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Markets boosted by US tax reform hopes, as South African rand tumbles - business live

Equity market participants have taken a look at the lower yields ... According to Bloomberg’s Sam Mkokeli, South African president Jacob Zuma told communist parties leaders that he’s planning to sack finance minister Pravin Gordhan.

From The Guardian

South Africa's rand extends losses on cabinet reshuffle talk, stocks up

JOHANNESBURG, March 29 (Reuters) - South Africa's rand and bonds extended losses on Wednesday ... "Local political news is now pretty much everything for the local market," Rand Merchant Bank currency strategists John Cairns said.

From Inside Fidelity

El-Erian Says South Africa Is Risking Market Credibility - Presented by: The Aol. On Network

Mar.28 -- Mohamed El-Erian, chief economic adviser at Allianz SE and Bloomberg View columnist, examines differences between the debt and equity markets. He speaks on "Bloomberg Daybreak: Americas." (El-Erian is a Bloomberg View columnist. The opinions ...

From NASDAQ

US tax reform hopes underpin markets, as South African rand tumbles - business live

Equity market participants have taken a look at the lower yields ... According to Bloomberg’s Sam Mkokeli, South African president Jacob Zuma told communist parties leaders that he’s planning to sack finance minister Pravin Gordhan.

From The Guardian

South Africa's Gordhan ordered home from London, rattling markets

PRETORIA, March 28 (Reuters) - Finance Minister Pravin Gordhan was set to return to South Africa early on Tuesday after he was ordered home by the president, a move that rattled markets amid media reports that he might be sacked. The rand tumbled more than ...

From Inside Fidelity

South African Markets - Factors to watch on March 28

SOUTH AFRICAN MARKETS South Africa's rand fell against the dollar on ... to tentative hopes for the U.S. President's planned stimulus policies. WALL STREET U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the ...

From Times of India

El-Erian Says South Africa Is Risking Market Credibility

Mar.28 -- Mohamed El-Erian, chief economic adviser at Allianz SE and Bloomberg View columnist, examines differences between the debt and equity markets. He speaks on "Bloomberg Daybreak: Americas." (El-Erian is a Bloomberg View columnist. The opinions ...

From Yahoo Finance

South Africa's currency, stocks plunge as finance minister clashes with president

The country's stocks also took a beating: The iShares MSCI South Africa Index (EZA), which tracks the country's stock-market performance, was down nearly 3% at $58.55, its lowest in two weeks. While an official statement from the government gave no reason ...

From Inside Fidelity

South African Markets - Factors to watch on March 27

SOUTH AFRICAN MARKETS South Africa's rand retreated against the dollar ... to push through tax cuts and fiscal spending to boost the economy. WALL STREET U.S. equity index futures fell to a six-week low on Sunday in a sign Wall Street would start the ...

From Times of India

South Africa's rand extends data-driven gains, stocks flat

"We're seeing strength against all its frontier market currency peers, not just the dollar," said IG South Africa senior market analyst Shaun Murison, who said if the rand remains below 13 to the dollar it could make a move to 12.30. On Wednesday ...

From Inside Fidelity

Where South African investors are putting their money

Local equity markets are not looking cheap and delivered only 2.6% in ... Read: Rand gets even stronger as investors warm up to South Africa Staff Writer BusinessTech's Staff Writer is directly plugged into the South African Internet backbone, and spits ...

From businesstech.co.za

Explainer: how a special tax could protect South Africa from systemic risk

Is South Africa safe from systemic risk in its financial system? Systemic risk can lead to the collapse of financial markets as happened in the ... the extent to which debt is used to finance activity and equity losses would be expected to be incurred ...

From THE CONVERSATION

FirstRand: The Best Of The South African Banks

and it is probable that its newer African markets will over time similarly attain higher returns on equity. The bank's CEO, Johan Burger, also reiterated that: "The group has consistently stated that it will not chase earnings growth at the expense of [its ...

From Seeking Alpha

South African real estate investors ask: howzit in CEE?

As Robinson of Colliers explains, the cost of debt in South Africa is in the 8-9% range, while the cost of equity is in the 13-14% range. Adding the cost of sovereign debt (8%) to a “market risk premium” for equities of, say, 5% gives a rate of around 13%.

From intellinews.com

South African Banks on Offensive to Parry Political Attacks

South Africa’s banks are going on the offensive after being criticized ... Of the five biggest lenders, which together control about 90 percent of the local banking market, only Standard Bank has a black co-chief executive officer, and he has a white ...

From Bloomberg

DEG invests in South African fashion retailer Retailability

The investment was facilitated and led by the African Private Equity firm Metier through its Metier Capital ... and boosting its position in the market. Furthermore, it will provide active support in implementing international best practices.

From poandpo.com

Reunert takes majority stake in South African solar developer

Jessica is a business and finance writer, focusing on impact investing, social entrepreneurship and economic development. She previously reported for financial publications covering the global private equity, real estate and insurance markets.

From impactalpha.com

South African insurer Sanlam posts 6 pct fall in FY profit

JOHANNESBURG, March 9 Sanlam Ltd, South Africa's biggest life insurer, reported a 6 percent decline in annual profit on Thursday, dragged down by unfavourable currency moves and weaker returns from the equity market. Normalised headline earnings ...

From Reuters

South Africa's Sea Harvest to raise $100 mln in Johannesburg IPO

The company, which has a 36.7 percent share of South Africa's frozen seafood market, packages for retail and foodservice ... Premier Food and Fishing Limited , a subsidiary of African Equity Empowerment Investments , listed 117 million shares last week.

From kitco.com

South Africa's rand weakens on Fed hike fears, retail stocks fall

JOHANNESBURG (Reuters) - South Africa's rand weakened on Wednesday as the dollar ... more clues as to the pace of monetary tightening by the Federal Reserve. On the equity market, stocks were slightly lower and were set to end the week on a sour note ...

From Yahoo News

South Africa: Sanlam Points to Nenegate After Posting 6 Percent Decline in Profit

South Africa's largest life insurer, Sanlam [JSE: SLM], posted a 6% full year decline in profit due to negative foreign currency translation differences and weak equity market performance during 2016. Normalised headline earnings for the year ended ...

From AllAfrica

South African insurer Sanlam posts 6 pct fall in FY profit

JOHANNESBURG, March 9 (Reuters) - Sanlam Ltd, South Africa's biggest life insurer, reported a 6 percent decline in annual profit on Thursday, dragged down by unfavourable currency moves and weaker returns from the equity market. Normalised headline ...

From Yahoo Finance

South African Markets - Factors to watch on March 9

SOUTH AFRICAN MARKETS South Africa's rand weakened on Wednesday as the dollar was boosted by bumper U.S. private-sector jobs numbers that raised already high expectations of a U.S. interest rate hike next week. On the equity market, stocks were slightly ...

From Times of India

South Africa's Sea Harvest to raise $100 mln in Johannesburg IPO

The company, which has a 36.7 percent share of South Africa's frozen seafood market, packages for retail and foodservice ... a subsidiary of African Equity Empowerment Investments, listed 117 million shares last week. ($1 = 12.9685 rand) (Reporting by ...

From Reuters

South Africa's rand weakens on Fed hike fears, retail stocks fall

JOHANNESBURG (Reuters) - South Africa's rand weakened on Wednesday as the dollar ... more clues as to the pace of monetary tightening by the Federal Reserve. On the equity market, stocks were slightly lower and were set to end the week on a sour note ...

From sharenet.co.za

Can South Africa provide energy for all?

Jessica is a business and finance writer, focusing on impact investing, social entrepreneurship and economic development. She previously reported for financial publications covering the global private equity, real estate and insurance markets.

From impactalpha.com

National Bank of Greece SA: Sale of NBG Group’s stake in the South African Bank of Athens

EUR 55 million (comprising of the equity value payment ... banking solutions to the broader market. AFGRI is a leading agricultural services, financial services and food processing company operating in South Africa, 14 countries in the rest of the African ...

From The Wall Street Transcript

South Africa's Sea Harvest to raise $100 mln in Johannesburg IPO

The company, which has a 36.7% share of South Africa's frozen seafood market, packages for retail and foodservice ... a subsidiary of African Equity Empowerment Investments, listed 117 million shares last week.

From The Africa Report

South Africa's Sea Harvest to raise $100 mln in Johannesburg IPO

The company, which has a 36.7 percent share of South Africa's frozen seafood market, packages for retail and foodservice ... a subsidiary of African Equity Empowerment Investments, listed 117 million shares last week. ($1 = 12.9685 rand) (Reporting by ...

From Times of India

Google’s Launchpad Accelerator expands to Kenya, Nigeria and South Africa

Startups from Kenya, Nigeria and South Africa are eligible to apply ... and 31 startups currently participating. The equity-free program accepts applications from late-stage tech startups in emerging markets. The six-month training begins at the Google ...

From PC Tech Magazine

South Africa’s insurer to acquire 75% equity in Nigeria’s UNIC Insurance

Part of Liberty’s strategy is to grow its presence in West Africa through long-term insurance business and entering the asset management business. “We see Nigeria as a market of the future,” Liberty Chief Executive Thabo Dloti said. “It may be ...

From africabusinesscommunities.com

UPDATE 1-South Africa's Blue Label Telecom signs deal to lower Cell C's debt

Cell C is South Africa's third largest mobile phone company but debts totalling about 20 billion rand have hampered its growth in a maturing phone market where rivals Vodacom ... "The recapitalisation plan brings new cash equity as well as the contribution ...

From Reuters

South Africa’s insurer eyes 75% equity in Nigeria’s UNIC Insurance @ N3.72bn

Part of Liberty’s strategy is to grow its presence in West Africa through long-term insurance business and entering the asset management business. “We see Nigeria as a market of the future,” Liberty Chief Executive Thabo Dloti said. “It may be ...

From Vanguard

List of Top Equity Returns Since 1900 Starts With South Africa

In 1900, more than 80 percent of the U.S. stock-market’s value was in businesses such as railroads, which are today small or extinct. Nearly half of U.K. companies by value are in sectors that didn’t exist a century ago. Gold, once key to South Africa ...

From Bloomberg

South African Private Equity Firm Acquires Kenyan Unit of Aon

A South African private equity firm has acquired the Kenyan unit of global insurance ... and is banking on the buyout to tap into the growing insurance brokerage market in Kenya and across the continent. “We will be working with management to build ...

From ghanastar.com

Why you should have put your money on South Africa over the past 100 years

New data from Credit Suisse shows that South Africa’s equity market has been one of the most successful in the world over the past 100 years. The Credit Suisse Global Investment Returns Yearbook – which covers data dating back to 1900 – showed that ...

From businesstech.co.za

SA markets fixated on Gordhan, possible cabinet change

Cape Town — Trading day 3 — South African markets remained fixated on Finance Minister ... The dollar gains, as well as US equity and bond markets capped the gains of the “safe-haven” asset, suppressing demand. There are still many uncertainties ...

From chronicle.co.zw

Stocks, Crude Advance as Calm Returns; Rand Slumps: Markets Wrap

“Equity market participants have taken a look at the lower yields ... mile border wall between the U.S. and Mexico are due March 29. Hungary, Mexico, South Africa and Thailand are among countries setting interest rates. Samsung Electronics Co. will ...

From Bloomberg

Equities Rebound as Dollar Steadies; Rand Plummets: Markets Wrap

The selloff in riskier assets eased after U.S. stocks staged a recovery, with most equity markets resuming their upward trajectories as the dollar put the brakes on losses. The rand tumbled amid reports South Africa’s President Jacob Zuma plans to fire …

From ForexTV

GLOBAL MARKETS-Stocks up, dollar steady as markets await Fed speakers

Advancing shares in Asia and Europe helped boost the MSCI's all-country world equity index, which hit a near-two ... after hitting a four-and-a-half month low on Monday. In emerging markets, the South African rand fell after Finance Minister Pravin Gordhan ...

From Reuters

EMERGING MARKETS-S.Africa assets tumble on FinMin recall, EM stocks edge up

LONDON, March 28 (Reuters) - South Africa's rand took another tumble on Tuesday with ... However, MSCI's emerging market benchmark equity index gained 0.3 percent, reversing Monday's losses. Hungary is expected to hold interest rates at its record low ...

From Business Insider

EMERGING MARKETS-S.Africa assets tumble on FinMin recall, EM stocks edge up

LONDON, March 28 South Africa's rand took another tumble on Tuesday with ... However, MSCI's emerging market benchmark equity index gained 0.3 percent, reversing Monday's losses. Hungary is expected to hold interest rates at its record low of 0.9 percent ...

From Reuters

Equities Rebound as Dollar Steadies; Rand Plummets: Markets Wrap

The selloff in riskier assets eased, with most equity markets resuming their upward trajectories as the dollar steadied after U.S. stocks staged a recovery. The rand tumbled amid reports South Africa’s President Jacob Zuma plans to fire his finance minister.

From Bloomberg

Fed Fear? Emerging Market Funds Draw Record Interest

Emerging market equity funds saw their biggest inflows in more than seven ... followed by those in Taiwan, Russia and South Africa, according to EPFR. In the latest week, China funds lost favor: “Although China’s benchmark equities index has gained ...

From Barron's

EMERGING MARKETS-Emerging assets retreat after Wall Street slide

though the South African rand briefly firmed after data showed a narrower current account gap. MSCI's emerging equity index retreated almost 1 percent after its longest streak of gains since last August, hit by losses on U.S. stocks as doubts grew about ...

From Business Insider

EMERGING MARKETS-Emerging assets retreat after Wall Street slide

though the South African rand briefly firmed after data showed a narrower current account gap. MSCI's emerging equity index retreated almost 1 percent after its longest streak of gains since last August, hit by losses on U.S. stocks as doubts grew about ...

From Yahoo Finance

Pan-African News Wire

“In terms of the 2015/16 information submitted to the Employment Equity Commission ... crudely exposed the ethical crisis in the South African banking sector. It is further an indication of how the markets are and can be manipulated by dominant ...

From panafricannews.blogspot.com

Media24 acquires 10% equity in SA music streaming service NicheStreem

South African media company Media24, has invested an undisclosed amount to acquire 10% of music streaming service NicheStreem. The service focuses on emerging markets and curated music solutions. The service is solely founded by Catherine Lückhoff ...

From Ventureburn

5 Local Franchises Making It Big Abroad – And Key Lessons For You

Did you know that the consumers of South African brands overseas are almost by ... taking your brand to the international market means you have the experience, brand equity, know-how and financial savvy to compete there. These home-grown brands are making ...

From entrepreneurmag.co.za

For better equity returns, focus on valuations – not economic growth

The best market for investors was actually Australia, which delivered equity returns twice as high as Japan’s with less than 2-per-cent annual economic growth. And South Africa, the economy that grew the slowest in the group, experienced better equity ...

From Globe and Mail

UPDATE 1-Investec expects higher full-year revenue on equity market boost

The South Africa-focused bank, which is also listed in London ... for the year to March 31 for both Investec Plc and Investec Ltd. Common equity tier 1 ratio is expected to remain slightly below the 10 percent target for Investec Ltd while Investec ...

From Reuters

SPECIAL REPORT: Raising Funds for Non-bank Financial Institutions in Africa

In most markets, banks themselves are reluctant to lend to NBFIs, given the potential long-term competitive threat. For example, Capitec of South Africa and Equity Bank of Kenya, which are now very much fully-fledged banks, have roots as NBFIs. In South ...

From MicroCapital

Portugal's CGD bank seeks to sell Spanish, S.African operations

The lender said it planned to maintain operations "in markets with Portuguese affinity", which include ... "We will give priority to operations (to sell) in South Africa and Spain," CEO Paulo Macedo told reporters, adding that the bank's French unit ...

From Reuters

Making sense of hedge funds

Increasing use is being made of hedge funds in South Africa, but they remain largely misunderstood ... “Their returns should thus be uncorrelated to the bond or equity market so that they provide your overall portfolio with a hedge during unfavourable ...

From businesstech.co.za