In the news today: Slower growth and more debt on the cards for South Africa, a new government bailout for South African Airways and Hollard’s pkans to expand across Africa and Asia unpacked

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Slower growth and more debt on the cards for South Africa

South Africa’s new Finance Minister Tito Mboweni’s first major policy statement almost halved the treasury’s growth forecast while predicting a steady increase in debt and borrowing.  READ MORE

South African Airways and Post Office get bailouts

South African Airways (SAA) will get a $357 million government bailout, whilst SA Express will receive $82 million. The South African Post Office, in turn, is to get $199 million in government support.  READ MORE

African Development Bank in $500m credit insurance deal

The African Development Bank (AfDB) and African Trade Insurance Agency (ATI) have announced the successful completion of a $500 million credit insurance deal, structured to cover a portion of the Bank’s portfolio of non-sovereign operations in Africa.  READ MORE

Why Yellowwoods is investing in South African insurance companies

What do South African companies Simply Financial Services, Hollard, Clientelle, Telesure and Direct Axis have in common? They all received investments from Yellowwoods, a private investment group with interests in insurance ventures around the world.  READ MORE

Hollard to expand across Africa and Asia

Hollard is on a mission to expand its footprint across Africa and Southeast Asia. The group already operates in 10 countries outside South Africa including Mozambique, Botswana, Lesotho, Zambia, Ghana, Indonesia, China and Pakistan.  READ MORE