Sout Africa’s largest composite insurance group, Sanlam said it has sold off its 40% equity in Ghana’s Enterprise Insurance. For selling its stake in Enterprise Insurance, Sanlam received a monetary value of USD130 million. However, the company will remain in Ghana which means Sanlam will now be competing with its […]
Africa’s largest tech investor and the most valuable company, Naspers is reporting a 41% rise in its headline earnings for the year to USD1.8 billion. Full group revenue rose by 19% on a year on year basis to USD14.6 billion. Using the local currency of South Africa, Naspers said its […]
The Johannesburg stock exchange (JSE) has listed a cash settled merino wool futures contract on its Commodity Derivatives Market. The contract allows farmers and wool buyers to protect themselves against movements in the wool price. This follows the recent listing of a lamb carcas futures contract which tracks the price […]
A sudden wave of resignation has hit MMI Holdings as Chief Operating Officer Danie Botes and Chief Executive of Momentum Retail Etienne de Waal have resigned to pursue other interests. The company said Both Danie and Etienne were with the group for more than 20 years and leave a lasting […]
The Eskom Board wishes to announce the appointment of Mr Johnny Dladla as acting Group Chief Executive with immediate effect. This follows intense consultations between the Minister and Eskom Board to arrive at a prudent choice. Both parties are of firm belief that Dladla’s experience and expertise will stabilize Eskom […]
Naspers said its wholly-owned subsidiary, Myriad International Holdings B.V. will be exploring the possibility of an international USD bond offering by meeting potential investors on a roadshow. Naspers said proceeds from the offering if completed, are expected to be used for general corporate purposes and to repay MIH B.V.’s existing […]
Jasco Electronics has appointed Mr Thapelo Petje and Mrs. Samantha Samuels as executive directors of Jasco with effect from 19 June 2017. The company said Both Thapelo and Samantha have been members of Jasco’s executive committee since 2011 and 2012 respectively. Thapelo Petje joined Jasco in 2011 and heads up […]
Servest has appointed Xolani Zuma as its new Managing Director for South Africa and Africa. Servest said in a statement that Xolani Zuma brings extensive knowledge of the Facilities Management Industry and will help expand Servest’s presence in this advancing market. “Xolani is joining the Servest South Africa team during […]
Capprec said its full-year revenue rose Revenue for the year jumped to R80.2 million compared to ZAR33.0 million in the previous year. Profit for the year was higher at R39.2 million (R22.2 million). Furthermore, headline earnings per share grew to 3.14cps compared to ZAR1.77cps. The company said it is not […]
Sibanye Gold, one of South Africa’s mining majors said it has sacked 1,500 mine workers. The dismissal of workers was a fallout of the Cooke mine wildcat strike activated by mine workers who claimed they were wrongly accused of colluding with illegal miners in the shaft. The National Union of […]