SA Business

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

South Africa's Tongaat postpones full-year results, mulls measures to cut debt

07/10 South Africa's Tongaat Hulett, which has been battling to restore investors' confidence after announcing in April it would have to restate prior financial reports, has postponed its results statement for the latest full year, it. . .  Full story

South Africa's Tongaat mulls sale of assets, rights issue

07/10 South African sugar producer Tongaat Hulett said on Monday it is considering the possible sale of assets, a possible equity capital raise or a combination thereof in order to reduce the. . .  Full story

Exxon will not take final decision on Mozambique LNG project this week

07/10 Exxon Mobil will stop short of taking a final investment decision (FID) on its massive $30 billion liquefied natural gas (LNG) project in Mozambique when it attends an event there on Tuesday, a source familiar. . .  Full story

Offshore investors net sellers of South African stocks, buy bonds

07/10 Offshore investors sold a net of 11.80 billion rand ($778 million) of South African stocks last week and bought 1.03 billion rand in bonds, data from the Johannesburg Stock Exchange showed on Monday. STOCKS. . .  Full story

South Africa's net foreign reserves fall to $44.058 bln in September

07/10 South Africa's net foreign reserves fell to $44.058 billion in September from $44.226 billion in August, Reserve Bank data on Monday.. . .  Full story

South African rand steady, focus on Sino-U.S. trade talks

07/10 South Africa's rand was steady in early trade on Monday, as investors waited for the U.S.-China talks due to start this week to see if the world's two top economies can. . .  Full story

South Africa's rand ends week on stronger footing

04/10 South Africa's rand rose on Friday, lifted by improved appetite for riskier currencies amid steady U.S. jobs growth.. . .  Full story

Uganda licenses two new commercial banks in crowded market

04/10 Uganda's central bank has licensed two new banks, bringing the total number of commercial lenders serving the East African country's small economy to 26.. . .  Full story

Emerging market currency rallies to remain checked by erratic sentiment

04/10 Sentiment for emerging market currencies this year will continue to jump when there is positive U.S.-China trade war news, but risks such as South Africa's debt problems and Turkish confidence will. . .  Full story

South Africa's 3-month T-bill average yield steady at 6.85%

04/10 South Africa sold 1.914 billion rand ($126.27 million) of three-month Treasury bills, at an average yield of 6.85%, unchanged from last week, central bank data showed on Friday. The bid-to-cover. . .  Full story

South African defence group Denel reports $125 mln loss

04/10 South Africa's struggling state-owned defence company, which had to be bailed out by the government last August, suffered an operating loss of 1.9 billion rand ($125 million) for the year to. . .  Full story

South Africa's rand steady as focus shifts to U.S. data

04/10 South Africa's rand was stable in early trade on Friday as investors awaited direction from U.S. non-farm payrolls data out later in the day.. . .  Full story

African Markets - Factors to watch on Oct. 4

04/10 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - EVENTS: GLOBAL MARKETS Asian. . .  Full story

South Africa's rand firms as dollar, stocks fall

03/10 South Africa's rand firmed on Thursday thanks to a weaker dollar, as investors fretted that weakness in the U.S. manufacturing and service sectors could herald a slowdown in the world's largest economy.. . .  Full story

South Africa, Nigeria mend relations and agree trade deals

03/10 South Africa and Nigeria signed 30 trade and cooperation agreements on Thursday, weeks after a wave of violence against Nigerian nationals in Johannesburg and Pretoria had strained relations between Africa's top two economies.. . .  Full story

S.African govt in talks with coal miners to cut prices for cash-strapped Eskom

03/10 South Africa's mines and energy minister on Thursday said he was in talks with coal firms that supply struggling state-owned power utility Eskom to reduce coal prices in a bid. . .  Full story

South Africa debt-to-GDP could reach 95% by 2024, IIF says

03/10 South Africa's public debt could rise as high as 95% of gross domestic product by 2024 if the government doesn't restructure the state-run utility Eskom and implement a workable growth plan,. . .  Full story

Agarwal's maiden ton after Rohit heroics flatten South Africa

03/10 Mayank Agarwal completed a maiden test hundred following Rohit Sharma's authoritative century as the India openers put South Africa's bowlers on the mat in the opening match of the three-test series. . .  Full story

South Africa's rand firms ahead of data hurdles

03/10 South Africa's rand firmed early on Thursday as dollar investors took profits on the local currency's recent slide, ahead of a key jobs report from the United States later in the. . .  Full story

South Africa's private sector contracts again in September -PMI

03/10 South African private sector activity remained in contraction for a fifth consecutive month in September as new orders and output fell while sentiment was subdued, a survey showed on Thursday.. . .  Full story

South Africa's Discovery targets mental health with rewards plan

02/10 Discovery is targeting 500,000 insurance clients in South Africa to take regular surveys on their mental health in an extension of a programme which rewards "good" behaviours.. . .  Full story

South African union files case against Samancor Chrome over alleged fraud

02/10 South Africa's Association of Mineworkers and Construction Union (AMCU) said it had filed a court case on Wednesday against manganese and chrome producer Samancor Chrome relating to alleged fraud.. . .  Full story

South African miner Harmony gets new $400 mln credit facility - bank

02/10 South Africa's largest gold miner Harmony Gold has refinanced and increased its existing $350 million loan and revolving credit facility, raising it to $400 million, lead arranger Absa Bank Limited said. . .  Full story

S. Africa's AMCU mining union sees imminent wage deal with Impala Platinum

02/10 South Africa's militant Association of Mineworkers and Construction Union expects a deal with Impala Platinum over wages soon, the head of the leading platinum mining union said on Wednesday.. . .  Full story

African mast operator Helios Towers launches up to $1.8 bln London IPO -source

02/10 African mobile networks operator Helios Towers Ltd priced its initial public offering at 115-145 pence per share on Wednesday, a source familiar with the matter told Reuters, implying a total. . .  Full story

S.Africa to pay more for debt until fiscal problems addressed –central bank

02/10 South Africa will keep paying a high rate of interest on the loans it needs to plug a widening budget deficit until its fiscal problems are addressed, the central bank said. . .  Full story

South Africa's rand weakens as global recession fears weigh

02/10 South Africa's rand weakened for a second straight session on Wednesday, after dismal U.S. manufacturing data raised fears of a global recession and underscored the damaging effects of the prolonged trade. . .  Full story

African Markets - Factors to watch on Oct. 2

02/10 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: GLOBAL MARKETS Global. . .  Full story

S.Africa's Absa PMI falls to lowest in 10 years on growth fears

01/10 South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) sank to its lowest level in a decade in September, on weak demand linked to fears over slowing domestic and global growth,. . .  Full story

S.Africa's AMCU refers platinum wage dispute to commission

01/10 South Africa's AMCU union said on Tuesday it has referred ongoing platinum wage negotiations with Anglo American Platinum and Sibanye-Stillwater to the Commission for Conciliation, Mediation and Arbitration.. . .  Full story

Yields higher in weekly South Africa government bond auction

01/10 South Africa's Treasury sold a total of 4.53 billion rand ($297 million) worth of its 2023 , 2035, and 2048 instruments on Tuesday. Yields were higher compared with the previous auctions.. . .  Full story

South Africa's Blue Label Telecoms under threat of listing suspension

01/10 South Africa's Blue Label Telecoms has failed to comply with Johannesburg Stock Exchange (JSE) requirements and is under threat of suspension and possible removal, the exchange said on Tuesday.. . .  Full story