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Latest news and views in Brief
Massmart fell the most in three months as the troubled South African retail chain warned on profit and majority shareholder Walmart sent one its own to help stem declines.
Steinhoff is facing a mass investor lawsuit in German after a Frankfurt court received ten suits, the minimum amount to allow the cases be heard jointly under a special group litigation procedure.
South African Deputy President David Mabuza’s reappointment to his post is in doubt after he asked to delay his swearing-in as a lawmaker while he defends himself against accusations that he brought the ruling African National Congress into disrepute.
Sasol, the world’s biggest maker of fuel from coal, said the cost of its giant Lake Charles chemicals project in Louisiana will balloon to as much as $12.9bn, or about 50% more than initially planned.
As speculation swirls about plans to deal with Eskom’s crippling debt load, one group of stakeholders hasn’t been consulted: owners of the company’s R243bn of bonds.
An ex- Credit Suisse Group AG banker became the first person to plead guilty in what US prosecutors called a $2bn fraud and money-laundering scam tied to loans to Mozambique that were used to pay bribes and kickbacks.
Lawyers acting for former South African President Jacob Zuma argued that corruption charges against him dating back almost two decades should be scrapped because the case against him is politically motivated and has been unreasonably delayed.
President Cyril Ramaphosa has appointed Adv Hermione Theresa Cronje as head of the Investigating Directorate in the Office of the National Director of Public Prosecutions.
Moody’s sees South Africa’s ratio of debt to gross domestic product deteriorating should the country fail to contain spending and funding risks from the state power company.
With South Africa’s election out of the way, the next key moment for investors will be the appointment of President Cyril Ramaphosa’s cabinet.