Africa gateway

South Africa once attracted economic migrants from across the continent. The tables are now turning. Growth in South Africa is 2.5 per cent, half that in sub-Saharan Africa and South African companies are now crossing borders to cash in on this growth, according to a Special Report from the FT

After a long, and at times bitter process, Walmart’s $2.4bn acquisition of South African retailer Massmart appears to be in the clear.

On Friday, a South African court dismissed appeals from three government departments and unions to have the deal – which will see the US giant take a 51 per cent stake in Massmart – re-examined. The one victory for those who instigated the court action was the ruling that 500 workers cut from Massmart just before the merger be rehired.