South African stocks rise for 4th day, Capitec sparkles

JOHANNESBURG (Reuters) – South African stocks extended their winning run to a fourth straight session on Thursday, with Capitec leading the gainers after the lender flagged higher profits. Capitec rallied 9.07 percent to 232 rand, its biggest daily percentage gain in more than six years, boosted by news that its first-half profit likely rose as much as 22 … Read more

What’s a hedge fund? Expert explains basics

There’s been a lot of hype around hedge funds this year. South Africa is gearing up for hedge fund regulations, which will make it easier for hedge fund managers to sell their products. Amid all the talk, some hedge fund industry players have been keen to present these funds as fairly tame investment options. This … Read more

South Africa

Abil to seek $800m cash call as CEO quits

By David Dolan and Tiisetso Motsoeneng JOHANNESBURG (Reuters) – African Bank Investments warned on Wednesday it needed to raise around $800 million after it flagged a full-year loss and its chief executive quit, prompting a shareholder to liken the South African mass-market lender to a “bottomless pit”. The news wiped out more than half of … Read more