Steinhoff requests extension from creditors

Renee Bonorchis|Published

Steinhoff International Holdings said it has asked creditors to agree to an extension of the lock-up agreement.

JSE regulator may seek foreign help in Gupta probe

Renee Bonorchis|Published

South Africa?s stock-market regulator said it started a formal investigation into trades in Oakbay Resources and Energy Ltd.

Guptas inflated Oakbay price through trading by Singapore firm

Renee Bonorchis|Published

The Gupta family inflated the share price of a company it controlled on its JSE debut by lending money to a Singapore firm.

Old Mutual Wealth Will Absorb MiFID Research Costs

Renee Bonorchis|Published

Old Mutual Wealth said the company is absorbing the cost of external research for funds.

Nedbank's value overhauled by Capitec after market-beating rally

Renee Bonorchis|Published

Bank takes the spot as 4th-largest by market value in South Africa.

Billionaire Motsepe’s ARC to Raise 4 Billion Rand in Share

Renee Bonorchis|Published

African Rainbow Capital Ltd. plans to raise 4 billion rand ($303 million) selling shares in its investment unit to selected investors.

Junk makes banks a bargain buy

Renee Bonorchis|Published

Foreign investors have been snapping up South African banking stocks, enticed by the cheapest valuations relative to emerging-market peers since 2011.

Standard Bank tops expectations

Renee Bonorchis|Published

Standard Bank Group gains the most in almost three months as Africa’s largest lender by assets posts full-year profit that beat analyst estimates.

Banks line up to enter Ethiopia

Renee Bonorchis|Published

Lenders are lining up to establish a presence in Ethiopia, one of Africa’s fastest-growing and most under-banked economies.

Barclays Africa CEO says sorry for rand fixing

Renee Bonorchis|Published

Barclays Africa apologises for its role in a rand-fixing affair involving more than a dozen banks.

2017 not so rosy for bank shares

Renee Bonorchis|Published

South Africa was a bright spot for banks on the continent in 2016, with stocks shrugging off economic woes to head for the third-best performance in the past decade. ...

Hurdles slow Barclays sale of Africa unit

Renee Bonorchis|Published

Will the Barclays brand disappear from Africa all together?

Beer deal boosts Deutsche Bank in SA

Renee Bonorchis|Published

Deutsche Bank is heading for its best annual performance in SA after winning a key role on the biggest beer acquisition in history.

Standard Bank reboots its strategy

Renee Bonorchis|Published

Jacko Maree named as deputy chairman of Standard Bank’s board as lender looks to build its business across Africa.

‘Zombie banks’ stalk Africa

Renee Bonorchis|Published

Africa’s many small banks, laden with bad debt, are inflicting more pain on already embattled economies.

Currency hits Diamond’s Atlas Mara

Renee Bonorchis|Published

Atlas Mara, which was co-founded by ex Barclays CEO Bob Diamond, says third-quarter earnings drop 44 percent because of falling currencies.

FirstRand backs Gordhan’s position

Renee Bonorchis|Published

FirstRand agrees with Finance Minister Pravin Gordhan that he cannot interfere with the bank’s decision to cut ties with the Guptas.

Nigeria’s banking industry ‘facing a crisis’

Renee Bonorchis|Published

Failed fiscal and monetary policies are leading to a credit crunch in Nigeria, warns Arqaam Capital.

FirstRand mulls acquisitions in Nigeria

Renee Bonorchis|Published

Africa’s biggest bank by value is considering acquisitions in Nigeria because prices have eased in the wake of plummeting commodity prices.

PIC grows at slowest pace in seven years

Renee Bonorchis|Published

The Public Investment Corporation’s growth in assets under management fell as SA’s economy stagnated.

Liberty debt costs jump to record

Renee Bonorchis|Published

Liberty is paying more than ever to sell fixed-rate debt as SA life insurers struggle to increase profit in a lacklustre economy.

Capitec plans insurance offering

Renee Bonorchis|Published

Capitec Bank will start offering insurance products from next year in a bid to diversify sources of income and bolster earnings.

New clients boost Capitec’s profit

Renee Bonorchis|Published

Capitec Bank’s push to attract new customers and open extra branches is paying off.

Afena Capital sold to seven staff members

Renee Bonorchis|Published

Money manager Afena Capital says seven senior staff members bought the company for an undisclosed amount.

Investec sees decline in profit

Renee Bonorchis|Published

Investec expects a decline in first-half operating profit, reflecting a depreciation in the rand among other aspects.