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.

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...

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