SA Business

MTN Nigeria to tap debt market in first quarter - CFO

17h31 MTN Nigeria plans to tap the debt market in the first quarter and has applied to the Nigerian Securities and Exchange Commission (SEC) for approval, its chief finance officer said on Wednesday.. . .  Full story

Kenya hails first vaccine 'bazookas', Rwanda secures Pfizer shots

17h15 Kenya received over a million doses of the AstraZeneca COVID-19 vaccine on Wednesday, while Rwanda said it was the first in Africa to secure shots from Pfizer, as efforts to inoculate the world's poorest. . .  Full story

Namibia moves to curb mining speculators, boost local ownership

16h12 Diamond and uranium producer Namibia said on Wednesday that locals who own mineral exploration licences will no longer be able to sell out to foreigners, in a move aimed at curtailing speculation in the sector.. . .  Full story

South African scientists find antibodies from variant may offer cross-protection

15h44 Research by South African scientists suggests that antibodies triggered by exposure to the country's dominant coronavirus variant can prevent infection by other variants, the scientists said on Wednesday.. . .  Full story

World Bank readies COVID-19 vaccine funds for around 30 African countries

11h21 The World Bank is preparing emergency financing to help about 30 African countries access COVID-19 vaccines, the global lender told Reuters, as the continent scrambles to secure doses and start immunising vulnerable groups.. . .  Full story

South Africa's rand slips, heavyweight miners push stocks to fresh record highs

02/03 South Africa's rand weakened on Tuesday in a broad, developing world currencies retreat against a strong U.S. dollar, while stocks hit a fresh record high as rising commodity prices lifted assets in the resource-rich region.. . .  Full story

Yields mostly lower in weekly South African government bond auction

02/03 South Africa's government sold a total of 6.6 billion rand ($438 million) of its 2026 , 2032 and 2037 bonds on Tuesday. Yields mostly fell compared with the previous. . .  Full story

South Korea shares jump after upbeat data, China down over 1%

02/03 South Korean shares stood out from Asia's emerging markets on Tuesday after its exports and factory activity data reinforced hopes of an economic recovery, while Chinese equities fell sharply over concerns around policy tightening.. . .  Full story

African Markets - Factors to watch on March 2

02/03 Three new cases of Ebola have been confirmed in eastern Democratic Republic of Congo, bringing to 11 the number of cases since authorities declared a resurgence of the virus last month.. . .  Full story

South African rand gains as global bond market calms

01/03 South Africa's rand recovered on Monday from the previous session's four-week low against the U.S. dollar as global bond markets calmed after last week's sell-off.. . .  Full story

Endeavour pivots to exploration to shake 'M&A junkie' image after deal spree

01/03 Canadian gold firm Endeavour Mining, which is preparing for a London listing late next quarter, is switching its focus to integrating new mines after a $2.7 billion acquisition spree in West Africa last year spooked. . .  Full story

S.African service provider Bidvest reports 6% half-year profit rise

01/03 South Africa's diversified service provider Bidvest Group reported a 6.1% year-on-year rise in profit for the six months that ended Dec. 31, the company said on Monday.. . .  Full story

South Africa's Absa PMI expands at faster pace in February

01/03 South Africa's seasonally-adjusted Absa Purchasing Managers' Index (PMI) expanded at a faster pace in February compared with January, supported by an increase in new sales and business activity, a survey showed on Monday.. . .  Full story

Offshore investors net sellers of South African stocks, bonds

01/03 Offshore investors sold a net of 6.79 billion rand ($453.60 million) of South African stocks last week and 13.75 billion rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story

South Africa signs J&J vaccine deal, eases restrictions

28/02 South Africa has signed an agreement with Johnson & Johnson to secure 11 million COVID-19 vaccine doses and will ease restrictions due to a decline in new cases, President Cyril Ramaphosa said on Sunday.. . .  Full story

MTN says Nigeria operating licence renewal at advanced stage

28/02 MTN Nigeria is at an advanced stage in renewing its operating spectrum and licence in Nigeria for another 10 years from September, the local unit of South Africa's MTN said on Sunday.. . .  Full story

South African mobile operator MTN eyes $65 mln deal for Syrian business

28/02 MTN Group remains committed to negotiating a $65 million sale of its 75% stake in its Syrian unit, the South African mobile operator said on Sunday, despite the business being placed under judicial guardianship last. . .  Full story

South Africa seeks to lift infrastructure investment with change to pension fund rules

27/02 South Africa's National Treasury is proposing changing rules governing pension funds to encourage investment in infrastructure projects.. . .  Full story

MTN to appeal Syrian court ruling to put its unit under judicial custody

26/02 South Africa's MTN Group said on Friday it intended to appeal a ruling from the Administrative Court of Damascus to place the company's Syrian business under judicial guardianship and was also considering other steps.. . .  Full story

Steinhoff agrees sale and lease-back of Conforama Iberia properties

26/02 South African retail group Steinhoff is to sell the properties of its European subsidiary Conforama Iberia and lease them back, it said on Friday, as part of efforts to cut debt and pay back. . .  Full story

South Africa's rand recovers after slide to three-week lows

26/02 South Africa's rand firmed on Friday in a recovery rally after a jump in U.S. treasury yields triggered a sharp slide in the previous session to a three-week low.. . .  Full story

South Africa's trade surplus narrows to $790 million in January

26/02 South Africa's trade surplus narrowed to 11.83 billion rand ($790 million) in January from a revised surplus of 33.06 billion rand in December, data from the revenue service showed on Friday.. . .  Full story

Moody's says lower deficits in S.Africa budget won't prevent debt rising

26/02 The lower deficits unveiled in South Africa's budget this week are unlikely to prevent debt from rising, ratings agency Moody's said in a research report sent to reporters on Friday, adding that downside risks. . .  Full story

South Africa's 3-month T-bill average yield dips to 3.82%

26/02 South Africa sold 815 million rand ($54.69 million) of three-month Treasury bills, less than the 1.4 billion rand on offer, at an average yield of 3.82% from 3.83% last week, central bank data. . .  Full story

Yields mostly lower at S.Africa inflation-linked bond auction

26/02 South Africa sold a total of 1.02 billion rand of 2033, 2038 and 2046 inflation-linked bonds, central bank data showed on Friday. Yields were mostly lower compared with the previous auctions.. . .  Full story

South Africa's January credit growth slows to 3.26% y/y

26/02 Growth in private sector credit in South Africa slowed to 3.26% year on year in January from 3.55% in December, central bank data showed on Friday.. . .  Full story

South African Markets - Factors to watch on Feb 26

26/02 The following company announcements, scheduled economic indicators, equity and currency market moves may affect South African markets on Friday.. . .  Full story

African Markets - Factors to watch on Feb. 26

26/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: KENYA -. . .  Full story

Crisis deepens at South Africa's Denel as board chair resigns

25/02 South African state-owned weapons manufacturer Denel said on Thursday that its board chairwoman Monhla Hlahla and another non-executive director had resigned, days after it announced the departure of several other board members.. . .  Full story

South Africa's Gold Fields gets step closer to curbing reliance on Eskom

25/02 South Africa's energy regulator on Thursday approved a power generation licence for a large solar plant at Gold Fields' South Deep mine, a long-awaited breakthrough for miners desperate to curb their reliance on ailing utility. . .  Full story

South Africa's rand retreats from post-budget rally, stocks rise

25/02 South Africa's rand fell on Thursday, giving up the previous session's gains when Finance Minister Tito Mboweni's budget speech reassured some investors the country could avoid a full-scale fiscal crisis.. . .  Full story

South Africa aims to vaccinate 1.1 mln by end of March

25/02 South Africa aims to vaccinate around 1.1 million people against COVID-19 by the end of March as it ramps up its immunisation programme, Health Minister Zweli Mkhize said on Thursday.. . .  Full story

South African medical schemes may no longer need to subsidise COVID vaccines - executives

25/02 South African medical schemes may no longer need to step in to subsidise COVID-19 vaccines for the wider population after the government allocated significant funds for the vaccine rollout, executives told Reuters on Thursday.. . .  Full story

African Union backs call to waive intellectual property rights on COVID-19 drugs

25/02 The African Union is backing calls for drugmakers to waive some intellectual property rights on COVID-19 medicines and vaccines to speed up their rollout to poor countries, the head of its disease control body said. . .  Full story

S.Africa's Woolworths expands casual wear offering after return to profit growth

25/02 South African retailer Woolworths said on Thursday it was expanding its casual and sports leisure wear ranges to reduce reliance on formal wear, after reporting a rise in half-year profit for the first time since. . .  Full story

Commodity prices boost Anglo American in 2020 after COVID-19 hit

25/02 Anglo American beat forecasts with a small fall in 2020 earnings and boosted its dividend after strong commodity prices helped the diversified miner recover from coronavirus disruptions in the first half of the year.. . .  Full story

South Africa's Implats to boost output after profit surges

25/02 South Africa's Impala Platinum (Implats) is looking to boost its output by 360,000 ounces after posting a four-fold jump in half-year profits and raising its interim dividend on the back of higher metals prices, it. . .  Full story

African Markets - Factors to watch on Feb. 25

25/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS Asian stocks. . .  Full story

Johnson & Johnson's one-dose vaccine closes in on U.S. approval

24/02 Johnson & Johnson's one-dose COVID-19 vaccine appeared safe and effective in trials, the U.S. Food and Drug Administration said Wednesday, paving the way for its approval for emergency use as soon as this week.. . .  Full story

Distell dividend on hold over South African booze ban uncertainty

24/02 South African drinks maker Distell kept dividends on hold on Wednesday despite posting an 11.2% jump in half-year profit, citing the threat of further alcohol bans in its main market.. . .  Full story

South Africa boosts vaccine spending in 'balancing act' amid debt worries

24/02 South Africa could spend up to 19.3 billion rand ($1.33 billion) over the next three years to vaccinate most of its population, the Treasury said on Wednesday, in a "difficult balancing act" meant to. . .  Full story

South Africa says still in talks with World Bank over loan

24/02 South Africa is still in talks with the World Bank over a COVID-19 related loan, Finance Minister Tito Mboweni said on Wednesday, after he said last year that his ministry was resisting any attempt. . .  Full story

African Markets - Factors to watch on Feb. 24

24/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - GLOBAL MARKETS Bond markets. . .  Full story

S.Africa says J&J, Pfizer, Moderna vaccines those for "immediate use"

23/02 South Africa's health minister said on Tuesday that government advisers had organised COVID-19 vaccines into three groups and those considered for "immediate use" were the Johnson & Johnson (J&J), Pfizer and Moderna shots.. . .  Full story

South African rand gains sharply on Fed chair comments

23/02 The South African rand gained sharply on Tuesday afternoon after Federal Reserve Chair Jerome Powell said the U.S. economy needed support for "some time," comments that hurt the dollar.. . .  Full story

S.African Uber drivers join global push for worker rights -lawyers

23/02 A group of South African Uber drivers are to go to court to seek rights including compensation for unpaid overtime and holiday pay, their lawyers said on Tuesday, hoping for a similar victory to that. . .  Full story

S.Africa's Imperial looks to Africa expansion as it prepares for European exit

23/02 South Africa's Imperial Logistics is preparing to pull out of its chiefly Europe-focused international business in favour of expansion in Ethiopia and French-speaking Africa, it said on Tuesday after reporting a drop in half-year earnings.. . .  Full story

Kumba Iron Ore pays out cash and invests in Sishen mine after strong profits

23/02 South African miner Kumba Iron Ore reported a 40% jump in annual profit on Tuesday and declared a strong dividend payout, driven by a surge in prices of the steel-making raw material and a. . .  Full story

At least two S.African banks likely to pay dividends after eases guidance - analysts

23/02 At least two of South Africa's major banks are likely to declare dividends after the central bank last week eased guidance on payouts, analysts and investors said.. . .  Full story

Arms deal corruption trial against South African ex-President Zuma to start in May

23/02 A corruption case against former South African President Jacob Zuma and French company Thales related to a $2 billion arms deal will begin on May 17, a court said on Tuesday.. . .  Full story

South Africa's unemployment rate jumps to new record high

23/02 South Africa's unemployment rate jumped to a record high in the fourth quarter of last year, the statistics agency said on Tuesday, as the economy was further battered by the COVID-19 pandemic.. . .  Full story

Sibanye-Stillwater to invest in European lithium company Keliber

23/02 Sibanye-Stillwater Ltd said on Tuesday it has agreed to invest in a European lithium company Keliber Oy, marking the South African miner's entry into battery metals sector.. . .  Full story

Zambia achieves record high copper production in 2020, minister says

23/02 Zambia produced 882,061 tonnes of copper in 2020, up 10.8% from 796,430 tonnes produced in 2019, Mines Minister Richard Musukwa said on Tuesday, calling it a "historical high" for Africa's second-largest copper producer.. . .  Full story

S.Africa's Discovery shares rise on underlying performance

23/02 Shares in South Africa's Discovery rose almost 4% on Tuesday even as it warned of an up to 15% decline in half-year profits, with investors focused more on operating performance than the negative impact. . .  Full story

South Africa's Harmony Gold first-half profit soars; reinstates dividend

23/02 South Africa's Harmony Gold posted a more than three-fold rise in first-half profit and reinstated its dividend on Tuesday, following a surge in gold prices and the inclusion of the Mponeng mine into its portfolio.. . .  Full story

African Markets - Factors to watch on Feb. 23

23/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - GLOBAL MARKETS Asian. . .  Full story

South Africa's telecoms regulator pushes back spectrum auction again

22/02 South Africa's telecoms regulator on Monday pushed back the announcement of the qualifying bidders for its long-awaited auction of new spectrum by a month to March 23, just a week before the sale had. . .  Full story

South African mall operators will continue to provide rental relief in 2021

22/02 Two of South Africa's prime commercial property owners will extend rental relief to struggling tenants this year, in a sign the impact of COVID-19 is far from over for hard-hit real estate firms although. . .  Full story

South Africa's rand slides as rising U.S. yields sour risk demand

22/02 South Africa's rand weakened on Monday with demand for risk assets dampened by rising yields in the United States and some investor caution ahead of the South African government budget this week.. . .  Full story

South Africa's Sasol abandons $2 bln rights issue on turnaround progress

22/02 South African petrochemical firm Sasol said on Monday it had decided not to pursue a rights issue of up to $2 billion after significant progress in its turnaround strategy.. . .  Full story

Amplats to raise output after high metals prices boost profit

22/02 Anglo American Platinum (Amplats) on Monday posted a price-driven jump in annual profit and set its sights on boosting output by 20% while looking to capitalises on global decarbonisation efforts.. . .  Full story

Defence firm Paramount sees African demand as threats rise

22/02 South African defence company Paramount Group is seeing demand from African states battling insurgencies and other threats such as wildlife crime, its chairman told Reuters on Monday.. . .  Full story

African Markets - Factors to watch on Feb. 22

22/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - GLOBAL MARKETS Asian. . .  Full story

S.Africa's rand falls as focus shifts to budget, Liberty Two Degrees leads stocks higher

19/02 South Africa's rand weakened on Friday afternoon in increasingly cautious trade ahead of the budget speech next week, which will give the government's outlook on the economy and public finances.. . .  Full story

Zimbabwe's monetary policy committee dissolved - central bank

19/02 Zimbabwe's central bank said on Friday its monetary policy committee had been dissolved with effect from Jan. 31 because of the appointments of most committee members to various entities that were in conflict with their. . .  Full story

South Africa advisers back Pfizer COVID-19 vaccine after study

19/02 Two of the South African government's top advisers on COVID-19 backed Pfizer's vaccine on Friday, despite a study earlier this week showing that the dominant local coronavirus variant may reduce protective antibodies it triggers.. . .  Full story

African Union says Russia offers 300 mln doses of Sputnik V vaccine

19/02 The African Union's (AU) vaccine task team said on Friday that Russia had offered it 300 million doses of its Sputnik V COVID-19 vaccine along with a financing package for countries wanting to secure. . .  Full story

S.Africa's Massmart plans further store closures, flags wider net loss this year

19/02 South African retailer Massmart said on Friday it was planning further store closures and flagged a deeper full-year net loss of more than 1.7 billion rand ($116.8 million) after curbs related to the COVID-19 pandemic. . .  Full story

South Africa's 3-month T-bill average yield rises to 3.83%

19/02 South Africa sold 1.4 billion rand ($96 million) of three-month Treasury bills, at an average yield of 3.83% from 3.81% last week, central bank data showed on Friday. The bid-to-cover. . .  Full story

Kenya's WPP Scangroup shares plunge after CEO suspension

19/02 Shares of Kenyan marketing company WPP Scangroup plunged by more than 7% on Friday, after the firm suspended its chief executive to investigate allegations of gross misconduct.. . .  Full story

Yields down at S.Africa inflation-linked bond auction

19/02 South Africa sold a total of 1.82 billion rand ($125 million) of its 2029, 2033 and 2050 inflation-linked bonds, less than the 2 billion rand on offer, central bank data showed on Friday.. . .  Full story

Discounter Pepco has all of Europe in its sights

19/02 Pepco Group, which owns British discount retailer Poundland, has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said. . .  Full story