JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands said on Tuesday its four-month revenue to end January rose 17% year-on-year as it raised prices to manage soaring input costs. Consumer goods producers globally have lifted prices to cope with surging costs for almost all raw materials, energy and packaging after Russia’s invasion of …
South Africa’s Tiger Brands grows sales after price hikes Read More »
(Reuters) -Sibanye Stillwater expects its annual profit to have slumped by as much as 51%, it said on Tuesday, sending its shares down by almost 5%. Reflecting the impact of a three-month strike at its South African gold mines and floods at its U.S operations, the diversified mining company said it expects 2022 headline earnings …
Sibanye profit warning sends shares down almost 5% Read More »
By Nelson Banya (Reuters) -Integrated energy and chemicals firm Sasol Ltd anticipates financial as well as environmental benefits from its drive to use renewable energy for its operations, chief executive officer Fleetwood Grobler said on Tuesday. The world’s biggest producer of fuels and chemicals from coal and gas, is working to cut its emissions by …
Sasol says renewable energy drive makes economic sense Read More »
JOHANNESBURG (Reuters) – South African drugmaker Adcock Ingram said on Tuesday its margins would be under pressure over the next 12 months as a government-allowed price increase on regulated drugs would not be enough to cover the cost of local inflation and power cuts. In December, the government allowed a price increase of 3.28% on …
S.African drugmaker Adcock warns of margin pressure in coming months Read More »
By Elias Biryabarema KAMPALA (Reuters) – The Ugandan government has started to set up a national mining company that will aim to take equity stakes of up to 15% of all medium and large scale mining operations in the country, the minister for energy and minerals said on Tuesday. Ugandan geologists say the country has …
Uganda to set up state mining firm, take equity in licences Read More »
By Helen Reid JOHANNESBURG (Reuters) -Kumba Iron Ore Ltd on Tuesday cut its production outlook for the next three years due to a lack of freight trains to carry minerals to ports, and joined calls for private-sector involvement in state-owned logistics firm Transnet. South Africa’s freight rail capacity has plummeted as Transnet is hobbled by …
South Africa’s Kumba Iron Ore calls on private sector to resolve rail crisis Read More »
(Reuters) – Ratings agency Fitch on Tuesday downgraded Ghana’s long-term foreign-currency issuer default rating to ‘restricted default’, after the country missed the grace period to make a coupon payment on one of its eurobonds. Ghana on Friday missed making the $40.6 million coupon payment on its $1 billion 2026 eurobond, as part of the suspension …
Fitch downgrades Ghana to ‘restricted default’ after missing coupon payments Read More »
MELBOURNE (Reuters) -South African precious metals producer Sibanye-Stillwater, the biggest shareholder in Australian zinc miner New Century Resources, said it had launched an unsolicited takeover offer after losing confidence in the target’s board. The A$1.10 a share cash off-market offer values all of New Century at A$144.1 million ($99.54 million), a premium of almost 43% …
South Africa’s Sibanye-Stillwater launches takeover bid for Australia zinc miner Read More »
By Anait Miridzhanian JOHANNESBURG (Reuters) -South African power company Eskom expects record “Stage 6” outages, involving 10 hours daily without power, to remain until the peak hours late on Wednesday before they are reduced in intensity, Chief Executive Andre de Ruyter said on Monday. Eskom supplies the vast majority of power in Africa’s most industrialised …
Record South African outages to remain till Wed, Eskom says Read More »
JOHANNESBURG (Reuters) -The South African rand weakened against the dollar on Monday, at the start of a week in which fiscal policy will be in focus, with the finance minister due to present this year’s budget. At 1536 GMT, the rand traded at 18.1225 per dollar, 0.47% weaker than its previous close. The U.S. dollar …
South African rand slips; fiscal policy in focus this week Read More »
