April 08
South Africa: Shoprite Joins Group of Retailers Revamping Retail On a Global Scale
The W23 Global fund will pump $125m into start-ups aimed at addressing sustainability and transforming grocery retail. Read more »
April 04
South Africa: All Systems Go for Eskom Transmission Arm to Become a Separate Company
The unbundling of ailing state-run power utility Eskom into three entities has passed a major threshold. The National Transmission Company of South Africa has achieved all the… Read more »
Africa: Standard Chartered, Old Mutual Fintech Arms to Launch UAE Wealth Management Platform
The new wealth platform will be headquartered in the UAE, the Middle East's financial hub, providing access to advanced budgeting, savings and investment solutions for users in the… Read more »
South Africa: Markus Jooste's Steinhoff Was a Horrific, High-Profile Example of Corporate Capture
Steinhoff is corporate South Africa's handmaid to State Capture. They share the same DNA -- people who knew better and could have done something chose silence. Read more »
March 21
South Africa: Disgraced Steinhoff Boss Markus Jooste Reportedly Shoots Himself
Disgraced former chief executive of Steinhof Markus Jooste has reportedly shot himself just more than 24 hours after the Financial Sector Conduct Authority revealed that it was… Read more »
February 15
South Africa: Saica Disciplinary Process Found Wanting in SAA Biscuit Saga
The South African Institute for Chartered Accountants disciplinary process was put to the test in 2023. It failed dismally. In its handling of a complaint against CA Graeme Rigby,… Read more »
January 09
South Africa: Gold One Fires 445 Over Hostage Dramas While Implats Grants Reprieve to 'Instigators'
Gold One has fired 445 employees for allegedly taking part in a pair of underground wildcat strikes at its mining operations in Springs, a move that may stoke tensions. Meanwhile,… Read more »
December 07, 2023
South Africa: It's Now Up to Government to Decide On R3.8 Billion Bailout for Post Office
A majority of SA Post Office creditors voted in favour of implementing a rescue plan to restructure the affairs of the beleaguered company and give it a fighting chance. The plan… Read more »
November 21, 2023
South Africa: Auditor-General's Report Reveals SAA Is Far From Going Like a Boeing
Despite billions of rands of taxpayer money being thrown into the SAA black hole, the airline remains a mess. The Auditor-General has painted a dire picture of financial results… Read more »
November 07, 2023
South Africa: MTN Spends R6.6 Billion to Boost Network Resilience in the Face of Intensified Blackouts
MTN aims to spend R10bn in 2023 and the early months of 2024, with the telecommunications company sacrificing higher profits to make its network reliable during Eskom blackouts.… Read more »
October 02, 2023
South Africa: Pick n Pay Hopes Summers Will Bring the Sunshine to End Its Gloomy Winter
The retailer's share price plummeted on Monday after it issued a dire profit warning. Read more »
September 21, 2023
South Africa: Aspen's Novo Nordisk Deal a 'Feather in Our Cap' and an NCD Battle Boost - Top Executive
The success of the Danish company - Europe's second most valuable - is largely built on its weight-loss drugs. Read more »
September 14, 2023
South Africa: Sibanye Signals 3,000 Lay-Offs At Kloof As Operational Woes Trump Sky-High Gold Prices
Sibanye-Stillwater said on Thursday it was holding mandatory consultations that could see almost 3,000 workers laid off at its Kloof 4 shaft near Westonaria, western Johannesburg.… Read more »
September 12, 2023
South Africa: Share Price in Freefall As Transaction Capital CEO David Hurwitz Abruptly Axed
The troubled group just can't seem to catch a break. Read more »
September 07, 2023
South Africa: Retail Icon Raymond Ackerman Has Died
The retail giant's founder has left a profound mark on the local industry Read more »
September 05, 2023
South Africa: Shoprite-Checkers Eats Other Retailers' Lunch As It Posts Double-Digit Growth Over the Past Year
SA's biggest retailer is on a roll, planning to invest heavily in its supply chain, store refurbishments and ecommerce. Read more »
September 04, 2023
South Africa: Food Producers RCL, AVI and Sea Harvest Hit By Rolling Blackouts and Surging Operating Costs
Monday was 'food day' on the JSE as the three producers released results that could have been so much better if they weren't forced to hike prices to offset the cost of keeping the… Read more »
August 30, 2023
South Africa: Harmony Gold's Annual Earnings Soar As Mponeng, World's Deepest Mine, Delivers
The sun may be setting on South Africa's gold industry, but 3.8km below the surface, Harmony Gold is hitting pay dirt. The company's full-year earnings soared by 60%, lifted by… Read more »
August 27, 2023
South Africa: 'Countercyclical' Northam Platinum Pays First Dividend in Over a Decade in Face of Depressed PGM Market
Northam Platinum's earnings fell sharply in the year to 30 June in the face of a sour platinum group metals (PGMs) market, which is expected to remain depressed for some time. But… Read more »
August 24, 2023
South Africa: Standard Bank Renews Partnership With Industrial and Commercial Bank of China
Two of the biggest banks in their respective geographies have committed to building on their already successful 15-year partnership. Read more »
South Africa: South African Clothing Retailers Losing Lustre in Face of Shein Juggernaut
The China-based ultra low-cost fast fashion retailer might have a growing market in South Africa, but it's putting the squeeze on local retailers. Read more »
August 21, 2023
South Africa: Cumesh Moodliar to Take the Reins At Investec Bank
In an internal promotion, Cumesh Moodliar has been appointed as the new chief executive officer of Investec Bank, taking over from Richard Wainwright on 1 April 2024. Read more »
August 14, 2023
South Africa: Absa's Investment in Other African Regions Shores Up Group After Dismal SA Performance
Absa's share price slid almost 3.5% on Monday as the bank took a proverbial punch to the gut on the back of increasing customer defaults. Read more »
South Africa: MTN Spends Billions of Rands to Escape the Pain of Blackouts
MTN South Africa, a division of MTN Group, is prepared to spend between R4bn and R5bn in the next six to 12 months to make its network more efficient and resilient during Eskom… Read more »
August 07, 2023
South Africa: Spur Sees Profits Soar Despite Multimillion-Rand Tax Bill
The group said it had achieved a strong trading performance for the 2023 financial year, with franchised restaurant sales increasing by 23% on the previous financial year. Read more »