The rules and conditions regulating capital flow continue […]
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Germany invests R3.4 billion in South Africa On Monday the 29th of April, the German Foreign Minister Guido Westerwelle announced that Germany will invest approximately R3.4 billion to South Africa for the period 2012-2013. This announcement was made during the meeting with his South African counterpart Maite Nkoana-Mashabane. The discussion with the International Relations and Cooperation Minister was mostly about bilateral, regional and international issues of common interest between the two countries and the previous and upcoming investments.
Turmoils put further pressure on the rand Recently published economic data from the US came as a positive surprise. Besides, the Euro is currently bobbing up and down without escalating. Based on these facts, investors have been taking more risks over the last days. Thus, especially currencies from emerging countries like the Mexican Peso or the Hungarian Forint were able to increase in value against the US-Dollar
This week the South Africa’s National Planning Commission (NPC) presented the National Development Plan to President Jacob Zuma. During the handover National Planning Minister Trevor Manuel warned Parliament to speed up the pace of change in South Africa.
The preferred bidders, which succeeded in the first round, were announced in December last year. Now the department aims to reach financial closure of all 28 approved projects, with a total project volume of 46 billion Rand, by the end of this month.