19/02 South Africa's rand inched
lower on Tuesday, with investors pricing in domestic risks ahead
of the annual budget where the financial crisis at state power
utility Eskom is set to be addressed.. . .
18/02 South African billionaire
Patrice Motsepe said on Monday that he would not buy any assets
which struggling state power firm Eskom puts up for sale, in
response to speculation that he was eyeing an. . .
18/02 South Africa's state-owned
airline is in talks with lenders about rolling over $650 million
of debt due next month, its finance chief said on Monday, a move
that would give the struggling company breathing. . .
18/02 South Africa's rand
weakened in late afternoon trade on Monday as investors awaited
Wednesday's budget, when the finance minister is expected to
unveil plans to shore up state-owned power utility Eskom.. . .
18/02 South African
utility Eskom imposed the worst power cuts in several years on
homes and businesses last week, conjuring up memories of the
2008 crisis when the grid nearly collapsed and cost the mining
industry. . .
18/02 South African services firm
Bosasa, which is known as African Global Operations, said on
Monday it had applied for voluntary liquidation after its banks
told it they would close its accounts by the end. . .
18/02 South Africa's Anglo
American Platinum (Amplats) said on Monday it had lost
14,000 platinum ounces last week when struggling state power
firm Eskom implemented five straight days of power cuts.. . .
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. . .
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.. . .
15/02 The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
- - - - -
*NIGERIA -Statistics office. . .
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.. . .
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. . .
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.. . .
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.. . .
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. . .
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. . .
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.. . .
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.. . .
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. . .
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.. . .
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. . .
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.. . .
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. . .
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.. . .
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,. . .
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. . .
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.. . .
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. . .
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. . .
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.. . .
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. . .
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.. . .
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. . .
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.. . .
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.. . .
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.. . .
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.. . .
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.. . .
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.. . .
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