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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.. . .
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. . .
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.. . .
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.. . .
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. . .
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.. . .
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.. . .
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. . .
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.. . .
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. . .
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. . .
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.. . .
06/07 The following company announcements,
scheduled economic indicators, debt and currency market moves
and political events may affect African markets on Monday.
- - - - -
* Seychelles to. . .
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. . .
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%. . .
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. . .
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. . .
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. . .
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. . .
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. . .
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. . .
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. . .
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. . .
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. . .
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.. . .
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. . .
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.. . .
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
Takeaway.com.. . .
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.. . .
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.. . .
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.. . .
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. . .
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... . .
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.. . .
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. . .
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. . .
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. . .
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.. . .
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. . .
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.. . .
22/08 Shares in South African
budget clothing and furniture retailer Mr Price tumbled
on Thursday after the firm reported a slowdown in sales in the
first four months of its financial year, citing a slow. . .
21/08 South African chemicals and
fertiliser maker Omnia Holdings said on Wednesday its
chief executive officer Adriaan de Lange has resigned and will
be replaced by the current group finance director.. . .
21/08 South Africa's rand rallied
more than 1% to its firmest in nearly a week on Wednesday on
optimism the central bank has room to boost the flagging economy
after consumer inflation fell more than. . .
20/08 Shoprite Holdings
missed full-year earnings forecasts on Tuesday, hit by inventory
shortages in South Africa and currency devaluations in the rest
of Africa, which overshadowed an improved second half in its
home market.. . .
20/08 South Africa's rand firmed
early on Tuesday, pulling back from an 11-month low as long
dollar investors took some profits and awaited further clues on
the outlook for the global and local economy.. . .
20/08 South Africa's supermarket
chain Shoprite Holdings reported lower-than-expected
full-year earnings on Tuesday as inventory shortages at home and
currency devaluations in the rest of Africa weighed on profit.. . .
19/08 Russia's Norilsk smelter
complex and a town in South Africa's eastern coal mining
province have the highest sulphur dioxide (SO2) emissions in the
world, according to satellite data from U.S. space agency NASA.. . .
19/08 South Africa's rand weakened on Monday as
traders and investors continued to weigh heightened global
growth risks against local uncertainty, while equities rose in
line with global stock markets.. . .
16/08 Sasol Ltd delayed
the release of its annual financial results on Friday due to
possible "control weaknesses" at its U.S. ethane cracker
project, sending shares in the chemicals and energy company down
by more than. . .
16/08 South Africa's rand was
firmer early on Friday, adding to the previous session's gains
in a recovery driven mainly by investors covering their short
positions in anticipation of sharper falls as local and global
growth. . .
15/08 South Africa's Truworths
International Ltd is considering closing loss-making
stores of its UK-based shoe chain Office, joining the growing
ranks of retailers to be hit by Britain's gloomy trading
environment.. . .
15/08 South African fashion
retailer TFG will decide next year whether to continue
trading in Kenya and Ghana where it has at least six stores in
each market, Chief Executive Officer Anthony Thunstrom said on
Thursday.. . .
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