ArcelorMittal South Africa says cuts power usage

ArcelorMittal South Africa loss deepens

 ArcelorMittal South Africa reported a deeper first-half loss on Thursday but forecast growth in steel demand in Africa in the second half. Headline losses grew...

Uber founder Travis Kalanick resigns as CEO

Uber CEO Travis Kalanick has resigned.

South Africa’s Steinhoff reports rise in H1 profit, revenue

TJ Strydom | JOHANNESBURG South Africa-based retail group Steinhoff International reported a 13 percent rise in half-year operating profit and a 48 percent jump in...

South Africa’s PPC’s FY profit slumps on S&P downgrade

South African cement maker PPC reported a 93 percent decline in full-year earnings.

South Africa’s Spar Group reports slip in H1 profit

Nqobile Dludla | JOHANNESBURG South African retailer and wholesaler Spar Group on Wednesday reported a small fall in half-year earnings per share after issuing shares...

Econet Wireless Zimbabwe posts 10 pct fall in full year profit

Econet Wireless, Zimbabwe's biggest mobile telecoms company, reported a 10 percent fall in after-tax profit.

Drop in India, Kenya tea output brews price rises

The price of tea is likely to climb further this year after dry weather slashed production of the commodity.

South Africa’s Famous Brands scraps full-year dividend

South African fast food group Famous Brands scrapped its dividend on Monday for the first time in 13 years, seeking to conserve capital after debt levels rose following seven acquisitions, which include Gourmet Burger Kitchen.

Zimbabwe’s OK grocery chain posts 800 percent rise in full-year profit

Zimbabwe's largest grocery chain OK Zimbabwe posted an 800 percent jump in full-year after tax profits.

South Africa’s Investec reports 17 percent full-year profit jump

South Africa's Investec reported a 17 percent rise in annual profit on Thursday buoyed by its asset management and specialist banking businesses.

Lonmin to move Johannesburg office to Marikana operations

Platinum producer Lonmin will move its head offices from Johannesburg to its Marikana operations in South Africa in a move that will save it "tens of millions" of rand, Chief Executive Ben Magara said on Monday.

MTN records higher Q1 revenue on strong data

Data revenue, which contributed 20 percent of total revenue, was up 29.4 percent for the three months ended March 31.

Libya’s oil production hits highest output since 2014 – NOC

Libya's oil production has risen above 760,000 barrels per day (bpd), its highest level since December 2014, the National Oil Corporation (NOC) said on Monday.

Nintendo’s comeback is starting to take hold as it forecasts a 121% profit surge...

Nintendo is aiming for operating profit of 65 billion yen this fiscal year, which if realized, would represent a 121 percent rise from the 29.4 billion yen operating profit it reported for the year ended March 31, 2017.

World Bank sees sub-Saharan Africa GDP growth up in 2017 after poor 2016 performance

Economic growth in sub-Saharan Africa is seen rising between this year and 2019, helped by better commodity prices and improved global conditions, the World Bank said in a report on Wednesday.

South Africa’s Pick n Pay posts rise in full-year profit

South Africa's Pick n Pay posted an 18 percent rise in full-year profit on Wednesday, as the grocer cut costs while consumers struggle in its home market.

Ecobank shares fall after African lender reports full-year loss

Shares in Ecobank fell 5 percent on Tuesday after the pan-African lender reported a loss for 2016, blaming a recession in Nigeria - its main market - and a strong U.S. currency.

South Africa’s Capitec FY profit up as client numbers climb

South Africa's Capitec Bank reported an 18 percent rise in full-year profit on Tuesday as the lender continues its push into transactional banking. Capitec, which...

South African insurer Sanlam posts 6 pct fall in FY profit

Sanlam Ltd, South Africa's biggest life insurer, reported a 6 percent decline in annual profit on Thursday, dragged down by unfavourable currency moves and...

South Africa’s Aspen posts 6 pct rise in H1 profit

South African drugmaker Aspen Pharmacare Holdings Ltd reported a 6 percent rise in first-half profit on Thursday, helped by the results of a recently...