‘America is ready to invest in Africa’; but what US Companies are Investing in Africa instead of USA?
|ASA Gold and Precious Metals Limited was founded as a South African corporation in 1958 (Its original name was American-South African Investment Company, Limited). The Company was the idea of Charles Engelhard,Chairman of Engelhard Industries Inc., which at the time, maintained extensive business interests in the United States and South Africa. The Company was organized to provide primarily Americans a medium to invest in the common shares of companies engaged in the business of mining gold in South Africa. At the time, Americans were prohibited from owning gold bullion and South Africa was the producer of 80 percent of the world’s gold. Unlike today, it was difficult for the average investor to purchase shares traded in Johannesburg. At that time there were approximately 25 South African gold mining companies.|
Procter & Gamble (PG:US)
Africa-focused airline FastJet has raised US$2.4 mln to help establish its hub network across the continent.
Africa-focused airline FastJet (LON:FJET) has raised US$2.4 mln to help establish its hub network across the continent. FastJet’s first flight with its new Airbus 319 is scheduled to take off from Dar es Salem in Tanzania this month. Last week, the company recently unveiled its new branding alongside the launch of the Tanzania operation, which has now has three A319 aircraft. David Lenigas, the company’s executive chairman, said it is now progressing with establishing the second hub location. “These additional will be deployed in assessing an earlier than expect open to FastJet to interact with the Southern African market place and progressing with the opening of further operational hubs for the FastJet network across Africa.” Passenger statistics for Fly540 for October showed a 27% increase in the number carried compared to a year ago at 51,015.The load factor fell to 56.4%. On a rolling 12-month bases the total number of passengers rose by 61.5% to 638,654. The Fly540 Tanzania operation ceased on October 12 in preparation for the launch of FastJet. This reduced the Fly540 seats available by about 10,000 per month. MORE