South Africa | - Part 45

Land Reform `Key’ for S. Africa Economic Stability, ANC Says

JOHANNESBURG (Capital Markets in Africa) – South Africa’s ruling party will accelerate the transfer of land to the black majority to help reduce inequality and avert future protests, the African National Congress’s spokesman Zizi Kodwa said. “If you don’t deal decisively with the issue of land, you may have to deal with a bigger problem,” Kodwa said in an interview at the party’s head office in Johannesburg on Wednesday. President Jacob Zuma has vowed to step up wealth distribution in…

South Africa rand hits near 19-mth high as Fed signals gradual tightening

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s rand hovered near a 19-month high against the dollar early on Thursday after the U.S. Federal Reserve raised interest rates on Wednesday, but signalled a gradual pace of rate hikes for the rest of the year. At 0646 GMT, the rand traded at 12.8125 per dollar, flat from its New York close on Thursday, after rallying to 12.77 late on Wednesday in the wake of the Fed’s…

Will Income Tax & Petrol Price Rises Trigger Debt Spirals in South Africa?

Posted on by The Editorial Team

Personal debt levels may have at long last begun to fall in South Africa, but future income tax and petrol price hikes have triggered fears that growing financial pressures on South African households could see this positive change reversed. What’s on the horizon? There are a number of upcoming financial challenges which may affect South African households in the coming year. This February, for instance, continuing fuel price rises are predicted to hit forecourts across…

The World a Better Place for South Africa for South Africa Investors

Posted on by The Editorial Team

JOHANNESBUGH (Capital Markets in Africa) – There are three big themes that we believe will dominate markets in the year ahead. These are Keynes is King, Reflation and South Africa Stabilises. The first two themes are about an improving world and better global growth, while the third theme is South Africa specific and has the biggest impact on the local asset classes in which we invest. Keynes is King The world has shifted. The big…

Preview of South Africa’s Budget Speech 2017

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The upcoming Budget will be a critical one given there is no more room for the upward revision of deficit targets as seen over the last few years. As a result of the current slow growth environment, the tax increases and expenditure cuts set in October’s Medium-term Budget have to be adhered to if Treasury is to deliver a positive Budget. This is according to Senior Economist, Johann Els,…

FirstRand First-Half Profit Rises 13% After Bank Boosts Lending

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – FirstRand Ltd., Africa’s biggest bank by market value, said fiscal first-half profit rose 13 percent after lending increased and its insurance operations sold more policies. Net income increased to 11.89 billion rand ($904 million) in the six months ended Dec. 31, from 10.48 billion rand a year earlier, the Johannesburg-based company said in a statement on Thursday. The interim dividend rose 10 percent to 1.19 rand a share, exceeding growth in so-called…

Old Mutual Full-Year Profit Slides as South Africa Economy Slows

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Old Mutual Plc, the U.K.-based insurance company, said full-year profit dropped 7.2 percent after the pound weakened after Britain’s decision to leave the European Union and its South African operations contended with the slowest economic growth since the 2009 recession. Net income declined to 570 million pounds ($693 million) in the 12 months through December from 614 million pounds a year earlier, the London-based company said in a statement on Thursday….

« 1 … 43 44 45 46 47 … 95 »