South Africa

Zimbabwe

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
Zimbabwe
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
South Africa
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
Zimbabwe
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
South Africa
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
World
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
South Africa
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

Accelerate Property Fund Lowers Distribution Guidance by More Than 15%

In the trading update, Accelerate said it now expects its distribution per share for the year ending 31 March 2023 to be more than 15% lower than the previous year's distribution. The company cited th

Jul 12, 2023

Surreal Incompetence: Rand Commits to Losses

The South African rand has taken a hit, depreciating by 2% week on week to trade at 18.8 against the US dollar. The country's power deficits have been the main driver behind the currency's poor perfo

Jul 07, 2023

Spear REIT delivers a steady first quarter performance

The REIT achieved an average rental reversion rate of 4.17% during the first quarter, up from 3.69% in the 2023 financial year. Its average annual rental escalation remained at 7.40%. Spear said tradi

Jul 05, 2023

Tongaat Hulett gets lifeline to keep operating

Tongaat Hulett, the embattled South African sugar producer under business rescue, announced this week that it had secured an extension of its post-commencement finance facility from its funders until

Jul 05, 2023

FirstRand Limited Maintains Earnings Expectations Despite Challenging Economic Environment

s previously guided, the group expects its credit loss ratio for the year to remain below its stated through-the-cycle range, given its targeted origination approach. The group's capital and liquidity

Jun 21, 2023

Standard Bank Group Expects Strong Earnings Growth Despite Challenging Economic Environment

Standard Bank Group's banking activities recorded revenue growth in excess of 20% higher than the same period in the previous year, driven by higher-than-expected average interest rates and good balan

Jun 20, 2023

City Lodge Hotels Limited sees rebound in tourism as demand patterns normalise

The average room rate has also rebounded, with high single digit percentage increases against the equivalent 2019 rates. The May year to date average room rate for 2023 is 12% higher than the prior co

Jun 20, 2023