Category Archives: South africa

Brics increasing trade with Africa

China boosts its trade ties with Africa by signing a  number of new deals with Tanzania as competition heats up for the continent’s mineral wealth and oil reserves. 2000 chinese companies are dealing  with African continent  and doing business in africa.’

2013 Brics Summit

heads of state bric 2013 summit

The 2013 BRICS summit will be the fifth annual BRICS summit, an international relations conference attended by the head of states or heads of government of Bric nations

The city of Durban, located on the coast of the Indian Ocean, Republic of South Africa, hosts on 26-27 March Bric summit. BRICS is an acronym that refers to the founding members of the BRIC group comprising Brazil, Russia, India and China which now includes Africa

The BRICS nations hold a combined foreign-currency reserves of $4.4 trillion and  has 43 percent of the world’s population and is currently rapidly growing  in their economic power.

Heads of state BRICS 2013

BRICS’ – Brazil’s President Dilma Rousseff, Russia’s President Vladimir Putin, India’s Prime Minister Manmohan Singh, China’s President Hu Jintao and South Africa’s President Jacob Zuma.

India has increasingly grown its manufacturing base in china  and done telecom deals in the past  with African businesses. In recent news the biggest emerging markets are uniting to tackle under-development and currency volatility with plans to set up institutions that encroach on the roles of the World Bank and International Monetary Fund.

Chinese President Xi Jinping will set out plans for mining and infrastructure development on a trip to Africa this week  and during his eight-day trip Xi, 59, stops in Tanzania, Congo Republic and South Africa,  he’ll sign business cooperation deals and attend a summit of BRICS nations

Economic data shows that the BRICS now account for 25 percent of global GDP and 40 percent of the world’s population.

The leaders in the 2013 summit , in South Africa will gather to discuss a proposal to challenge World Bank domination with a new “World development bank” . The grouping of Brazil, Russia, India, China and hosts South Africa are racing to elaborate on proposals for an infrastructure-focused lender that would challenge seven decades of dominance by the World Bank.

The proposal of this new bank will be competition to World Bank, the International Monetary Fund  which has its roots in the US

Zimbabwe polls In south africa

Zimbabwe’s new constitution was supported by the countries’ two main political parties who have been in a power-sharing government since 2009 and approved by an overwhelming majority in Saturday’s referendum as reported by electoral commission

Qatar Motor Show 2011 Pictures

It is said Zanu-PF’s 89-year-old leader, President Robert Mugabe, will be able to stand again in elections expected in July. Official results show 3,079,966 voted "Yes", 179,489 voted "No", with 56,627 recorded spoilt ballots.

 

In other news

Raila Odinga files Kenya election appeal – Kenyan Prime Minister Raila Odinga has filed a Supreme Court appeal against Uhuru Kenyatta’s narrow victory in the presidential election’s first round  .. read more

Chinese-built ghost town in Angola ( whos profiting)?

One group of workers are paid to pump oil, which is offshored to China. In exchange, a group of Chinese workers is paid to build a gate-guarded enclave for a non-existent pool of mega-rich locals that no one can afford to live in..read more

Brazil economy slowdown fears and currency swaps

President Dilma Rousseff is said  to cut federal taxes  according to a government official with knowledge of the decision, with cuts on basic foods in a bid to tame inflation, after a report showed today consumer prices rose more than analysts forecast for an eighth straight month.

golden bull of investing in gold

Brazil’s swap rates climbed to a six-month high as a report showed annual inflation accelerated in February, fueling speculation the central bank will lift borrowing. Latin America’s biggest economy expanded 0.9 percent in 2012, its slowest pace in three years, the national statistics agency reported March 1

Tax cuts failed to kick-start the economy last year,  in spite of  weaker currency and lower cost borrowings.  The Annual inflation grew to 6.31 percent and has exceeded the central bank’s 4.5 percent target for 30 months with economists forecast 2013 inflation at 5.7 percent.

BRAZIL GDP GROWTH RATE

The Gross Domestic Product (GDP) in Brazil expanded 0.60 percent in the fourth quarter of 2012 over the previous quarter. GDP Growth Rate in Brazil is reported by the IBGE.

Brazil currency “real” has rallied 5.5 percent against the dollar this year, with  the central bank has swung between selling currency swaps to prevent the real from falling too quickly and offering reverse currency swaps to protect exporters by preventive excessive gains.

OGX Petroleo & Gas Participacoes SA (OGXP3) to LLX Logistica SA (LLXL3) surged yesterday as investors put faith in Esteves, whose BTG is the most profitable Brazilian bank and likes his chances of bringing back these companies on track and profitability.

Brazilian billionaire Eike Batista signed an agreement this week with Grupo BTG Pactual’s Andre Esteves to co-run a strategic and financial management committee for his six publicly traded companies. Esteves, 44, is worth $4.9 billion, according to the Bloomberg Billionaires Index with his fortunes derived mostly from his 22 percent stake in BTG Pactual.

Africa Mining and the Future

Mining is a growing   enterprise in many African countries.  The continent is known to be producing over 60 mineral and metal products through mining. Several countries in the  African continent  are known for  producing the world most  vital mineral  and metal products such  as  Gold, Silver Diamonds, Chromium, Uranium, Manganese, Cobalt, Nickel, Bauxite and  a lot more.

Future of Mining industry in Africa

Although the mining business is thriving in African to some extent, the continent still remains underexplored.  Despite this, the continent is known for hosting over 30% of the world’s mineral reserves with particular emphasis on gold, diamond and cobalt.  In fact, the mining development in the continent has been focused on diamond and gold exploration.  Yet,   a lot need to be achieved in the near future.  Several explorations need to be carried in order to maximize the natural resources available in many of the African countries.

Several African nations are known   for having thriving mining enterprise. Madagascar and Nigeria have the greatest potentials   for industrial and base metal deposits.  However, the mining enterprise is mainly thriving in Ghana, South Africa, Zambia, DRC, and Tanzania.  Other countries rely on the mining industry as major foreign currency earners. Among such African countries include Namibia, Zambia, Botswana and Sierra Leone.

Currently, several new mines are opening up in some African countries such as South Africa, Tanzania, Namibia, Gabon and Botswana.  Some of the metals and minerals expected to be mined in such countries include gold, chrome, niobium products, diamond and base metals.   A lot of new discoveries are being made in many of the African countries.  For instance, there’s a recent discovery of diamond in Mauritania and in Southern Namibia.

Mining potential in African Countries

In any case, despite the potential of the mining enterprise in Africa, the future of   the business is very bleak. This is because of the incessant political and economic turmoil that characterize the African continent.  Several African nations have passed through civil wars.  Some of them are currently having   political and economic problems.  Political instability, bribery and corruption are thriving in many of the African nations.  This has continued to affect the development of the mining industry and other vital economic sectors.

Again, the growing insecurity in the African continent also poses a great threat to the mining enterprise.  There’s the issue of guerrilla attacks, Boko Haram terrorist attacks, armed robbery, bombings and killings here and there.  All these ugly facts have continued to mar the future of mining in the continent.  Several mines in some of the affected countries have been shut down.  The global economic crisis also affects the mining business in Africa.

In any case, there’s still hope for the African mining enterprise despite the challenges on ground. It’s expected that future governments in the African nations will rise up to the challenge of promoting the mining business. We still hope for a better future in the midst of the existing challenges.

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BRICS Plan to open own South-South Development Bank

The leaders of the Brics Countries  Brazil, Russia, India, China and South Africa — collectively known as the BRICS — “agreed to examine in greater detail a proposal to set up a BRICS-led South-South Development Bank which will be like a “Bric fund” , funded and managed by the BRICS and other developing countries,” said Prime Minister Manmohan Singh of India.

BRICS brazil stock market  India summit

Brazil and India sign six pacts  in BRICS Summit Including BRIC Fund

A day after the BRICS summit, India and Brazil Friday decided to step up efforts to push the UN reforms and signed half a dozen pacts in areas ranging from science and biotechnology to cultural exchanges. This Includes  a BRIC fund to be set up in the form of a Development Bank for these and other growing economies.

The BRICS  that were initially just BRIC but now BRICS with the inclusion of South Africa  as well met at New Delhi on Thursday for their fourth annual summit.  Brazil, Russia, India and China became the ‘BRICs’ in a 2001 by Goldman Sachs in a report looking at the developing nations which may in time challenge the collective economic might of the G7. They discussed plans a the Brics Conference towards establishing a development bank that could one day serve as an alternative to the World Bank.

Together, the BRICS nations make up more than 40% of the world population and one-fifth of the global economy. On Thursday, the BRICS grouping including Brazil, Russia, India, China and South Africa called for dialogue to resolve the Iranian nuclear standoff and the Syria crisis.

Growth in BRICS Countries and BRIC FUNDS & INVESTMENTS

Brazil has seen its once rapid blistering economy slow to an estimated 2.7% this year. Russia’s recovery from the global recession has been slow compared with other developing economies even though they had a good year with oil  and gas earnings due to the mediterranen conflict, the World Bank said in a report this week. Growth in India has steadily fallen in the last 2 years due to inflation int eh county and other external factors