Africa-news

Africa-news (598)

Oil surged past US$105 (~R1 606) per barrel and equities tumbled Thursday after key crude producer Russia sent forces into Ukraine, accelerating fears of a major war in eastern Europe.

The South African government is making strides in concluding the disposal of 51% of its shares in South African Airways (SAA) to strategic partner Takatso Consortium.

Old Mutual says death claims were higher than expected, despite setting aside an additional R2 billion in the first half of 2021 in anticipation of more waves of Covid-19.

South Africa’s government finances are turning the tide, Finance Minister Enoch Godongwana said on Wednesday.

South African Breweries (SAB) is calling on government to adjust the excise tax rate in line with inflation in this week’s budget, saying it may have to look to other African countries for investment if it doesn’t get the relief and certainty it seeks. 

The acquisition of Alexander Forbes short-term insurance business has not delivered the performance that Momentum Metropolitan Holdings (MMH) expected in the first half of the group's 2022 financial year.

According to the latest data from the SA Central Energy Fund, the South African petrol price is currently set for a hike of around R1.25 a litre, while diesel could be increased by R1.29.

Retail group Spar has announced that it will be launching an online shopping and delivery platform in selected Johannesburg stores towards the end of March 2022.

The European Union has pledged 150 billion euros (US$170 billion) for investment in Africa as it seeks to gain influence on the continent and become its partner of choice. 

Flutterwave Inc., an Africa and emerging markets-focused payments firm, more than tripled its valuation in less than a year to over US$3 billion following its latest fund-raising.

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