Thousands of people marched through Johannesburg on Saturday, calling for an end to the violence that has killed at least 50 African migrants and forced tens of thousands to flee their homes. People in Hillbrow, home to many African immigrants, cheered the march, which was organised by churches and labour unions.
Fuels and petrochemicals group Sasol will sell a 10% stake in the company to black investors in South Africa's biggest black economic empowerment transaction to date, worth R25,9-billion. Sasol, the world's top maker of oil from coal, said the deal involving 63,1-million shares will broaden and transform the group's shareholder base.
Standard Bank expects as much as -million in incremental earnings by the third year of the deal in which China's biggest lender ICBC will buy a 20% stake for ,6-billion, it said on Friday. Standard Bank said in a presentation on its website that the bank expects incremental earnings of -million to -million.