Edition:
United States

TJ Strydom

South African exchange investigates Steinhoff disclosures

Dec 11 2017

JOHANNESBURG South African exchange operator JSE launched an investigation on Monday into whether Steinhoff broke disclosure rules, heaping pressure on the retailer as it tries to contain an accounting scandal.

Steinhoff accounting scandal sinks shares, CEO exits

Dec 06 2017

JOHANNESBURG Steinhoff International's shares crashed on Wednesday after it revealed "accounting irregularities" and its CEO quit, shocking investors who had backed the rapid reinvention of a South African furniture chain into an international retail empire. | Video

South Africa to outline 'decisive' policy in 2018 after debt rating cut

Nov 25 2017

JOHANNESBURG South Africa will use its annual budget next year to outline "decisive" policy to strengthen its fiscal framework, the finance ministry said on Saturday after S&P Global Ratings cut its local currency debt to "junk" status.

Ireland's CRH joins battle for South African cement maker PPC

Nov 13 2017

JOHANNESBURG/DUBLIN Irish building materials firm CRH has made a cash bid for cement maker PPC , taking on South African rival Afrisam [AFRSMV.UL] and Switzerland's LafargeHolcim .

MTN to defend 'opportunistic' $4.2 billion suit in South African court

Oct 31 2017

JOHANNESBURG MTN said on Tuesday that a $4.2 billion claim by Turkcell in a South African court over a disputed Iranian mobile phone license was "opportunistic" and "baseless", issuing the statement after filing a defense plea.

Two banks drop McKinsey in fallout from South Africa scandal

Oct 30 2017

JOHANNESBURG Barclays Africa and Standard Bank said on Monday they would stop working with McKinsey, a further blow to the global consultancy as it faces allegations of bribery for work done with friends of South African President Jacob Zuma.

Brandy chases whisky in South African spirit wars

Oct 13 2017

JOHANNESBURG Klippies and coke. Ricky Louw. Karate Water.

Two more firms fire KPMG as corporate South Africa weighs links with auditor

Sep 19 2017

JOHANNESBURG A South African broker and an energy investment firm fired KPMG on Tuesday, two of a host of local firms weighing whether to ditch the auditor to distance themselves from a scandal involving business friends of President Jacob Zuma.

The budget bank rattling South Africa's financial sector

Aug 31 2017

STELLENBOSCH, South Africa A budget bank is booming in South Africa's economic slump, challenging the decades-long dominance of the "big four" lenders and prompting a price war that is driving down banking costs in a country where many people can't afford an account.

South Africa's Zuma survives no-confidence vote, some ANC lawmakers join opposition

Aug 08 2017

CAPE TOWN South African President Jacob Zuma survived an attempt in parliament to force him from office on Tuesday, but was left politically wounded after some members of his ruling African National Congress (ANC) party voted with the opposition. | Video

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