NEWS ARCHIVES


04 December 2017

Sygnia grows assets in tough environment

The fund manager says it was positioned for a weak economy due to the political situation in the country.

Barclays completes its Africa withdrawal

The bank has placed 7% of its Barclays Africa in safekeeping pending its take-up by the PIC.

ANC Leadership Race: Ramaphosa bags the Eastern Cape but branches choose Zweli Mkhize and David Mabuza over Naledi Pandor

In the Eastern Cape on Thursday, the ANC overwhelmingly nominated Deputy President Cyril Ramaphosa for president. It's the first of the big provinces to nominate, and...

African Bank back in the black

The bank that was salvaged from ABIL has reported a profit as it takes a more cautious approach to lending.

amaBhungane & Scorpio #GuptaLeaks: How family hijacked (and then lost) a Lesotho diamond mine

In August 2014 Lesotho Prime Minister Tom Thabane appointed Atul Gupta as an "economic investment envoy". Thabane said ANC President Jacob Zuma had introduced him to...

The Other News Round-Up: ‘Tis the Season to be Brawly

Each week, Daily Maverick brings you some of the lesser-reported news from South Africa and further afield. This week: the not-so-festive side of the season.




01 December 2017

FirstRand banks on Jardine to replace Dippenaar

Former CEO Sizwe Nxasana was expected to take the helm but couldn’t due to extensive demands on his time.

CIG buckles under renewables delays, underperformance

Consolidated Infrastructure Group has unveiled the full extent of problems at its Consolidated Power Projects division that have resulted in a full-year loss.

Corporate finance activity of the week

The company has raised R200m by way of a private placement of 67,567,568 shares at an issue price of R2.96 per share. The new shares were...

STAR exercises Shoprite call options

The African retail giant says the Shoprite stake will give it a complementary food and grocery offering.

Harmony Gold gets ahead on Hidden Valley

The gold miner has completed a planned shutdown at the mine two weeks early.

Who’s doing what in the South African & African M&A space?

Long4Life has acquired from senior management, Africa Beverage Venture and Raubenbel, 100% of Chill Beverages International, a producer, packer and distributor of a range of beverages.

Imbalie finalises rights offer as loss deepens

It says the additional R15 million will strengthen its balance sheet and fund its internal restructuring and growth plans.

Thorts - Pension Funds

Infrastructure as an asset class can provide a distinct addition to African pension and investment portfolios and is increasingly being considered.




30 November 2017

Naspers’ earnings jump on Tencent as e-classifieds turn profitable

Naspers says its e-commerce businesses are starting to gain momentum, with the result that first-half revenue grew by 17% more than last year.

Acquisitions help fuel Kaap Agri’s growth

The agricultural services group added nine new fuel sites to its offering last year and has since bought another three.

Short-term pain as Ansys prepares for increased digitisation

Profit is lower as the digital solutions provider positions itself for growing digitisation of the economy.

Parliament: Obfuscation & Fuzzy Talk – SARS’ Moyane defends Makwakwa’s return to work and bonus

South African Revenue Service (SARS) Commissioner Tom Moyane maintains that Jonas Makwakwa, Chief Officer for Business and Individual Taxes, had every right to be back at...

Drought wilts earnings at Crookes Brothers

The agricultural group says interim results shouldn’t be used to project full-year earnings due to the seasonality of crops.

BSI Steel moves ahead with delisting plans

The AltX-listed processor and distributor of steel products says its size doesn’t justify its listed status.

amaBhungane: Dodgy World Cup deal comes back to bite Free State premier Ace Magashule

While South Africa was caught up in the 2010 World Cup frenzy, Free State premier Ace Magashule was allegedly pulling the strings behind a multimillion-rand tender...




29 November 2017

Nampak unwraps improved earnings despite the tough economy

The packaging group has also been more successful in repatriating cash from Nigeria.

Omnia sells less fertilizer after bumper maize harvest

First-half profit was boosted by a recovery in its mining division and an improvement in Australia.

Long4Life chilled with latest acquisition

The investment group has bought the Western Cape-based maker of Fitch & Leedes and Score Energy.

Bell rings in better times

The maker, distributor and exporter of articulated trucks and earthmoving equipment has flagged a strong rise in full-year earnings

Multichoice scandal is posing painful questions about a corrupt nexus - Naspers must answer them

Friday's GuptaLeaks story was important for revealing what looked like a corrupt nexus between the Gupta's ANN7 television channel, its pay-TV carrier Multichoice and former Minister...

Loan demand boosts Ecsponent

Demand for credit from small and medium-sized businesses, as well as entrepreneurs, is leading to a growing loan book at Ecsponent.

Op-Ed: Fighting Corruption – an economic growth policy all on its own?

There is no shortage of economic policy programmes in South Africa and we tend to race through them without implementing any of them. By DIRK DE...




28 November 2017

Tiger Brands benefits from recent restructuring

The branded food group is focusing on margins as weak consumer confidence weighs on volumes.

South32 to spin off energy coal business, mulls listing

The group wants to broaden black ownership of the asset and introduce communities and workers as shareholders.

Sponsored - End of year bonuses - Christmas wishes?

At the end of every year, employees look forward to or even financially plan around the receipt of an end of year or Christmas bonus. However,...

Invicta’s profit down on the “true economic reality” of South Africa

The engineering and capital equipment group says its global operations should help carry it until local conditions improve.

Vukile confident of dividend growth as it expands offshore

The real estate investment trust says exposure to the UK and Spain will shield it from tough conditions at home.

The week ahead

All eyes were on the release of Moody’s and S&P’s ratings decisions on Fri Nov 24. We had to wait until after the close of markets...




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