Shoprite has recorded a record dividend after a good run of results last year that will see South Africa’s largest retailer pay a dividend of 544c per share equal to R3.2 billion representing an increase of 42% from 2020, reports Business Day. The excellent results will see one of the retailer’s largest shareholders and former …
Christo Wiese to receive more than R340m after record Shoprite dividends Read More »
Mediclinic, one of South Africa’s largest medical groups will invest vast amounts of money to the tune of R2.2 billion to reach carbon neutrality by the year 2030, reports Business Day. The group said it had signed a deal with Energy Exchange that would see the medical facilities under the hospital group coupled up to …
(Bloomberg) — South Africa may limit the use of public amenities to the people who have been vaccinated against Covid-19, the country’s health minister said. While a decision hasn’t been taken it is being discussed by the government, Joe Phaahla, the minister, said in the National Council of Provinces on Tuesday. The Department of Labour …
South Africa Considers Limiting Public Amenities to the Vaccinated Read More »
(Bloomberg) — Nomura Holdings Inc. told its staff in Japan not to smoke during working hours — even if they’re working from home. The country’s biggest brokerage sent a memo to employees outlining the new policy that will come into effect in October, spokesman Yoshitaka Otsu said by phone. The company will close all smoking …
Nomura Tells Staff Not to Smoke Cigarettes When Working From Home Read More »
(Bloomberg) — Zambian President Hakainde Hichilema’s government is trying to uncover the full extent of its obligations as it prepares to seek a bailout from the International Monetary Fund and begin talks to revamp the African nation’s debt. Hichilema’s landslide victory in the election last month placed him in control of an economy with a …
Zambia’s New President Pledges to Uncover Country’s True Debt Burden Read More »
(Bloomberg) — Higher-yielding emerging-market government bonds outperformed their global peers in August, defying the prospects for higher borrowing costs as the Federal Reserve moves toward reducing monetary stimulus. Fixed-income securities issued by South Africa, Turkey, Indonesia and India posted the biggest gains among 46 sovereign markets tracked by Bloomberg, returning at least 1.2% last month, …
Taper Welcomed by Risky Emerging Bonds With World-Beating Rally Read More »
(Bloomberg) — The U.K.’s Financial Reporting Council filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees of the accounting firm over past audits of two U.K. companies. KPMG and the charged individuals provided “false and misleading information” and documents to the FRC during its review of two KPMG audits, …
KPMG Accused of Supplying ‘False and Misleading’ Data to FRC Read More »
(Bloomberg) — Andrew Forrest, the billionaire founder of iron ore giant Fortescue Metals Group Ltd., upped his bid to acquire a nickel miner active in Canada’s highly-prospective Ring of Fire region to trump an offer from BHP Group. Forrest’s Wyloo Metals Pty Ltd. offered to buy Noront Resources Ltd. for C$0.70 per share in cash, …
Mining Magnate Trumps BHP in Duel for Canadian Nickel Group Read More »
(Bloomberg) — Steinhoff International Holdings NV said U.S. bedding chain Mattress Firm is considering a public share listing as a means of returning cash to shareholders. The move is one of a number of options being weighed and a final decision hasn’t been made, Steinhoff said in a statement on Tuesday. The South African retailer, …
Steinhoff Says U.S. Unit Mattress Firm May Sell Stock in IPO Read More »
(Bloomberg) — Nigerian banks are some of the cheapest stocks in Africa, more evidence of how a shortage of dollars in the continent’s largest economy is discouraging foreign investors. Four of the five African stocks with the lowest price-earnings ratios among companies valued at $500 million or more are Nigerian lenders, data compiled by Bloomberg …
Dollar Crunch Turns Nigerian Banks Into Africa’s Cheapest Stocks Read More »
