07 December 2017

Steinhoff's skeletons crash out of the closet

Share price meltdown as Christo Wiese steps in after CEO Markus Jooste quits over accounting regularities.

Hammersons and Intu to form European retail property giant

The takeover will create the UK’s largest property company with assets of £21 billion.

ANC Leadership Race: With branches’ cards revealed, a tough, tight contest looms

It's set to be a close race in the ANC's national elective conference after the nomination of ANC MP Nkosazana Dlamini Zuma in KwaZulu-Natal - the...

What moved the market last week?

The breakneck pace at which things changed accelerated last week with the Rand continuing its charge during the course of last week.

Sanlam ready to weather market headwinds

The group says the outcome of the ANC’s national elective conference this month could add to market volatility.

Schroder targets more Western European acquisitions

The REIT says rental growth is returning to the region, supported by an economic recovery and declining unemployment.

Op-Ed: Beware the dangerous ambitions of the anti-business propaganda campaign

The formal business sector in South Africa has been subjected to a propaganda onslaught that has damaged it. It has painted business as universally corrupt, led...

Op-Ed: A Snake Eating its Tail – South Africa cannot let two Zuma-era travesties get him off his corruption charges, again

If President Jacob Zuma is not prosecuted, after so many years of court wrangling, it will be a travesty and a tragedy. By PAUL HOLDEN.

06 December 2017

Sappi wraps up speciality paper deal

The pulp and paper group says the acquisition of Switzerland's CPG will provide a platform for future growth.

South32 trims capex forecast and sticks to SA plan

South32 now expects sustaining capital expenditure of $470 million for the year to June 2018, down from $500 million.

ISS Today: Natural gas won’t solve Mozambique’s development challenges

Without basic service delivery and better budget management, gas reserves won't help Mozambique's poorest. By Alex Porter and Zachary Donnenfeld for ISS TODAY.

Capital & Regional bucks gloomy UK retail trend

The shopping centre owner is growing footfall through its malls while the national average shrinks.

Basil Read freezes debt pending recapitalisation

The company has executed a debt standstill agreement with creditors and guarantors as it restructures its group with a rights offer and corporate reorganisation.

On the ANC constitution and the election of a new NEC: The legal issues

In less than two weeks the governing African National Congress (ANC) will be holding its national conference, where it will elect a new president as well...

GroundUp: ‘Zuma promised me a house’

A 73-year-old amputee lives alone in a dilapidated mud home, waiting for a promise of a house. By Nompendulo Ngubane for GROUNDUP.

05 December 2017

Steinhoff Africa Retail benefits as consumers shop for value

Budget clothing chains Pep and Ackermans were the stand out brands in the group, while a turnaround at its furniture and appliance stores also contributed.

Alexander Forbes back in the game

While it’s made progress with its turnaround, the financial services group says it’s nowhere near its full potential.

Notes from the House: Parliament shows its mettle with full-scale investigation into State Capture

Amid calls for allegations of State Capture to be thoroughly investigated and equally determined efforts to prevent it from happening again, Parliament decided to take on...

Ellies’ turnaround is on track

The electronics group has returned to profitability despite the weak economy.

Echo Polska doubles up on Polish retail property

The real estate investment trust plans to become a purely retail investment platform over the next three to four years.

Ben Turok: Waiting for December: The ANC remains powerful, but impatience eating away at loyalty

While there seems to be a revival of public interest in the fortunes of ANC politics I am not sure that it goes beyond the race...

Jessie Duarte: The Ex Factor: Why Nkosazana Dlamini Zuma remains a good choice

The "ex" tag attached to Nkosazana Dlamini Zuma is a dismissive, disrespectful attack perpetrated by individuals who have no regard for women and no regard or...

Evita's Free Speech: Ep.119 – Evita avoids talking sex-things (Video)

Evita Bezuidenhout celebrates 20 years of her Darling venue Evita se Perron with a weekly episode of 'Evita's Free Speech'. Here's the Episode 119. By PIETER-DIRK...

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.

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