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The acting chief executive said it was imperative to bridge the gap of 4000 to 6000 megawatts of dispatchable capacity
Although auditors have cautioned the new board on its financial health, the newly appointed board is positive that it can turn things around
Richemont’s full year earnings have slowed in comparison with the last three years, as the Chinese government cracked down on spending by officials.
Shoprite says it does not expect any improvement on its first-half profit increased by 7.4%.
Nedbank Group reported a full-year profit that was higher than expected as revenue increased and bad debt growth slowed down.
The bank’s net income has risen to R12-billion from R10-billion last year.
In its full-year results, the Bank of Kenya said profit had declined by 13% on bad debt.
Higher oil and chemical prices, favourable currency swings and the weaker rand will increase earnings, says Sasol.
MMI Holdings, South Africa’s third-largest insurer, said fiscal full-year profit climbed 12% after selling more policies and integrating units.
Sasol, the world’s biggest coal-to-gasoline producer, says full-year profit climbed 25% after production at its synfuels division increased.
Sanlam, the largest South Africa-based insurer, said first-half profit rose 36% after expanding in emerging markets and developing new products.
MTN Group, Africa’s largest wireless operator, said first-half profit rose 22%, exceeding estimates, after subscriber numbers increased.
Standard Bank reported a 1,9% dip in annual headline earnings per share in line with its own forecast and declined to give a firm 2009 outlook.
South African financial services firm Sanlam expects 2009 to be challenging after it posted a 59% drop in headline earnings per share on Thursday.
SABC spokesperson Kaizer Kganyago denied a R700-millon figure but said: "We are not prepared to engage further on this matter."
The year 2008 could only be characterised as a year of two halves, Impala Platinum said on Thursday as it presented its interim results.
