Reuters Africa Business

JOHANNESBURG (Reuters) – South Africa’s Tiger Brands will soon roll out solar power at its manufacturing sites, kicking off a multi-million rand investment into sustainable energy, the country’s biggest food producer said on Wednesday. Demand for sustainability has multiplied in the past few years as shareholders increasingly expect companies to take steps toward greater transparency …

South Africa’s Tiger Brands to roll out solar power at manufacturing sites Read More »

By Nyasha Nyaungwa WINDHOEK (Reuters) – Namibia’s central bank on Wednesday raised its main lending rate by 75 basis points to 5.50%, tightening policy further in response to rising inflation and matching a move by South Africa’s central bank last month. The Bank of Namibia typically mirrors rate decisions by the South African Reserve Bank …

Namibia raises lending rate, keeping pace with South Africa Read More »

(Reuters) -Sibanye Stillwater’s shares fell 5% on Wednesday after the miner said it expected its half-year profit to be halved citing a strike at its South African gold mines and flooding at its U.S. platinum group metal (PGM) operations which hit production. Sibanye said its headline earnings per share (HEPS) – the main profit measure …

S.Africa’s Sibanye warns on profit, shares tumble Read More »

(Reuters) – South Africa’s Exxaro Resources on Tuesday said it expects half-year profit to rise by as much as 32%, with higher coal prices and sales offsetting the impact of poor rail logistics. Exxaro expects headline earnings per share – the main profit measure for South African companies – to be between 32.11 rand ($1.95) …

S.Africa’s Exxaro expects coal-fired profit jump Read More »

(Reuters) – South African state utility Eskom said it would implement “Stage 2” rotational power cuts between 1600 and 2400 local time (1400 and 2200 GMT) on Tuesday, due to a shortage of generation capacity. Eskom in a statement also warned that there was a high probability of power cuts on Wednesday and Thursday evenings. …

South Africa’s Eskom to implement ‘Stage 2’ power cuts on Tuesday evening Read More »

LONDON (Reuters) – Kenya’s government bonds recovered some losses on Tuesday as the country braced for a legal battle over the presidential election win awarded to current deputy president William Ruto. The country’s 2024 maturing bond was up more than 2.6 cents in the dollar at 1000GMT, while others rose between 0.8 and 1.9 cents, …

Kenya’s bonds recover some losses after election dispute tumble Read More »

JOHANNESBURG (Reuters) – South Africa’s data-only network provider rain intends to submit a formal non-binding proposal to bigger rival Telkom in due course, it said on Tuesday, after retracting a media statement on its merger proposal sent last week. Last Thursday, the country’s Takeover Regulation Panel (TRP), a regulatory body, slammed rain for issuing a …

South Africa network provider rain to submit merger proposal to Telkom in due course Read More »