Business News South Africa

  • MONDAY, SEPTEMBER 24 BANGKOK, Thailand- Bank of Thailand Governor Veerathai Santiprabhob speaks at a two-day BOT symposium 2018: The future of money, finance, and central banking- 0200 GMT. BRATISLAVA- Slovakia Central Bank Governor Jozef Makuch holds a news conference 1100 GMT. PRAGUE- Czech National Bank holds monetary policy meeting.

  • *Biggest jump for China bluechip stocks in over 2 years. Other possibilities included upcoming public holidays and an announcement by China's central bank that it will start issuing its bills in the former British colony which stoked speculation about a reduction in offshore yuan supplies. The big picture though was of broad-based healing as a weakening of...

  • PRETORIA, Sept 20- South Africa's central bank left its benchmark repo rate at 6.5 percent on Thursday, in a decision that exposed tensions among policymakers and within the ruling party as the country seeks to nurse an ailing economy back to health. The South African Reserve Bank meeting was closely watched after its emerging-market peers Turkey and Russia...

  • PRETORIA, Sept 20- South Africa's central bank left its benchmark repo rate at 6.5 percent on Thursday, with the bank's governor striking a more hawkish note than at the last rate meeting in July. The rate decision by the South African Reserve Bank was closely watched after its emerging-market peers Turkey and Russia raised their main lending rates.

  • PRETORIA, Sept 20- South Africa's central bank left its benchmark repo rate on hold at 6.5 percent on Thursday, in a tight call, with the bank's governor striking a more hawkish note than at the last rate meeting in July. The rate decision by the South African Reserve Bank was closely watched after emerging market peers Turkey and Russia raised their main lending...

  • CAPE TOWN, Sept 20- South Africa's cabinet approved a long-delayed mining charter that sets out requirements for black ownership levels and backed the withdrawal of a mining bill after industry opposition, a minister said on Thursday. Communications Minister Nomvula Mokonyane said more details about the charter would be announced on Friday by President...

  • ABUJA, Sept 19- Nigeria's central bank is reviewing information provided by MTN and four banks accused of helping the South African telecoms company to illegally repatriate $8.1 billion, with a view to reaching an equitable resolution, it said on Wednesday. Nigeria, which accounts for a third of MTN's annual core profit, is MTN's biggest market, but has proved to...

  • JOHANNESBURG, Sept 19- South African media and e-commerce group Naspers' plan to spin off Multichoice, Africa's biggest pay-TV business by subscribers, will free up cash for the unit to compete with fast-growing Netflix and other streaming services. This leaves Multichoice free to fend for itself in an increasingly competitive market where Netflix is...

  • JOHANNESBURG, Sept 19- The Johannesburg Stock Exchange wants to increase the minimum capital amount required for a primary listing and is considering stricter rules on secondary listings as it seeks to improve corporate governance. Africa's biggest securities exchange published its proposals in a public consultation paper circulated on Wednesday,...

  • JOHANNESBURG, Sept 19- South African media and e-commerce group Naspers' plan to spin off Multichoice, Africa's biggest pay-TV business by subscribers, will free up cash for the unit to compete with fast-growing Netflix and other streaming services. This leaves Multichoice free to fend for itself in an increasingly competitive market where Netflix is...

  • *Move aimed at mitigating capital flight. *Cabinet also agrees to extend MTN's operating licence. KAMPALA, Sept 18- Uganda will introduce a requirement for all telecoms firms to list shares on the local bourse as a condition for obtaining a licence to operate in the country, a government statement said on Tuesday.

  • JOHANNESBURG, Sept 17- South Africa's Naspers unveiled plans on Monday to spin off and list separately its pay-TV unit, its first major move aimed at narrowing a discount between its market value and the value of its stake in Chinese technology giant Tencent. The Tencent stake is worth around $155 billion, or 65 percent more than Naspers despite the company...

  • JOHANNESBURG, Sept 17- South Africa's President Cyril Ramaphosa said on Monday there would be no mass layoffs of public sector workers as his government considers various ways to pull the economy out of a recession that has rattled the rand and investor confidence. "The mass retrenchment of public sector workers is not under consideration," Ramaphosa said at...

  • JOHANNESBURG/ LONDON, Sept 14- Investec cheered investors on Friday with plans to spin off its asset management unit in a surprise restructuring ahead of the departure after four decades of the South African firm's founder and chief executive. The plan to float the asset management business on the London Stock Exchange with a secondary listing in...

  • JOHANNESBURG/ LONDON, Sept 14- South Africa's Investec plans to hive off and separately list its asset management unit in a restructuring that comes as the long-serving company founder leaves the financial services group. The bank plans to float the asset management business on the London Stock Exchange with a secondary float on the Johannesburg exchange.

  • JOHANNESBURG, Sept 14- Investec plans to hive off and separately list its asset management unit, it said on Friday, in a strategic overhaul that comes ahead of the departure of founder and boss of the Anglo-South African financial services group. "It is now the right time to demerge and list our asset management business to support it in the next phase of its...

  • *Turkey central bank ups rates 625 bps, boosting EM. *Stocks higher after four negative sessions, Aspen stock plunges. JOHANNESBURG, Sept 13- South Africa's rand raced to its highest in more than a week on Thursday, erasing all of the losses suffered after the economy slipped into recession, as a rate hike in Turkey and Moody's decision to hold fire on a downgrade...

  • *Aspen says will reduce debt, focus on pharmaceuticals. "The market expected Aspen to get $1 billion to $1.5 billion dollars," Cratos Capital equity trader Greg Davies said, adding that there is also some doubt over Aspen's stated growth expectations. FNB Wealth and Investments portfolio manager Wayne McCurrie said a "second disappointment" concerned Aspen's...

  • *Turkey central bank ups rates 625 bps, boosting EM. *Stocks fall for fifth straight day, Aspen stock plunges. JOHANNESBURG, Sept 13- South Africa's rand raced to its highest in over a week on Thursday, erasing all of the losses suffered after the economy slipped into recession, as a rate hike in Turkey and Moody's decision to hold fire on a downgrade boosted demand.

  • CAPE TOWN, South Africa— As gunshots ring out in one of South Africa's most dangerous neighborhoods, a new technology detects the gun's location and immediately alerts police. South Africa is the first country outside the United States to implement the "shotspotter" audio technology, which is also being used to fight wildlife poaching on the other end of the...