After a surprise growth in the first quarter of the year, South Africa’s gross domestic product (GDP) decreased by 0.7% in the second quarter of 2022, Statistics South Africa reported …
South Africa
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Most people don’t even bother to use his name and just call him Snoop. David Mereki, 35, who stays in Harare’s Marlborough suburb, has revealed that the perceived similarity to …
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South African retailer, Massmart exits Nigerian Market
South African retail giant Massmart has sold its Games Discount World stores in Nigeria. The assets were sold to the controlling shareholder of PricePointe Wholesale Club, an organisation that operates …
At the MSGBC Oil, Gas and Power 2022 conference in Dakar, Senegal on 1 – 2 September, West African energy ministers explored the role domestic natural gas plays in developing …
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South Africa get biggest petrol price cut since 2020
The price of both 93 and 95 unleaded petrol will be lowered by R2.04 a litre on Wednesday (September 7), the Department of Mineral Resources and Energy announced on Monday. This …
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South African insurance giant Old Mutual acquires Genric Insurance
Old Mutual Insure on Monday announced a 100% acquisition of Genric Insurance Company, a licensed non-life and specialist insurer focused on bringing innovative and niche insurance solutions to market. According …
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South Africa joins the list of LNG producers as Renergen begins production
South Africa has joined the list of countries producing Liquefied natural gas ( LNG) as Renergen has started up its production facility at the Virginia gas project. The company announced …
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MTN repays billions in foreign debt due 2024
MTN Group has settled US$300-million (R5.2-billion) in Eurobonds that were due in 2024 early, helping deleverage its balance sheet. The early repayment brings MTN’s dollar-denominated debt down to 35% of total …
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Johannesburg Stock Exchange Clearinghouse becomes independent
The Johannesburg Stock Exchange’s (JSE’s) clearinghouse, JSE Clear, has been granted a licence approved by the Financial Sector Conduct Authority (FSCA), in agreement with the Prudential Authority (PA) and the …
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China lifts 5-month-long ban on wool imports from South Africa
China has lifted its 5-month-long ban on wool products importation from South Africa. The ban, which began in April, was occasioned by the outbreak of foot-and-mouth disease (FMD) in three …