United States

Tiisetso Motsoeneng

Former Steinhoff chairman Wiese open to talks over $4 billion claim

Mar 18 2019

JOHANNESBURG Former Steinhoff chairman and top shareholder Christo Wiese said on Monday he is open to negotiations over a $4 billion claim against the South African retailer, days after it revealed the scale of a devastating accounting fraud.

PwC investigation finds $7.4 billion accounting fraud at Steinhoff, company says

Mar 15 2019

JOHANNESBURG South African retailer Steinhoff said an independent report had found it had overstated profits over several years in a $7.4 billion accounting fraud involving a small group of top executives and outsiders.

UPDATE 2-S.Africa's Group Five in business rescue after lenders pull plug

Mar 12 2019

* Second high-profile to file for bankruptcy protection rescue (Adds analyst comment, detail)

UPDATE 3-S.Africa's Old Mutual FY profit drops; co plans $138 mln buyback

Mar 11 2019

* Misses target on results from operations (Adds shares, more CEO comment)

African telecoms titan MTN slims down with $1 billion divestment plan

Mar 07 2019

JOHANNESBURG MTN Group announced on Thursday a $1 billion divestment program over the next three years that will slim down Africa's biggest mobile phone operator and refocus it on high-growth markets on the continent and in the Middle East.

UPDATE 2-South African Airways in talks to roll over $650 mln of debt

Feb 18 2019

* In talks with govt to sell majority stake in Air Chefs (Recasts with debt rollover talks)

UPDATE 2-Board of South African state pension fund resigns as scandal deepens

Feb 01 2019

* PIC is Africa's biggest pension fund (Adds Treasury comment, details)

South Africa's deputy finance minister denies corruption allegations

Jan 30 2019

JOHANNESBURG South Africa's deputy minister of finance and chairman of the state-owned Public Investment Corporation (PIC), Mondli Gungubele, said on Wednesday he had done nothing wrong after a whistleblower made new graft allegations at the pension fund.

UPDATE 2-End to Nigerian dispute lifts shares in S.Africa's MTN

Dec 27 2018

* GRAPHIC: https://tmsnrt.rs/2DbEu6z (Adds context, analyst quote, updates shares)

South Africa's MTN pays $53 million to settle $8.1 billion Nigeria dispute

Dec 24 2018

LAGOS/JOHANNESBURG South African telecoms operator MTN Group has agreed to make a $53 million payment to resolve a dispute in Nigeria, it said on Monday, ending a four-month multi-billion dollar dividend repatriation row that has hammered its share price.

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