SA Company

Kenya orders deportation of 17 foreign directors of betting firms

17/07 Kenya has ordered the deportation of 17 foreign directors of betting firms operating in Kenya, the interior ministry said on Wednesday, almost a week after ordering telecoms firm Safaricom to stop processing payments for sports. . .  Full story

South Africa's rand inches weaker in wait-and-see session

16/07 South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls.. . .  Full story

South African Markets - Factors to watch on July 16

16/07 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

South Africa's Amplats expects half-year earnings to double

16/07 Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of 1.0 billion rand ($72 million).. . .  Full story

Nigerian stocks drop to new two-month low

15/07 Nigerian stocks fell to a fresh two-month low on Monday, led down by banks and heavyweight Dangote Cement.. . .  Full story

With hip hop and bumper home loans, big banks target South Africa's youth

15/07 South Africa's biggest banks are betting cut-price accounts, big mortgages and offers on everything from Adidas backpacks to Xboxes will help them win over the youth market, which many overlooked until it was targeted by. . .  Full story

Zeder Investments Issues Cautionary Announcement

15/07 Zeder Investments Ltd:. . .  Full story

South Africa's rand set for weekly gains, stocks flat

12/07 South Africa's rand retreated from a five-month high on Friday as risk appetite subdued, but was on track for weekly gains after expectations the U.S. Federal Reserve would cut interest rates had stoked demand for. . .  Full story

South African rand stronger with Fed seen cutting rates

11/07 South Africa's rand strengthened on Thursday after the chairman of the Federal Reserve set the stage for a U.S. interest rate cut later this month, weakening the dollar and boosting risk appetite worldwide.. . .  Full story

S.Africa's Nampak has made significant progress in talks for glass unit sale

11/07 South African diversified packaging group Nampak has made significant progress in the negotiations to sell its Glass business, it said on Thursday.. . .  Full story

South Africa's Woolworths shares rise on sales turnaround

11/07 South African department chain Woolworths said on Thursday it had turned around its fashion, beauty and home business after fixing poor product choices in clothing, which had weighed on its sales the previous year.. . .  Full story

South Africa's rand firms on Powell's remarks, Kganyago reappointment

10/07 South Africa's rand firmed on Wednesday as the dollar weakened after U.S. Federal Reserve Chairman Jerome Powell highlighted risks to the U.S. economy in remarks that could bolster expectations of an interest rate cut later. . .  Full story

Qatar leads $150 mln funding for Indian education startup Byju's

10/07 Indian online tutoring startup Byju's said on Wednesday it had raised $150 million from investors led by the Qatar Investment Authority (QIA), which a source familiar with the matter said valued it at more. . .  Full story

ArcelorMittal S.Africa to cut more than 2,000 jobs, shares drop

10/07 The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports, rising costs and a flagging local economy, it warned. . .  Full story

ArcelorMittal South Africa may cut more than 2,000 jobs

10/07 ArcelorMittal's South Africa unit said on Wednesday it was considering a large-scale restructuring expected to affect more than 2,000 jobs, after warning its headline earnings for the first half of the year would fall by. . .  Full story

South African platinum firms kick off wage talks

09/07 The world's top platinum miners kicked off talks with South Africa's unions on Tuesday in what is expected to be a tough round of wage talks, as a rise in profits is likely to. . .  Full story

South Africa's rand steady as Fed cut bets fade

08/07 South Africa's rand steadied against a firmer dollar in afternoon trade on Monday, after last week's strong U.S. jobs data lowered expectations of a sharp Federal Reserve interest rate cut.. . .  Full story

South Africa's Implats to swing back to annual profit

08/07 South Africa's Impala Platinum (Implats) said on Monday it expects to swing back to annual profit, thanks to an improved platinum metals' basket price and higher sales volumes.. . .  Full story

Rand rattled by stronger U.S payrolls data, South African stocks slip

05/07 The rand slumped on Friday as data showing U.S. job growth rebounded strongly in June sent the dollar sharply higher, while the resources sector led South African stocks lower.. . .  Full story

Ramaphosa: S.Africa must not let economy be held back by US-China trade war

05/07 President Cyril Ramaphosa said on Friday that South Africa cannot allow its economy to be held back by the U.S.-China trade war.. . .  Full story

South African drugmaker Aspen terminates talks with potential European partner

05/07 South African drugmaker Aspen Pharmacare said on Friday it had terminated talks with a potential partner in Europe, after announcing in March a strategic review of its European and domestic commercial pharmaceuticals businesses.. . .  Full story

South Africa's rand firms to 3-month high, stocks down

04/07 South Africa's rand rose against the dollar on Thursday to hit its strongest in nearly three months, tracking fellow emerging market currencies, as the dollar was dented by hopes of U.S. interest rate cuts.. . .  Full story

South Africa's central bank aims to sell African Bank stake in year or two

04/07 South African Reserve Bank (SARB) expects to sell its 50% stake in African Bank in a year or two, the central bank's deputy governor said on Thursday.. . .  Full story

South Africa's rand steady as trade woes hit EM currencies, stocks dip

03/07 South Africa's rand was little changed late on Wednesday, struggling for momentum along with stocks as worries that a prolonged U.S.-China trade war will slow global growth put emerging markets under pressure.. . .  Full story

Naspers appoints Mahanyele-Dabengwa to new CEO South Africa post

03/07 Naspers has appointed Phuthi Mahanyele-Dabengwa to the newly created role of chief executive officer of South Africa, the media and e-commerce firm said on Wednesday.. . .  Full story

South Africa's rand firms as dollar slips, stocks down

02/07 South Africa's rand firmed against the U.S. dollar on Tuesday, helped by a weaker greenback as optimism about easing trade tensions between the United States and China faded, while stocks fell due to profit-taking.. . .  Full story

S.Africa's Truworths in talks to restructure debt at British shoe chain Office

02/07 South African fashion retailer Truworths International Ltd said on Tuesday its British footwear chain Office has entered debt restructuring talks with its lenders amid tough trading conditions.. . .  Full story

South African Markets - Factors to watch on July 2

02/07 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

South African rand flat as dollar rebound blocks surge to 14 mark

01/07 South Africa's rand inched firmer on Monday, clinging on to a month's worth of gains towards the crucial 14.00 mark despite the dollar recovering from its recent slump as trade tensions between Washington and Beijing. . .  Full story

South Africa's PPC bows to environmental regulations

28/06 South African cement company PPC said on Friday it expects to pay as much as 120 million rand ($8.5 million) per year due to the new carbon tax and will shut down a kiln. . .  Full story

South African Markets - Factors to watch on June 28

28/06 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

South African cement firm PPC's profits boosted by cost cuts

27/06 South African cement company PPC reported a 33% increase in annual earnings on Thursday, buoyed by a reduction of group overhead costs and other saving initiatives.. . .  Full story

South Africa's Grand Parade appoints acting CEO as new head

27/06 South Africa's Grand Parade Investments (GPI) Ltd has appointed acting chief executive officer Mohsin Tajbhai as the new head with effect from July 1, it said on Thursday.. . .  Full story

South Africa's PPC annual earnings rise on cost saving initiatives

27/06 South African cement company PPC reported a 33% increase in annual earnings on Thursday, buoyed by a reduction of group overhead costs and other saving initiatives.. . .  Full story

MTN Nigeria shares hit lowest since listing after $2 bln tax case adjourned

27/06 Shares in MTN Nigeria dropped on Thursday to their lowest level since the telecom company listed five weeks ago, after a court case about its $2 billion tax dispute with the government was adjourned. . .  Full story

MTN Nigeria shares drop to 5-week low as $2 bln tax case adjourned to Oct

27/06 MTN Nigeria shares dropped to their lowest level in five weeks a day after a local court adjourned until October a case involving the telecoms firm with the government over a $2 billion tax. . .  Full story

S.Africa's rand firmer as trade talk hopes rise, stocks edge up

26/06 South Africa's rand firmed on Wednesday as risk appetite improved after comments from the U.S. Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential U.S. interest rate. . .  Full story

South Africa's PPC picks ex-Lafarge veteran van Wiljnen as CEO

26/06 South African cement company PPC named ex-LafargeHolcim veteran Roland van Wiljnen as its new chief executive on Wednesday after a near seven-month search.. . .  Full story

South Africa's Exxaro says Eskom woes to hit coal production

26/06 South African miner Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said. . .  Full story

Nigerian court adjourns tax case between MTN and attorney general

26/06 A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general.. . .  Full story

Nigerian court case between MTN, attorney general over $2 bln tax dispute adjourned to Oct 29

26/06 A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between telecoms company MTN Group and the country's attorney general.. . .  Full story

South African Markets - Factors to watch on June 26

26/06 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

South Africa's rand firmer as dollar dips on U.S. rate cut bets

25/06 South Africa's rand firmed on Tuesday as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency, which in turn supported developing world currencies.. . .  Full story

S.Africa's Omnia to evaluate businesses as thin margins, high debt weigh

25/06 South African chemicals and fertiliser maker Omnia Holdings said on Tuesday it will evaluate the returns from its business units and look at cost cutting as it battles high debt and thin margins squeezed by. . .  Full story

Group Five's chairwoman, non-executives resign

25/06 Group Five said on Tuesday its chairwoman had resigned along with three non-executive directors three-months after the South African construction company filed for creditor protection.. . .  Full story

South Africa's rand firmer as dollar falls on rate cut bets

25/06 South Africa's rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by U.S. and. . .  Full story

South Africa's Amplats expects 80 pct jump in half-year earnings

25/06 Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period. . .  Full story

South African Markets - Factors to watch on June 25

25/06 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

South African rand slips after strong gains last week

24/06 South Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit.. . .  Full story

Invicta Holdings FY HEPS Up 93% To 112 Cents

24/06 Invicta Holdings Ltd:. . .  Full story

South African Markets - Factors to watch on June 24

24/06 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

Naspers' pay-tv arm MultiChoice looks to lay off more than 2,000 workers

21/06 Naspers' pay-television business MultiChoice Group is planning to lay off more than 2,000 workers in South Africa in a shake-up of its customer care service, the company said on Friday.. . .  Full story

Vodacom reaches deal with Congo over 2G licence

21/06 Vodacom Group has reached an agreement with the Congolese government to end a standoff over the suspension of its 2G telecoms licence, the telecommunications ministry said on Friday.. . .  Full story

S.African rand inches back up in wake of Ramaphosa speech, stocks slide

21/06 South Africa's rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa's state of the nation address, which some analysts said lacked detail on how he plans to. . .  Full story

Naspers' pay-tv business Multichoice to lay off 1,790 workers - union

21/06 A South African trade union said on Friday that Naspers' newly listed pay-television business Multichoice Group had notified workers of its intention to lay off 1,790 workers.. . .  Full story

Naspers reports 25% rise in full-year core profits

21/06 South African media and e-commerce giant Naspers on Friday reported a 25% rise in annual core headline earnings, thanks to reduced losses at its e-commerce business.. . .  Full story

Orange sees Ethiopia's telco liberalisation taking shape in 2020

21/06 Orange, France's number one telecoms operator, sees the planned liberalisation of Ethiopia's telecoms market taking shape in 2020, Chief Financial Officer Ramon Fernandez said on Friday.. . .  Full story

South African Markets - Factors to watch on June 21

21/06 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

South African rand pauses rally as investors eye Ramaphosa speech

20/06 South Africa's rand inched firmer late on Thursday following a rally to a five-week best after the U.S. Federal Reserve signalled possible interest rate cuts later this year.. . .  Full story

Orange to invest more than $300 mln in Ivory Coast over two years

20/06 The Ivory Coast unit of French telecoms group Orange aims to invest 180 billion CFA francs ($312 million) this year and next to improve its network and provide new services, its director said on. . .  Full story

Peregrine Holdings FY HEPS 210.8 Cents Per Share

20/06 Peregrine Holdings Ltd:. . .  Full story

African banks to fund construction of world’s biggest marine diamond mining vessel

19/06 Five African commercial banks have partnered in a $375 million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American's diamond unit De Beers.. . .  Full story

Scandal-hit Steinhoff says will suffer more in 2019

19/06 Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares down 8 percent.. . .  Full story

SA Corporate Real Estate Fund Managers Reconstitutes Nomination Committee

19/06 SA Corporate Real Estate Fund Managers (Pty) Ltd:. . .  Full story

Rand rallies as Ramaphosa set to give more support for Eskom

18/06 South Africa's rand rallied in late trade on Tuesday after the government signalled it will give additional support to power firm Eskom and as emerging currencies were lifted by expectations the Federal Reserve could signal. . .  Full story

MultiChoice reports full-year loss

18/06 Africa's biggest pay-TV group MultiChoice on Tuesday reported a headline loss in the year to end-March after foreign exchange losses and a charge for a stake disposal.. . .  Full story

Congo court upholds suspension of Vodacom's 2G licence

17/06 A court in Democratic Republic of Congo upheld the government's suspension of Vodacom Group's 2G telecoms licence on Monday, the company and Congo's telecommunications ministry said.. . .  Full story

South Africa's rand firms as focus shifts to Fed meeting, stocks fall

14/06 South Africa's rand firmed on Friday as domestic political concerns eased, with the focus of investors shifting to inflation data and the U.S. central bank meeting next week.. . .  Full story

South African AMCU union seeks $1,145 monthly basic wage in pay talks

14/06 South Africa's Association of Mineworkers and Construction Union (AMCU) will seek a monthly basic wage of 17,000 rand ($1,145) for its members when platinum pay talks get underway this month, its president said on. . .  Full story

South Africa's Omnia flags full-year loss

14/06 South African chemicals and fertiliser maker Omnia Holdings said on Friday it expected to report a full-year loss as drought, a volatile currency, changes in the mining industry and difficult global trading conditions weighed on. . .  Full story

Rand edges down as Ramaphosa, inflation data in focus

13/06 South Africa's rand inched lower late on Thursday, as investors assessed local political developments ahead of local inflation numbers next week and a decision on U.S. interest rates.. . .  Full story

Ethiopian telecoms sector requires 'huge' investments -minister

12/06 Ethiopia could require as much as $2.2 billion to modernise its creaking, overburdened telecoms sector, a senior government official told Reuters on Wednesday.. . .  Full story

Politics weighs on South Africa's rand, stocks

12/06 South Africa's rand weakened against the dollar on Wednesday, extending earlier losses after mixed local data and the anti-graft ombudsman's calls for President Cyril Ramaphosa to respond to findings from an investigation into a bribe. . .  Full story

Vodacom challenges 2G network suspension in Congo court

12/06 Vodacom Group's local unit in the Democratic Republic of Congo has filed a lawsuit against the revocation of its 2G telecoms license, the country's telecommunications minister said on Wednesday.. . .  Full story

South Africa's rand lifted by EM demand, manufacturing surprise

11/06 South Africa's rand rallied more than 1% on Tuesday, stretching its rally back from a nine-month low as cooling trade war worries and much larger-than-expected growth in local manufacturing boosted the battered currency and equities.. . .  Full story

Africa's MultiChoice warns of swing to full-year loss

10/06 MultiChoice Group, Africa's biggest pay-TV company, expects to swing to a headline loss this year, hurt by foreign exchange losses and a charge on a stake disposal at its South African business.. . .  Full story

South African rand recovers but still vulnerable

10/06 South Africa's rand started the week firmer against the dollar, recovering some ground on Monday after steep losses last week although a number of economic data releases in the coming days could knock it. . .  Full story

South African sugar producer Tongaat suspends shares due to results delay

10/06 Shares in South African sugar producer Tongaat Hulett were suspended from trade on the Johannesburg and London stock exchanges on Monday at the company's request as it prepares to restate its financial results.. . .  Full story

S.African government sued over coal and industrial air pollution

10/06 South Africa's government has failed to tackle high air pollution levels in an area which is home to coal-fired power stations and refineries, a lawsuit filed by environmental and community groups says.. . .  Full story

Securities trading in South African sugar producer Tongaat suspended

10/06 Trading in South African sugar producer Tongaat Hulett's securities on the Johannesburg Stock Exchange and London Stock Exchange was suspended on Monday after a delay in the publishing of its financial statements and a review. . .  Full story