News - CNBC Africa

Southern Africa

South Africa's business confidence hits 16-year low, weakens rand

03/09/2015 12:54:23

South Africa's business confidence fell to its lowest level in more than 16 years.

S.Africa's Sanlam posts lower H1 profit growth, home market struggles

03/09/2015 08:38:32

Sanlam posted a slower first-half profit growth on Thursday as high personal debt levels hit consumer's disposable income.

South African economy facing growth constraints: finmin

03/09/2015 07:06:52

Finance Minister Nhlanhla Nene says volatility in capital flows and the foreign exchange rate were adding to economic challenges.

South African airlines to cancel order for 10 Airbus aircraft: CFO

02/09/2015 14:53:40

South African Airlines is close to finalising the cancellation of a contract to supply 10 Airbus A320 aircraft.

Western Africa

Ghana’s Accra expected to be hub for rich people

03/09/2015 08:08:02

This is why...

African Development Bank chief to focus on powering Africa

02/09/2015 07:52:03

Energy poverty on the continent has to be solved as a matter of urgency says AfDB president Adesina.

Innovation in Nigeria to combat healthcare issues

01/09/2015 18:40:06

Nigeria is coming up with innovative ways to tackle it's healthcare issues.

IMF approves second disbursement to Ghana: sources

01/09/2015 08:08:40

The IMF's board on Monday approved the second disbursement under Ghana's three-year support programme.

East Africa

Will nuclear energy ease Kenya's power shortages?

02/09/2015 10:38:09

Is Kenya making the right steps as the country moves towards nuclear power.

Kenya targets Japanese markets

01/09/2015 13:14:12

How is Kenya closing the trade imbalance gap with Japan?

Kenya's parliament rejects proposal to raise bank capital requirement

28/08/2015 18:05:59

Analysts said the move could have forced mergers and acquisitions as smaller banks sought partners to survive.

Burundi's July inflation slightly up

28/08/2015 17:48:12

Economic analysts see a worsening economic situation in the future.

Financial

S.Africa's rand recovers footing but weak economy a risk

02/09/2015 08:43:18

S.Africa's government bonds edged higher on Wednesday and the rand was on a slightly firmer footing against the dollar.

Europe shares set to follow Asian losses as China PMIs stoke growth fears

01/09/2015 08:55:43

European markets look set to follow China losses after surveys shows China's manufacturing sector in the grip of its worst slump in years.

South Africa's rand gains but remains vulnerable to hawkish Fed

01/09/2015 08:38:22

S.Africa's rand recovered to the dollar on Monday after the greenback sagged ahead of a slew of data due this week.

South Africa's rand slips as U.S. Fed hike bets return

31/08/2015 08:44:54

S.Africa's rand traded weaker against the dollar early Monday after the Federal Reserve's vice chair the u.s may raise rates in September.

Industrials

South Africa's MTN expects lower H1 earnings, shares drop

28/07/2015 12:27:01

Shares in South Africa's MTN fell 5 percent as the company said it expects a drop in first-half earnings, blaming a weaker exchange rate.

Fuel retailer Total Nigeria's H1 pretax profit rises

28/07/2015 12:14:49

Total Nigeria, the local unit of France's Total, reported a 7.6 percent rise in pre-tax profit to 3.68 billion naira ($19 million).

South Africa's Pick n Pay plans new stores, jobs

27/07/2015 16:21:07

South Africa's Pick n Pay plans to employ 5,000 people a year as it opens new stores in Africa's most advanced economy.

ArcelorMittal's South Africa unit asks govt to impose steel protection tariff

23/07/2015 16:24:08

Africa's biggest steel maker ArcelorMittal South Africa said unless the government imposes tariff duties to counter cheap Chinese steel

Mining

South Africa's Impala FY profits plunge, plans to raise capital

03/09/2015 08:28:32

Impala Platinum on Thursday posted a 58 per cent drop in full-year earnings as it recovers from a lengthy strike.

Gold down for 4th day as U.S. data boosts stocks, dollar

28/08/2015 08:14:59

Gold eased on Thursday, headed for its biggest weekly rout since March, as upbeat U.S. growth and jobs data drove up stocks.

South Africa's Impala Platinum sees lower full-year earnings

25/08/2015 09:09:07

Impala Platinum flagged lower full-year earnings, mainly due to efforts to ramp up output at its South African mines.

Gold Fields back in profit, South Deep still problematic

20/08/2015 08:26:11

Gold Fields swung back into the black in the second quarter but cut the production outlook for its problematic South Deep mine.

Resources

South Africa's Saldanha Bay crude depot full: sources

27/07/2015 10:18:25

South Africa’s 45 million barrel strategic crude reserve depot is filled to capacity

South Africa’s taps are fast running dry

07/05/2015 10:24:23

As if the power crisis was not enough, South Africa has tumbled into another one where citizens could find themselves without water.

Exxaro CEO Sipho Nkosi to retire, appoints CEO-designate

30/03/2015 14:43:52

Exxaro has appointed a CEO-designate following the announcement that its current CEO, Sipho Nkosi is set to retire.

BP and partners to invest $12 bln in Egypt gas deal

06/03/2015 14:37:18

The investment project by BP and its partners is expected to help Egypt as it tackles its worst energy crisis in decades.

Technology

S.African mobile operator MTN agrees deal to end two-month strike

16/07/2015 14:16:53

MTN Group and union leaders reached a deal over bonuses on Thursday, ending a two-month strike.

Now or never: Why timing matters in making the jump to ecommerce

12/06/2015 11:27:15

Digital Planet CEO Neil Watson makes the case for adding an online sales channel before it’s too late.

S.Africa's Telkom to cut 4,400 jobs to contain costs: spokeswoman

10/06/2015 08:29:50

Telkom spokeswoman said her company plans to cut 4,400 jobs to contain costs.

Striking MTN workers reject performance targets

01/06/2015 17:48:22

A strike by workers demanding higher pay has forced MTN Group to close some of its South African customer help centres.

IPO

Choppies lists on the JSE

27/05/2015 17:47:09

Choppies listed on the JSE and it is aiming to open 200 stores in Africa by the end of next year.

Greenstone IPO at $783 mln set to Australia's biggest for year so far

25/05/2015 09:40:00

S.Africa owned insurer Hollard Group plans to raise nearly A$1 billion ($783 million) by listing its Australian unit Greenstone Pty Ltd.

Virgin Active warms up to Johannesburg IPO: Sky News

06/02/2015 10:47:02

Virgin Active has hired Standard Bank Group to list the British health and fitness chain on the Johannesburg Stock Exchange.

African IPOs set to rise by a quarter in 2015: law firm

23/01/2015 12:02:50

The number of African companies listing shares could rise by a quarter this year if the firms that have said they plan an IPO move ahead.

Currencies

S.Africa's rand gains, supported by hopes of Greek breakthough

22/06/2015 10:06:44

The rand inched close to a one-month high on Monday as hopes of a breakthrough in the Greek debt crisis supported emerging markets assets.

Kenya's shilling hits 3-year low, shares rise

05/05/2015 17:27:37

Kenya's shilling weakened against the dollar on Tuesday.

S.Africa's rand gains, eyes on Greece, power cuts

20/04/2015 10:53:31

South Africa's rand was a tad stronger against the dollar early on Monday as China's move to cut reserve requirements lifted sentiment.

S.Africa signs $4.8 bln currency swap with China

10/04/2015 10:45:51

South African Reserve Bank said on Friday it has signed a three-year bilateral swap agreement with the People’s Bank of China.

Commodities

Initial investment in Eni mega gas field in Egypt about $3.5 bln: EGAS

31/08/2015 15:48:56

Egypt said that the initial investment in a mega gas field discovered off its coast will amount to about $3.5 billion.

Heineken, Diageo end joint ventures in South Africa, Namibia

28/07/2015 12:21:00

Dutch brewer Heineken and spirits maker Diageo have agreed to end their 11-year cooperation in South Africa and Namibia.

South Africa's June headline CPI quickens to 4.7 pct

22/07/2015 11:47:28

South Africa's headline consumer inflation quickened to 4.7% year-on-year in June, well below expectations, compared to 4.6 percent in May.

South Africa's rand firms as commodity prices recover

21/07/2015 16:58:55

South Africa's rand strengthened against the dollar on Tuesday supported by a recovery in commodity prices.

Stocks

China data sends stocks to 2-year low, currencies suffer more

21/08/2015 16:01:02

Disappointing China factory data clobbered emerging market assets on Friday with stocks on track for their steepest weekly loss.

Stronger U.S. growth lift Asian stocks in early trade

30/07/2015 10:25:04

Prospects of stronger U.S. growth in coming months lifted Asian stocks in early trade, with Japan's Nikkei up 1.1 percent.

Asian shares wilt in shadow of Wall Street's earnings woes

22/07/2015 11:14:20

Asian stocks skidded on Wednesday after weak earnings dragged down U.S. equities.

Euro sharply down as Greece crisis deepens, default looms

29/06/2015 07:02:04

Emerging market stocks are headed for the steepest drop in two years as Greece is strike a deal with lenders.

Video

News

    Impala Platinum FY numbers with CEO, Terence Goodlace

    Thu, 03 Sep 2015 14:36:55 GMT

    Impala Platinum plans to raise R4 billion to fund the development of two shafts at its strike-ridden South African operations.

    What can SA learn from the Greek debt crises?

    Thu, 03 Sep 2015 14:33:09 GMT

    Forbes Woman Africa spoke to Maria Diamantopolou, Greek Ambassador to South Africa about Greece's economic situation and lessons South Africa could learn.

    Financial health of SA businesses worsen

    Thu, 03 Sep 2015 14:07:14 GMT

    The latest Experian Business Debt Index (BDI) has revealed that the financial health of South African businesses has fallen to its lowest point since the financial crisis in 2009.

    Kenya's NSE to hold its first charity trading day

    Thu, 03 Sep 2015 13:47:45 GMT

    Nairobi securities exchange (NSE) in partnership with ICAP will hold its first charity trading day on its trading floor on Friday September 4th 2015, with funds raised going towards wildlife conservation efforts to save Rhinos.

    Conserving Rwanda now and for the future

    Thu, 03 Sep 2015 13:34:31 GMT

    The Rwanda Development Board will this weekend host the 11th annual Gorilla Naming Ceremony or locally known as Kwita Izina.

    Kenyan shilling drops to 4-yr low against dollar

    Thu, 03 Sep 2015 13:34:29 GMT

    Kenya's shilling has hit a four year low to the dollar.

    Nigeria raises N173bn in Treasury bills

    Thu, 03 Sep 2015 13:17:44 GMT

    Nigeria raised 173 billion naira or 869 million dollars in Treasury bills with maturities of three months to one year with mixed returns at Wednesday's auction.

    How do foreign fund managers view investments in West Africa?

    Thu, 03 Sep 2015 12:55:35 GMT

    How do foreign fund managers view the investments opportunities in West Africa's equity markets?

    Nigerian stocks slide on profit taking

    Thu, 03 Sep 2015 12:52:11 GMT

    After a good start to the week, stocks in Nigeria continue to decline today. For the second straight session, stocks fell on profit taking.

    Tiger Brands - Today's stocks pick within the food producers sector

    Thu, 03 Sep 2015 12:49:47 GMT

    Tiger Brands is one of the largest manufacturers and marketers of consumer products in Southern Africa.

    Dangote slashes price of cement

    Thu, 03 Sep 2015 10:00:04 GMT

    Dangote Cement has announced a review of its strategy including a product price slash in Nigeria as well as plans to increase its production capacity across the continent by 26 million tonnes per annum.

    What investors want from Cote D'Ivoire's elections

    Thu, 03 Sep 2015 09:52:54 GMT

    The investment appeal of Cote D'Ivoire, one of the fastest growing economies on the continent, will be tested next month as Ivorians go to the polls to elect their next president.

    Nigerian state oil company to split its downstream subsidiary

    Thu, 03 Sep 2015 09:47:17 GMT

    Nigeria's state oil company chief said on Wednesday that its downstream arm, the Pipeline and Products Marketing Company, would be split into three as part of an extensive overhaul of the group.

    How S.Africa can accelerate its use of renewable energy

    Thu, 03 Sep 2015 09:35:33 GMT

    South Africa's energy grid will remain constrained for at least the next four years until its costly coal power stations come online.

    SA leads the continent in mergers & acquisitions

    Thu, 03 Sep 2015 09:26:32 GMT

    South Africa leads the continent in attracting mergers and acquisitions with pharmaceuticals, telecoms, energy and manufacturing earmarked for greater levels of consolidation.

    Boosting power generation capacity in Rwanda

    Thu, 03 Sep 2015 09:07:44 GMT

    In an effort to boost Rwanda's power generation capacity, the government leased 22 micro-power projects to private developers over a period of 25 years.

    Nigeria's services sector records GDP growth

    Thu, 03 Sep 2015 07:14:57 GMT

    Nigeria's services sector recorded real GDP growth of 4.7 per cent year-on year in the second quarter of the year, down from 7 per cent in the corresponding period of 2014.

    Nigeria's macro outlook

    Thu, 03 Sep 2015 07:14:56 GMT

    Lower oil revenues and the prospect of further naira depreciation are some of the issues worrying investors about Nigeria's macroeconomic outlook.

    AngloGold Ashanti and Barrick remain broadly comparable at Baa3 - Moody's

    Thu, 03 Sep 2015 07:07:38 GMT

    According to a Moody's Investors Service report, AngloGold Ashanti (rated Baa3 negative), the world's third-largest gold producer by volume, remains comparable to similarly rated market-leader, Barrick Gold Corporation (rated Baa3 stable).

    Gold added to overnight losses

    Thu, 03 Sep 2015 06:45:11 GMT

    Gold added to overnight losses, hurt by a stronger dollar and as investors await a key U.S jobs report to gauge the timing of a Federal Reserve rate hike. Meanwhile Rio Tinto predicted global iron ore demand will grow by 2 per cent a year by 2030.

    Sanlam's H1 HEPS up

    Thu, 03 Sep 2015 06:35:44 GMT

    Sanlam's half-year normalised headline earnings per share is up 4 per cent. Sanlam Deputy CEO, Ian Kirk joins CNBC Africa for more.

    Kenyan shilling under pressure

    Thu, 03 Sep 2015 06:06:53 GMT

    Kenya's shilling continues to come under pressure due to dollar demand from firms. Also, listed real estate firm Home Afrika which has been making losses has fired its CEO.

    Homechoice International - Hot or Not

    Thu, 03 Sep 2015 04:31:53 GMT

    Homechoice International is a credit-based home shopping retailer that was established by Rick Garratt in 1985. It was re-listed on the JSE in July 2014. It has a market cap of R3.6 billion, a PE of 10.1 and a dividend yield of 4.6 per cent.

    Lewis - Hot or Not

    Thu, 03 Sep 2015 04:31:52 GMT

    Lewis mainly sells goods on credit through the Lewis, Best Electric and My Home brands. It has a market cap of R6.0 billion, a PE of 7.02 and a dividend yield of 8.34 per cent.

    LG Electronics - Hot or Not

    Thu, 03 Sep 2015 04:31:52 GMT

    LG Electronics is listed in Korea, and is the world's second largest TV manufacturer. It also makes mobile phones and air conditioners. It has a market cap of approximately USD 65.1 billion, a PE of 22.8 and a dividend yield of 0.92 per cent.

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Markets

  • All Share50,327.67
     
    3.6%
    Financial 1516,279.00
     
    2.77%
    Industrial 2565,054.00
     
    4%
  • ZAR/EUR15.03
     
    1.05%
    ZAR/GBP20.62
     
    1.44%
    ZAR/USD13.56
     
    2.21%
  • Brent Crude Oil51.9
     
    -4.06%
    GOLD USD/oz1,124.0
     
    -1.59%
    Platinum USD/oz1,012.1
     
    0.75%
Price%Change
JSE All Share Index50,327.67Up3.6%
JSE Financial 1516,279.00Up2.77%
JSE Industrial 2565,054.00Up4%
JSE Resources 1036,517.24Up6.44%
JSE Top 4044,753.41Up3.96%
Price%Change
ZAR/EUR15.03Up1.05%
ZAR/GBP20.62Up1.44%
ZAR/USD13.56Up2.21%
Price%Change
Brent Crude Oil51.9Down-4.06%
GOLD USD/oz1,124.0Down-1.59%
Platinum USD/oz1,012.1Up0.75%

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