SA Company

South Africa's rand firms on weaker dollar after Fed chair speech

23/08 South Africa’s rand firmed to a two-week high on Friday as the dollar slipped after U.S. Federal Reserve Chair Jerome Powell set the stage for further interest rate cuts.. . .  Full story

South Africa to roll out sweeping health reform in stages

23/08 A proposed move to universal health coverage in South Africa will be rolled out in stages as the budget improves, a senior presidential aide told Reuters, forecasting the landmark reform would cost $2.2 billion. . .  Full story

Grindrod HY HEPS Of 20.1 Cents

23/08 Grindrod Ltd:. . .  Full story

South African Markets - Factors to watch on Aug. 23

23/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

S.African rand gains fade as investors left on edge over Fed

22/08 South Africa's rand was flat on Thursday, as a boost from lower-than-expected local inflation was overshadowed by worries that further U.S. Federal Reserve easing might take longer than expected.. . .  Full story

Budget retailer Mr Price shares tumble 11% after poor sales

22/08 Shares in South African budget clothing and furniture retailer Mr Price tumbled on Thursday after the firm reported a slowdown in sales in the first four months of its financial year, citing a slow. . .  Full story

South Africa's Exxaro buoyed by equity investments as core profit falls

22/08 South African miner Exxaro Resources on Thursday reported a 42% rise in half-year headline profit as income from equity investments offset lower core earnings.. . .  Full story

S.Africa's Omnia CEO resigns, finance director appointed as replacement

21/08 South African chemicals and fertiliser maker Omnia Holdings said on Wednesday its chief executive officer Adriaan de Lange has resigned and will be replaced by the current group finance director.. . .  Full story

S.African rand rallies after data shows slowing inflation, stocks up

21/08 South Africa's rand rallied more than 1% to its firmest in nearly a week on Wednesday on optimism the central bank has room to boost the flagging economy after consumer inflation fell more than. . .  Full story

South African Markets - Factors to watch on August 21

21/08 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 pauses recent slide, stocks down

20/08 South Africa's rand firmed on Tuesday, pulling back from an 11-month low as long dollar investors took profits and awaited further clues on the outlook for the global and local economy.. . .  Full story

S.Africa's KAP Industrial Holdings posts 25% fall in annual profit

20/08 South Africa's KAP Industrial Holdings on Tuesday reported a 25% fall in full-year profit citing the impact of an accounting change on a black economic empowerment transaction.. . .  Full story

Shoprite misses forecasts despite stronger home market

20/08 Shoprite Holdings missed full-year earnings forecasts on Tuesday, hit by inventory shortages in South Africa and currency devaluations in the rest of Africa, which overshadowed an improved second half in its home market.. . .  Full story

South Africa's rand pauses recent slide as investors await next trigger event

20/08 South Africa's rand firmed early on Tuesday, pulling back from an 11-month low as long dollar investors took some profits and awaited further clues on the outlook for the global and local economy.. . .  Full story

Annual earnings at South Africa's Shoprite miss estimates

20/08 South Africa's supermarket chain Shoprite Holdings reported lower-than-expected full-year earnings on Tuesday as inventory shortages at home and currency devaluations in the rest of Africa weighed on profit.. . .  Full story

S.Africa's Harmony Gold eyes potential in AngloGold Ashanti assets

20/08 South Africa's Harmony Gold is interested in many projects including AngloGold Ashanti's Mponeng operations, CEO Peter Steenkamp said on Tuesday.. . .  Full story

South African Markets - Factors to watch on Aug. 20

20/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday.. . .  Full story

Russia's Norilsk and S.African coal town Kriel top SO2 emissions hot spots -NASA data

19/08 Russia's Norilsk smelter complex and a town in South Africa's eastern coal mining province have the highest sulphur dioxide (SO2) emissions in the world, according to satellite data from U.S. space agency NASA.. . .  Full story

South Africa's rand falls as investors weigh local, global risks

19/08 South Africa's rand weakened on Monday as traders and investors continued to weigh heightened global growth risks against local uncertainty, while equities rose in line with global stock markets.. . .  Full story

South Africa's rand firms, stocks flat

16/08 South Africa's rand firmed on Friday, adding to the previous session's gains as hopes of further stimulus in China helped developing world currencies hold their ground against the dollar.. . .  Full story

South Africa's Sasol delays results due to U.S. project glitch

16/08 Sasol Ltd delayed the release of its annual financial results on Friday due to possible "control weaknesses" at its U.S. ethane cracker project, sending shares in the chemicals and energy company down by more than. . .  Full story

Truworths: Hits 9-year low after FY profit tumbles

16/08 hares of South African fashion retailer Truworths are down 6.37% at 54.21 rand at 1118 GMT. . .  Full story

South Africa's rand firms as investors await next bout of weakness

16/08 South Africa's rand was firmer early on Friday, adding to the previous session's gains in a recovery driven mainly by investors covering their short positions in anticipation of sharper falls as local and global growth. . .  Full story

South African Markets - Factors to watch on August 16

16/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

Truworths looks to close loss-making stores of UK-based Office chain

15/08 South Africa's Truworths International Ltd is considering closing loss-making stores of its UK-based shoe chain Office, joining the growing ranks of retailers to be hit by Britain's gloomy trading environment.. . .  Full story

South African rand bounces back after steep sell-off

15/08 The South African rand gained more than 1 percent against the dollar on Thursday, pulling back from a steep sell-off as worries about the global economy eased slightly.. . .  Full story

South African retailer TFG to review Kenya, Ghana stores

15/08 South African fashion retailer TFG will decide next year whether to continue trading in Kenya and Ghana where it has at least six stores in each market, Chief Executive Officer Anthony Thunstrom said on Thursday.. . .  Full story

Truworths annual profit tumbles on Office writedown

15/08 Clothing retailer Truworths International Ltd on Thursday reported a 57.5% fall in full-year profit before tax due to the 97 million pound ($117.44 million) impairment charge related to its Office shoe chain in Britain.. . .  Full story

South Africa's Harmony Gold expects higher annual profit

15/08 South African bullion producer Harmony Gold full-year profits are expected to rise by as much as 32% boosted by increased production and profit from its from Moab Khotsong and Hidden Valley operations and lower impairments.. . .  Full story

Implats expects annual profit helped by metals prices

15/08 South Africa's Impala Platinum (Implats) said on Thursday it expects to swing into profit this year boosted by higher sales, rhodium and palladium prices and improved performance at its Rustenburg operations.. . .  Full story

South African rand and shares bounce from sharp losses

15/08 The South African rand firmed early on Thursday, pulling back from a slide to its lowest in nearly 11 months as investors digested signs of global economic recession and looked to buy the currency. . .  Full story

South Africa's Gold Fields swings to first-half profit

15/08 South African bullion producer Gold Fields swung to a profit in the first half through June as output increased after the inclusion of its joint venture with Asanko Gold.. . .  Full story

South African Markets - Factors to watch on August 15

15/08 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 stocks approach six months low as recession fears rise

14/08 South African stocks slipped to a near six-month low on Wednesday after the U.S. Treasury bond yield curve inverted for the first time since 2007, reflecting concerns over the outlook for the world's biggest economy.. . .  Full story

S.African education firm Curro to invest $14 mln in 4 new campuses

14/08 South African private education firm Curro Holdings will invest 223 million rand ($14.66 million) in opening four new campuses, it said on Wednesday, after reporting a 44% rise in half-year headline earnings.. . .  Full story

South Africa's Astral Foods CEO to take extended leave after surgery

14/08 South African poultry producer Astral Foods on Wednesday said its CEO will take extended leave to recuperate after cardiovascular surgery.. . .  Full story

Aspen: Plunges as $9.65 mln fine adds to debt concerns

14/08 hares of South African pharma group Aspen Pharmacare slide 6.28% to 69.83 rand. . .  Full story

South Africa's rand rises before release of retail sales data

14/08 South Africa's rand gained on Wednesday, helped by momentum from the previous session after the United States said it would delay some tariffs on China.. . .  Full story

South African Markets - Factors to watch on August 14

14/08 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 firms on easing trade tensions, stocks down

13/08 South Africa's rand firmed on Tuesday, helped by improved risk appetite on signs of easing trade friction after the United States said it would delay tariffs on some Chinese products and both sides agreed. . .  Full story

South Africa's AMCU union disappointed by Lonmin wage offer

13/08 South Africa's Association of Mineworkers and Construction Union (AMCU) is disappointed by a wage offer for workers at Lonmin, which was acquired by Sibanye-Stillwater this year.. . .  Full story

Absa's profit rise clouded by mixed results underneath

13/08 A drop in earnings at Absa's South African corporate and investment bank took the shine off progress at its core domestic retail business as the lender reported a 5% rise in first-half profit on. . .  Full story

South Africa's rand slips to new 11-month worst as local politics weigh

12/08 South Africa's rand weakened on Monday, stretching losses to a new 11-month low as political uncertainty and a bleak economic outlook was worsened by uncertainty over the chances of a resolution to the trade standoff. . .  Full story

S.Africa's Northam Platinum expects FY profits to rise by over 100%

12/08 South Africa's Northam Platinum said on Monday it expected its full-year profits to be over 100% higher than in 2018 after achieving record production and operating profit.. . .  Full story

Murray & Roberts says Clough USA unit awarded $620 mln EPC project

12/08 Clough USA has been awarded a petrochemical engineering, procurement and construction (EPC) project in the United States worth $620 million, South African parent firm Murray & Roberts said on Monday.. . .  Full story

South Africa's Omnia prices $130 mln rights issue

12/08 South African chemicals and fertiliser maker Omnia Holdings priced its 2 billion rand ($130 million) rights issue at 20 rand per share on Monday.. . .  Full story

South Africa's rand hits new 11-month low, stocks firm

08/08 South Africa's rand steadied in late trade on Thursday, after slipping to a new 11-month low in the session as concerns about the outlook for domestic growth and fears over a sovereign credit rating. . .  Full story

S Africa puts initial universal healthcare cost at $17 bln

08/08 South Africa published its draft National Health Insurance (NHI) bill on Thursday, with one senior official estimating universal healthcare for millions of poorer citizens would cost about 256 billion rand ($16.89 billion) to implement by. . .  Full story

African telecoms group MTN says divestment plan on track after first-half sales

08/08 MTN Group Ltd is on track to meet a divestment target set in March after raising $140 million from asset sales that will slim down Africa's largest mobile phone operator and refocus it on. . .  Full story

South Africa's Standard Bank eyes new African markets

08/08 South Africa's Standard Bank the bank could look at entering new markets in Africa, Chief Executive Sim Tshabalala said on Thursday, as the bank's focus on the continent continues to pay off.. . .  Full story

South Africa's rand drops to 11-month low as growth outlook darkens

07/08 South Africa's rand fell to touch an 11-month low on Wednesday, rocked by deepening concerns about the outlook for domestic growth against a backdrop of uncertainty for emerging markets more broadly.. . .  Full story

Craigie Stevenson appointed permanent CEO of Cell C

07/08 South Africa's Blue Label Telecoms said on Wednesday Douglas Craigie Stevenson had been appointed permanent CEO of mobile carrier Cell C, citing its improved finances since he took the position on an interim basis.. . .  Full story

South African Markets - Factors to watch on August 7

07/08 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 hits 2-month low after Moody's comments on Eskom

06/08 South Africa's rand weakened to two-month lows in late afternoon trade on Tuesday, giving up gains earlier in the session, after ratings agency Moody's said power utility Eskom urgently needs a turnaround plan as. . .  Full story

Uganda's Stanbic says pretax up 37% as credit demand grows

06/08 Uganda's largest bank Stanbic posted a 37.5% jump in profit before tax for the first half of the year, driven by a surge in credit growth on the back of a strong economy.. . .  Full story

South Africa's rand hits 7-week low as trade tensions heat up

05/08 South Africa's rand slipped to seven-week lows against the dollar on Monday, as prospects of a sharp escalation in the U.S.-China trade war turned investors risk-averse.. . .  Full story

South African Markets - Factors to watch on August 5

05/08 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 stocks dragged to near 2-month low by trade war woes

02/08 South African stocks slipped to a near two-month low on Friday as risk aversion swept across financial markets on resurgent U.S.-China trade tensions, while the rand also weakened.. . .  Full story

MTN Nigeria asks tribunal to rule on tax treatment of $1 bln fine

02/08 MTN Nigeria has asked a Nigerian tax tribunal to rule on whether the company should pay corporate tax on a 330 billion naira ($1.1 billion) fine, a spokesman for the telecoms company said.. . .  Full story

MTN asks Nigerian tribunal to rule on tax treatment of $1 bln fine

02/08 MTN Nigeria has asked a tax tribunal to decide whether it should pay corporate tax to the Nigerian government on a 330 billion naira ($1.1 billion) fine or be allowed to treat it as. . .  Full story

South African sugar producer Tongaat to delist from LSE

02/08 South African sugar producer Tongaat Hulett will delist its shares from the London Stock Exchange to cut costs and streamline its shareholding structure amid low trading volumes in the London-listed stock, the company said on. . .  Full story

South Africa's Gold Fields flags lower H1 earnings

02/08 South Africa's Gold Fields Ltd expects interim earnings to have fallen by as much as 15% despite an increase in metal output after the inclusion of its joint venture with Asanko Gold, it said. . .  Full story

Fashion retailer Truworths forecasts lower annual core earnings

01/08 Clothing retailer Truworths International Ltd on Thursday forecast lower annual core earnings and took a 97 million pound ($117.81 million) impairment charge related to its Office shoe chain in Britain.. . .  Full story

S.Africa's rand slides as lengthy Fed easing ruled out, stocks rise

01/08 South Africa's rand weakened on Thursday along with other emerging market currencies, a day after the U.S. central bank cut lending rates but ruled out a long rate-cutting campaign.. . .  Full story

S.Africa's Sappi buys Canadian paper mill, Q3 profit falls

01/08 South African paper and pulp maker Sappi said on Thursday its Canadian division was buying Matane hardwood pulp mill in Canada to increase pulp integration and cut costs after reporting a 84% decline in profit. . .  Full story

Woolworths sees 2019 profit hit as writes down Australian unit

01/08 South Africa's Woolworths Holdings expects full year earnings to decline as it again wrote down the value of its David Jones business due to structural changes that have hurt the Australian retail sector.. . .  Full story

South African Sappi's third quarter profit falls 84%

01/08 South African paper and pulp maker Sappi said on Thursday that profit for the third quarter fell 84%, citing challenging market conditions and lower demand for some paper products.. . .  Full story

ArcelorMittal South Africa to buy steel manufacturer, swings into H1 loss

01/08 ArcelorMittal's South Africa business has agreed to buy steelmaker Highveld Structural Mill (HSM) for 300 million rand ($20.9 million), it said on Thursday, as it seeks to expand its manufacturing capabilities.. . .  Full story

Impala Platinum Says New 64.2 Mln Ordinary Shares Issued

01/08 Impala Platinum Holdings Ltd:. . .  Full story

S.Africa's rand slides after U.S. Fed dashes expectations of deeper rate cuts

01/08 South Africa's rand retreated early on Thursday along with other emerging markets currencies, a day after the U.S. Federal Reserve cut lending rates but ruled out an extended cutting cycle.. . .  Full story

S.Africa's Woolworths sees profit down as much as 5% in 2019

01/08 South Africa's Woolworths Holdings reported on Thursday that it expects earnings to fall as much as 5% this year due to further impairments on its David Jones department store business.. . .  Full story

South African Markets - Factors to watch on August 1

01/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday.. . .  Full story

South Africa's Woolworths pulls plug on Ghana

31/07 South African department chain Woolworths has pulled the plug on its Ghanaian business after closing its two stores there, in a second retreat from West Africa.. . .  Full story

South Africa's rand steadies as markets await Fed verdict

31/07 South Africa's rand steadied against the dollar in late trade on Wednesday, as investors awaited a likely cut in interest rates by the U.S. Federal Reserve, shifting the spotlight away from domestic economic troubles.. . .  Full story

AngloGold Ashanti flags higher H1 earnings, says asset sales are proceeding

31/07 South Africa's AngloGold Ashanti Ltd said on Wednesday its earnings likely rose as much as 29% in the first half, boosted by income from a legal settlement, gains from its Kibali joint venture and. . .  Full story

South Africa's Pick n Pay appoints insider Olivier as new CFO

31/07 South African supermarket chain Pick n Pay Stores Ltd has appointed senior executive Lerena Olivier as chief finance officer with effect from Sept. 6, it said on Wednesday.. . .  Full story

Massmart shares hit 13-year low after warns of loss

30/07 Massmart has warned it expects to make a loss in the first half of the year as a result of softer than expected sales, margin weakness and higher expenses, sending its shares to a. . .  Full story

South Africa's rand steadies, stocks down

30/07 South Africa's rand steadied on Tuesday as traders, eschewing big transactions despite poor unemployment figures and a warning of another loss from power utility Eskom, stayed on the sidelines ahead of a U.S. monetary policy. . .  Full story

South African bourse CEO to retire after eight years at the helm

30/07 The chief executive of Johannesburg stock exchange JSE Ltd, Nicky Newton-King, will retire at the end of September after eight years at the helm of Africa's biggest securities exchange, the bourse said on Tuesday.. . .  Full story

South Africa's Shoprite shares surge on improved H2 sales

30/07 Shares in Shoprite Holdings surged 15% on Tuesday after Africa's largest supermarket chain forecast an improved second half on solid sales in its South African home market though it warned annual earnings were set to. . .  Full story

South Africa's Shoprite warns of lower annual earnings

30/07 Africa's biggest supermarket chain Shoprite Holdings on Tuesday warned that full-year earnings are set to fall as much as 20% as forex shortages, local currency weakness and profitability outside its home market weigh on profit.. . .  Full story

South Africa's rand regains ground; Eskom bonds fall

29/07 South Africa's rand bounced back from a four-week low against the dollar on Monday, but pessimism around Eskom remained as the struggling power group failed to dispel investor worries with the appointment of an interim. . .  Full story

UK's Just Eat in talks with Takeaway.com about 9 bln pound merger

27/07 Britain's Just Eat is in talks with food delivery company Takeaway.com NV about a 9 billion pound ($11 billion) merger, Sky news reported on Saturday.. . .  Full story

Johannesburg court approves $353 mln silicosis settlement

26/07 A Johannesburg High Court on Friday approved a 5 billion rand ($353 million) class action settlement between gold mining companies and law firms representing thousands of miners who contracted the fatal lung diseases silicosis and. . .  Full story

China's CNOOC says it aims to take a stake in Ugandan oil pipeline

26/07 Chinese oil firm China National Offshore Oil Corporation (CNOOC) aims to take a stake in an oil pipeline being developed to export Ugandan crude, the firm said on Friday.. . .  Full story

Former banker appointed head of South Africa's scandal-hit state pension fund

25/07 Former Nedbank chairman Reuel Khoza has been appointed to head South Africa's 2 trillion rand ($141 billion) Public Investment Corporation (PIC) in an effort to restore the scandal-plagued pension fund's reputation. Khoza replaces South Africa's former. . .  Full story