South Africa

Zimbabwe

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
Companies
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
South Africa
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
Companies
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
Zimbabwe
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
South Africa
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
South Africa
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
Bank of Namibia raises interest rates to safeguard currency peg, despite impact on consumers

Windhoek - The Bank of Namibia's decision to increase the repo rate by 50 basis points, from 7.25% to 7.75%, with immediate effect, has left many Namibian consumers struggling to survive. The repo rat

Jun 19, 2023
PPC Releases Trading Update, Projects Drop in Earnings

Trading conditions remained difficult in South Africa, PPC’s largest market, with cement volumes down 5.8% although selling prices rose 8%. The smaller materials business suffered an EBITDA loss of R6

Jun 16, 2023
Nedbank in Solid Start to 2023

Nedbank warned that risks to its full-year outlook are rising from South Africa’s weakening economy, where growth has been hit by power cuts, weak global demand, and rising rates.

Jun 02, 2023

How South Africa's Ties with Russia Could Affect Zimbabwe's Economy and Trade

In the short term, Zimbabwean businesses may need to prepare for higher prices for imports from South Africa, and the government may need to monitor the situation closely to ensure that any potential

May 30, 2023

South Africa's Maize Boost Benefits Zimbabwe's Food Security

However, the two countries' experiences with maize production highlight the need for a more coordinated approach to agricultural development in the region. South Africa's success in increasing maize p

May 26, 2023

Unlocking Alternative Energy Sources: Shale Gas Exploration in South Africa

It is also important for Zimbabwe to explore other renewable energy sources such as solar and wind power, which are becoming increasingly cost-effective and accessible. In particular, decentralized re

May 19, 2023

MTN's Plan to Revolutionize Internet Connectivity in Africa

However, there are challenges that must be overcome to ensure the success of these initiatives. One of the biggest challenges is the lack of regulatory frameworks and policies that support the growth

May 16, 2023

Standard Chartered's Warning: South Africa's Fossil Fuel Shift and Zimbabwe's Energy Future

The shift away from fossil fuels is a global trend that is being driven by a range of environmental and economic factors. For countries like South Africa and Zimbabwe, which are heavily reliant on fos

May 15, 2023

Takealot’s Mr D drives Pick n Pay sales

South Africa’s 2nd largest retailer Pick n Pay said its online sales volumes significantly soared after hopping onto the Mr D’s delivery app. The company achieved total online sales growth for the yea

May 11, 2023

Harmony Gold reports strong operational performance for 9M FY23.

Electricity challenges in South Africa will likely have a significant adverse impact on Harmony's operations in the near term, particularly its cost of production. The country has been experiencing fr

May 10, 2023