SA Company

South African Airways to pay Comair $78 mln to settle competition case

15/02 State-run South African Airways (SAA) will pay its rival Comair 1.1 billion rand ($78 million) to settle an anti-competition case, sending shares in the local aviation company soaring.. . .  Full story

S.African rand heads for over 3 pct weekly loss on power crisis

15/02 South Africa's rand was on course for a loss of more than three percent against the dollar this week, as five consecutive days of power cuts reminded investors about the fragility of an economic. . .  Full story

Uganda deports MTN CEO over 'national security' concerns

15/02 Uganda has deported the chief executive of MTN Uganda, the largest telecoms firm in Uganda which is part of South Africa's MTN Group, over national security concerns.. . .  Full story

South Africa's Eskom suspends power cuts but warns system vulnerable

15/02 South Africa's struggling state power firm Eskom suspended electricity cuts on Friday but said the power system remained vulnerable, after five days of rolling outages which weakened the rand and hurt businesses across the country.. . .  Full story

African Markets - Factors to watch on Feb. 15

15/02 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: *NIGERIA -Statistics office. . .  Full story

South African rand tumbles as Eskom sours outlook, stocks flat

14/02 South Africa's rand weakened past 14 per dollar on Thursday as state-owned power utility Eskom imposed a fifth day of electricity blackouts that have discouraged investors over the economy, days before the annual budget.. . .  Full story

South African Markets - Factors to watch on Feb. 14

14/02 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.. . .  Full story

Eskom in danger of collapse without bailout, South Africa says

13/02 South African power utility Eskom needs a cash injection by April to survive, the country's public enterprises ministry warned in a presentation on Wednesday, although it later changed its wording to say the firm was. . .  Full story

South African rand slumps on Eskom fears, U.S. inflation

13/02 South Africa's rand sank more than 1 percent on Wednesday as concerns over state power firm Eskom were compounded by a firming dollar after a measure of U.S. inflation came in stronger than expected.. . .  Full story

First unit at Sasol's Lake Charles chemical plant starts output

13/02 Sasol on Wednesday began production at the first of seven units at its giant Lake Charles chemical plant in the U.S, boosting shares in the South African petrochemical group.. . .  Full story

South Africa's Vodacom, Telkom welcome ECA bill withdrawal

13/02 South African mobile network operators Vodacom and Telkom on Wednesday welcomed a government decision to withdraw a bill, which proposed taking back licensed spectrum from operators and forcing them to share a national network.. . .  Full story

UK's New Look year to date revenue down 5 pct

13/02 British fashion chain New Look on Wednesday reported a 5 percent fall in revenue for the first three quarters of its 2018-19 financial year, though it said its underlying sales performance was on an. . .  Full story

South African Markets - Factors to watch on Feb. 13

13/02 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 Eskom extends power cuts as crisis persists

12/02 South African power utility Eskom implemented major electricity cuts for a third straight day on Tuesday, as a shortage of generating capacity exposed the frailty of the struggling state-owned firm despite government promises to revive. . .  Full story

Harmony Gold in talks to build solar power plant

12/02 South African miner Harmony Gold is in talks to build a 30 megawatt solar power plant in the Free State province to supply power to some of its operations to try to reduce power. . .  Full story

South Africa's SPAR Group posts 8.2 pct rise in 17-week sales

12/02 South African retailer and wholesaler SPAR Group Ltd on Tuesday reported an 8.2 percent increase in 17-week sales, buoyed by its Southern Africa operations.. . .  Full story

South African rand hits near 3-week low as Eskom steps up blackouts

11/02 South Africa's rand fell to its weakest in almost three weeks on Monday as state electricity firm Eskom stepped up controlled power cuts because of a shortage of generating capacity.. . .  Full story

Rand regains some ground as dollar rally fades

08/02 South Africa's rand recovered on Friday, tracking peers like the Turkish lira and Russian rouble as the dollar weakened and investors looked to profit on the greenback's recent rally.. . .  Full story

S.Africa's Harmony Gold expects drop in half-year earnings per share

08/02 South Africa's Harmony Gold said on Friday its earnings per share for the first half of the year could be up to 97 percent lower than this time last year.. . .  Full story

South African Markets - Factors to watch on Feb. 8

08/02 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 markets on knife edge ahead of Ramaphosa address

07/02 South Africa's rand weakened on Thursday against a broadly stronger dollar as investors prepared for President Cyril Ramaphosa's state of the nation address (SONA) later in the day.. . .  Full story

Brimstone reviewing buyout offer for S.Africa's Clover

07/02 South Africa's Brimstone Investment Corporation said it is reviewing its role in a proposed 4.8 billion rand ($353.38 million) buyout of dairy firm Clover Industries, after opposition from an anti-Israel boycott and divestment group.. . .  Full story

WeWork picks South Africa for first African foray

07/02 U.S. shared workspace provider WeWork plans to launch in South African later this year, it said on Thursday, a move that would mark the first African expansion for the $47 billion New York-based company.. . .  Full story

South African dairy firm Clover shares fall as buyout offer thrown into doubt

07/02 Shares in South African dairy firm Clover fell 3.7 percent on Thursday after Brimstone Investment Corporation said it would review its role in a potential buyout of the company.. . .  Full story

Nigerian court adjourns MTN case until Mar. 26

07/02 A judge has adjourned a Lagos court case between South African telecoms firm MTN Group and Nigeria's attorney general over a $2 billion tax demand until Mar. 26, the court said on Thursday.. . .  Full story

South African Markets - Factors to watch on Feb. 7

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

South African rand falls on firm dollar, stocks up

06/02 South Africa's rand fell on Wednesday, in line with broad weakness in emerging market currencies, as the dollar settled near a two-week high after U.S. President Donald Trump's State of the Union speech failed to. . .  Full story

South African Markets - Factors to watch on Feb. 6

06/02 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

South African rand steady before Trump State of the Union address, stocks up

05/02 South Africa's rand steadied against the dollar in late afternoon trade on Tuesday as traders awaited U.S. President Donald Trump's State of the Union address which could hint at progress in U.S.-China trade talks.. . .  Full story

South African Markets - Factors to watch on Feb. 5

05/02 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 rand edges weaker, stocks down

04/02 South Africa's rand eased on Monday as a strong dollar and U.S. Treasury yields holding recent gains put pressure on emerging market currencies, while stocks also edged lower.. . .  Full story

South Africa's MTN expects 20 percent boost to 2018 earnings per share

04/02 South African telecoms giant MTN said on Monday it expected to see a 20 percent improvement in earnings per share last year compared with 2017.. . .  Full story

Brimstone Buys 15 Pct Indirect Interest In Clover Industries

04/02 Brimstone Investment Corporation Ltd :. . .  Full story

South African Markets - Factors to watch on Feb. 4

04/02 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

Goldman Sachs invests in HSBC-backed fintech app Bud

04/02 Goldman Sachs is among the investors in a $20 million fundraising for financial technology firm Bud, the two companies said on Monday, the latest in a series of investments by big global banks seeking. . .  Full story

Board of South African state pension fund resigns as scandal deepens

01/02 The board of South Africa's state-owned state pension fund resigned on Friday, citing destabilising allegations of wrongdoing against four directors, as the crisis at the biggest investor in Africa's most industrialised economy deepens.. . .  Full story

South African rand backtracks after Fed surge, stocks down

01/02 The South African rand weakened on Friday, retreating from a near six-month high, as weak economic data at home and shrinking factory activity in China dampened risk demand.. . .  Full story

South African Markets - Factors to watch on Feb. 1

01/02 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

Hudaco Industries FY HEPS Of 1 289 Cents

31/01 Hudaco Industries Ltd:. . .  Full story

South African rand climbs to five-month high on dovish Fed

31/01 South Africa's rand gained to its highest in nearly six months on Thursday as the United States central bank kept lending rates unchanged and hinted it would hold off on cutting interest rates, fuelling. . .  Full story

South Africa's Edcon needs $226 mln capital injection over three years -CEO

31/01 South African retailer Edcon needs 3 billion rand ($226 million) in financing over the next three years to allow it time to "fix" the business, its chief executive Grant Pattison said on Thursday.. . .  Full story

S.Africa's Vodacom faces protests over call-back service compensation

31/01 A settlement offered by South African mobile telecoms provider Vodacom to a former employee drew tens of protesters on Thursday calling for a better deal.. . .  Full story

S.Africa's Exxaro aims to double coal exports through Richard's Bay by 2023

31/01 South African coal miner Exxaro aims to double its coal exports through the Richard's Bay export terminal by 2023, from 8 million tonnes a year at present, Nombasa Tsengwa, executive head of Exxaro's coal operations,. . .  Full story

South Africa's deputy finance minister denies corruption allegations

30/01 South Africa's deputy minister of finance and chairman of the state-owned Public Investment Corporation (PIC), Mondli Gungubele, said on Wednesday he had done nothing wrong after a whistleblower made new graft allegations at the pension. . .  Full story

South African rand steady before Fed's policy decision, stocks down

30/01 South Africa's rand steadied against the dollar on Wednesday as investors awaited the Federal Reserve's policy decision and U.S.-China trade talks later in the day.. . .  Full story

South African franchise restaurant chain Spur lifts H1 sales

30/01 South Africa's Spur Corporation reported a 6.5 percent increase in half-year restaurant sales on Wednesday, largely on the back of a strong performance in the up-market franchise Hussar Grill steak restaurant.. . .  Full story

South Africa largest labour union plans nationwide strike over mass layoffs

30/01 South Africa's largest labour union group, with more than a million and a half members, said on Wednesday it would stage a nationwide strike on Feb. 13 over large-scale layoffs at ailing state-owned firms. . .  Full story

South African miners want restructuring of power firm Eskom

30/01 South African miners support a restructuring of struggling state power firm Eskom to boost competition in the electricity supply industry, an industry body said on Wednesday, warning that tariff hikes alone would not solve Eskom's. . .  Full story

Shares in S.Africa's Shoprite dive after profit warning

30/01 South African retailer Shoprite looked set for its biggest fall in almost 20 years on Wednesday after it warned of a steep drop in half-year headline earnings citing foreign exchange setbacks and other factors.. . .  Full story

South African Markets - Factors to watch on Jan. 30

30/01 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 weakens in cautious trade, stocks down

28/01 South Africa's rand weakened against the dollar on Monday, before a week packed with market-moving events.. . .  Full story

South African Markets - Factors to watch on January 28

28/01 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

South African rand firms, banks top blue-chip index

25/01 South Africa's rand firmed against the dollar on Friday, supported by a pick up in risk-taking, while banks topped the blue-chip index after Morgan Stanley raised their target prices.. . .  Full story

Naspers nears full control of Russian classified platform Avito -sources

25/01 South African media and e-commerce group Naspers is nearing a deal to take full control of Russia's largest generalist classifieds platform Avito by buying the remaining 32 percent it does not already own, sources told. . .  Full story

South African Markets - Factors to watch on Jan 25

25/01 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 firms; Vodacom slumps on revenue slowdown

24/01 South Africa's rand rose to a near one-week high against the dollar on Thursday as risk-taking crept back into markets, while a slump in mobile operator Vodacom's shares dragged the bourse lower.. . .  Full story

Boss of S.Africa's Absa bank rules out Nigerian acquisition

24/01 South African lender Absa will not buy a Nigerian bank, its CEO told Reuters on the sidelines of the World Economic Forum in Davos, clearing up a lingering question over how it will execute. . .  Full story

Ugandan leader wants MTN to list shares on local exchange

24/01 Ugandan President Yoweri Museveni said telecom firm MTN Uganda needs to sell shares on the local stock exchange to facilitate domestic ownership of the company and ensure more of the money it earns stays. . .  Full story

South African rand flat; Vodacom slumps on revenue slowdown

24/01 South Africa's rand was flat early on Thursday, while a 7 percent fall in mobile operator Vodacom's shares dragged the Johannesburg bourse lower.. . .  Full story

South African Markets - Factors to watch on Jan 23

23/01 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 Gold Fields denies rumours of merger with AngloGold

22/01 South Africa's Gold Fields said on Tuesday that rumours it was looking to merge with rival bullion firm AngloGold Ashanti were "absolutely false" after shares of both companies firmed on speculation of a merger.. . .  Full story

South Africa's Massmart hit by lower sales, earnings warning

22/01 Shares in Massmart Holdings Ltd fell more than 21 percent on Tuesday after the South African retailer posted lower-than-expected full-year sales and said it expected its headline earnings to drop by up to 44 percent.. . .  Full story

MTN has paid $53 mln to settle Nigeria dispute -central bank

22/01 South Africa's MTN has paid $53 million to settle a money transfer dispute with Nigeria's central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday.. . .  Full story

Promotions lift South Africa's Clicks 20-week sales

22/01 South Africa's retail pharmacy group Clicks reported a 7.8 percent increase in 20-week sales on Tuesday as health and beauty products appealed to thrifty consumers in a deteriorating consumer spending environment.. . .  Full story

S.African strike and Angola stifle Shoprite sales, shares fall

22/01 Supermarket operator and furniture retailer Shoprite reported flat half-year sales on Tuesday, held back by a strike at its largest distribution centre in South Africa and sharp currency devaluations elsewhere in Africa.. . .  Full story

South African Markets - Factors to watch on Jan 22

22/01 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

S.Africa's Multichoice plans inaugural dividend of $181 million

21/01 Africa's biggest pay-TV business Multichoice intends to pay a 2.5 billion rand ($181 million) dividend in 2020 after it has been unbundled from its parent, Naspers, its chief financial officer said on Monday.. . .  Full story

South African rand retreats, Naspers lifts stocks

21/01 South Africa's rand eased on Monday as the dollar neared a two-week high, while Naspers boosted stocks on expectations of positive news about the spin-off of its pay-TV business, which duly emerged after the market. . .  Full story

S.Africa's Naspers given green light to list pay-TV business

21/01 South African media and e-commerce group Naspers has had its plan to spin-off and list Multichoice, Africa's biggest pay-TV business by subscribers, conditionally approved by the Johannesburg Stock Exchange, the company said on Monday.. . .  Full story

S.Africa's Shoprite to appeal $1.4 million competition fine

21/01 South Africa's Shoprite said on Monday it would appeal against a 20 million rand ($1.4 million) fine handed to its ticket-selling subsidiary by the country's Competition Tribunal, which found agreements signed by the firm had. . .  Full story

South African rand weaker on less hawkish c.bank stance

18/01 South Africa's rand was weaker on Friday, a day after the central bank adopted a less hawkish tone at its monetary policy meeting.. . .  Full story

Saudi Arabia plans oil refinery, petchem plant in South Africa

18/01 Saudi Arabia plans to build an oil refinery and petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid al-Falih said on Friday after talks. . .  Full story

Holiday sales help South Africa's TFG buck retail weakness

17/01 South Africa's TFG (The Foschini Group) said Black Friday sales and good trade across its business in December helped fuel nine-month turnover growth of 22.7 percent, providing some cheer for the retail sector after grim. . .  Full story

South African rand falls after rate decision; stocks down

17/01 South Africa's rand fell against the dollar on Thursday after the central bank left interest rates unchanged and sounded less hawkish, citing an improved inflation outlook.. . .  Full story

Budget retailer Mr Price hit by slowdown in South Africa

17/01 Shares in South African budget clothing and furniture retailer, Mr Price Group Ltd , tumbled on Thursday after it reported a sharp slowdown in sales growth and warned of a challenging final quarter.. . .  Full story

South Africa's Woolworths hit by sluggish sales, earnings warning

17/01 Shares in Woolworths fell more than 8 percent on Thursday after the South African department store operator posted slower half-year sales growth and said it expected its headline earnings to drop by 5 percent in. . .  Full story

South Africa's rand, stocks lifted by strong retail data

16/01 South Africa's rand and local stocks strengthened on Wednesday as retail sales rose more than expected, helping ease concerns over dismal mining data a day earlier.. . .  Full story

South African rand slips after dismal mining data

15/01 The South African rand fell on Tuesday, after worse-than-expected mining data pointed to lingering weakness in Africa's most industrialised economy.. . .  Full story

South African rand treads water; Brait sends stocks lower

14/01 The South African rand was little changed on Monday as investors awaited closely watched data releases including mining output later in the week, while a plunge in investment firm Brait sent stocks lower.. . .  Full story