Category: Southern Africa

South Africa’s rand traded firmer early on Friday, resuming a recent rally after stumbling in the previous session, boosted by renewed appetite for high-yield assets globally and investor unease over still-low interest rates in the United States. * Rand at 13.6000 to the dollar by 0650 GMT, 0.2 percent from Thursday’s close at 13.6225. *…

In an effort to connect and promote regular dialogue between South African individuals and entities with an interest in doing business within the Brazil, Russia, India, China, South Africa (BRICS) trade bloc, the South African chapter of the BRICS Business Council today launched the SA BRICS Business Council Portal. Following the BRICS Business Council’s agenda…

South Africans have been arguably living with a sword over their heads since the beginning of 2016: the imminent downgrade of the country’s sovereign credit rating to non-investment grade levels by global ratings agencies. Andrew Morton, Head of Advice at FNB Financial Advisory says most local investors and prudent advisors have already factored the potential…

South Africa’s rand firmed for a fourth consecutive session on Monday, gaining alongside fellow emerging currencies as the dollar stumbled ahead of an interest rate decision by the Federal Reserve later in the week. – Credit: CNBC Africa

South Africa’s Aspen Pharmacare Holdings reported a 23 percent drop in full-year profit on Wednesday as heavy losses from its Venezuelan business and a weak performance in its home market weighed on earnings. The firm has been expanding rapidly outside South Africa, where a heavily regulated pharmaceuticals market has put a cap on growth, and…

South African retail sales grew by 0.8 percent year-on-year in July, after expanding by a revised 1.4 percent in June, data from the statistics office showed on Wednesday. Analysts polled by Reuters had forecast a 2 percent year-on-year increase in July. On a month-on-month basis, sales fell by 0.4 percent, and were up 2 percent…

South Africa’s current account deficit narrowed more than expected in the second quarter, data showed on Tuesday, supporting Finance Minister Pravin Gordhan’s view that Africa’s most industrialised economy was not in “recession territory”. He warned, however, that surprising economic growth of 3.3 percent in the second quarter could not be sustained and pledged continued fiscal…

Treasury will soon engage the Ministry of Mines and Mining Development for a further downward review of mining fees. Presenting the Mid-Term Fiscal Policy last week, Finance and Economic Development Minister Patrick Chinamasa said the move was aimed at attracting new investment into the sector. “In order to encourage prospecting activities, as well as reducing…

DUE to a struggling economy, the fishing sector may face increased levies to finance the management of Namibia’s fishing sector. According to fisheries minister Bernhard Esau, investors were still running to the bank smiling because fish exports are at a high because of low fuel prices and a weak Namibia dollar, compared to other major…