Mauritius, one of Africa’s most open economies, is suffering from Europe’s woes. But rather than attempting to isolate the country, its finance minister is trying to diversify its export markets and develop new industries.
Latest articles from Paul Wallace
Are South African banks still a safe bet?
November 1, 2012South Africa’s banks are among the world’s best regulated, and though a sluggish economy is straining revenue growth, expansion in to the rest of Africa and a rapid increase in unsecured lending are providing some respite.
South Africa’s capital markets shows signs of strain
November 1, 2012South Africa’s capital markets have been resilient amid a surge of negative news emanating from the country following the killing of 34 miners in August. But many bankers say the situation could deteriorate quickly if economic growth does not pick up or if labour unrest is not calmed.
US municipal bond market resists the crunch
November 1, 2012Two years ago fears abounded that the US municipal bond market was on the brink of a surge of defaults. While those fears proved to be misplaced, local and state governments are still struggling amid a weak economy.
South Africa’s stuttering recovery
October 1, 2012In the past three years, South Africa’s economy has struggled. Its growth is slower than that of many other African countries, and the shooting of 34 miners in August exposed a simmering tension that exists within its boundaries. Yet while there is no quick fix, investors remain attracted by the strength of the country's institutions.
South Africa finance minister looks to move country forwards
October 1, 2012South Africa’s ruling African National Congress has come under increasing pressure in the wake of police shooting 34 striking miners in August. But finance minister Pravin Gordhan says his party’s record in government is impressive and that it has done much to develop the country since 1994.
On the road to self-sufficiency? The US's energy glut
September 3, 2012Thanks to shale drilling, the US is brimming with cheap gas and has turned itself into one of the world’s fastest-growing oil producers. Most analysts now expect it to be all but energy independent within 15 years, shattering mainstream assumptions from as recently as five years ago. The implications for global energy markets and geopolitics are profound.
Masterminding Côte d'Ivoire’s renaissance
September 3, 2012Much has improved in Côte d'Ivoire since president Alassane Ouattara came to power last year, ending months of post-election turmoil. Although some parts of the country remain volatile, most of it is peaceful. And the economy is expanding quickly. The president even thinks its will soon attain double-digit growth.
Mozambique oils the wheels of economic growth
September 3, 2012While the recent discovery of natural gas will certainly boost Mozambique's economy, the country's president, Armando Guebuza, recognises that it will not be enough to pull the country out of poverty and end its reliance on aid. To achieve this, it will be necessary to promote growth in other areas, such as agriculture and tourism, in order to create a more diverse and sustainable economy.
Gas find helps Tanzania step out of the shadows
August 1, 2012Tanzania's recent discovery of huge natural gas fields has put it firmly in the sight of foreign investors. But Benno Ndulu, its central bank governor, warns that the east African country should not become reliant on hydrocarbons. Instead, it should use them to diversify its economy.