SA Business

African debt stabilising but region faces headwinds - IMF

19/10 Sub-Saharan Africa's public debt load is stabilising but the region's economies face mounting headwinds due to slowing global growth that will weigh on exports, the International Monetary Fund (IMF) said on Friday.  Full story

Coal to play significant role in South Africa power mix - minister

18/10 South Africa's plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a significant role as well as more renewable energy,. . .  Full story

South Africa's rand firmer on release of new power plan

18/10 South Africa's rand inched firmer early on Friday, clinging on to the strong gains it made in the previous session, after the country's cabinet approved a long-delayed plan for electricity generation.. . .  Full story

Zimbabwe cancels deal with Transnet to recapitalise state rail firm

17/10 Zimbabwe is cancelling a deal struck with South African logistics group Transnet to recapitalise National Railways of Zimbabwe (NRZ), a government official said on Thursday, blaming the consortium for not providing. . .  Full story

South African mid-term budget may come a day early -finance minister

17/10 Finance Minister Tito Mboweni said on Thursday that South Africa's mid-term budget may be presented on Oct. 29, a day earlier than scheduled, to accommodate President Cyril Ramaphosa's travel plans.. . .  Full story

South Africa's rand slides further as blackouts return

17/10 South Africa's rand inched lower early on Thursday, extending the previous session's sharp drop as the latest nationwide power cuts by state utility Eskom renewed fears of credit ratings downgrades.. . .  Full story

South Africa's retail sales up 1.1% year/year in August

16/10 South African retail sales rose 1.1% year-on-year in August following a 2% increase in July, Statistics South Africa said on Wednesday.. . .  Full story

Mediclinic International sees higher first-half core profit

16/10 Mediclinic International Plc said on Wednesday it expects higher first-half core earnings, as the healthcare company's Swiss business adjusted to regulatory changes and its Southern Africa and Middle East operations performed. . .  Full story

South Africa's rand tumbles 1% as Eskom plans nationwide power cuts

16/10 South Africa's rand tumbled more than 1% on Wednesday to its softest level in a week after state power utility Eskom said it would implement nationwide blackouts for the first time. . .  Full story

South Africa's Eskom to make power cuts on Wednesday

16/10 South Africa's state power firm Eskom said it will cut up to 2,000 megawatts of power from the national grid on Wednesday due to a shortage of generating capacity.. . .  Full story

African masts operator Helios Towers prices IPO at low end of range

15/10 African mobile networks operator Helios Towers has priced its initial public offering at 115 pence per share, giving it a market capitalisation of 1.15 billion pounds ($1.45 billion).. . .  Full story

South Africa's rand firmer in global hunt for yield, trade war calm

15/10 South Africa's rand firmed early on Tuesday, resuming last week's rally after the previous session's dip as investors were again lured by the currency's higher potential return amid a calmer local. . .  Full story

Zimbabwe aims to more than triple diamond production by 2023

14/10 Zimbabwe expects to increase diamond production to 11 million carats by 2023 from 3.2 million carats last year, the mines minister said on Monday, part of an ambitious plan to raise. . .  Full story

South African Airways in talks with potential partners

14/10 South Africa's embattled state-owned airline is open to outside investment and in talks with a number of potential partners, President Cyril Ramaphosa said on Monday.. . .  Full story

South Africa's rand steady on thaw in trade tensions

14/10 South Africa's rand inched slightly up in early trade on Monday, holding near a 3-week high it hit in the previous session, as risk sentiment strengthened following signs of progress in. . .  Full story

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

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

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

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 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 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

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 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

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

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 banks serving the East African country's small economy to 26, including a local unit of South Africa's. . .  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 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

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 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

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

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

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

South African rand steady as investors await data releases

01/10 South Africa's rand was steady on Tuesday, as investors refrained from taking big positions ahead of a slew of data releases, and as risk appetite remained soured amid jitters about the. . .  Full story

South Africa's Transnet unauthorised spending soars, overshadows revenue rise

30/09 South African state logistics firm Transnet on Monday reported a six-fold jump in unauthorised spending for the year to March 31 mainly due to train replacement contracts, as it posted a. . .  Full story

South Africa's Transnet says irregular expenditure up to 49 billion rand

30/09 South African state logistics firm Transnet said on Monday irregular expenditure in 2019 increased six-fold to around 49 billion rand from 8 billion rand in the previous year, mainly due to. . .  Full story

South Africa's trade balance swings to surplus in August

30/09 South Africa's trade balance swung to a 6.84 billion rand ($450.26 million) surplus in August after a revised 3.72 billion rand deficit in July, data from the revenue service showed. . .  Full story