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Spazas are a major component of the informal economy, but big retailers’ push into townships to target rising consumer spending is setting them back.
Wildcat strikes in the platinum belt have entered a sixth week with no resolution in sight and investors are beginning to grow concerned.
More private equity investors are flocking to Africa, drawn by the prospect of outsize returns due to the continent’s stunning potential.
Shares in MTN Group have slid after rival Turkcell filed a lawsuit against the mobile operator, alleging it bribed officials to win an Iranian bid.
Absa Group says it would merge its business and retail banking units, a similar move done by Barclays this year.
Standard Bank reported its third straight decline in annual profit on slack demand for loans and said it owuld continue to keep a lid on costs.
Absa, the SA bank majority owned by Barclays, surpassed market expectations with a slight upturn in full-year earnings on Tuesday.
South African bank FirstRand posted a 34% rise in full-year profit, helped by a recovery in bad debts and investment banking.
HSBC is in talks to buy up to 70% of Nedbank in a potential $6,8-billion deal that would give it a broader gateway to fast-growing Africa.
Investors recoiled from risky assets on Friday and dumped shares in Asian banks and builders, fearing a Dubai debt default could reignite the crisis.
A man drove a truck into a crowd of pedestrians in a popular Tokyo shopping district and then went on a stabbing rampage on Sunday.
Shares of Citigroup rose 5% in their debut on the Tokyo bourse on Monday, a day after the United States bank’s head resigned to take responsibility for spiralling losses on…
