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Embraer Forecasts Demand For 240 New Jets In Africa

Embraer Commercial Aviation released, during the Marrakech Air Show, in Morocco, its market outlook for Africa, which forecasts that the region will take delivery of 240 new jets in the 70 to 130-seat segment over the next 20 years. The 70 to 130-seat jet fleet in service is estimated to grow from the current 120 units to 260 by 2034.
“Africans are turning progressively to air travel. As in Asia, economic expansion, a growing urban middle class, continued market liberalisation and regional integration will be the main drivers of air transport demand,” explains Simon Newitt, Vice President, Latin America, Africa & Portugal, Embraer Commercial Aviation.
“With right-sized aircraft, such as the E-Jets family, African carriers would be able to offer a better combination of capacity and frequency in core as well as low to mid-density markets.”
According to the Embraer study, there are still ample connectivity opportunities within the African region although traffic remains concentrated in the largest cities. Of more than 300 of the region’s airports operating in 2015, only eight connected 25 or more cities while 240 airports linked five or less cities.

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How 27 Global Banks Rate South Africa’s Economic Growth Prospects For 2016

Consensus among 27 global banks and financial analysis groups shows that South Africa’s economy is expected to grow by 0.7 percent in 2016, according to a new economic report by Focus Economics, BusinessTech reported.

Things will be a bit better in 2017, with the economy expected to grow about 1.4 percent.

Focus Economics provides economic analysis and forecasts for 127 countries in Africa, Asia, Europe and the Americas, as well as price forecasts for 33 commodities. The company is supported by a global network of analysts.

New York City-based investment banking firm Goldman Sachs is the bank most optimistic about South Africa, predicting a growth rate of 1.5 percent.

Colin Coleman, international managing director for Goldman Sachs, said the securities management firm is bullish on South Africa because of the relative lack of competition from other emerging markets and the depth of its capital market. It’s a favorable destination for fund managers, Coleman said, according to an April 2015 MiningWeekly report.

Despite South Africa’s self-inflicted local problems, Coleman said the country has the region’s deepest capital markets (measured as market capitalization of the Johannesburg Stock Exchange divided by gross domestic product.)

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Moody’s Downgrades Four African Economies on Oil Concerns

Global credit rating agency Moody’s downgraded Africa’s two largest oil producers, Nigeria and Angola, as it cut ratings on four African economies over the impact of lower oil prices on the international market.
According to a Bloomberg report, Moody’s said it was concerned over the impact depressed oil prices have on the liquidity, balance sheet and credit worthiness of Nigeria, Angola, Gabon and the Democratic republic of Congo (DRC).
Nigeria and Gabon were cut to B1 from Ba3 as “the prospect of lower-for-longer oil prices” raises liquidity risks and external vulnerability, according to statements released by the ratings firm on Friday.
Angola was lowered to B1 and the Democratic Republic of the Congo to B2 from B1 on similar concerns about the countries’ high dependence on oil, constraining their financing options.
Nigeria was however issued a stable outlook on confidence in the country’s credit fundamentals when compared to its peers.
“The stable outlook is driven by Moody’s view that the downside risks posed by the weakening of the country’s fiscal strength, and the external and economic pressures anticipated this year and next, are balanced by Nigeria’s strengths, which exceed those of sovereigns rated below B1,” Moddy’s wrote.

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10 000 African millionaires could head to SA

Cape Town – Over 10 000 millionaires from the rest of Africa are expected to move to South Africa over the next decade, according to a report by New World Wealth, which provides information on the global wealth sector, especially high growth markets.

According to the report, these millionaires – having a net worth of about R14.5m or more – from the rest of Africa would then significantly boost millionaire numbers and luxury spending in SA.

By June last year, it was estimated that there were about 163 000 dollar millionaires living in Africa with a combined wealth of $670bn.

Research by New World Wealth found that over 1 500 millionaires from the rest of Africa have moved to SA since 2007. Most of them came from Nigeria, Angola and Ghana. Many millionaires from the rest of Africa have also bought second residences in SA, which they use for business and holiday purposes.

These millionaires are attracted to SA by good private schools for their children, luxury residential estates, good private healthcare, exclusive shopping centres and good transport infrastructure. They also like that SA is an English-speaking country and that there is very little religious violence.

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