South Africa | - Part 69

Century-Old Barloworld of South Africa Eyes New Regions for Growth

Johannesburg, South Africa, Capital Markets in Africa: Barloworld Ltd., the South African industrial company founded114 years ago selling woollen goods, will consider opportunities for expansion in East and West Africa as the distributor of Caterpillar Inc. equipment seeks to double revenue by 2020. Barloworld, which on Tuesday marked the 75th anniversary of its listing on the Johannesburg Stock Exchange, is seeking to grow annual sales to more than 120 billion rand ($9.1 billion) by 2020, Chief Executive Officer Clive…

South Africa’s ANC Leans to ‘Fiscal Populism’ After Vote Setback

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: South Africa’s ruling African National Congress is leaning toward more populist economic policies to win back support after its worst performance in an election since Nelson Mandela led the party to victory in a vote that ended apartheid in 1994. The ANC will press the government to prioritize creating jobs and alleviating poverty in the national budget at the four-day cabinet meeting that started Tuesday, Secretary General Gwede Mantashe said after the party’s top…

South Africa’s Rand Gains Offer South Africa’s Kganyago ‘Cushion’ on Rates

Posted on by The Editorial Team

South Africa, Capital Markets in Africa: The recent strength of South Africa’s rand is providing a cushion for the country’s policy makers and shouldn’t lead to complacency in tackling inflation, Reserve Bank Governor Lesetja Kganyago said. “The risks to the inflation outlook has to do with possible future weakness in the currency,” Kganyago told reporters at a central bank event in Pretoria on Thursday. “The fact that the currency has strengthened has not taken that way, it has…

Soutth Africa’s Rand Heads for Fourth Week of Gains as Johannesburg Stocks Rise

Posted on by The Editorial Team

Johannesburg, South Africa, Capital Markets in Africa: The rand strengthened for a fourth week against the dollar as investors seeking higher yields piled into South African bonds and stocks and data showed the continent’s biggest economy may avoid a recession this year. The rand was also set for a fourth weekly advance against Britain’s pound, the longest stretch since the four weeks to April 10, and poised for the biggest gain against sterling since the…

South Africa’s Aveng Rises by Record as JSE Sentiment on Construction Improves

Posted on by The Editorial Team

South Africa, Capital Markets in Africa: Aveng Ltd., South Africa’s largest construction company by sales, jumped by the most on record in Johannesburg trading after forecasting better earnings and as sentiment toward the industry improves. Aveng surged as much as 23 percent and was 17 percent higher at 5.52 rand by 11:43 a.m., taking its advance this week to 38 percent. The company said Aug. 10 it expects a smaller full-year loss. The seven-member FTSE/JSE Africa…

South Africa Sued to Protect Recipients of $9.7 Billion in Welfare

Posted on by The Editorial Team

JOHANNESBURG, Capital Markets in Africa: South Africa’s government is facing a counter legal challenge in a dispute with Net 1 UEPS Technologies Inc. with a rights group demanding that it protect welfare recipients from companies that are allegedly selling the nation’s poorest people goods and services they don’t need and deducting payments from grants paid to them by the state. Black Sash Trust, a human rights activist group, on Wednesday applied to the High Court in…

South Africa’s Economy Regains Rank as Africa’s Biggest on Rand

Posted on by The Editorial Team

Johannesburg, South Africa, Capital; Markets in Africa: South Africa’s economy regained the position of Africa’s largest in dollar terms more than two years after losing it to Nigeria as the value of the nations’ currencies moved in opposite directions. Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion. That’s…

« 1 … 67 68 69 70 71 … 95 »