Robert Brand
@robbrand
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Journalist, Bloomberg News, Cape Town. //Views expressed are my own, not those of my employer.//
Cape Town, South Africa
Joined March 2009
“The election uncertainty has been weighing on South Africa so an outcome that rules out a populist government would be received well by the market,” said Kaan Nazli of Neuberger Berman
bloomberg.com
South Africa’s financial markets are brimming with optimism as voters get ready to cast their ballot.
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Of the 26 Investors surveyed most say they prefer South Africa over investing in Egypt or Nigeria, Africa’s two other powerhouses https://t.co/Qzki44ropp
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Investors were quick to point out that any rally will be short-lived unless the new government makes some dramatic reforms https://t.co/Qzki44qQzR
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The majority of money managers say they will likely increase exposure if the election results in a coalition between the ANC and DA via @ColleenGoko
https://t.co/Qzki44ropp
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African nations say they won't forego oil and gas development to save the planet when wealthier countries aren't meeting pledges to help them adapt https://t.co/oxFyHlnKoY via @business
bloomberg.com
African leaders say industrialized countries should pay to save the planet rather than expecting them to forego oil and gas development.
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“It is a case of the damage being done and too late to reverse” https://t.co/rKITZEylMu via @markets
bloomberg.com
Nigeria’s bonds sank to near record lows last week as the finance minister failed to calm investor nerves after unintentionally implying the government may ask for a haircut on its debt.
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South African borrowing costs will only be lowered when inflation’s retreat is sustained, the central bank Governor Lesetja Kganyago says https://t.co/kzEdnbc2gE via @markets
bloomberg.com
South African borrowing costs will only be lowered when inflation’s retreat toward the midpoint of the central bank’s target range is sustained, Reserve Bank Governor Lesetja Kganyago said.
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Nice scoop by colleague @LoniPrinsloo1; Telkom shares fall 20%. MTN walks away from talks to buy Telkom in a deal that would have created South Africa’s largest mobile phone operator https://t.co/Jh2GnrZXag via @technology
bloomberg.com
MTN Group Ltd. has walked away from talks to buy Telkom SA SOC Ltd., a deal that would have created South Africa’s largest mobile-phone operator. Telkom shares sank the most since 2009, wiping out...
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The US is reportedly considering a ban on Russian aluminum. Russia is the world’s second-largest producer of aluminium after China. Russian supplies account for 10% of total US aluminium imports. - ING Would be an opportunity for South Africa if our rail and ports worked.
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Nigeria will be seeking to extend the tenors of its outstanding debts and not necessarily “restructure” its obligations, the country's finance minister said https://t.co/2VOf03Fq82 via @markets
bloomberg.com
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South Africa’s ports and freight-rail operator raises its wage offer to employees to end a week-long strike that’s hobbling commodity exports https://t.co/dPo2N7Jjc5 via @bpolitics
bloomberg.com
South African labor unions at the national ports and freight-rail operator rejected a revised wage offer and said they plan to intensify a strike that’s hobbling most of the nation’s mineral exports.
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Governments should keep trimming the budget deficits they ran up in the pandemic, even as they seek to help households hit by soaring energy and food prices, the IMF said https://t.co/8LbxCOJogg via @business
bloomberg.com
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Zambia’s Finance Minister Situmbeko Musokotwane has urged other African nations considering using the Group of 20’s Common Framework mechanism to restructure unaffordable debt to act quickly https://t.co/EEWV3hJV2b via @bpolitics
bloomberg.com
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Another domino? Nigeria is considering restructuring its debt and extending the repayment period of its credit obligations, Finance Minister Zainab Ahmed says in an interview https://t.co/cXwywaZwc3 via @markets
bloomberg.com
Nigeria is considering restructuring its debt and extending the repayment period of its credit obligations, and appointed consultants to advise the government as it faces a rising debt-service...
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IMF revised down their world growth forecast for 2023 to 2.7%, compared with prior estimate of 2.9%. Growth forecast for most countries has been reduced including South Africa. IMF anticipates that SA will grow by only 1.1% in 2023, which is dismal given SA’s population dynamics
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JPMorgan’s Michele Warns Mighty Dollar May Trigger Next Crisis https://t.co/H6XrUES8cY via @markets
bloomberg.com
Bob Michele, the outspoken chief investment officer of J.P. Morgan Asset Management, has a warning: the relentless dollar could forge a path to the next market upheaval.
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Ghana forms a committee to start talks with its domestic bondholders as part of a plan to secure a potential $3 billion loan from the IMF https://t.co/DcORHlbizE via @markets
bloomberg.com
Ghana has formed a committee to start talks with its domestic bondholders as part of a plan to secure a potential $3 billion loan from the International Monetary Fund.
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Meanwhile, in the real world: Rare drone footage shows a pod of orcas killing a great white shark off the south coast of South Africa. Now sharks haven’t been seen in the area for weeks https://t.co/qEf79GBvKH via @business
bloomberg.com
A drone operator and helicopter pilot captured rare footage of a pod of orcas killing a great white shark near Mossel Bay on the south coast of South Africa. Now sharks haven’t been seen in the area...
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Nigeria raises its domestic and foreign borrowing requirement by 15% to fund a record budget deficit, piling pressure on the debt-servicing burden in Africa’s biggest economy https://t.co/MuCPeNc77Z via @markets
bloomberg.com
Nigeria raised its domestic and foreign borrowing requirement by 15% to fund a record budget deficit, piling pressure on the debt-servicing burden in Africa’s biggest economy.
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