In the news today: The SA pension fund may shift hundreds of billions of rands offshore, Egypt is Africa top investment destination and South Africa’s business confidence fell last month


South African State pension fund may shift billions offshore

South Africa’s Government Employees Pension Fund (GEPF), which looks after R2-trillion on behalf of government workers, may shift hundreds of billions of rand offshore as it seeks to reduce its dependence on the local market.  READ MORE

RMB: Egypt Africa’s new top investment destination

Rand Merchant Bank has released the eighth edition of its Where to Invest in Africa report, which analyses 53 African economies according to their investment attractiveness. Egypt appears to be the most attractive investment market.  READ MORE

South Africa’s financial sector still locks out black asset managers

Black asset management firms manage only 6% of all savings and investments in South Africa, and 0.8% of unit trust assets, a recent survey on transformation by 27four Investment Managers shows.  READ MORE

South Africa’s business confidence index falls in August

The South African Chamber of Commerce and Industry (Sacci), in its new Business Confidence Index (BCI) survey, said South Africa’s business confidence fell in August to 90.5 from 94.7 in July. A decline in merchandise export volumes, a weaker rand and higher inflation are key culprits.  READ MORE

MTN boss calls for lower cellphone tariffs in Africa

African governments should lower import tariffs on handsets to boost internet adoption, MTN CEO Rob Shuter says. This is good for their economies, he noted, referring to figures that state that a 10% increase in internet coverage results in a 1.4% GDP growth increase. READ MORE

Munich Re: First principles should guide life insurance tech innovations

African life insurance providers must keep the four first insurance fundamentals ‘top of mind’ when designing and implementing technology-backed risk solutions, said Munich Re earlier this week. READ MORE