SA Business

Zambia's Chinese debt nearly twice official estimate, study finds

16h45 Zambia's debt to Chinese public and private lenders is $6.6 billion, almost double the amount disclosed by the previous Zambian government, the China Africa Research Initiative (CARI) has estimated from an analysis of loan data.. . .  Full story

SAA, Kenya Airways have long-term plan for pan-African airline group

16h06 South African Airways (SAA) and Kenya Airways (KQ) have signed a cooperation agreement with a long-term view to create a pan-African airline group, the two companies said on Tuesday.. . .  Full story

Yields rise in weekly South African government bond auction

12h36 South Africa's government sold a total of 3.9 billion rand ($261.0 million) of its 2035 , 2040 and 2048 bonds on Tuesday. Yields rose compared with the previous auctions.. . .  Full story

South African rand ends stronger, receding Evergrande fears help

27/09 The South African rand ended stronger after a volatile day of trading on Monday, helped by receding fears of widespread market contagion from indebted Chinese developer Evergrande.. . .  Full story

South African rand gains as central bank holds rates

23/09 South Africa's rand gained strongly on Thursday, as the dollar fell on global markets and the central bank held its main interest rate at a record low.. . .  Full story

South African rates on hold as expected, economic bounceback mostly done

23/09 South Africa's central bank kept its main lending rate unchanged at 3.5% on Thursday, as expected, saying an economic bounceback from the COVID-19 pandemic was mostly in the past.. . .  Full story

South African rand gains as Evergrande jitters ease

22/09 South Africa's rand strengthened on Wednesday, as an easing of market jitters over Chinese property developer Evergrande lifted risk-sensitive currencies worldwide.. . .  Full story

Corruption trial of former S.Africa president Zuma postponed to Oct 26

22/09 The corruption trial of former South African president Jacob Zuma for a $2 billion government arms deal has been postponed to Oct. 26, the presiding judge said on Wednesday.. . .  Full story

South Africa's Sasol to cut carbon emissions 30% by 2030

22/09 South African fuel and chemical producer Sasol Ltd has raised its emissions reduction target for 2030 to 30% from 10% as it aims to become a net zero carbon emitter by 2050, its CEO. . .  Full story

South Africa's consumer price inflation rises to 4.9% y/y in August

22/09 South Africa's headline consumer price inflation quickened to 4.9% year on year in August from 4.6% in July, data from Statistics South Africa showed on Wednesday.. . .  Full story

S.Africa's Absa planning transaction to increase Black ownership

22/09 South African lender Absa said on Wednesday it is working to bring Black investors into its shareholder base under a plan accounting for up to 8% of its share capital once implemented.. . .  Full story

S.Africa grants Turkey's Karpowership licences for floating power generation

21/09 South African energy regulator Nersa has granted Turkey's Karpowership three licences to generate power on floating gas ships at ports, a company spokesperson said on Tuesday.. . .  Full story

Takatso says it is still in talks over South African Airways investment

21/09 Takatso Consortium said on Wednesday it was still in discussions with South Africa's Treasury over its purchase of a 51% stake in the country's struggling national airline but said both parties were committed to an. . .  Full story

South African rand slips to 3-week lows, stocks rise

21/09 The South African rand fell to more than three-week lows on Tuesday, hurt by subdued risk appetite and after ratings agency Fitch said Africa's most industrialised economy will continue to face challenges as it seeks. . .  Full story

S.Africa's Zuma seeks to replace prosecutor in arms trial

21/09 A South African court on Tuesday resumed a trial that has dragged out for years over a $2 billion arms deal involving ex-president Jacob Zuma, whose legal team sought to remove a prosecutor they. . .  Full story

S.Africa mobile operator Telkom to decide on towers unit listing

21/09 South Africa's Telkom aims to decide on listing its masts and tower business by next March, the country's third biggest telecom operator said on Tuesday.. . .  Full story

Hospital operator Mediclinic gets Africa's first sustainability-linked loan

21/09 South Africa's Mediclinic has refinanced 8.45 billion rand ($575.26 million) in loans through Rand Merchant Bank, the hospital operator said on Tuesday, in what the bank described as Africa's first sustainability-linked banking facility.. . .  Full story

Zambia mines minister takes aim at Konkola liquidation

20/09 Zambia's mines minister on Monday criticised the previous administration's push to liquidate Vedanta's Konkola Copper Mines (KCM) unit, which sparked years of wrangling.. . .  Full story

S.African insurer to sell part of UK business to Oaktree Capital

20/09 South Africa's Sanlam Ltd will sell part of its UK business to investment firm Oaktree Capital Management for 140 million pounds ($191.37 million), the company said on Monday, and funnel the capital into emerging markets.. . .  Full story

S.Africa's Rand Merchant to unbundle stake in insurers, plans rights issue

20/09 South African financial services holding company Rand Merchant Investment said on Monday it would unbundle its stake in two major local insurers and carry out a rights issue to narrow a discount between its share. . .  Full story

Goldman Sachs hires Barclays' executive to S.Africa unit

20/09 Goldman Sachs Group has hired Simon Denny, head of Banking Africa at Barclays Plc , to run investment banking at its South African unit, the U.S. banking giant told Reuters on Monday.. . .  Full story

South African rand weakens in early trade as dollar rallies

20/09 South Africa's rand weakened in early Monday trade after losing ground last week, as the dollar rallied even as investors stayed cautious ahead of a week packed with local and global economic indicators.. . .  Full story

S.Africa's rand, stocks fall on strong dollar, drop in commodity prices

17/09 South Africa's rand weakened on Friday, reversing some early gains and was set to close the week with an overall loss of almost 3.8% as the U.S. dollar rose and weak domestic economic data. . .  Full story

S.African rand slides as dollar jumps on U.S. data, stocks fall

16/09 The South African rand fell to more than two-week lows on Thursday as the dollar jumped on a surprise rebound in U.S. retail sales, extending this week's rand losses to more than 2%.. . .  Full story

S.Africa says UK climate envoy to visit to discuss helping shift from coal

16/09 Britain's envoy to the U.N. Climate Change Conference plans to visit South Africa ahead of the November talks, officials said, to discuss helping it end an over-reliance on coal that makes it one of. . .  Full story

South Africa's FirstRand posts 56% full-year profit jump

16/09 FirstRand, Africa's largest bank by capitalisation, on Thursday reported a 56% rise in full-year profit, with credit losses easing as it recovers from the impact of the COVID-19 pandemic.. . .  Full story

South Africa's rand falls on weak retail sales data; stocks inch up

15/09 The South African rand fell on Wednesday as a drop in retail sales added to evidence that riots and tight COVID-19 restrictions dealt the economy a severe blow at the start of the third. . .  Full story

Carrefour's franchisee acquires Shoprite's six stores in Uganda

15/09 Majid Al Futtaim, a Carrefour franchise holder, has reached a deal to take over six stores in Uganda from South African retailer Shoprite, it said on Wednesday.. . .  Full story

South Africa's retail sales down 0.8% year/year in July

15/09 South Africa's retail sales fell 0.8% year on year in July after rising by 10.5% in June, Statistics South Africa said on Wednesday.. . .  Full story

S.Africa's FirstRand to end funding for new coal mines, power plants

15/09 South Africa's FirstRand will end funding for new coal-fired power stations and coal mines and has lowered the cap on its coal exposure as part of moves to reach net-zero emissions by 2050, it. . .  Full story

South Africa's rand slumps as JPMorgan recommends selling; stocks drop

14/09 The South African rand slumped on Tuesday afternoon, bringing to a halt a recent rally as investment bank JPMorgan recommended selling the currency.. . .  Full story

Offshore investors net sellers of South African stocks, bonds

14/09 Offshore investors sold a net 4.0 billion rand ($280.99 million) of South African stocks last week and 3.7 billion rand of bonds, data from the Johannesburg Stock Exchange showed on Tuesday. STOCKS. . .  Full story

MTN launches Uganda's first phone-based share trading service

14/09 Uganda's biggest telecoms firm, a unit of South Africa's MTN Group, has launched the East African country's first mobile phone-based stocks trading platform, a senior executive said on Tuesday.. . .  Full story

Zambia says it will restore 'sanity' to rattled mining sector

14/09 Zambia's newly-appointed mines minister said on Tuesday that the government will ensure stability and predictability in the mining sector, seeking to allay fears of royalty hikes.. . .  Full story

S.Africa's Steinhoff raises $515 mln via Pepkor share sale

14/09 South African retailer Steinhoff International said on Tuesday it had raised 7.3 billion rand ($515.46 million) via a sale of 370 million shares in subsidiary Pepkor.. . .  Full story

AngloGold Ashanti agrees to buy out Canada's Corvus Gold

13/09 AngloGold Ashanti agreed on Monday to buy out Canadian-listed Corvus Gold for 4.10 Canadian dollars per share in a deal valuing the exploration firm at 570 million Canadian dollars ($450 million).. . .  Full story

South Africa's rand falls, focus on U.S. inflation data

13/09 South Africa's rand began the week on a weaker footing, as investors awaited readings on U.S. consumer prices that could be crucial to the Federal Reserve's decision on when to exit its super-supportive policy.. . .  Full story

S.Africa's regulator approves Pfizer COVID-19 shot for children 12 and up

11/09 South Africa's health regulator has approved Pfizer's COVID-19 vaccine for use by children aged 12 and older, paving the way for the government to offer vaccinations to teenagers.. . .  Full story

South African rand firms up to two-month high level

10/09 South Africa's rand posted its third consecutive week of gains on Friday, scaling back to a level seen two months ago as stronger local data and a risk-on mood globally supported the currency against. . .  Full story

Steinhoff inches closer to settling lawsuits after gaining more support

10/09 South African retailer Steinhoff International said on Friday it had gained more approval from claimants for its proposed lawsuit settlement offer to those who lost money when it revealed holes in its accounts in December. . .  Full story

Sinovac in talks about setting up South Africa vaccine production

10/09 China's Sinovac Biotech is in talks about setting up a vaccine production facility in South Africa to supply the African continent with shots against a range of diseases, the chief executive of its local partner. . .  Full story

South African Markets - Factors to watch on Sept 10

10/09 The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.. . .  Full story

-South African rand stronger as current account surplus widens to record high

09/09 South Africa's rand strengthened on Thursday thanks to current account data recording its largest surplus ever in the second quarter, while stocks were hammered as investors exited tech companies after China's government summoned gaming firms.. . .  Full story

Sinovac to trial COVID-19 vaccine in South African children as part of global study

09/09 China's Sinovac Biotech will trial its COVID-19 vaccine in children and adolescents in South Africa as part of a global Phase III study, Sinovac and local partner Numolux Group said on Thursday.. . .  Full story

South African tribunal freezes funds linked to China's CRRC

09/09 A South African tribunal has frozen 4.2 billion rand ($296.84 million) linked to the local unit of CRRC Corp as investigators probe the Chinese firm's deals with state-owned logistics group Transnet.. . .  Full story

Give vaccines to Africa and ditch unproven third shot, AU says

09/09 Rich nations would do better to send vaccines to Africa to help fight the global COVID-19 pandemic rather than hoarding them for third-dose booster shots that scientific evidence does not back, the African Union's (AU). . .  Full story

South Africa's manufacturing output down 4.1% year on year in July

09/09 South Africa's manufacturing output fell 4.1% year on year in July after rising by a revised 11.9% in June, the statistics agency said on Thursday.. . .  Full story

South Africa's current account records largest surplus ever in Q2

09/09 South Africa's current account recorded its largest surplus ever in the second quarter, of 342.8 billion rand ($24.27 billion) or 5.6% of gross domestic product (GDP), central bank data showed on Thursday.. . .  Full story

South African Markets - Factors to watch on Sept 9

09/09 The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Thursday.. . .  Full story

-South African food producer Libstar's earnings hit by forex loss

08/09 South African food producer Libstar reported a 27.8% fall in half-year earnings on Wednesday hurt by unfavourable foreign currency movements and lower trading volumes.. . .  Full story

South Africa c.bank governor makes case for clearer inflation target

08/09 South Africa's central bank governor made the case on Wednesday for adopting an inflation "point target" of around 3% or 4% with a margin of error either side, as opposed to the 3% to. . .  Full story

South African state insurer in talks over larger bailout

08/09 South Africa's state-owned insurance company Sasria is in talks with National Treasury for a larger bailout than the 3.9 billion rand ($272 million) already promised, its managing director told a parliamentary committee on Wednesday.. . .  Full story

S.Africa's Telkom calls for 'fair and transparent' new spectrum auction rules

08/09 South Africa's Telkom on Wednesday called on regulator ICASA to create new spectrum licensing auction rules that were "fair and transparent", after the watchdog consented to a court order declaring the previous process flawed.. . .  Full story

South African rand drifts lower, tracking dollar moves

08/09 The South African rand drifted lower early on Wednesday, tracking the dollar, which rose to a one-week peak on higher Treasury yields.. . .  Full story

South African Markets - Factors to watch on Sept 8

08/09 The following company announcements, equity and currency market moves may affect South African markets on Wednesday.. . .  Full story