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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.. . .
15/08 Clothing retailer Truworths
International Ltd on Thursday reported a 57.5% fall in
full-year profit before tax due to the 97 million pound ($117.44
million) impairment charge related to its Office shoe chain in
Britain.. . .
15/08 South African bullion
producer Harmony Gold full-year profits are expected to
rise by as much as 32% boosted by increased production and
profit from its from Moab Khotsong and Hidden Valley operations
and lower impairments.. . .
15/08 South Africa's Impala Platinum (Implats)
said on Thursday it expects to swing into profit this
year boosted by higher sales, rhodium and palladium prices and
improved performance at its Rustenburg operations.. . .
15/08 The South African rand
firmed early on Thursday, pulling back from a slide to its
lowest in nearly 11 months as investors digested signs of global
economic recession and looked to buy the currency. . .
14/08 South African stocks
slipped to a near six-month low on Wednesday after the U.S.
Treasury bond yield curve inverted for the first time since
2007, reflecting concerns over the outlook for the world's
biggest economy.. . .
14/08 South African private
education firm Curro Holdings will invest 223 million
rand ($14.66 million) in opening four new campuses, it said on
Wednesday, after reporting a 44% rise in half-year headline
earnings.. . .
13/08 South Africa's rand firmed
on Tuesday, helped by improved risk appetite on signs of easing
trade friction after the United States said it would delay
tariffs on some Chinese products and both sides agreed. . .
13/08 A drop in earnings at
Absa's South African corporate and investment bank took
the shine off progress at its core domestic retail business as
the lender reported a 5% rise in first-half profit on. . .
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