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  • FirstRand will continue to exercise discipline in allocating capital

    September 8, 2017 6:02 AM 161

    said on Thursday it would not pursue growth at the expense of returns as the group reported increased annual earnings of 7% to R24.4 billion that were below market expectations, hamstrung by credit impairments that grew 13% in the period. Johan Burger, the chief executive of FirstRand, said that the group would continue to exercise discipline in allocating

  • September 6th, 2017Africa’s agricultural revolution needs to be unique than the rest of world

    September 6, 2017 1:57 PM 167

    The power of entrepreneurs and the free market is driving Africa’s economic growth from food production, as business wakes up to opportunities of a rapidly growing food market in Africa, that may be worth more than $1 trillion each year by 2030 to substitute imports with high value food made in Africa. This is the main conclusion from the latest Africa

  • SA may be heading out of recession: survey

    September 4, 2017 3:03 PM 146

    JOHANNESBURG – A new poll suggests the economy may be heading out of its technical recession. As Statistics South Africa prepares to release GDP data for the second quarter, a Reuters survey of 20 economists predicts a likely expansion of 2,3 percent between April and June. New data suggests stronger retail sales may have helped turned things around

  • Namport women show hard hats and high heels both fashion items

    September 4, 2017 2:31 PM 149

    The Namibian Ports Authority had a special celebration last week Thursday to mark International Women’s Day and the commendable fact that 17% of the workforce is female, many of them in technical position or in management position previously the exclusive domain of men. At both ports, Walvis Bay and Lüderitz, the Namport ladies came out in force for this special

  • South African Airways new CEO to woo banks on rehab strategy

    September 4, 2017 2:01 PM 115

    The chief executive officer-elect of South African Airways is making it his first priority to convince banks that the state-owned carrier’s new leadership is committed to stemming five straight years of losses and repaying its debt. Lenders and other stakeholders need to be assured that “there is a plan that is plausible for SAA,” Vuyani Jarana said in an interview

  • Eurowings to put Cape Town on their map

    September 4, 2017 5:24 AM 122

    Pan African development website Elicit Africa reports that in what is considered a major boost for tourism to South Africa’s Mother City, one of the fastest growing LCCs, Eurowings, announced it will be flying between Cologne and Cape Town from 5 November. The announcement comes shortly after Eurowings, part of the Germany’s Lufthansa Group, also launched

  • The J P Morgan Chase & Co Reiterates GBX 500 Price Target for BP plc (BP)

    September 3, 2017 10:35 PM 147

    A number of other equities analysts have also weighed in on the company. UBS AG set a GBX 525 ($6.79) target price on BP plc and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Beaufort Securities reiterated a “buy” rating on shares of BP plc in a research note on Wednesday, May 3rd. Canaccord Genuity reiterated a “buy” rating

  • Diageo plc (DGE) PT Set at GBX 3,000 by Jefferies Group LLC

    September 3, 2017 8:27 AM 190

    Diageo plc (LON:DGE) has been given a GBX 3,000 ($38.80) target price by research analysts at Jefferies Group LLC in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Jefferies Group LLC’s price target points to a potential upside of 15.87% from the stock’s previous close. Other research analysts have also issued

  • Freight firm challenged – Zambia Daily Mail

    September 1, 2017 11:38 PM 133

    ZCL handles mainly mineral cargo, especially copper, but has over the years diversified its revenue base to include agriculture-related cargo and general cargo. Mr Mushimba said it is time ZCL repositioned itself by taking advantage of the new trade corridors such as Nacala in Mozambique, Lobito in Angola and Walvis Bay in Namibia. “The new trade corridors

  • Klipdrift maker Distell eyes international acquisitions as SA economy dries up

    September 1, 2017 1:32 PM 140

    Asking shareholders to buy new stock is “possible,” Managing Director Richard Rushton said in a phone interview, adding that the Cape Town-based company would first look to increase debt. Investors needn’t worry about the dividend, he said, as it would only be cut as a last resort. “We are in a phase now where we want to diversify the business beyond