SA Company

France's Lactalis gets go-ahead to reopen plant after tainted milk scandal

18/09 French authorities have given dairy giant Lactalis permission to resume selling baby milk from a factory that was closed after salmonella-contaminated milk produced there infected dozens of babies, the government said on Tuesday.. . .  Full story

South African fintech JUMO to expand in Asia with Goldman Sachs backing

18/09 South Africa-based financial technology firm JUMO plans to expand in high-growth Asian markets after securing the backing of Goldman Sachs in an equity funding round, the company's chief executive said.. . .  Full story

Uganda to renew operating licence of local unit of MTN Group

18/09 Uganda has agreed to renew the operating licence of the local unit of South African telecom company MTN Group, the state-run Uganda Media Centre said on Twitter on Tuesday.. . .  Full story

South Africa's rand firms on dollar tariff slip, stocks down

17/09 South Africa's rand firmed on Monday, as a dollar rally fuelled by signs of higher lending rates in the United States was undermined by the latest salvo in a tit-for-tat trade battle between Beijing. . .  Full story

South Africa's Naspers plans to spin off, list pay-TV unit

17/09 South African media and e-commerce giant Naspers plans to spin-off and separately list its pay-TV unit, it said on Monday.. . .  Full story

South African unions sign wage deal with AngloGold Ashanti

17/09 Three South African unions have signed a three-year wage deal with AngloGold Ashanti , potentially inching the country's gold industry a closer to ending a standoff over pay.. . .  Full story

South African Markets - Factors to watch on Sept 17

17/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

Nigeria fraud agency tries to arrest Standard Chartered exec - sources

14/09 Officers from Nigeria's financial crime agency attempted to arrest an executive at Standard Chartered's building in Lagos on Friday but left after the executive barricaded herself in an office, sources said.. . .  Full story

South African rand enjoys strong week as Moody's turns more upbeat

14/09 The rand was on course for gains of more than 2 percent against the dollar this week, despite some profit-taking on Friday, after Moody's signalled it was unlikely to strip South Africa of its. . .  Full story

Thousands flock to Africa's first Comic Con

14/09 From the mother of dragons in "Game of Thrones" to Captain America from the "The Avengers", thousands of comic book and science fiction fans went head-to-head for the best costume at the first Comic. . .  Full story

South African Markets - Factors to watch on Sept. 14

14/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

South Africa's rand shines after Turkish rate hike, Moody's comments

13/09 South Africa's rand raced to its highest in more than a week on Thursday, erasing all of the losses suffered after the economy slipped into recession, as a rate hike in Turkey and Moody's. . .  Full story

Shares in South Africa's Aspen slump on sale of infant formula business

13/09 ** Shares in African drug maker Aspen Pharmacare slumped 10.71 percent to 243.32 rand ($16) after it announced the sale of its infant formula business. ** The company sold the business to French dairy group. . .  Full story

South Africa's Aspen to sell infant formula unit to Lactalis for $864 mln

13/09 Aspen Pharmacare is selling its global infant formula business to French dairy group Lactalis for 12.9 billion rand ($864.5 million), the African drugmaker said in a results statement on Thursday.. . .  Full story

South African Markets - Factors to watch on Sept. 13

13/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.. . .  Full story

African Markets - Factors to watch on Sept. 13

13/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: *Kenya's finance minister. . .  Full story

MTN says $10.1 bln Nigeria demand makes local listing challenging

12/09 A $10.1 billion demand by Nigerian authorities from South African telecoms group MTN makes its planned debut stock market listing in the country "pretty challenging and awkward", the group's chief financial officer said on Wednesday.. . .  Full story

MTN says $10.1 bln Nigeria demand makes local listing challenging - CFO

12/09 A $10.1 billion demand by Nigerian authorities from South African telecoms group MTN makes its planned debut stock market listing in the country "pretty challenging and awkward", the group's chief financial officer said on Wednesday.. . .  Full story

South Africa's rand firmer on positive retail data; stocks fall

12/09 South Africa's rand firmed in late afternoon deals on Wednesday as stronger retail sales data dimmed the spotlight on economic growth concerns, while stocks followed global equities down.. . .  Full story

South Africa's Clover triples FY profit, impairment hurts shares

12/09 Clover Industries' normalised annual profit more than tripled, the South African dairy company said on Wednesday, boosted by its exit from the milk business and a recovery from drought the previous year.. . .  Full story

South Africa's retail sales up 1.3 percent year/year in July

12/09 South Africa's retail sales rose in July as furniture and clothing sales grew, data showed on Wednesday, as retailers battle to lift earnings amid poor economic growth that has sent the economy into its. . .  Full story

Many parts of the world not ready for super fast 5G network - MTN's CEO

12/09 Many parts of the world are not ready for next-generation 5G network but would likely be ready to embrace the super-fast technology in the next few years from now, MTN's chief executive of said. . .  Full story

South Africa's iron ore railway to be shut down for annual maintenance

12/09 The main railway line along South Africa's iron ore corridor will be shut down for annual maintenance from 26 September to 2 October, state-owned freight logistics firm Transnet said on Wednesday.. . .  Full story

South Africa's Clover Foods full-year profit soars

12/09 South African dairy company Clover Industries reported a 228 percent surge in full-year profit, boosted by its exit from its drinking milk business and a turnaround from a drought-stricken prior year.. . .  Full story

South African Markets - Factors to watch on Sept. 12

12/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

African Markets - Factors to watch on Sept 12

12/09 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.. . .  Full story

MTN says Nigeria's attorney general exceeded powers in $2 bln tax bill

11/09 Nigeria's attorney general exceeded his powers in demanding $2 billion in taxes and charges from MTN Group, Africa's biggest telecoms firm said in papers filed with Nigeria's High Court and reviewed by Reuters.. . .  Full story

Manufacturing data lifts S.Africa rand, stocks track metal prices lower

11/09 South Africa's rand firmed on Tuesday as emerging market currencies broadly staged a rally against the dollar following a deep selloff, with investors seeing an opportunity to buy the currency cheap.. . .  Full story

South Africa's Aspen mulls sale of infant formula unit

11/09 South African drug maker Aspen Pharmacare said on Tuesday it was in discussions to sell its global infant formula business, but did not give any further details.. . .  Full story

South Africa's telecoms watchdog mulls regulating internet data prices

11/09 South Africa is considering regulating the price of internet data, the chief executive of the telecoms watchdog said on Tuesday, as part of efforts to bring costs down and shore up the ailing economy.. . .  Full story

MTN says Nigeria's attorney general execeeded powers in $2 bln tax bill

11/09 MTN Group said Nigeria's attorney general exceeded his powers in demanding the payment of $2 billion in taxes and charges, state court papers reviewed by Reuters on Tuesday showed.. . .  Full story

MTN CEO confident about Nigeria dispute as firm applies for injunction

10/09 South African telecoms firm MTN Group said on Monday it was confident a multibillion-dollar dispute with the Nigerian government would be resolved even as it applied for a court injunction to protect its Nigerian assets.. . .  Full story

South Africa ready to intervene in MTN-Nigeria disput -minister

10/09 The South African government is ready to intervene in a dispute between telecoms company MTN Group and the Nigerian government, if MTN asks for help, South Africa's Telecommunications Minister Siyabonga Cwele told Reuters.. . .  Full story

South Africa's rand recovering, stocks falter on local economic pressure

10/09 South Africa's rand stretched its recovery to a third straight session on Monday, climbing further off two-year lows hit last week as investors saw an opportunity to buy the currency cheaply while the dollar's rally. . .  Full story

MTN seeks court order to protect Nigeria assets over dispute

10/09 MTN Group said on Monday it has applied to Nigeria's High Court to restrain the country's Central Bank and the Attorney General from taking further action over its assets in the wake of a multibillion-dollar. . .  Full story

MTN CEO Shuter says confident Nigeria dispute will be resolved

10/09 The chief executive of South African telecoms firm MTN Group, Rob Shuter, said on Monday that he was confident that his firm would be able to resolve a multibillion-dollar dispute with Nigeria's government.. . .  Full story

South African Markets - Factors to watch on Sept 10

10/09 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

South Africa's rand firms as risk sentiment revives, stocks down

07/09 The rand firmed on Friday as data showed South Africa's current account deficit narrowed, boosting investor sentiment towards the currency amid a broader recovery in emerging markets.. . .  Full story

South Africa's Nedbank warns land expropriation could spark banking crisis

07/09 South Africa's plans to change the constitution to allow the expropriation of land without compensation could hit property prices and trigger a banking crisis, the chief executive of Nedbank told parliament on Friday.. . .  Full story

African Markets - Factors to watch on Sept 7

07/09 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.. . .  Full story

Rand firms after South African current account narrows sharply

06/09 The South African rand firmed on Thursday after data showed the country's current account deficit was narrowing more than expected and as other emerging market currencies picked up.. . .  Full story

Nigeria central bank debits StanChart, Citi over MTN funds -sources

06/09 Nigeria's central bank has debited 2.4 billion naira ($7.9 million) in fines from Standard Chartered and 1.2 billion naira from Citigroup for allegedly helping South African telecoms firm MTN move funds abroad.. . .  Full story

Nigeria central bank debits Standard Chartered $7.9 mln after moving MTN funds -sources

06/09 Nigeria's central bank has debited Standard Chartered 2.4 billion naira ($7.86 million) after it fined the lender for helping South Africa's telecoms firm MTN to move funds abroad, two sources told Reuters on Thursday.. . .  Full story

MTN faces possible Moody's downgrade after Nigeria's cash demands

06/09 MTN Group was under review by Moody's for a possible credit rating downgrade after the South African mobile phone operator said it was being asked to pay a total of $10.1 billion by authorities. . .  Full story

Moody's places South Africa's MTN on review for downgrade

06/09 MTN Group has been put on review by Moody's for downgrade after the South African mobile phone operator said it was on the hook for a total of $10.1 billion from its biggest market. . .  Full story

South Africa's FirstRand FY profit up 12 pct, beats forecasts

06/09 South Africa's largest lender FirstRand beat estimates with a 12 percent rise in annual profit on Thursday, helped by income and deposit fees.. . .  Full story

South African miner Assore reports profit fall on stronger rand

06/09 South African minerals and metals producer Assore reported a 1.9 percent fall in annual profit on Thursday as a strong rand currency offset favourable commodity prices and higher sales.. . .  Full story

African Markets - Factors to watch on Sept 6

06/09 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.. . .  Full story

White unionised workers protest at Sasol plant over black share scheme

05/09 Hundreds of workers from South Africa's mainly white Solidarity union staged a brief protest outside Sasol's chemicals plant in Sasolburg on Wednesday over a share scheme offered exclusively to black staff.. . .  Full story

MTN's Ghana unit up 4 pct on stock market debut -traders

05/09 The price of shares in MTN's Ghana unit rose 4 percent to 0.78 cedis on its stock market debut on the Ghana bourse on Wednesday, traders and exchange managers said.. . .  Full story

South African rand plunges on recession shock, stocks falter

04/09 South Africa's rand fell as much as three percent on Tuesday as the economy slipped into a technical recession in the second quarter and missed economists' expectations.. . .  Full story

Nigeria raises heat on South Africa's MTN with $2 bln tax bill

04/09 Nigeria landed MTN Group with a $2 billion tax bill on Tuesday, marking the South African mobile phone company's latest skirmish with authorities in its most lucrative market.. . .  Full story

S.Africa's Discovery strikes FirstRand deal to pay way for bank

04/09 Discovery Ltd has agreed to buy banking group FirstRand's 25.01 percent stake in a financial joint venture for $120 million, paving the way for the South African insurer to launch its own bank later this. . .  Full story

Nigeria says whistleblower triggered MTN $8.1 bln probe -official

04/09 The office of Nigeria's attorney general said on Tuesday that a whistleblower prompted an investigation into alleged MTN infractions that last week led to a demand for $8.1 billion taken out of Nigeria to. . .  Full story

Australia helps Wilson Bayly Holmes overcome S.Africa weakness

04/09 South Africa's Wilson Bayly Holmes (WBHO) reported a 14 percent jump in full-year profit on Tuesday, as a favourable market in Australia and growth in its roads and works division offset a fall in. . .  Full story

South African insurer Discovery lifts FY profit by 16 pct

04/09 South African health and life insurance group Discovery Ltd reported a 16 percent increase in full-year earnings on Tuesday, supported by growth in all its businesses.. . .  Full story

South Africa's Wilson Bayly Holmes reports 14 pct rise in annual profit

04/09 South Africa's Wilson Bayly Holmes (WBHO) reported a 14 percent jump in full-year profit on Tuesday, buoyed by a favourable market in Australia and the United Kingdom as well as growth in its roads. . .  Full story

South African Markets - Factors to watch on Sept 4

04/09 The following company announcements, scheduled economic indicators, debt and currency market moves may affect South African markets on Tuesday.. . .  Full story

White S.African workers protest against Sasol's black share scheme

03/09 Workers from South Africa's mainly-white Solidarity union staged a go-slow protest at the petrochemicals firm Sasol on Monday over a share scheme offered exclusively to black staff, and said they would begin a full strike. . .  Full story

Lonmin's largest shareholder backs takeover by Sibanye-Stillwater

03/09 South Africa's Public Investment Corporation (PIC) said it will support a takeover of platinum producer Lonmin by precious metals producer Sibanye-Stillwater.. . .  Full story

South Africa's Sun International close to exiting Nigeria

03/09 South Africa's Sun International expects an investigation into a shareholder dispute at its Nigerian operation to be completed shortly, paving the way for the casino and hotel operator to finally exit that market, it said. . .  Full story

India's Anil Agarwal succeeds with Vedanta Resources buyout

03/09 Vedanta Resources' Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Monday, a step seen by some in the industry as a prelude to a potentially. . .  Full story

White workers at Sasol launch 'go-slow' ahead of Thursday strike over black staff scheme

03/09 Workers from South Africa's mainly white Solidarity union started a go-slow protest at petrochemicals firm Sasol over a share scheme offered exclusively to black staff, and will launch a full strike on Thursday.. . .  Full story

South Africa's Sun International H1 earnings fall 46 pct on one-off costs

03/09 South Africa's Sun International on Monday reported a 46 percent fall in half-year earnings hurt by subdued growth locally and in Chile as well as one-off costs.. . .  Full story

South Africa's Bidvest reports 12.5 pct rise in annual profit

03/09 South African trading, distribution and services firm Bidvest Group reported a 12.5 percent rise in annual earnings on Monday supported by cost-saving measures.. . .  Full story

African Markets - Factors to watch on Sept 3

03/09 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.. . .  Full story

White workers at South Africa's Sasol to strike over black share scheme

02/09 South Africa's mainly white Solidarity union will begin a strike on Monday at petrochemicals firm Sasol over a share ownership scheme offered exclusively to black staff.. . .  Full story

South African union to begin strike by white workers at Sasol

02/09 South Africa's mainly white Solidarity union will begin a strike on Monday at petrochemicals firm Sasol over a share ownership scheme offered exclusively for black staff.. . .  Full story

Nigeria's $8.1bn demand cast doubts over MTN's Nigeria IPO plans - sources

01/09 MTN Group's plan to list its Nigerian unit in an initial public offering this year is under threat after the central bank ordered the South African telecoms giant to hand over $8.1 billion allegedly. . .  Full story

Zimplats FY profit tumbles after higher deferred tax charge

31/08 Zimbabwe's largest platinum miner Zimplats on Friday reported a 94 percent drop in after-tax profit to $2.6 million after incurring a higher deferred tax charge.. . .  Full story

Nigeria stuns MTN with $8.1 billion demand, shares plunge

30/08 MTN Group shares plunged as much as 25 percent to a nine year low on Thursday, a day after Nigeria ordered the telecoms group's Lagos-based business to hand over $8.1 billion that the authorities. . .  Full story

South Africa's rand hits one-week low on EM woes; stocks dip on MTN

30/08 South Africa's rand tumbled to its weakest in more than a week on Thursday as financial crises in Turkey and Argentina rattled sentiment toward emerging markets and stoked another wave of selling on the. . .  Full story

Stable policies could add $8 billion capex to South African mines sector

30/08 Policy and regulatory certainty in South Africa could potentially add 122 billion rand ($8 billion) in capital expenditure to the struggling mining sector over the next four years, the Minerals Council's chief executive said on. . .  Full story

TFG to open retail brand in Australia, test appetite outside Africa

30/08 South African clothing and homeware retailer The Foschini Group (TFG) said on Thursday it was launching one of its African retail brands in Australia to test appetite outside its traditional market.. . .  Full story

MTN Ghana raises $238.5 million in IPO, misses target

30/08 MTN Group said on Thursday its Ghana unit raised 1.14 billion cedis ($238.5 million) in the largest initial public offering in the West African country, but failed to reach its target.. . .  Full story

AngloGold's Guinea mine resumes operations after one-day strike

30/08 Operations have resumed at AngloGold Ashanti's Siguiri gold mine in Guinea after a workers strike halted activities for a day, a company vice president said on Thursday.. . .  Full story

MTN plunges as Nigeria orders $8.1 bln be refunded

30/08 Shares in MTN Group plunged as much as 19 percent early on Thursday, a day after Nigeria ordered the South African telecoms group and its bankers to return $8.1 billion.. . .  Full story

South African Markets - Factors to watch on Aug 30

30/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.. . .  Full story

Nigeria central bank orders MTN, banks to bring back $8.1 bln sent abroad

29/08 Nigeria's central bank said on Wednesday it had ordered South African telecoms firm MTN and four banks to bring $8.134 billion back into the country that MTN had illegally sent abroad in breach of. . .  Full story

Worker strike halts operations at AngloGold's Guinea mine

29/08 A strike at AngloGold Ashanti's Siguiri gold mine in Guinea has halted operations there, mines ministry secretary-general Saadou Nimaga said on Wednesday.. . .  Full story

South African unions declare dispute over wage talks with gold firms

29/08 Three South African unions said on Wednesday that wage negotiations in the gold sector had hit a deadlock and they had declared a dispute, a move that is one step short of a strike.. . .  Full story

South African police evacuate mall over bomb threat

29/08 Shoppers were evacuated from the Mall of Africa, one of South Africa's largest shopping complexes, on Wednesday as police searched for a bomb after receiving a threat, police said.. . .  Full story

South Africa launches electronic trading platform for government bonds

29/08 The Johannesburg Stock Exchange (JSE) and the London Stock Exchange launched the country's first electronic government bond trading platform, offering an alternative to traditional fixed-income trading via telephone or chat services.. . .  Full story

South Africa's Adcock calls for medicine price hike as weaker rand bites

29/08 Drugmaker Adcock Ingram is lobbying South Africa's health authorities to increase the cap on price-regulated prescription medicine by 1.7 percent as the company grapples with a weaker rand, its CEO said.. . .  Full story

South African drugmaker Adcock Ingram FY profit up 26 percent

29/08 South African drugmaker Adcock Ingram on Tuesday posted a 25.5 percent increase in full-year profit as margins were boosted by higher demand for antiretroviral drugs used to treat HIV.. . .  Full story

South African Markets - Factors to watch on Aug 29

29/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

Revised business model spurs profits at South Africa's RCL Foods

28/08 South African poultry producer RCL Foods' reported a 50 percent jump in full-year profits on Tuesday, saying the restructure of its chicken business and growth in its grocery unit helped it improve its performance.. . .  Full story

Distribution and Warehousing Network to cut 700 jobs, finance chief leaves

28/08 South Africa's Distribution and Warehousing Network Ltd (DAWN) said it would cut 700 jobs and its finance chief Chris Booyens would retire under a restructuring plan, as it battles to cut costs.. . .  Full story

South Africa's rand steadies after volatile trade; stocks rise

28/08 South Africa's rand held steady against a weaker dollar on Tuesday as investor optimism that a U.S.-Mexico deal will help avert a global trade war boosted appetite for riskier assets.. . .  Full story

South Africa's Solidarity union to strike at Sasol over black staff scheme

28/08 South Africa's mainly white Solidarity union said on Tuesday it had threatened Sasol with a strike over a share ownership scheme offered exclusively for black staff unless its workers were also included or received a. . .  Full story

Distribution and Warehousing Network to cut 700 jobs, finance chief retires

28/08 South Africa's Distribution and Warehousing Network Ltd said it would cut 700 jobs as part of a restructuring plan and its finance chief Chris Booyens will retire by the end of the month.. . .  Full story

South Africa Cashbuild annual profit down 9 pct, shares fall

28/08 South African building materials retailer Cashbuild reported a 9 percent decline in annual profit on Tuesday due to higher costs and weak consumer demand, sending its shares tumbling more than 4 percent.. . .  Full story

South Africa's rand firmer on dollar retreat; stocks up

27/08 South Africa's rand rand firmed by one percent against to the dollar after the greenback weakened for a second straight session, while stocks firmed across the board tracking the stronger rand.. . .  Full story

South Africa connection charges could trigger job cuts -Telkom CEO

27/08 South Africa's plan to slash the fees mobile firms charge each other to terminate calls on their networks proposed by the regulator could hurt revenue and lead to job cuts, the fixed line and. . .  Full story

South Africa's Vodacom launches 5G internet service in Lesotho

25/08 South Africa's Vodacom launched what it said was Africa’s first commercial 5G internet service in Lesotho on Saturday, but said it would only be able to provide a similar service in its home market. . .  Full story

South Africa's rand recovers as dollar weakens; stocks up

24/08 South Africa's rand firmed on Friday as the dollar fell, regaining poise after a sharp dip in the previous session after U.S. President Donald Trump's tweet about land reform in Africa's most industrialised economy.. . .  Full story

South Africa's rand slips after Trump land reform tweet, stocks up

23/08 South Africa's rand fell against the dollar on Thursday, hurt by comments by U.S. President Donald Trump on Pretoria's land reform plans and a stronger greenback, while stocks ended slightly higher.. . .  Full story

S.Africa's Massmart HY profit muted by weak consumer spending

23/08 South African retailer Massmart Holdings reported a drop in half-year profits on Thursday as cash-strapped consumers prioritised food over higher-margin discretionary goods such as electronics.. . .  Full story

South Africa's Woolworths FY profit down 17.7 pct, misses estimates

23/08 South African retailer Woolworths reported a worse-than-expected 17.7 percent drop in annual earnings on Thursday, hit by restructuring costs at its Australian unit and poor performance in its clothing business at home.. . .  Full story

South African Markets - Factors to watch on August 23

23/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.. . .  Full story

South Africa's African Rainbow Minerals sees 2018 profit jump

22/08 South Africa's African Rainbow Minerals (ARM) said on Wednesday that it expected its full year profit to rise by up to 54 percent, buoyed by stronger commodity prices and gains from a debt restructuring.. . .  Full story