SA Company

Harmony Gold says impairments will dent full-year earnings

17/08 South Africa's Harmony Gold said on Friday its full-year earnings would be lower than last year due to impairments against a number of its mines as well as foreign exchange losses.. . .  Full story

South African rand surrenders gains as economy concerns weigh

16/08 South Africa's rand surrendered its earlier gains in late trade on Thursday due to lingering concerns over the economy, while a rebound in market heavyweight Naspers brought some relief on the bourse.. . .  Full story

Afraid of no-one and ready for a long strike, union leader tells Implats

16/08 Members of South Africa's AMCU mining union are ready to strike for a year if necessary and would bring the platinum belt to a standstill if Impala Platinum carries out plans to cut up. . .  Full story

S.Africa's Truworths creates COO role to boost sales as FY profit falls

16/08 South African fashion retailer Truworths International has created a chief operating officer position to boost retail sales growth at home and in the UK, where consumer spending remains under pressure and online competition is growing.. . .  Full story

South Africa's Truworths posts profit decline of over 7 percent

16/08 South African fashion retailer Truworths International reported a 7.3 percent fall in annual profit on Thursday, in line with analyst estimates, as consumers spent warily.. . .  Full story

South Africa's MTN has no plans to sell stake in online retailer Jumia

16/08 MTN Group, Africa's biggest mobile operator, said on Thursday it has no plans to sell its investment in online shopping platform Jumia.. . .  Full story

Gold Fields' CEO says not considering resigning after minister criticism

16/08 Gold Fields Ltd Chief Executive Nick Holland said on Thursday he was not considering resigning after South Africa's mines minister Gwede Mantashe blamed "poor management" for planned job cuts at its South Deep mine.. . .  Full story

MTN Nigeria signs 200 bln naira loan to expand network

16/08 MTN Nigeria has signed a 200 billion naira ($636 million) loan with a consortium of 12 lenders to fund capital expenditure and working capital, it said on Thursday.. . .  Full story

S.Africa's Gold Fields posts flat H1 profit as Chile costs bite

16/08 South Africa's Gold Fields Ltd said on Thursday half-year profit remained unchanged, with higher exploration expenditure at its Salares Norte operations in Northern Chile weighing on profits.. . .  Full story

MTN Nigeria signs 200 bln naira loan with lenders

16/08 MTN Nigeria said on Thursday it had signed a 200 billion naira ($636 million) loan facility with a consortium of 12 local lenders to fund capital expenditure and working capital.. . .  Full story

Gold Fields suffering under poor management - S.Africa mines minister

16/08 Gold Fields' plans to cut jobs in South Africa to reduce costs is taking the "easy way out" and avoids tackling the real issue of poor management, mining minister Gwede Mantashe said on Thursday.. . .  Full story

South Africa's Standard Bank H1 profit up 5 percent

16/08 South African lender Standard Bank's first-half profit rose by 5 percent, helped by a strong showing from its businesses outside its home market, the bank said on Thursday.. . .  Full story

South Africa's Exxaro H1 profit lifts boosted by coal performance

16/08 South Africa's Exxaro Resources Ltd said on Thursday half-year profit rose 8 percent, boosted by a strong performance in its core coal business.. . .  Full story

South Africa's Exxaro H1 profit up 8 pct on coal performance

16/08 South Africa's Exxaro Resources Ltd said on Thursday half-year profit rose 8 percent boosted by a strong performance in its core coal business.. . .  Full story

South African Markets - Factors to watch on Aug 16

16/08 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 rand slumps after Moody's warning, stocks tumble

15/08 South Africa's rand slumped on Wednesday as ratings agency Moody's warned that the pace of fiscal consolidation in Africa's most industrialised nation had slowed and retail sales data disappointed, underlining the fragility of the economy.. . .  Full story

South Africa hikes sugar import duties to protect local industry

15/08 South Africa has raised import duties on sugar to $680 from $566 a tonne to protect the domestic industry against a surge in imports, the trade and industry minister said on Wednesday.. . .  Full story

Gold Fields' CEO says South Deep lay-offs "last-gasp measure"

15/08 Gold Fields' plan to potentially cut up to almost 1,600 jobs at its struggling South Deep mine in South Africa is a "last-gasp measure", Chief Executive Nick Holland said on Wednesday.. . .  Full story

South Africa's rand rebounds as Turkey-led rout eases, stocks falter

14/08 South Africa's rand gained more than 2 percent on Tuesday, bouncing off a two-year low struck a day before, when investors dumped emerging market assets because of fears over the Turkish economy.. . .  Full story

South Africa's mines minister concerned about Gold Fields job cuts

14/08 South Africa mines minister said on Tuesday he was concerned by bullion miner Gold Fields' plan to cut around 1,100 jobs without due regard to processes outlined in the Mineral and Petroleum Resources Development Act.. . .  Full story

South Africa's Gold Fields plans to slash jobs in mine restructure

14/08 South Africa's Gold Fields said on Tuesday it plans to slash costs at its struggling South Deep mine, including cutting 1,100 jobs, or around 30 percent of its workforce.. . .  Full story

South Africa's rand falls to 2-year low as Turkey rout spreads

13/08 South Africa's rand plunged more than 10 percent to a 2-year low against the dollar early on Monday and government bonds weakened sharply as a renewed rout in the Turkish lira spread to other. . .  Full story

South Africa's high-speed train workers end two-week strike

13/08 Workers at South Africa's high-speed train service that mainly caters for business commuters ended a two-week strike over pay on Monday after reaching a 12-month agreement with their employer, and promised to resume work by. . .  Full story

Sappi shares fall more than 8 percent on lower Q3 profit

13/08 South African pulp and paper maker Sappi reported a 12 percent drop in quarterly profit on Monday as a rise in capital expenditure drove up depreciation costs, sending its share price almost 8 percent lower.. . .  Full story

Paper and packaging group Sappi posts 12 pct drop in Q3 profit

13/08 South African pulp and paper maker Sappi reported a 12 percent drop in quarterly profit on Monday due to an increased depreciation expense following higher capital expenditure.. . .  Full story

South African Markets - Factors to watch on Aug 13

13/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

Kenya’s Safaricom resists tariff cuts to avoid price war

10/08 Safaricom, Kenya's biggest telecoms operator, has no plans to reduce its call rates after rival Airtel cut its prices as it wants to avoid a price war, its chief executive officer said on Friday.. . .  Full story

African Markets - Factors to watch on Aug.9

09/08 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.. . .  Full story

South Africa's rand firmer as dollar rally pauses, MTN tops decliners

08/08 South Africa's rand retreated on Wednesday ahead of a bank holiday on Thursday, with investors booking profits from the previous session's rally and closing positions as the dollar bounced back on the latest U.S. and. . .  Full story

Tanzania plans to suspend Naspers' Multichoice telecoms licence

08/08 Tanzania's telecommunications regulator intends to suspend the licence of Multichoice, owned by South Africa's Naspers, for continuing to carry free-to-air channels.. . .  Full story

Naspers' unit Multichoice concerned about Tanzania suspension notice

08/08 Multichoice, the unit of South Africa's Naspers, said on Wednesday it was concerned that Tanzania's telecommunications regulator planned to suspend its services over a matter that was pending at the Fair Competition Tribunal.. . .  Full story

Naspers creates new video on demand unit as Netflix rivalry heats up

08/08 Naspers' video entertainment division has created a new over-the-top (OTT) video unit to be headed by Niclas Ekdahl in a bid to counter stiff competition for video on demand from global players such as Netflix.. . .  Full story

Tanzania to suspend local Naspers affiliate -regulator

08/08 Tanzania's telecommunications regulator intends to suspend the license of South Africa's Naspers' Multichoice unit for failure to comply with its orders, an official from the body told Reuters on Wednesday.. . .  Full story

South Africa's MTN says sanctions complicate efforts to repatriate Iran cash

08/08 MTN Group, Africa's biggest mobile operator, is sticking to its 2018 dividend target despite new U.S. sanctions making it harder to repatriate cash from its Iran joint venture, the company said on Wednesday.. . .  Full story

Uganda's Stanbic Bank pre-tax profit rises, sees credit growth

08/08 Stanbic Bank Uganda, owned by South Africa's Standard Bank Group, said on Wednesday its half-year profit before tax rose 4 percent, compared to the first six months of 2017, helped by higher non-interest income.. . .  Full story

South Africa's Murray & Roberts drops Aveng merger plan

08/08 South African construction company Murray & Roberts said on Wednesday that it had withdrawn plans for a potential merger with rival Aveng , saying there was "limited potential" for the deal to go through.. . .  Full story

South Africa plastics company Mpact H1 profits falter, shares fall

08/08 South African paper and plastics packaging maker Mpact reported a 13 percent fall in half-year earnings on Wednesday in the face of challenging trading conditions and subdued consumer demand, sending its share price almost 7. . .  Full story

South Africa's Murray & Roberts says withdraws Aveng merger proposal

08/08 South African construction company Murray & Roberts said on Wednesday that it had withdrawn plans for a potential merger with rival Aveng.. . .  Full story

South Africa's Mpact H1 profits fall on challenging market conditions

08/08 South African paper and plastics packaging maker Mpact reported a 13 percent fall in half-year earnings on Wednesday in the face of challenging trading and market conditions.. . .  Full story

South African Markets - Factors to watch on Aug 8

08/08 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 MTN H1 profit down 7 percent

08/08 MTN Group, Africa's biggest mobile operator, reported a 7 percent decline in half-year profit on Wednesday due to a lower contribution from associates and joint ventures.. . .  Full story

Mozambique finalises block 5 oil deals with multinational firms

07/08 Mozambique's government on Tuesday approved contracts giving exclusive rights to energy companies to act on concessions awarded to them to explore for oil following four years of negotiations and delays that threatened to derail the. . .  Full story

South African rand gains on stalled dollar rally, Turkish lira fall

07/08 South Africa's rand gained more than one percent on Tuesday, reversing the previous session's losses as the dollar rally paused and investors sought alternatives to the Turkish lira.. . .  Full story

South Africa's AMCU union warns of industrial action at Implats over job cuts

07/08 South Africa's AMCU union will embark on unspecified industrial action at Impala Platinum if talks with the company over its plans to cut a third of its workforce fail to stem the lay-offs, the. . .  Full story

South Africa's rand retreats in global risk-off, stocks fall

06/08 South Africa's rand weakened on Monday as emerging markets were knocked by a retreat in risk demand, with investors opting for safe bets as trade tensions rose between Washington and Beijing.. . .  Full story

South African sugar maker Tongaat CEO retires

06/08 South African sugar producer Tongaat Hulett said on Monday its Chief Executive Officer Peter Staude will retire on 31 October this year and an interim CEO would be named shortly.. . .  Full story

Lower NHS referrals dent Spire Healthcare's profit view, shares sink

06/08 Spire Healthcare shares hit a record low on Monday after it warned of sharply lower full-year core earnings on fewer referrals from Britain's publicly funded National Health Service (NHS).. . .  Full story

Kenya's Safaricom's CEO Collymore resumes work after treatment

06/08 The chief executive of Kenya's biggest telecoms operator Safaricom, Bob Collymore, resumed work on Monday after a nine-month absence for medical treatment, he said.. . .  Full story

South African Markets - Factors to watch on August 6

06/08 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

South Africa's rand rallies as dollar stalls, stocks recover

03/08 South Africa's rand gained on Friday as U.S. job growth slowed more than expected, easing pressure on emerging market currencies that have retreated this week on likely return of a greenback rally.. . .  Full story

Mondi bets on environmentally conscious consumers, e-commerce as profit jumps

03/08 Mondi, looked to e-commerce and environmentally conscious consumers to drive growth, after the packaging firm reported a 25 percent increase in half-year underlying profit on Friday.. . .  Full story

South Africa's Imperial Holdings sees FY profit up as much as 16 pct

03/08 Imperial Holdings' full-year profit could rise as much as 16 percent on lower foreign exchange losses and financing costs, the South African vehicles importer said on Friday.. . .  Full story

Packaging group Mondi reports 25 pct rise in H1 underlying profit

03/08 Packaging and paper group Mondi, reported a 25 percent increase in half-year underlying profit, benefiting from higher average selling prices, good demand across its packaging businesses and profit improvement initiatives across the group.. . .  Full story

South Africa's rand falls hit by growing trade tension, stocks falter

02/08 The South African rand lost ground against the greenback on Thursday as a bellicose United States Federal Reserve and escalating trade tensions weighed on emerging market currencies.. . .  Full story

South African gold producers make new wage offer to unions

02/08 South African gold producers said on Thursday they had offered annual wage increases of up to 7.2 percent to underground employees and up to 4.5 percent for miners and artisans, after unions rejected a. . .  Full story

South African regulators prohibit Murray & Roberts from seeking Aveng tie-up

02/08 Murray & Robert's biggest shareholder ATON has won an appeal from regulators, allowing it to block the construction firm's proposed merger with peer Aveng, Murray & Roberts said on Thursday.. . .  Full story

South Africa's mines minister says Implats job cuts "reckless"

02/08 South Africa's mines minister has urged platinum producer Impala Platinum's to reconsider its plans to slash its workforce by a third over two years, calling the firms actions "careless". "Their reckless actions add injury to. . .  Full story

Impala Platinum says could sell South African shafts slated for closure

02/08 Miner Impala Platinum could sell shafts it plans to close if buyers could be found, Chief Executive Nico Muller told journalists on Thursday after the company announced 13,000 job cuts over the next two years.. . .  Full story

AngloGold to swing to H1 profit on higher output, cost reductions

02/08 AngloGold Ashanti said it will swing to a first-half profit due to increased production and lower retrenchment costs.. . .  Full story

South African platinum miner Implats says to slash 13,000 jobs

02/08 South African platinum miner Impala Platinum will cut 13,000 jobs over the next two years, it said on Thursday, as the local platinum industry grapples with rising costs and weak prices for the precious metal.. . .  Full story

S.Africa's Liberty sees H1 profit rise as turnaround gains traction

02/08 South African insurer Liberty Holdings reported a 6 percent rise in half-year profit on Thursday, a sign that a turnaround strategy launched a year ago is gaining momentum.. . .  Full story

South Africa's Liberty H1 profit rises 6 percent

02/08 South African insurer Liberty Holdings reported a 6 percent rise in half-year profit on Thursday, a sign that a turnaround is gaining momentum.. . .  Full story

South Africa's rand, stocks recover from slip after ANC land move

01/08 South Africa's rand bounced back late on Wednesday as investors bought the currency cheap ahead of a policy decision by the U.S. central bank that could send the greenback higher.. . .  Full story

ArcelorMittal South Africa shares at six-month high on H1 profit

01/08 ** ArcelorMittal's South Africa unit shares surge nearly 17 percent to 3.74 rand, it's highest since Jan. 31.. . .  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 Wednesday.. . .  Full story

South Africa's rand firms as trade surplus jumps, stocks up

31/07 South Africa's rand raced to a seven-week high against the dollar on Tuesday bolstered by data showing a better than expected trade surplus in June, while stocks ended higher.. . .  Full story

South Africa's rand grinds out gains, stocks also up

30/07 South Africa's rand continued to eke out gains on Monday despite a slide by some emerging market units as the local currency attracted buyers looking for high yields.. . .  Full story

South Africa's Imperial CEO to extend medical leave after stroke

30/07 South African transport group Imperial Holdings said its chief executive officer would extend his medical leave until January 2019 after suffering a minor stroke.. . .  Full story

South Africa's Massmart warns H1 profit could fall 26 pct

30/07 Massmart Holdings expects half-year profits to fall by as much as 26 percent, the South African retailer said on Monday citing muted sales growth.. . .  Full story

South African Markets - Factors to watch on July 30

30/07 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

South Africa's rand falls as dollar bulls return; stocks higher

26/07 South Africa's rand slipped on Thursday as the dollar regained momentum with the trade war pendulum swinging against emerging markets after the United States and Europe struck an agreement, prompting some profit-taking on the currency's. . .  Full story

Naspers considers Hong Kong, New York listing of some e-commerce units

26/07 South Africa's Naspers is considering listing some of its e-commerce ventures in Hong Kong or New York, its chief executive said on Thursday, part of efforts to narrow the discount between its market value. . .  Full story

S.Africa's Naspers considers Hong Kong, New York listing of some e-commerce units

26/07 South Africa's Naspers is considering listing some of its e-commerce ventures in Hong Kong or New York, its chief executive said on Thursday, part of efforts to narrow the discount between its market value. . .  Full story

Nigeria's 9mobile takeover nears as regulator finalises review

26/07 Nigeria's telecoms regulator is finalising its review of investment firm Teleology Holdings' planned takeover of 9mobile and the deal is expected to close in about a week, two sources told Reuters on Thursday.. . .  Full story

South African Markets - Factors to watch on July 26

26/07 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 gold producers urge unions to narrow demands as third set of wage talks fail

25/07 South African gold producers on Wednesday urged unions to narrow their demands after a third round of wage negotiations saw unions rejecting offers of annual wage increases of up to 6.5 percent for miners and. . .  Full story

South African rand firmer on China high, stocks falter

25/07 South Africa's rand extended earlier gains to a one-week high on Wednesday on renewed interest from foreign investors, especially those forced to cover bearish bets following Tuesday's surprise rally on news of massive investment by. . .  Full story

South Africa orders probe into $150 bln state pension fund -treasury

25/07 South Africa's finance minister on Wednesday ordered an independent inquiry into the Public Investment Corporation (PIC), the state pension manager, following corruption allegations involving senior executives.. . .  Full story

Karo launches $4.2 bln Zimbabwe project, has several funding options

24/07 Zimbabwe's Karo Mining Holdings has a range of options for securing funding for its $4.2 billion platinum mining venture, a company official said on Tuesday, citing bank finance, equity or money from shareholder Tharisa Plc.. . .  Full story

South Africa's rand firms on Chinese investment; stocks rally

24/07 South Africa's rand firmed more than one percent on Tuesday to a three-day best as demand for the local currency was boosted by China's promise of a $14.7 billion investment.. . .  Full story

Rwandan cement maker expects market to stabilise after plant upgrade

24/07 Rwanda's biggest cement producer CIMERWA expects an upgrade of its production capacity will help to stabilise the market after shortages sent the price of a bag of cement up nearly 50 percent.. . .  Full story

South Africa's Vodacom Q1 revenue boosted by increase in customers

24/07 Vodacom Group, South Africa's biggest mobile phone operator by market value, reported on Tuesday a 4.2 percent rise in group revenue for the first quarter, boosted by service revenue growth in its home market and. . .  Full story

South African Markets - Factors to watch on July 24

24/07 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 falls after state-run power entity reports losses

23/07 South Africa's rand fell around one percent against the dollar on Monday as struggling state-run power firm Eskom reported a 2.3 billion rand ($170.37 million) loss for the 2017/18 financial year. At 1522 GMT the. . .  Full story

Sappi to invest $570 mln to expand capacity at Saiccor Mill

23/07 South Africa's Sappi will invest 7.7 billion rand ($570 million) to expand and upgrade its Saiccor Mill near the port city of Durban, the pulp and paper producer said on Monday.. . .  Full story

PayU buys Israeli payment technology firm Zooz

23/07 Online payment company PayU, a subsidiary of Naspers, said on Monday it agreed to acquire Israeli payment technology provider Zooz to support its expansion in high-growth markets.. . .  Full story

PayU buys Israeli payment tech firm Zooz for $80 mln -report

23/07 Online payment company PayU, a subsidiary of Naspers, has agreed to buy Tel Aviv-based payment technology provider Zooz, the Calcalist financial news website reported on Monday, citing Zooz CEO Oren Levy.. . .  Full story

South Africa's Harmony says FY output exceeds guidance

23/07 South Africa's Harmony Gold said on Monday annual bullion production for 2018 has exceeded its guidance, boosted by its Moab Khotsong operation.. . .  Full story

South African Markets - Factors to watch on July 23

23/07 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday.. . .  Full story

Kenya's Safaricom hit by voice and data outage

22/07 Safaricom has suffered a voice and data outage affecting critical transmission equipment because of a damaged fibre link, Kenya’s biggest telecoms company said on Sunday.. . .  Full story

South African rand recovers from hawkish cenbank comments, stocks rise

20/07 South Africa's rand rose more than 1 percent on Friday as short sellers bought back into the currency at cheaper levels after hawkish comments from the central bank caused a sharp decline in the. . .  Full story

South African retailer Truworths flags dip in annual profit

20/07 South Africa's Truworths International expects full-year profit to fall by as much 3 percent, the fashion retailer said on Friday, as retail sales declined.. . .  Full story

South Africa's rand retreats after lending rate unchanged, stocks steady

19/07 South Africa's rand weakened on Thursday after the central bank kept lending rates unchanged but warned that risks to inflation were rising and the outlook for economic growth had worsened, extending a selloff from earlier. . .  Full story

South Africa's Woolworths expects annual profit to slump

19/07 South African department store chain Woolworths Holdings Ltd warned on Thursday that annual profit would fall by up to 20 percent, hurt by "extremely" challenging trading conditions in its home market and Australia.. . .  Full story

South Africa's Woolworths sees annual profit slump on challenging conditions

19/07 South African department store chain Woolworths Holdings Ltd warned on Thursday that annual profit would fall by up to 20 percent, hurt by "extremely" challenging trading conditions in its home market and Australia.. . .  Full story

South African Markets - Factors to watch on July 19

19/07 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 dips on dollar resurgence, stocks rise

18/07 South Africa's rand was slightly weaker on Wednesday despite better-than-anticipated inflation and retail sales figures, as the dollar reached two-week highs.. . .  Full story

South Africa gold producers offer single-digit pay hikes to unions

18/07 South African gold producers said on Tuesday they had offered annual wage increases of up to 6.5 percent to miners and up to 4.5 percent for skilled workers, far short of union demands and. . .  Full story

Shoprite annual sales growth slowed by Angola

18/07 Africa's biggest supermarket chain Shoprite Holdings said on Wednesday annual turnover increased by 3.3 percent, missing analyst estimates, as problems stemming from currency devaluation in Angola weighed on group performance,. . .  Full story

South Africa gold producers offer single-digit hikes - document

18/07 South African gold producers have offered wage increases of around up to around 6 percent to most rank and file miners and up to around 4.5 percent for more skilled workers, according to a. . .  Full story

South African Markets - Factors to watch on July 18

18/07 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 retreats as bears await rate decision; stocks up

17/07 South Africa's rand weakened on Tuesday, giving way to a recovering dollar and the return of bearish positioning ahead of consumer inflation and retail data that precede a central bank decision on lending rates.. . .  Full story

South Africa's Amplats, PIC create venture fund to lift PGM industrial demand

17/07 World no. 1 platinum producer Anglo American Platinum has spun off an internal fund and invested $100 million in a new venture capital fund with an aim to stimulate industrial demand for platinum group metals. . .  Full story

Amplats, PIC invest $200 million in platinum venture funds

17/07 South Africa's Anglo American Platinum has invested $100 million in two venture capital funds focused on increasing demand for platinum group metals, it said on Tuesday.. . .  Full story