Today’s Top 8 Business Stories – 18 February

1) S. Africa Country Risk Adds to Rates Pressure, Reserve Bank Says South Africa’s rising country risk is putting upward pressure on interest rates, even as inflation expectations are dropping, with credit-rating companies contributing to the negative sentiment, according to the Reserve Bank. Moody’s Investors Service cut its 2020 economic growth forecast for South Africa […]

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Capitec’s 2020 Banking Fees – Good News for Digital Clients

The more than 6.9 million digital clients of Capitec will welcome Capitec’s announcement of its banking fees for 2020 on February 17. Capitec, with a client base of more than 12.6 million, is South Africa’s biggest bank by client numbers. Capitec announced that its fees for digital banking will remain the same as in 2019, […]

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Amplats Headline Earnings Per Share Increased by 145%

February 17 was a significant day for Anglo American Platinum (Amplats). The company released its outstanding annual results for the financial year ended 31 December 2019 and it was announced that the company’s CEO, Chris Griffith will step down as CEO on April 16. Amplats is the world’s leading supplier of platinum group metals (PGMs). […]

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FNB has the Strongest Banking Brand in South Africa

Brand Finance published its “annual report on the most valuable and strongest banking brands” in February 2020. On its website, Brand Finance describes itself as “the world’s leading independent brand valuation and strategy consultancy.” The consultancy is headquartered in London and is present in over 20 countries in the world. In the foreword to the […]

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South African Gold Mining in 2019 in Numbers

Production Gold production in South Africa increased 24,9% year-on-year in December 2019. This performance by gold contributed to the 1,8% increase in mining production for the same period. In terms of percentage points, gold contributed 2,7% to the increase in mining production. These numbers were released by Stats SA on 13 February 2020. This is […]

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Harmony Carried the Load of Load Shedding

When Eskom declared an unprecedented Stage 6 load shedding on 9 December 2019, Harmony was about to carry the consequences of load shedding in a costly way. Harmony had to immediately reduce electricity consumption to levels required only for the maintenance of emergency services. The safety of Harmony’s employees was also of paramount importance. Therefore, […]

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Harmony Gold to Acquire Mponeng And Mine Waste Solutions from Anglogold Ashanti

The mining company Harmony Gold announced in a declaration on the JSE news service (SENS) on 12 February 2020 that it has entered into a definitive agreement with AngloGold Ashanti Limited (“AngloGold”) to acquire Mponeng and Mine Waste Solutions. The acquisition is still subject to a number of conditions precedent, including: Approval from the South […]

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Investec Asset Management Soon Ninety One

In March 2020 Investec Asset Management (IAM) will become Ninety One – not in age, but in name. This is the culmination of a process that started in September 2018 when the Boards of Investec plc and Investec Limited (collectively “Investec Group”), following a strategic review, announced that Investec Asset Management (“IAM”) would become a separately […]

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