Ster Kinekor’s business rescue plan has been approved by the group’s creditors and shareholders.

South Africa’s Standard Bank is trying to convince the Industrial and Commercial Bank of China (ICBC) to buy its 40% stake in their London-based joint venture, CEO Sim Tshabalala said on Friday.

South Africa is in full support of establishing a single African currency backed by the continental central bank and monetary institute.

Internet search company Google announced on Tuesday that its philanthropic arm is committing R15.3 million in charitable funding to support programmes helping women entrepreneurs to grow their businesses, as part of a series of new initiatives aimed at supporting women-owned businesses, the company said on Tuesday.

Retailer Shoprite says it generated an additional R8.3 billion in sales versus the corresponding period to increase sales by 10.0% to R91.1 billion for the 26 weeks ending 2 January 2022.

The Foschini Group (TFG) has announced a major acquisition of R2.35 billion, which, if approved by competition authorities, will see it own well-known furniture retail and bedding chains Coricraft, Volpes, Dial-a-bed and The Bed Store.

Botswana, the world’s second-largest diamond producer, is seeking a more prominent role in the industry as No. 1 player Russia faces international outrage following its invasion of Ukraine. 

Commercial and residential property group Knight Frank has published its Wealth Report for 2022, showing the number of high-net-worth individuals that currently live in South Africa.

Even after a salary cut, Denise Coates’ paycheck is hard to beat. 

Virgin Active Holdings raised £88.4 million ($118 million) from backers including billionaire Christo Wiese, and will expand with the acquisition of the nutrition assets of South Africa’s Real Foods Group.

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