South Africa is looking for a post-Brexit deal with the UK
News and economyAnd in corporate news: big buy-outsSouth Africa sees opportunities to sell more of its agricultural produce, particularly wine and fruit, to the U.K. under a post-Brexit trade agreement. Meanwhile political tensions continue to raise red flags for credit rating agencies.IMF estimates Angola’s debt-to-GDP ratio will reduce to 62.8% this year down from 72.1% in 2016. Meanwhile the country is taking up a loan of as much as $600 million from China’s Export-Import Bank for the construction of a deep-sea port in the northern enclave of Cabinda. The fund is also seeking to boost its internal capacity to manage its assets instead of depending on external managers as the fund endeavors to become a more active investor.Egypt wants to lure investors to mine gold but the terms they’re offering are not very attractive.General Electric has made a proposal to rehabilitate Nigeria’s run-down refineries.The DRC is struggling to keep its currency afloat. The Congolese franc lost about 40% of its value in 2016.And as expected Nigeria and South Africa’s central banks held interest rates steady.Corporate newsGlobal Private Equity giant Carlyle has bought Africa’s largest credit rating agency Global Credit Ratings (GCR) which operates in 20 African states and has about 400 clients. The move is seen as capitalizing on the increasing need for investors to evaluate local counter-parties.South Africa’s Bidvest Group is looking at making acquisitions and potentially expanding into the UK. The firm could seek as much as $1 billion to finance new acquisitions.Kumba Iron Ore more than doubled profits last year. Anglo American which holds a 70% stake in Kumba is looking to sell.South Africa is looking for a post-Brexit deal with the UK was originally published in Business in Africa on Medium, where people are continuing the conversation by highlighting and responding to this story.