South Africa

South Africa

South African Rand: From Highs to Ashes

The South African rand reached its lowest point since late October, trading at 18.9 against the greenback. This sustained downward trend is attributed primarily to ongoing power outages, which are imp

Dec 04, 2023
Zimbabwe
Omnia Zimbabwe Challenges Tax Assessment on Foreign Currency Transactions

In a recent development, Omnia Zimbabwe, a prominent player in the chemicals industry, has contested an income tax assessment received from the Zimbabwean Revenue Authority (ZIMRA) on April 28, 2023.

 Nov 21, 2023
World
Zimbabwe’s Electricity Woes Pose Yuletide Gloom

Harare - Zimbabwe finds itself mired in an ongoing electricity crisis that shows no signs of abating, now expected to persist throughout the festive period. The situation is compounded by multiple fac

 Nov 16, 2023
South Africa
Commodity Blues: Glencore’s Q3 Production Takes Dive

Glencore Private Limited Company experienced a significant decline in production during the third quarter ended 30 November 2023, across several major commodities, with the exception of gold and coal.

 Oct 30, 2023
South Africa
Anglo American Reports Mixed Results in Q3 2023 Production

Anglo American plc, a global mining company, released its production report for the third quarter ended September 30, 2023. The report showcased a mixed performance across its various operations, with

 Oct 24, 2023
South Africa
Rand Commences Week on Lower Note

The South African Rand opened the week on a weaker note against the US dollar, despite the continued imposition of high interest rates. The currency was trading at 18.9 against the US dollar, approach

 Sep 25, 2023
Zimbabwe
Zimbabwe Operations Propel PPC's Performance

PPC Limited has reported a 3% growth in sales volumes for the five months leading up to August 31, 2023, as stated in the company's latest trading update. This positive performance was primarily drive

 Sep 22, 2023
Earnings Rollercoaster: Old Mutual Anticipates Mixed Results

Old Mutual Limited, a diversified financial services group, anticipates a combination of outcomes in its half-year results for the period ending on June 30, 2023. The Group foresees a decline in resul

Sep 14, 2023
Trading Lives for a Piece of Meat: But Why Cyril?

As a businessman invested in milk production, let's envision you as the owner of a company similar to Dairibord Zimbabwe Limited, the largest milk processor in the country. In this scenario, your most

Sep 13, 2023
Rand Slumps Amid Power Cuts, Controversial Foreign Policies

The South African rand has undergone a substantial decline, breaking the 19 mark and reaching its lowest level in almost three months, at US$19.2. This decline in the South African rand occurs concurr

Sep 06, 2023
Matias Cardarelli Appointed as PPC CEO: Charting a Course for Growth Amidst Challenging Times

With a deep understanding of the cement industry and a proven leadership skillset, Mr. Cardarelli is well-positioned to steer PPC towards sustainable profitability. His appointment follows a comprehen

Sep 04, 2023

Sibanye-Stillwater Faces Challenges Amidst Turbulent Economic Environment

The company's US PGM operations faced challenges due to a shaft incident and critical skills shortages, which affected productivity and unit costs. The global autocatalyst recycling industry also expe

Aug 29, 2023

Fostering Regional Energy Synergy: South Africa and Namibia Forge Strategic Partnerships

Harare - In a landmark ministerial-level meeting, South Africa and Namibia, both esteemed members of the Southern Africa Development Community (SADC), embarked on a collaborative exploration of energy

Aug 21, 2023

PPC Empowers Employees with Share Ownership

PPC, a leading company in the cement and materials industry, has announced the successful completion of an equity transaction that aims to benefit qualifying employees working for its subsidiaries in

Aug 08, 2023

South Africa's Forex Reserves Reach Record High

South Africa's foreign exchange reserves soared to an unprecedented US$62.21 billion in July 2023, surpassing the previous month's figure of US$61.55 billion and exceeding market predictions of $61.63

Aug 07, 2023

Tongaat Hulett's Sugar Division Acquired by Tanzania's Kagera Sugar: A Sweet Deal or Cause for Caution

Tongaat was recently at the centre of a storm involving accounts manipulation and gross mismanagement by the management, which dearly costed the company. Over the recent past, the Rudland brothers hav

Jul 25, 2023

Pick n Pay's H1 FY24 Trading Update Shows Good Progress Despite Load Shedding Costs

According to the report, Group sales for the first four and a half months of FY24 increased by 4.8%, with South Africa sales growth for this period at 4.4% (0.9% like-for-like).

Jul 20, 2023

Tharisa's Karo Platinum Project in Zimbabwe Set to Boost the Country's Economy and Cement its Position as a Key Player in the PGM Industry

The concrete foundation pouring is progressing well, with earthworks nearing completion. The pilot mining has commenced, and operational tests will soon begin. Long-lead items manufacturing is progres

Jul 19, 2023

Tharisa's Strong Q3 Production Report Boosts Balance Sheet

The report highlights the company's strong balance sheet, with cash on hand increasing by US$36.8 million to US$242.6 million, resulting in a net cash position of US$141.5 million, which will support

Jul 13, 2023