SA Business

S.Africa's Tiger Brands flags H1 profit rise of up to 55%

09h21 South Africa's biggest food producer Tiger Brands said on Thursday it expects its half-year profits to rise by up to 55% versus a year earlier.. . .  Full story

S.African lender Absa expects 10-fold jump in half-year profit

09h05 South Africa's Absa expects a 10-fold profit jump for the six months to June 30, it said on Thursday, citing cost controls and reduced bad debts.. . .  Full story

Naspers, Prosus launch share swap deal to shrink S.Africa discount

12/05 Dutch-listed technology investor Prosus NV plans to raise its stake in South African parent Naspers to nearly 50% in a share swap deal that will move part of their huge holding in China's Tencent to. . .  Full story

Pepco's Warsaw IPO likely to be priced at 40 zloty per share, say bookrunners

12/05 The market debut of discount retailer Pepco is likely to be priced at least at 40 zlotys ($10.68) per share, bookrunners said on Wednesday, meaning shareholders may sell stock worth around 3.7 billion zlotys. . .  Full story

Yields down in weekly South African government bond auction

11/05 South Africa's government sold a total of 3.9 billion rand ($279.22 million) of its 2026 , 2035 and 2048 bonds on Tuesday. Yields fell compared with the previous auctions.. . .  Full story

South Africa's manufacturing output up 4.6% year on year in March

11/05 South Africa's manufacturing output rose 4.6% year on year in March after falling by a revised 2.5% in February, the statistics agency said on Tuesday.. . .  Full story

Bullion rally helps S.Africa's Harmony Gold boost Q3 earnings

11/05 South African miner Harmony Gold on Tuesday reported a jump in third-quarter core profit, boosted by higher output and a strong gold price, positioning the miner to pursue growth.. . .  Full story

Zambia, IMF make progress towards bail-out loan programme

10/05 Zambia's finance ministry said on Monday that it had reached a broad agreement with the International Monetary Fund (IMF) on macroeconomic parameters, fiscal targets and policy objectives, during talks to secure a lending programme.. . .  Full story

South Africa's rand at 16-month high after Moody's makes no change

10/05 South Africa's rand rose to a 16-month peak against the dollar on Monday after Moody's left its sovereign ratings unchanged, while an improving local political environment and the global market risk-on sentiment provided further support.. . .  Full story

South Africa warns of 'vaccine apartheid' if rich countries hog shots

10/05 South African President Cyril Ramaphosa said on Monday that if wealthy nations hogged COVID-19 shots while millions in poor countries died waiting for them it would amount to "vaccine apartheid".. . .  Full story

Offshore investors net sellers of South African stocks, buy bonds

10/05 Offshore investors sold a net of 3.17 billion rand ($225.57 million) of South African stocks last week and bought 8.27 billion rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story

S.Africa's Clicks to acquire retailer Pick N Pay's pharmacies

10/05 South African pharmacist Clicks said on Monday it planned to acquire 25 in-store pharmacies, their drug stocks and staff from retailer Pick N Pay .. . .  Full story

South African rand hits 16-month high before Moody's review

07/05 The rand gained strongly on Friday, hitting its highest level against the dollar since January 2020, hours before Moody's was scheduled to publish a review of South Africa's credit rating.. . .  Full story

South Africa's net foreign reserves rise to $51.504 bln in April

07/05 South Africa's net foreign reserves rose to $51.504 billion in April from $50.877 billion in March, the Reserve Bank said on Friday.. . .  Full story

African Markets - Factors to watch on May 7

07/05 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.. . .  Full story

COVID-19 vaccine patent waiver talks could still take months

06/05 President Joe Biden threw his support behind waiving intellectual property rights for COVID-19 vaccines in a sharp U.S. reversal, but it could take months for the World Trade Organization (WTO) to hammer out any deal.. . .  Full story

Miner Sibanye-Stillwater's first-quarter core profit jumps 78%

06/05 South African miner Sibanye-Stillwater on Thursday posted a 78% increase in first-quarter core profit, driven by higher metals prices and improved operational performance.. . .  Full story

S.African miner Gold Fields kicks off big spending plans

06/05 South African miner Gold Fields posted steady first-quarter output on Thursday and approved two projects worth $90 million, kicking off big capital spending plans for 2021.. . .  Full story

Anglo American investors approve spin-off of S. African thermal coal

06/05 Anglo American plc said on Thursday shareholders had approved the spin-off of its South African thermal coal business into a new company, paving the way for its listing in Johannesburg and London next month.. . .  Full story

African Markets - Factors to watch on May 6

06/05 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.. . .  Full story

South African rand gains as dollar eases, Magashule suspended

05/05 The South African rand gained on Wednesday afternoon, as the U.S. dollar eased off a more than two-week high hit earlier in the day and local media reported that the governing party had suspended. . .  Full story

African Markets - Factors to watch on May 5

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

South African rand slips, bonds firm as dollar on front foot

04/05 The South African rand weakened against a dominant dollar on Tuesday, erasing the previous day's gains as investors awaited upcoming data and policy speeches.. . .  Full story

Zimbabwe central bank says keeps policy rate at 40%

04/05 Zimbabwe's central bank said on Tuesday that its monetary policy committee (MPC) had decided to keep its policy rate at 40%.. . .  Full story

Vaccine hesitancy slows Africa's COVID-19 inoculation drive

04/05 When Edith Serem received her COVID-19 vaccination last month at a hospital in Nairobi where she works as a doctor, nurses jokingly warned she might start speaking in a foreign language.. . .  Full story

South Africa allocates an extra $276 mln to fight COVID-19

04/05 South Africa has allocated an extra 4 billion rand ($276 mln) to buy COVID-19 vaccines and extend a special distress grant to thousands of people hit by the pandemic, in a Special Appropriation Bill. . .  Full story

African Markets - Factors to watch on May 4

04/05 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.. . .  Full story

Offshore investors net sellers of South African stocks, bonds

03/05 Offshore investors sold a net 2.44 billion rand ($169.08 million) of South African stocks last week and 3.89 billion rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story

S.Africa's Sanlam ups stake in Morocco's SAHAM Assurance for $137 mln

03/05 South Africa's Sanlam said on Monday it would buy an additional 22.8% stake in Moroccan insurer SAHAM Assurance for 1.98 billion rand ($137.09 million).. . .  Full story

African Markets - Factors to watch on May 3

03/05 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.. . .  Full story

South African rand weakens as local, global economic woes weigh

30/04 South Africa's rand eased on Friday as weaker-than-expected Chinese factory indicators and firmer economic growth in the United States put demand for riskier currencies under pressure.. . .  Full story

South African Airways exits administration after 17 months

30/04 South Africa's struggling national airline South African Airways (SAA) on Friday exited a local form of bankruptcy protection called business rescue after roughly 17 months.. . .  Full story

New lending by South Africa's banks falls for the first time since 2010

30/04 Loans to South African households and businesses contracted last month for the first time in over a decade, as banks tightened lending terms and uncertainties arising from the COVID-19 crisis, high joblessness and poverty kept. . .  Full story

South Africa regulator says J&J shot can be given to pregnant women

30/04 South Africa's drug regulator has said that Johnson & Johnson's COVID-19 vaccine can be given to pregnant women with co-morbidities or at high risk of contracting the coronavirus.. . .  Full story

South Africa's trade surplus grows to $3.67 billion in March

30/04 South Africa recorded its largest trade surplus on record in March, data showed on Friday, with sales of commodities and minerals rising sharply as global demand driven by the economic recovery from the coronavirus continued.. . .  Full story

South Africa's 3-month T-bill average yield at 3.59%

30/04 South Africa sold 301 million rand ($21 million) of three-month Treasury bills, less than the 1.3 billion rand on offer, at an average yield of 3.59% from 3.64% last week, central bank data. . .  Full story

South Africa's Eskom and unions to start key wage talks next week

30/04 South African state utility Eskom will start a fresh round of wage negotiations with trade unions next week, it said on Friday, warning any disputes could impact its ability to supply electricity.. . .  Full story

South Africa's Implats Q3 production rises by 4%

30/04 South Africa's Impala Platinum (Implats) said on Friday third quarter group output at managed operations rose by 4% to 5.59 million tonnes, with higher volumes reported at Impala Rustenburg, Impala Canada and Marula.. . .  Full story

African Markets - Factors to watch on April 30

30/04 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.. . .  Full story

South Africa's rand weaker after U.S. GDP surprise, markets fall

29/04 South Africa's rand weakened on Thursday as investors took profits on a brief rally spurred by the dovish tone of the U.S. Federal Reserve at its policy-setting meeting, reflecting cautious market sentiment towards the local. . .  Full story

South Africa a surprise safe haven in emerging market maelstrom

29/04 The rand has emerged as an unlikely winner among emerging market currencies since the COVID-19 pandemic swept the globe, despite South Africa's high levels of debt and unemployment.. . .  Full story

African Markets - Factors to watch on April 29

29/04 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.. . .  Full story

South Africa's rand firms in tentative trade ahead of Fed policy decision

28/04 South Africa's rand firmed on Wednesday as the global hunt for high yields trumped caution ahead of the U.S. Federal Reserve's latest policy decision which will likely set the tone for global currency trading in. . .  Full story

Yields mostly lower in weekly South African government bond auction

28/04 South Africa's government sold a total of 4.8 billion rand ($334 million) of its 2030 , 2035 and 2040 bonds on Wednesday. Yields were mostly lower compared with the previous auctions.. . .  Full story

South Africa's Pepkor H1 profit seen up 20% as cash-strapped shoppers seek value

28/04 South African retailer Pepkor Holdings said on Wednesday half-year earnings were expected to rise by at least 20%, supported by growth at its discount clothing business and a reduction in net debt and finance costs.. . .  Full story

African Markets - Factors to watch on April 28

28/04 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.. . .  Full story

African Markets - Factors to watch on April 27

27/04 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.. . .  Full story

Top U.S. trade negotiator meets Pfizer, AstraZeneca execs on COVID-19 IP waiver

27/04 U.S. Trade Representative Katherine Tai on Monday met virtually with top executives of drugmakers Pfizer and AstraZeneca PLC to discuss a proposed waiver of certain intellectual property rights in response to the COVID-19 pandemic.. . .  Full story

South Africa's rand edges higher in thin trade, stocks up

26/04 South Africa's rand edged higher early on Monday in thin trade ahead of a national holiday, with traders unlikely to take many big bets before key data due later in the week.. . .  Full story

Total declares force majeure on Mozambique LNG after insurgent attacks

26/04 French energy group Total declared force majeure on its $20 billion liquefied natural gas (LNG) project in Mozambique and confirmed it had withdrawn all staff from the construction site following insurgent attacks last month.. . .  Full story