SA Business

African debt stabilising but region faces headwinds - IMF

13h04 Sub-Saharan Africa's public debt load is stabilising but the region's economies face mounting headwinds due to slowing global growth that will weigh on exports, the International Monetary Fund (IMF) said on Friday.  Full story

South African power generation plan keeps coal in the mix

18/10 South Africa's plans to boost electricity generation over the next decade will be a mix of renewable energy and coal power, Energy Minister Gwede Mantashe said on Friday, as nationwide power cuts entered a. . .  Full story

South Africa's rand rides optimism over new power plan

18/10 South Africa's rand firmed on Friday, building on gains made after the government released a long-delayed plan for electricity generation to address crippling power cuts.. . .  Full story

South Africa's 3-month T-bill average yield higher at 6.96%

18/10 South Africa sold 1.244 billion rand ($84 million) of three-month Treasury bills, less than the 2.4 billion rand on offer, at an average yield of 6.96%, central bank data showed on Friday.. . .  Full story

South Africa looks to procure new power urgently to address outages

18/10 The South African government is working on a request for information (RFI) for power supply options that could come online quickly to help address power cuts, acting deputy director general for energy planning Thabang Audat. . .  Full story

Yields rise at South Africa inflation-linked bond auction

18/10 South Africa sold a total of 1.040 billion rand ($70.48 million) of its 2025, 2038 and 2050 inflation-linked bonds, central bank data showed on Friday. Yields were higher compared to the. . .  Full story

Coal to play significant role in South Africa power mix - minister

18/10 South Africa's plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a significant role as well as more renewable energy,. . .  Full story

South Africa's rand firmer on release of new power plan

18/10 South Africa's rand inched firmer early on Friday, clinging on to the strong gains it made in the previous session, after the country's cabinet approved a long-delayed plan for electricity generation.. . .  Full story

South Africa's rand firms as cabinet approves power plan

17/10 South Africa's rand firmed on Thursday after the country's cabinet approved the promulgation of its long-delayed plan for electricity generation amid nationwide power cuts by state utility Eskom.. . .  Full story

Zimbabwe cancels deal with Transnet to recapitalise state rail firm

17/10 Zimbabwe is cancelling a deal struck with South African logistics group Transnet to recapitalise National Railways of Zimbabwe (NRZ), a government official said on Thursday, blaming the consortium for not providing. . .  Full story

Eyeing economic growth, S.Africa seeks to renegotiate old renewables projects

17/10 South Africa has started discussions with power producers to try to get cheaper electricity from some older renewable energy projects and give the economy a boost, several participants in the talks say.. . .  Full story

South African mid-term budget may come a day early -finance minister

17/10 Finance Minister Tito Mboweni said on Thursday that South Africa's mid-term budget may be presented on Oct. 29, a day earlier than scheduled, to accommodate President Cyril Ramaphosa's travel plans.. . .  Full story

South Africa's rand slides further as blackouts return

17/10 South Africa's rand inched lower early on Thursday, extending the previous session's sharp drop as the latest nationwide power cuts by state utility Eskom renewed fears of credit ratings downgrades.. . .  Full story

South Africa's rand rattled by power cuts, stocks led higher by Sibanye

16/10 The rand fell on Wednesday as power cuts by state utility Eskom highlighted the challenges facing South Africa's ailing economy.. . .  Full story

South Africa's latest power cuts highlight Eskom challenge

16/10 South Africa was hit by power cuts on Wednesday after a number of Eskom generating units broke down, highlighting the challenge facing President Cyril Ramaphosa in rescuing the state power firm.. . .  Full story

South Africa's retail sales up 1.1% year/year in August

16/10 South African retail sales rose 1.1% year-on-year in August following a 2% increase in July, Statistics South Africa said on Wednesday.. . .  Full story

Mediclinic International sees higher first-half core profit

16/10 Mediclinic International Plc said on Wednesday it expects higher first-half core earnings, as the healthcare company's Swiss business adjusted to regulatory changes and its Southern Africa and Middle East operations performed. . .  Full story

South Africa's rand tumbles 1% as Eskom plans nationwide power cuts

16/10 South Africa's rand tumbled more than 1% on Wednesday to its softest level in a week after state power utility Eskom said it would implement nationwide blackouts for the first time. . .  Full story

South Africa's Eskom to make power cuts on Wednesday

16/10 South Africa's state power firm Eskom said it will cut up to 2,000 megawatts of power from the national grid on Wednesday due to a shortage of generating capacity.. . .  Full story

South African Markets - Factors to watch on Oct 16

16/10 The following scheduled economic indicators, debt and currency market moves may affect South African markets on Wednesday.. . .  Full story

Yields lower in weekly South African bond auction

15/10 South Africa's Treasury sold a total of 4.53 billion rand ($305 million) worth of its 2030, 2032, and 2037 bonds on Tuesday. Yields were lower compared with previous auctions.. . .  Full story

South Africa's Zuma to appeal decision he must face graft charges

15/10 Former South African president Jacob Zuma will appeal a high court decision to deny him a permanent stay of prosecution on charges related to a $2 billion arms deal, his lawyers said on Tuesday.. . .  Full story

African masts operator Helios Towers prices IPO at low end of range

15/10 African mobile networks operator Helios Towers has priced its initial public offering at 115 pence per share, giving it a market capitalisation of 1.15 billion pounds ($1.45 billion).. . .  Full story

South Africa's rand firmer in global hunt for yield, trade war calm

15/10 South Africa's rand firmed early on Tuesday, resuming last week's rally after the previous session's dip as investors were again lured by the currency's higher potential return amid a calmer local. . .  Full story

African Markets - Factors to watch on Oct 15

15/10 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.. . .  Full story

South African Markets - Factors to watch on Oct 15

15/10 The following scheduled economic indicators, debt and currency market moves may affect South African markets on Tuesday.. . .  Full story

South Africa's rand retreats from 3-week high, stocks down

14/10 The South African rand on Monday retreated from a three-week high it hit in the previous session, as a lack of clarity on U.S.-China trade relations pushed investors back to safe havens and hurt. . .  Full story

Zimbabwe aims to more than triple diamond production by 2023

14/10 Zimbabwe expects to increase diamond production to 11 million carats by 2023 from 3.2 million carats last year, the mines minister said on Monday, part of an ambitious plan to raise. . .  Full story

South African Airways in talks with potential partners

14/10 South Africa's embattled state-owned airline is open to outside investment and in talks with a number of potential partners, President Cyril Ramaphosa said on Monday.. . .  Full story

Offshore investors net sellers of South African stocks, bonds

14/10 Offshore investors sold a net 3.9 billion rand ($263 million) of South African stocks last week and 851 million rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story

South Africa's rand steady on thaw in trade tensions

14/10 South Africa's rand inched slightly up in early trade on Monday, holding near a 3-week high it hit in the previous session, as risk sentiment strengthened following signs of progress in. . .  Full story

South African Markets - Factors to watch on Oct 14

14/10 The following debt and currency market moves may affect South African markets on Monday.. . .  Full story

African Markets - Factors to watch on Oct.14

14/10 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - GLOBAL MARKETS Asian share. . .  Full story

S.Africa's rand races to 3-week high on easing trade war, Brexit tensions

12/10 South Africa's rand powered to a 3-week best on Friday as emerging market currencies were boosted by thawing trade tensions between United States and China.. . .  Full story

Yields mixed at South Africa inflation-linked bond auction

11/10 South Africa sold a total of 1.040 billion rand ($70 million) of its 2025, 2033 and 2046 inflation-linked bonds, central bank data showed on Friday. Yields were mixed compared to. . .  Full story

South Africa's 3-month T-bill average yield higher at 6.93%

11/10 South Africa sold 770 million rand ($52 million) of three-month Treasury bills, less than the 2.4 billion rand on offer, at an average yield of 6.93%, central bank data showed on Friday.. . .  Full story

South Africa's Zuma to face corruption trial

11/10 South African former President Jacob Zuma will stand trial on corruption charges relating to a $2 billion arms deal after a high court on Friday denied him a permanent stay of prosecution.. . .  Full story

South African arms company Denel winds up Aerostructures

11/10 South Africa's Denel is winding up its struggling Aerostructures aircraft parts business after receiving government approval, the state arms company said on Friday.. . .  Full story

Hopes around U.S.-China trade talks bolster South African rand

11/10 South Africa's rand was firmer in early trade on Friday as hopes of progress in U.S.-China trade talks held down the dollar and boosted emerging market currencies.. . .  Full story

South Africa's Eskom challenges latest power tariff decision in court

11/10 South Africa's struggling power utility Eskom said on Friday it was challenging in court the regulator's latest tariff decision, a move it said was necessary to avert financial disaster.. . .  Full story

U.S. sanctions brothers at centre of South African graft scandal

10/10 The United States on Thursday sanctioned the three Gupta brothers at the centre of the South African corruption scandal that contributed to the downfall of former President Jacob Zuma, saying they had misappropriated state assets.. . .  Full story

South African rand stronger as dollar dips, stocks up

10/10 South Africa's rand firmed on Thursday, as the dollar retreated on global markets, with safe-haven demand for the U.S. currency waning as investors grew optimistic about a trade deal between the. . .  Full story

South African cement group PPC's CFO Ramano to step down

10/10 South African cement company PPC Ltd said on Thursday Chief Financial Officer Tryphosa Ramano, who was also an executive director, is to step down on Oct. 31.. . .  Full story

South Africa's manufacturing down 1.8% year/year in August

10/10 South Africa's manufacturing output was down 1.8% year-on-year in August after contracting by a revised 0.7% in July, the statistics agency said on Thursday.. . .  Full story

Italy out as World Cup games called off for first time due to typhoon

10/10 Rugby World Cup organisers were forced to call off matches for the first time in the tournament's 32-year history on Thursday - eliminating Italy as a result - saying the risk. . .  Full story

S&P Global says no immediate pressure on South Africa rating

10/10 Ratings agency S&P Global's South Africa analyst said on Thursday there was no immediate pressure to change the country's sovereign rating, despite weak economic growth and a growing debt burden.. . .  Full story

Tanzania gold export earnings up 25% in year to August -central bank

10/10 Tanzania's earnings from gold exports rose 25.1% in the year to August, buoyed by higher output of the precious metal, its central bank said on Thursday.. . .  Full story

South African Markets - Factors to watch on Oct 10

10/10 The following scheduled economic indicators, debt and currency market moves may affect South African markets on Thursday.. . .  Full story

World Bank cuts Sub-Saharan Africa's 2019,2020 growth forecast

09/10 The World Bank on Wednesday cut its economic growth forecast for sub-Saharan Africa for 2019 to 2021 by 0.2 percentage points from its earlier projection, citing a slowdown in fixed investment and policy uncertainty. . .  Full story

Zimbabwe quadruples electricity prices, pummelling impoverished consumers

09/10 Zimbabwe hiked its average electricity tariff by 320% on Wednesday to ramp up power supplies at a time of daily blackouts, but the move will anger consumers already grappling with soaring inflation that is eroding. . .  Full story

South Africa's September business confidence recovers from 34-year low - SACCI

09/10 South African business confidence improved in September, recovering from a 34-year low in the previous month as exports and vehicle sales increased while economic activity picked-up, a survey showed on Wednesday.. . .  Full story

Zimbabwe quadruples electricity prices to fund power investment

09/10 Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national. . .  Full story

South Africa's rand pauses slide as risk clouds gather

09/10 South Africa's rand was little changed early on Wednesday as traders took profits on the dollar and braced for more volatility, with hopes fading for a trade truce between the United. . .  Full story

South African Markets - Factors to watch on Oct. 9

09/10 The 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, stocks fall as risk sentiment wanes

08/10 South Africa's rand and stocks weakened on Tuesday as concerns over the upcoming U.S.-China trade talks and escalating tensions between London and Brussels sparked a flight to safety, denting appetite for. . .  Full story

Yields fall in weekly South Africa government bond auction

08/10 South Africa's Treasury sold a total of 4.53 billion rand($298.65 million) worth of its 2032 , 2035, and 2048 instruments on Tuesday. Yields were lower compared with the previous auctions.. . .  Full story

Rwanda launches first 'Made in Africa' smartphones

08/10 Rwanda's Mara Group launched two smartphones on Monday, describing them as the first "Made in Africa" models and giving a boost to the country's ambitions to become a regional technology hub.. . .  Full story

South African rand weakens as focus shifts to China-U.S. trade talks

07/10 South Africa's rand weakened against the dollar on Monday after China was reported to be reluctant to agree to a broad trade deal with Washington, casting doubts on trade talks due to start this. . .  Full story