06 October 2017

Dominoes falling as KPMG loses another listed client

Interwaste has changed its audit firm two-thirds of the way through its financial year due to the concerns recently raised regarding KPMG.

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

Find out whats happening this in week in the M&A space with JSE-listed companies, unlisted companies and companies in Africa. Brought to you by DealMakers

PSG Konsult grows assets and premiums in a tough market

The financial advisory group says it’s done well to grow earnings in a tough business environment, with low growth and a loss of business and consumer...

Datatec warns of earnings slump due to Westcon-Comstor

First-half earnings have just about been obliterated due to business disruption at its Westcon-Comstor subsidiary as a result of a SAP implementation.

Chamber of Mines: It’s impossible to talk to Zwane

As the battle over the third Mining Charter continues, the Chamber of Mines is directly criticising Mineral Resources Minister Mosebenzi Zwane who, despite his public pronouncements,...

Corporate finance activity of the week

Your weekly corporate finance activity of the week brought to you by DealMakers

Finbond flags bumper first half

The niche financial services company says first-half earnings rose sharply but has given no reason for the improvement.

Thorts - Searching for a better measure of value

In a world of rising populism where business is increasingly viewed with distrust and in response to the unique set of challenges posed by the fourth...

Reporter’s Parliamentary Notebook: Lynne Brown confident as annual report season raises governance issues

Public Enterprises Minister Lynne Brown has staked her reputational recovery on a Special Investigation Unit (SIU) probe into Eskom's dodgy dealings highlighted in the #GuptaLeaks emails....

05 October 2017

Aspen's out of the poo as Vodacom takes its place

The Competition Commission drops its investigation into Aspen and turns its focus on Vodacom.

SARS Wars: KPMG report – the Firm, the Lawyers, the Auditor and the Blame Game

While KPMG SA might have withdrawn the findings and conclusions of a controversial "forensic" report into an alleged covert unit in SARS as well as offered...

Conservative Party Conference Manchester

Following on from the successful Liberal Democrat annual conference in Bournemouth and the equally successful Labour Party conference in Brighton last month... #ChrisGilmour

Zeder’s earnings take a hit from Pioneer's maize-hedge blunder

Zeder Investments has reported a sharp fall in first-half earnings, on the back of a drop in earnings from Pioneer Foods, its biggest investment.

Echo Polska proceeds with office disposals

Echo Polska is selling a portfolio of Polish office properties for €160 million so it can invest in more retail properties.

Parliament: SAPS performance targets missed as torture and deaths at the hands of police rise

The SAPS admitted failure in reaching its own performance targets due to "dereliction of duty" when its generals appeared before Parliament's police committee. Sans acting national...

amaBhungane & Scorpio #GuptaLeaks: The McKinsey Dossier, Part 2 – Contract to pay McKinsey and Trillian R1.6-bn ‘invalid’

In Part 1 of the #Guptaleaks: The McKinsey Dossier, we detailed how global consultancy McKinsey lined up a R9.4-billion bonanza from Eskom with the help of...

04 October 2017

Stadio marked higher as it debuts on the JSE

Stadio was given a good reception as it listed on the JSE this morning, rallying as much as 39% from its opening price of R5.55.

Exxaro starts selling down its Tronox stake

Exxaro has announced plans to start selling down its 42.7% stake in Tronox through a public offering of the titanium dioxide and chemicals business in the...

ANC Leadership Race: Eastern Cape hands key victory to Ramaphosa

It was a good weekend for supporters of the ANC Deputy President Cyril Ramaphosa after his camp scored a major victory in the Eastern Cape.

NEPI Rockcastle goes to market to fund acquisitions

NEPI Rockcastle raised R5.2 billion through an accelerated bookbuild yesterday, sending its shares as much as 4.1% lower.

Sovereign Foods bounces back as feed costs fall

Sovereign Foods says it has returned to profitability after it reported a loss last year due to rising feed costs.

The Interview: Mark Heywood

Earlier in 2017, the SECTION27 executive director announced that he would be stepping down. Heywood was executive director of the Aids Law Project, co-founder of Treatment...

TRAINSPOTTER: Billable Hours — how SA’s best and brightest screwed the country out of a future

Idiots are bad. Smart people are worse.

03 October 2017

Layoffs to hit Pick n Pay’s bottom line

Pick n Pay's voluntary severance programme has resulted in once-off retrenchment costs as it cuts costs and modernises its business.

Rolfes comes clean on material mistakes

Rolfes has released its 2017 financial results after it had to recalculate last year's numbers due to material accounting errors and an understatement of its impairments.

Coal of Africa rallies on Mooiplaats sale

Coal of Africa has sold its Mooiplaats colliery in a move that will help it deliver on its flagship Makhado Project.

Avian flu continues to ruffle feathers at Quantum

Despite preventative action taken at its commercial layer farms in the Western Cape, avian influenza has been confirmed in some poultry houses.

TeleMasters grows earnings in the face of stiff competition

TeleMasters says the pressure of a free market is evident in the telecoms sector as the average price of voice minutes keeps falling, putting pressure on...

02 October 2017

South America clouds over for Sun International

Sun International is putting the brakes on its expansion in South America after investments in Colombia and Panama haven't panned out as planned.

Trencor looks for solution to accounting quandary

Although conditions in the container leasing market have improved, Trencor has reported a first-half loss due to impairments of its container fleets.

Coal of Africa goes lite on Makhado

The company has scaled back the development plan for its Makhado Project, which will accelerate production with lower capital investment.

Alton takes another Byte at UK market

Altron subsidiary Bytes UK has bought Blenheim, the owner of value-added-reseller Phoenix Software, as it expands its international ICT footprint.

Bowler Metcalf expands its plastics business as SoftBev fizzles

In a fast-changing environment, Bowler Metcalf says its two key business interests have “commendably mastered” their respective challenges.

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