate annually. The listing offers Ghanaians a unique investment opportunity and signifies a major step in the country’s economic and green energy transition efforts.

UNDP Announces Groundbreaking Start-Up Ecosystem Event in South Africa

The United Nations Development Programme (UNDP) is thrilled to announce an exciting new event in South Africa as part of the “UNDP Meet the Toshikas” initiative, which also spans Angola and Zambia. This event is set to connect investors, accelerators, incubators, local corporates, and governmental bodies with innovative start-ups. Out of 254 applicants, 10 outstanding start-ups from South Africa have been selected to pitch their groundbreaking ideas. The event will feature insightful presentations and panel discussions with key ecosystem stakeholders and esteemed Japanese investors, fostering robust

business networks and facilitating collaboration opportunities. Supported by Japan’s Ministry of Economy, Trade, and Industry (METI), “Meet the Toshikas” aims to empower young African entrepreneurs, enhance their competitiveness, and attract Japanese venture capital investment to Africa. For more information, visit UNDP Meet the Toshikas.

Nigerian Government Revokes Hundreds of Dormant Mining Licenses

In a sweeping move aimed at revitalizing Nigeria’s mining sector, the Federal Government, acting through the Ministry of Solid Minerals Development, has revoked a staggering 924 dormant licenses. This bold step, following a similar revocation in November 2023, underscores the government’s commitment to combat license speculation and promote active mining. Minister Dele Alake emphasized the adherence to due process, providing license holders ample notification through official channels. The revocation, spanning exploration, mining, quarrying, and small-scale mining licenses, aims to allocate resources to those committed to productive mining activities, fostering economic growth and transparency in the sector.