AFRICA NEWS ON FASTMOVING

The Rockefeller Foundation will pledge close to US$100 million (R900m) to create digital field jobs in Africa, it was announced at the World Economic Forum on Africa on Thursday (9 April).  read more

The Middle East and Africa PC market experienced a significant decline of 14.1% year on year during the first quarter of 2013, with tablets eating into market share in South Africa. read more

A wine company bearing the name of the former president Nelson Mandela has been established in the United States, the Sunday Sun reported. read more

Continued growth in sub-Saharan Africa, including South Africa, and the benefits derived from a weak rand resulted in the Distell Group raising revenue year-on-year by 9,3% to R8,7 billion for the six months to December 2012.  read more

With about 225 stores in 15 countries, Max Fashion, a premium clothing chain in the United Arab Emirate (UAE) is set to undergo a major expansion spree this year in Africa among other regions. It is particularly shifting its attention to sub-Saharan Africa among other regions in the world. read more

The trend towards luxury is percolating down into Africa’s expanding middle class, says Daphne Kasriel-Alexander, consumer editor at market research company Euromonitor International. read more

London/Johannesburg - An African has to work three hours on average to afford a beer, compared with 12 minutes for a European, and yet the continent is the global hot spot for beer growth, such that the world' Africa's ber shis big brewers are struggling to keep pace. read more

Johannesburg - South African group Illovo Sugar [JSE:ILV] has pulled out of a R2.6bn sugar project in Mali, largely due to political risk and also funding difficulties, and will focus on growth opportunities elsewhere in Africa. read more

Johannesburg - The South African Competition Appeal Court has approved DuPont’s bid to buy control of domestic seed company Pannar Seed, the two companies said on Monday, giving the US chemicals company a toehold in Africa’s agricultural sector. read more

Johannesburg - Illovo Sugar [JSE:ILV] posted a 12% rise in first-half earnings on Wednesday helped by currency weakness and cost cutting, but said output was still struggling to recover from a 2010 drought in KwaZulu-Natal.  read more

Global brewing giant SABMiller plc (SAB) has reported a 12% rise in adjusted earnings per share to 214.8 cents US for the year ended March 2012 from 191.5 cents a year ago, with strong results in developing markets.  read more

South African companies are still very much in the race into the rest of Africa, but could lose out to international competitors if they do not position themselves for the opportunities on the continent. read more

MasterCard on Thursday announced a new structure for its Middle East and Africa business, spurred by continuous economic development, steady population growth, a stable outlook and a large pool of young consumers entering the workplace each year. read more

SABMiller plans to invest up to $2,5bn in Africa over the next five years to build and refurbish breweries, its head for the region said yesterday, as it looks to slake rising demand for beer on the fast-growing continent. read more

For global retailers looking to secure long term growth and diversify their source of income, setting up an African strategy is key.  read more

South African companies have been slow to take the first mover advantage to invest in sub-Saharan Africa, but they can still play catch up and compete with global investors already in the region, UK-based Insparo Asset Management said on Friday. read more

Johannesburg - The merger conditions for Massmart Holdings [JSE:MSM] and international retail giant Walmart International (Walmart) could cost the retail groups more than they currently anticipate. Moreover, they have to wait a couple of months for final approval of the conditions of the transaction. read more

SA’s biggest clothing retailer, Edcon, will accelerate space growth this year, chief financial officer Steve Binnie said yesterday, ending a conservative two or three years for the retailer. read more

Improvements in agriculture remained slow in Sub Saharan Africa, said Microsoft founder Bill Gates in a speech at the International Fund for Agricultural Development’s 35th governing council in Rome, Italy on Thursday.  read more

Johannesburg - Steinhoff International Holdings [JSE:SHF], Africa’s biggest furniture maker, aims to increase its stake in JD Group [JSE:JDG] through a share swap deal to gain control of the South African retailer.  read more

African economies are set to continue growing faster than many developed economies, while shifting trade patterns towards China and India will continue to gain momentum in 2012. read more

New research reveals that Africa will face significantly lower crop yields in the next 10 years as a result of increasing temperatures, threatening the food security of millions.  read more

Retailer Pick n Pay has announced the opening of its third Zambian store in Lusaka, further signalling the group's confidence in the Zambian economy.  read more

If climate change is left unchecked, then it will hamper Africa's economic growth and development, says Sim Tshabalala, Chief Executive of Standard Bank SA.  read more

Following strong growth in Africa and Latin America, SABMiller will invest more than $500m to build capacity in these subsidiaries, it has said after releasing its results for the six months ended September. read more

Africa now the second-largest mobile market by connections after Asia, and the fastest-growing mobile market in the world according to new research read more

In line with its aggressive African expansion plans, retailer Pick n Pay (PIK) on Friday announced the opening of its second Mauritian store at Cascavelle in Mauritius. read more

Africa makes up 21 % of the World’s population, but contributes less than 4% to formal grocery sales globally. However, this is set to change as South African retailers gear up for growth in the rest of the continent.  read more

Johannesburg - The Spar Group is considering further business opportunities elsewhere in Africa, Business Report reported on Wednesday. read more

NAIROBI (Reuters) - Nestle Kenya, a unit of the world's biggest food group plans to add three new factories over the next two years in the Africa region, sourcing input materials locally, its head said on Thursday. read more

Johannesburg – Pick n Pay Stores [JSE:PIK] is looking increasingly to southern Africa for growth, signalled by the opening of its first store in Zambia on Thursday. read more