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Jaco Visser

Allan Gray invests in Zimbabwean beer and cellphones

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Despite Zimbabwe's shrinking economy, Allan Gray is upping its stakes in the Zimbabwean sorghum beer and mobile phone markets.
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African Bank downgrade doesn’t mean a redemption for bondholders, says CFO

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African Bank says holders of its debt cannot ask for an early repayment of its bonds, despite being downgraded to "junk" status last week.
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Hedge fund shorts African Bank shares

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A major hedge fund is shorting shares in the unsecured lender in expectation of further declines.
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Uganda punished in currency market for anti-gay law

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Aid for Uganda has been pulled and its currecy has slumped following a bill which prescribes life imprisonment for some homsexual acts.
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Coronation fund adds Northam as Investec dumps it

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The strike-hit miner has fallen out of favour with Investec Assest Management but Coronation Fund Managers like the prospects of the platinunm sector.
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Rand weakens to a five-year low after China manufacturing data

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The rand was one of the worst performing major currencies as demand for China's manufactured goods declined.
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Solar boom boosts South African salaries

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Renewables projects have provided new jobs with higher salaries and brought new economic activity into the Northern Cape.
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JSE appoints Nyembezi-Heita as new chair

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ArcelorMittal boss Nonkululeko Nyembezi-Heita will replace Humphrey Borkum in 2014, the Johannesburg Stock Exchange has said.
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South African business to close for Mandela’s funeral

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Enterprises ranging from retailers to mines and bank headquarters will close for the former president's funeral.
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SA retail stocks advance for second month

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South African retail stocks have risen for a second month, on speculation that the US Federal Reserve will maintain stimulus.
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Famous Brands’s stocks rise after buying stakes in Nigerian company

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Famous Brands, which owns chains such as Wimpy and Mugg & Bean, have risen the most in two weeks after buying a 49% stake in a Nigerian food company.
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South Africa sells $2-billion of government bonds

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South Africa has sold $2-billion of 12-year bonds in overseas debt markets after boosting the size of the offering.
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