Reuters Africa Business

South Africa’s Woolworths resumes dividend despite H1 profit drop

2 Mar 2022

By Nqobile Dludla JOHANNESBURG (Reuters) -Woolworths Holdings on Wednesday resumed its interim dividend despite reporting a 35.6% slump in half-year profit, as the South African retailer was badly affected by civil unrest at home and extended coronavirus lockdowns in Australia. The retailer also forecast annual turnover of 15 billion-16 billion rand ($1 billion) by its …

South Africa’s Woolworths resumes dividend despite H1 profit drop Read More »

S.Africa’s Standard Bank expects up to 60% rise in annual profit

2 Mar 2022

(Reuters) – South Africa’s Standard Bank Group Ltd said on Tuesday it expects a 50% to 60% jump in full-year profit thanks to a recovery in the economy from the pandemic-induced slump. The bank forecast headline earnings per share – the main gauge of corporate profit in South Africa – between 1,503.9 cents and 1,604.2 …

S.Africa’s Standard Bank expects up to 60% rise in annual profit Read More »

Johannesburg Stock Exchange reports 6% drop in annual profit

1 Mar 2022

JOHANNESBURG (Reuters) -The Johannesburg Stock Exchange Ltd (JSE) on Tuesday reported a 6% drop in profit for 2021, mainly due to declining interest income. The company, which runs the biggest stock exchange in Africa, posted annual headline earnings per share (HEPS) of 878.9 cents ($0.5721) against 936.7 cents a year earlier, as its net finance …

Johannesburg Stock Exchange reports 6% drop in annual profit Read More »

Nomadic Bedouins set up camp by the housing blocks of Egypt’s Nile Delta

1 Mar 2022

KAFR EL-SHEIKH, Egypt (Reuters) – With the roads and brick housing blocks of Egypt’s densely populated Nile Delta in the distance, Elsayed Abuhamed and his family have pitched their tents in a field scattered with straw, tied up their livestock, and are cooking over an open fire. They are part of the El Dawaghra tribe, …

Nomadic Bedouins set up camp by the housing blocks of Egypt’s Nile Delta Read More »

South African rand slips as Ukraine-Russia crisis keeps nerves high

1 Mar 2022

JOHANNESBURG (Reuters) -The South African rand weakened slightly against the U.S. dollar on Tuesday, as markets remained on edge following Russia’s invasion of Ukraine. At 1503 GMT, the rand stood at 15.3600 against the dollar, down 0.18% versus its previous close. The rand had weakened more than 2% on Monday to hit 15.4933, as the …

South African rand slips as Ukraine-Russia crisis keeps nerves high Read More »

S.Africa’s PSG Group to offload $1.2 billion stake in units to investors

1 Mar 2022

By Promit Mukherjee JOHANNESBURG (Reuters) – South Africa’s PSG Group Ltd, controlled by one of the country’s richest men Johannes Mouton, plans to distribute $1.2 billion of shares in subsidiaries to shareholders, seeking to close the gap between the value of its assets and stock. The move, which CEO Piet Mouton called the “end of …

S.Africa’s PSG Group to offload $1.2 billion stake in units to investors Read More »

South Africa’s Impala Platinum posts 9% drop in half-year profit

1 Mar 2022

HARARE (Reuters) – South Africa’s Impala Platinum Ltd on Tuesday posted a 9% decline in half-year profit, as work stoppages and power outages hit production. Impala’s headline earnings per share (HEPS) – the main measure of corporate profit in South Africa – fell to 16.90 rand ($1.10) for the half-year that ended Dec. 31 from …

South Africa’s Impala Platinum posts 9% drop in half-year profit Read More »

World Bank sees Tanzania’s economy expanding up to 5.5% this year

1 Mar 2022

(Removes extraneous word from the headline) DAR ES SALAAM (Reuters) – The World Bank predicts Tanzania’s economy to expand between 4.5% to 5.5% this year compared to 4.3% in 2021, as a rollback of coronavirus-related restrictions in many countries boosts tourism and trade, its country director said on Tuesday. After initially downplaying the severity of …

World Bank sees Tanzania’s economy expanding up to 5.5% this year Read More »

Congo court appoints temporary administrator to run China Moly’s Tenke mine

1 Mar 2022

By Aaron Ross DAKAR (Reuters) -A court in Democratic Republic of Congo on Monday appointed a temporary administrator from state miner Gecamines to run China Molybdenum’s Tenke Fungurume mine amid a dispute between the shareholders over reserves of copper and cobalt. The dispute started last August when Congo’s government announced it had formed a commission …

Congo court appoints temporary administrator to run China Moly’s Tenke mine Read More »

Close Bitnami banner
Bitnami