SA Company

New COVID strain hits revival of S.Africa's international tourist trade

09/12 Rushdi Harper's tour company in Cape Town was just starting to recover from a disastrous COVID-19 lockdown that had forced him to sell his house just to keep the business going.. . .  Full story

S.African retailer Mr Price to source more products locally

25/11 South African retailer Mr Price is looking to source 20 million more units of clothing and homeware locally in a shift away from constrained global supply chains, its CEO said after the company reported. . .  Full story

South African Markets - Factors to watch on Nov. 25

25/11 NNESBURG, Nov 25 - The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.. . .  Full story

S.Africa's Tiger Brands eyes deal to invest in nutrition business

19/11 South Africa's largest food producer Tiger Brands is close to clinching a deal with a business closely aligned with its health and nutrition strategy, as the company also warned on price increases.. . .  Full story

Sudanese judge urges end to post-coup internet blackout

11/11 A Sudanese judge on Thursday ordered telecoms companies in Khartoum to explain why internet services are still cut more than two weeks after a military takeover and two days after a court said connections. . .  Full story

South Africa's AngloGold targets output cost cuts

08/11 AngloGold Ashanti aims to bring down its gold mining costs to a level closer to its global rivals over the next two to three years, its new chief executive told Reuters on Monday.. . .  Full story

South Africa's Cell C ekes out profit with turnaround plan

27/10 South Africa's fourth-biggest mobile operator Cell C said it made a first-half profit of $10 million on Wednesday, recovering from a $513 million loss a year earlier, as a turnaround strategy bore fruit.. . .  Full story

African Markets - Factors to watch on October 14

14/10 Oct 14 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - -. . .  Full story

African Markets - Factors to watch on October 13

13/10 Oct 13 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - -. . .  Full story

Riots cost South Africa's SA Corporate Real Estate $38 mln

10/08 South Africa's SA Corporate Real Estate put an estimate of 558.243 million rand ($37.7 million) on Tuesday on the total cost of damage to its properties and loss of income after recent looting and vandalism.. . .  Full story

S.Africa's AngloGold shares slide as pandemic hits earnings

06/08 Shares in AngloGold Ashanti slumped more than 10% on Friday after it trimmed its 2021 production estimate and posted a 10% drop in headline first-half earnings due to the impact of the COVID-19 pandemic and. . .  Full story

South Africa property, retail firms bet on townships despite unrest

29/07 Recent unrest in South Africa damaged hundreds of businesses but property developers and retailers say they remain committed to the fast-growing consumer markets of its predominantly Black townships.. . .  Full story

S.Africa's Standard Bank to acquire rest of insurer Liberty Holdings for $590 mln

15/07 Lender Standard Bank is to take over insurer Liberty Holdings in full, the two South African companies said on Thursday, with current shareholders to receive cash and shares worth around 8.6 billion rand ($594.27 million). . .  Full story

Nigeria to freeze MultiChoice Africa accounts to recover $4.4 billion

08/07 Nigeria's revenue service said on Thursday it had instructed banks to freeze the accounts of media entertainment firm MultiChoice Africa and its Nigerian subsidiary for breaching agreements and denying access to their records for auditing.. . .  Full story

South Africa's Imperial Logistics up 34% on DP World takeover

08/07 Shares in South Africa's Imperial Logistics jumped almost 34% after Dubai's DP World said it would pay up to $887 million to acquire the company's outstanding shares.. . .  Full story

South African Markets - Factors to watch on June 17

17/06 following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.. . .  Full story

South Africa's TFG swings to full-year operating loss

10/06 South African fashion retailer TFG swung to an annual operating loss on Thursday, hurt by COVID-19 lockdowns across its markets and a non-cash impairment of 2.7 billion rand ($196.67 million) for its London business.. . .  Full story

South Africa's Tiger Brands to launch venture capital fund

20/05 South Africa's biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage start ups, with initial allocation of less than 100 million rand ($7.09 million), CEO Noel. . .  Full story

Activists and South African gov't lock horns over coal pollution

17/05 South Africa's failure to tackle toxic levels of air pollution produced by burning coal is a violation its post-Apartheid constitution, activists and a U.N. rights expert said in court on Monday.. . .  Full story

Activists and South African gov't face off in court over coal pollution

17/05 South Africa's failure to tackle toxic levels of air pollution produced by burning coal is a violation its post-Apartheid constitution, activists and a U.N. rights expert will say in court on Monday.. . .  Full story

European stocks steady after Tuesday's rout, Commerzbank shines

12/05 European stocks inched higher on Wednesday after their worst selloff this year as strong earnings reports and signs of a speedy economic recovery offset concerns about a rapid rise in prices.. . .  Full story

S.Africa's Nedbank aims zero exposure to fossil fuels by 2045

22/04 South Africa's Nedbank will stop funding new thermal coal mines by 2025 and halt direct funding of new oil and gas exploration as it plans to phase out fossil fuel exposure over the next. . .  Full story

Absa Bank Kenya 2020 pretax profit drops on rising impairments

23/03 Absa Bank Kenya on Tuesday reported a 47% drop in 2020 pretax profit reflecting higher impairments due to effects of the pandemic.. . .  Full story

S.African insurer Sanlam expects full-year profit to rise by up to 29%

04/03 South African insurer Sanlam Ltd said on Thursday its profit for the year ended Dec. 31 could rise by up to 29% as some accounting changes that impacted the results in 2019 were absent. . .  Full story

Tight supply and hydrogen hopes drive iridium up 160%

12/02 Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by. . .  Full story

South Africa's Aveng aims to raise $20 mln in rights issue

26/01 South African construction and resources company Aveng aims to raise 300 million rand ($20 million) through a fully co-underwritten rights offer to restructure its balance sheet and deleverage, the firm said on Tuesday.. . .  Full story

After pandemic, oil firms even less willing to cover $3.9 bln cost of S.Africa's clean fuel plan

22/01 After being hit by the pandemic, oil companies in South Africa are unlikely to upgrade refineries to cut sulphur emissions unless the government allows them to pass the costs on to consumers or offers. . .  Full story

Uganda orders internet blackout until further notice - MTN

13/01 Uganda's communications regulator ordered telecoms operators in the country to suspend all internet gateways from Wednesday evening until further notice, South African telecoms company MTN Group said.. . .  Full story

AngloGold Ashanti chair Pityana resigns, Maria Ramos to take over

08/12 AngloGold Ashanti's Chairman Sipho Pityana has resigned with immediate effect and will be replaced by independent non-executive director Maria Ramos, the gold miner said on Tuesday, without giving a reason for his departure.. . .  Full story

South Africa's Tiger Brands targeting cost savings of $32 mln

20/11 Tiger Brands, South Africa's biggest food producer, is targeting cost savings of 500 million rand ($32.50 million) in the 2021 financial year in a plan that includes cutting 400 jobs across the business, Chief Executive. . .  Full story

Life Healthcare Sees FY HEPS Between 46 To 51 Cents

10/11 Life Healthcare Group Holdings Ltd :. . .  Full story

S.Africa's Industrial Development Corp to diversify equities investment after sharp losses -CEO

26/10 South Africa's state-owned Industrial Development Corporation (IDC) said it would diversify its equity investments after reporting on Monday a sharp decline in the value of its top three holdings in listed companies.. . .  Full story

South Africa's Foschini expects to swing to half-year loss

23/10 South African retailer The Foschini Group warned on Friday it was likely to post a half-year loss due to the impact of the coronavirus, which forced store closures in its major markets.. . .  Full story

MTN withdraws Supreme Court challenges against Ghana market regulator

13/10 South African mobile operator MTN's Ghana unit said on Tuesday it was withdrawing a legal challenge it had filed to the Supreme Court over the market regulator's move to designate it a significant market power.. . .  Full story

Unilever South Africa to pull all TRESemmé products for 10 days over 'racist' ad

10/09 Unilever has agreed to pull all its TRESemmé haircare products from South African retail stores for 10 days as a show of remorse for a "racist" ad, the consumer group said in a joint. . .  Full story

South African franchise restaurant chain Spur to further defer interim dividend payment

03/09 South African franchise restaurant chain Spur Corporation said on Thursday it will further defer payment of its 2020 interim dividend in order to preserve cash during the COVID-19 pandemic.. . .  Full story

South African drugmaker Aspen expects 7-11% full-year earnings growth

27/08 South Africa's Aspen Pharmacare Holdings Ltd expects growth in its headline earnings per share (HEPS) from continuing operations of between 7-11% for the full year that ended June 30, the company said in a statement. . .  Full story

UK retailer New Look puts latest restructuring proposal to landlords

26/08 Struggling British fashion retailer New Look launched the latest stage of its restructuring process on Wednesday, seeking turnover-based leases from landlords at 402 UK stores to help to lower its costs and ensure its survival.. . .  Full story

S.Africa's Lewis reports FY profit drop but still declares dividend

25/08 South African furniture and appliance retailer Lewis Group Ltd reported a 30.8% drop in annual earnings on Tuesday, as the COVID-19 pandemic hit its last month of trading and it increased provision for unpaid customer. . .  Full story

Sun International sells Sun Dreams to partner, ending dispute

21/08 Chile's Nueva Inversiones Pacifico Sur Limitada has agreed to buy a 64.94% stake in casino operator Sun Dreams for $160 million from South African partner Sun International to take full ownership of the business and. . .  Full story

Shoprite lifted by sales jump and potential Nigeria exit

03/08 Shoprite Holdings could become the latest South African retailer to retreat from other African markets after it said on Monday that it is considering reducing or selling all of its stake in its Nigerian subsidiary.. . .  Full story

Anglogold Ashanti CEO to step down on Sept. 1

30/07 Gold miner AngloGold Ashanti's chief executive Kelvin Dushnisky will step down on Sept. 1, the company said on Thursday, without giving a reason for the change in leadership.. . .  Full story

Sasol expects delay in last unit in U.S. project to come onstream

23/07 South Africa's Sasol said on Thursday a unit damaged by fire at its Lake Charles Chemical Project (LCCP) should reach meaningful output by October, a month later than previous guidance.. . .  Full story

African Markets - Factors to watch on July 6

06/07 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS: * Seychelles to. . .  Full story

South Africa's unemployment rate hit record high before virus

23/06 South Africa's unemployment rate hit a record high in the first quarter of this year as key sectors including agriculture shed jobs, data showed on Tuesday, highlighting weakness in the economy even before it was. . .  Full story

Sasol flags full-year earnings drop of at least 20%

22/05 South African petrochemicals giant Sasol, which has been hit by high debt levels and falling oil and chemical prices, on Friday said it expected full-year headline earnings to decrease by at least 20%. . .  Full story

South African Markets - Factors to watch on May 19

19/05 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

Anglo American Platinum repairs unit at processing plant after blast

05/05 Anglo American Platinum (Amplats) said on Tuesday it had completed repairs to the Phase B unit at its Anglo Converter Plant and would lift the force majeure to suppliers of concentrate, three months after. . .  Full story

South Africa's PPC names CFO, domestic April sales volumes seen 95% lower

30/04 South African cement producer PPC said on Thursday it had appointed Ronel van Dijk permanent chief financial officer and warned overall South Africa sales volumes for April will be around 95% lower compared to the. . .  Full story

South Africa's Amplats aims for $211 million cost cutting and capex savings this year

23/04 South Africa's Anglo American Platinum (Amplats) said on Thursday it aims to save around 4 billion rand ($211 million) through cost cutting and capex savings this year to offset production losses during a nationwide lockdown. . .  Full story

Shares in South Africa's Nedbank fall over 9% as it withdraws 2020 guidance over COVID-19

15/04 Shares in South African lender Nedbank fell over 9% at market open on Wednesday, a day after the lender withdrew its financial guidance for 2020 and put some key targets under review due to the. . .  Full story

S.Africa's rand rallies with riskier assets on signs of slower coronavirus infection rates

07/04 South Africa's rand firmed by more than 3% on Tuesday, in line with a broad rally in emerging market currencies and other riskier assets on hopes that steps to contain the coronavirus pandemic were. . .  Full story

South Africa's Sasol warns possible coronavirus disruptions could hit full-year results

31/03 South African petrochemicals producer Sasol Ltd, the world's top producer of motor fuel from coal, said on Tuesday its full year results could be hit by potential disruptions to production, supply chains and construction as. . .  Full story

S.Africa's big banks say up to a fifth of borrowers may not qualify for relief during virus

30/03 South Africa's biggest retail banks say that around 15-20% of their lending books do not definitely qualify for coronavirus relief measures announced by the banks last week, though more could be done if the government. . .  Full story

South Africa's MTN drops data prices after competition probe

20/03 MTN said it had agreed to cut the cost of its data bundles on Friday after South Africa's competition watchdog warned in December that the telecoms operator and rival Vodacom faced prosecution if they did. . .  Full story

Anglo American Platinum nudges output guidance lower

19/03 Anglo American Platinum's full-year production of platinum group metals will be at the lower end of its previous outlook, it said on Thursday, sending its shares down 10%.. . .  Full story

GRAPHIC-After the rout, platinum and palladium face more turmoil before recovery

19/03 Platinum and palladium will remain turbulent in coming months after huge losses sparked by the spread of coronavirus, before starting a tentative recovery with support from palladium's supply gap and platinum's correlation with gold, analysts. . .  Full story

S.Africa's Sun International closes casinos and hotels in Latin America over COVID-19

17/03 South Africa's Sun International said on Tuesday that it will close all of its casinos in Chile, along with its hotels and food and beverage operations, in response to instructions received from Chilean gambling authorities.. . .  Full story

South Africa's Vodacom to slash mobile data prices after watchdog report

10/03 South African telecoms firm Vodacom Group has agreed to reduce the cost of its data offerings by as much as 40%, following a finding that the country's mobile data prices were the highest on. . .  Full story

South Africa's rand recovers as budget risk draws nearer

25/02 South Africa's rand traded firmer early on Tuesday, recovering alongside fellow emerging markets currencies flattened in the previous session as investors worried about the rapid spread of the coronavirus outside of China.. . .  Full story

South Africa's Tiger Brands CEO to retire, CFO to take helm

29/01 Tiger Brands CEO Lawrence Mac Dougall will retire on Jan. 31, having reached the company's mandatory retirement age of 63, South Africa's leading food producer said on Wednesday.. . .  Full story

Britain's Just Eat rejects raised offer from Prosus

10/12 Just Eat rejected a raised takeover offer from Dutch-based technology group Prosus on Tuesday because it significantly undervalued the company and said it continued to back a rival all-share offer from . .  Full story

Unions up ante at South African Airways as finances approach crunch

20/11 Unions are escalating a crippling strike at South African Airways (SAA) after talks broke down, leaving the state-run carrier at risk of liquidation without a government guarantee to secure bank funding, a board member said.. . .  Full story

Losses more than double at South African construction group Aveng

29/08 South African construction group Aveng on Thursday said its net operating loss more than doubled in the latest financial year, highlighting the challenges the company faces as it embarks on a turnaround strategy.. . .  Full story

South African drugstore Dis-Chem benefits from medicine price hike

28/08 South African drugstore chain Dis-Chem Pharmacies Ltd said on Wednesday that its revenues rose 13.5% in the five months through July, thanks to an increase in medicine prices and a jump in wholesale revenues.. . .  Full story

Bidcorp says UK logistics unit sale nearing completion

28/08 South African food services firm Bid Corporation Ltd (Bidcorp) said on Wednesday the sale of its UK logistics business was back on track and nearing completion, which would allow the group to focus on. . .  Full story

South African drugmaker Adcock profit jumps, offloads Ghana investment

28/08 South African pharmaceutical firm Adcock Ingram Holdings Ltd said on Wednesday full-year earnings rose 10.6% and that it disposed of its investment in Ghana.. . .  Full story

Anglo American Platinum completes buyout of prospecting rights from Atlatsa

27/08 Anglo American Platinum (Amplats) said on Tuesday its subsidiary Rustenburg Platinum Mines (RPM) had completed the acquisition of the Kwanda North and Central Block prospecting rights for 300 million rand from Atlatsa Resources Corp... . .  Full story

South Africa's rand weaker in cautious trade, stocks up

27/08 South Africa's rand weakened on Tuesday, with traders sceptical about comments by President Donald Trump expressing hope for a possible U.S.-Chinese trade deal just days after the two countries raised tariffs against each other.. . .  Full story

Imperial to exit S.Africa consumer business by Sept, mulls Europe shipping unit disposal

27/08 Imperial Logistics Ltd expects to wind up its loss-making consumer packaged-goods (CPG) business in South Africa by the end of September and is also considering disposing of its shipping unit in Europe as it overhauls. . .  Full story

South Africa's rand weaker in cautious trade

27/08 South Africa's rand weakened early on Tuesday, giving up small overnight gains as concerns about the U.S.-China trade war and the knock-on effect on global growth weighed on risk sentiment.. . .  Full story

African Markets - Factors to watch on August 27

27/08 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - EVENTS. . .  Full story

Africa's biggest bank targets its smallest shops in fintech deal

27/08 South Africa's Standard Bank has taken a stake in local fintech firm Nomanini to offer credit to potentially millions of small shop owners and other informal retailers across Africa that have limited access to banking. . .  Full story

South African rand firms on easing trade tensions, equities down

26/08 South Africa's rand firmed in afternoon trade on Monday as the United States and China sought to ease trade war tensions while investors also looked to a slew of domestic economic data later in. . .  Full story

S.Africa's Sasol lowers LCCP earnings, delays start-up dates for units

26/08 Sasol said on Monday it had reduced its 2020 core earnings target for its U.S. ethane cracker project and revised the dates for the start-up of some of the company's downstream units following technical issues.. . .  Full story

S.Africa's Sasol lowers LCCP earnings and revises unit start-up dates

26/08 Sasol said on Monday it had reduced its 2020 core earnings target for its U.S. ethane cracker project and revised the dates for the unit's start-up following technical issues.. . .  Full story

Super Group FY HEPS 373.8 Cents

26/08 Super Group Ltd:. . .  Full story

South Africa's rand firms on weaker dollar after Fed chair speech

23/08 South Africa’s rand firmed to a two-week high on Friday as the dollar slipped after U.S. Federal Reserve Chair Jerome Powell set the stage for further interest rate cuts.. . .  Full story

South Africa to roll out sweeping health reform in stages

23/08 A proposed move to universal health coverage in South Africa will be rolled out in stages as the budget improves, a senior presidential aide told Reuters, forecasting the landmark reform would cost $2.2 billion. . .  Full story

Grindrod HY HEPS Of 20.1 Cents

23/08 Grindrod Ltd:. . .  Full story

South African Markets - Factors to watch on Aug. 23

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

S.African rand gains fade as investors left on edge over Fed

22/08 South Africa's rand was flat on Thursday, as a boost from lower-than-expected local inflation was overshadowed by worries that further U.S. Federal Reserve easing might take longer than expected.. . .  Full story