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South Africa’s central bank held its benchmark interest rate for a third straight meeting as it revised its inflation forecasts higher.
‘Minister Mthembu was an exemplary leader, an activist and life-long champion of freedom and democracy’, said President Cyril Ramaphosa.
For the 52-week period, Massmart’s total sales amounted to R86.5bn, representing a decrease of 7.7% over the same period last year.
An annual wealth tax on the net worth of South Africa’s richest people could raise as much as R160bn and would narrow inequality.
De Beers implemented its biggest price increase for diamonds in years as the industry starts bouncing back from the pandemic-induced shutdown.
Private equity investors in southern Africa are closing deals again after a virus-induced lull, tapping a cash pile that stood at more than R30bn in June.
Richemont’s sales in the third quarter increased by 5% at constant exchange rates compared to the prior period, with China leading sales.
TFG’s acquisition of Jet from the Edcon group already seems to be paying dividends, with the group releasing a positive Q3 trading update.
Glencore has agreed to sell its stake in Mopani Copper Mines to the Zambian government for $1.5bn (R22.4bn), but will get just $1 (R15) upfront.
The DA demanded the government give clarity about its strategy to procure vaccines against the coronavirus and manage its vaccination program.