R/€ = 15.90 Change: -0.26
R/$ = 13.59 Change: -0.15
Au 1267.80 $/oz Change: -0.30
Pt 867.00 $/oz Change: 2.83


Exxaro appoints new chairperson

By: Marleny Arnoldi     15th June 2018 JSE-listed coal and heavy minerals miner Exxaro has appointed Jeffrey van Rooyen as independent nonexecutive chairperson.  

African auto industries not viable without policy support

By: Irma Venter     30th May 2018 If African governments do not develop sustainable, long-term automotive industry policies – including policy measures that address the issue of the sale of used vehicles – they will fail to develop automotive sectors within their economies, says African Association of Automotive Manufacturers... 

20 years of the Africa Energy Forum: a catalyst for progress within the industry

24th May 2018 Just before the Africa Energy Forum (AEF) arrives in Mauritius from 19-22 June to celebrate its 20th anniversary, we hear from some of the energy industry’s most respected decision-makers on how the Forum provided a platform for the development of Africa’s energy sector. 

Fraser-Moleketi, Mphatlane to join Exxaro board

By: Anine Kilian     23rd May 2018 Geraldine Fraser-Moleketi, Mark Moffett and Isaac Mphatlane will join diversified miner Exxaro Resources’ board, following the retirement of directors Len Konar, Con Fauconnier and Saleh Mayet at the miner’s annual general meeting on Thursday. Fraser-Moleketi is a fellow of the Institute of... 

Conference to foster entrepreneurial opportunities for women

By: Simone Liedtke     16th February 2018 To assist women in being successful renewable-energy entrepreneurs, the African Energy Sector: Scope and Opportunity discussion topic at this year’s Women in Energy Conference will focus on the entrepreneurial opportunities in the energy sector and how women can maximise their participation. 

'Off to the races' for South African assets as Ramaphosa steps in

By: Bloomberg     15th February 2018 Stocks surged the most since December 2014, the rand rallied to a three-year high and bond yields fell to a level last seen more than two years ago as market favorite Cyril Ramaphosa took the helm of Africa’s most industrialized economy. “This is the Cyril bonus,” said Wayne McCurrie, the head of... 

Biggest African phone-tower firms said to be mulling 2018 listings

By: Bloomberg     8th December 2017 Three of Africa’s largest telecommunication towers companies plan to pursue share sales in either London or New York early next year, taking advantage of high industry valuations to fund expansion, according to people familiar with the matter. Closely-held IHS Towers, targeting an enterprise... 

Standard Bank, ICBC launch programme to spur growth through tourism

By: Anine Kilian     15th November 2017 To further cement trade ties, boost investment flows and encourage tourism between South Africa and China, Standard Bank and the Industrial and Commercial Bank of China (ICBC) have launched the I Go South Africa loyalty programme in partnership with South African Tourism. This initiative, which... 

Companies from Amplats to StanChart on alert amid Zimbabwe coup

By: Bloomberg     15th November 2017 Companies are being vigilant over their operations in Zimbabwe after military vehicles descended on the capital of Harare and the army seized power, threatening President Robert Mugabe’s 37-year rule. Nedbank Group sent some South African employees home from Zimbabwe, the Johannesburg-based... 

Guptas target South African bank regulator over account closures

By: Bloomberg     10th November 2017 A group of companies linked to South Africa’s politically connected Gupta family said the country’s banking regulator encouraged lenders to shut their accounts, broadening a battle to retain the last of their banking services. The 20 businesses, which are suing Bank of Baroda’s local unit to keep... 

McKinsey, KPMG targeted as South Africa graft scandal widens

By: Bloomberg     15th September 2017 After helping topple one of Britain’s best known public-relations companies, South African anti-corruption groups are now targeting US consultancy McKinsey & Co. and auditing firm KPMG for doing work for businesses tied to the Gupta family and President Jacob Zuma’s son. The Guptas, originally... 

Gupta firms sue Bank of Baroda to try stop account closures  

By: Bloomberg     17th August 2017 Companies controlled by the Gupta family, whose accounts are being closed down by Bank of Baroda, said they’re taking legal action against the lender to try and stop the termination, which comes after South Africa’s four biggest lenders cut banking services for the family that’s in business with... 

A 50-year-old hole in the wall transformation

By: Martin Zhuwakinyu     14th July 2017 Without question, the word that currently ranks, and undisputedly so, as the most overused word is ‘transformation’. Everything today has to be transformed; that is the fashion. As to what needs to be transformed, and then to what . . . well, that is quite a different matter. The risk of its... 

Fitch next to downgrade Eskom, Transnet to align with sovereign ratings

By: Natasha Odendaal     12th April 2017 South African State-owned Eskom and Transnet have also been downgraded by ratings agency Fitch to align with the recent downgrade of South Africa’s sovereign rating. Eskom’s long-term local currency issuer default rating (IDR) and the senior unsecured local currency rating have been downgraded... 

One of the rarest precious metals is on best run in a decade

By: Bloomberg     7th March 2017 Rhodium’s on the best run in a decade on expectations of more demand for the material that’s used in cleaning toxic car emissions. One of the rarest precious metals, it climbed the past seven months and is up 19% this year, outperforming most major commodities. Mostly used alongside palladium in... 

Glencore considering bid for Impala’s chrome waste business

By: Bloomberg     1st February 2017 Glencore, the mining and trading firm run by billionaire Ivan Glasenberg, is considering a bid for Impala Platinum Holdings’s 65% stake in a chrome waste-retreatment operation in South Africa, two people familiar with the matter said. Glencore already has an agreement to buy metal from Chrome... 

Nedbank urged by Minerals Minister to retain Guptas as clients

By: Bloomberg     13th December 2016 Nedbank Group said South African Mineral Resources Minister Mosebenzi Zwane urged the lender to reconsider its decision to sever ties with companies tied to the Gupta family, who are friends of President Jacob Zuma and in business with his son. Nedbank, in a letter to Oakbay Investments dated... 

$300m facility for African power, infrastructure projects announced

By: Mia Breytenbach     7th October 2016 Standard Bank of South Africa (SBSA), US overseas development financier Overseas Private Investment Corporation (OPIC) and diversified, community-based financial services company Wells Fargo Bank have announced a $300-million facility to fund power and infrastructure projects in Africa. The... 

3.3% growth is what happens when SA works together – Cabinet

By: News24Wire      15th September 2016 The fact that South Africa’s Gross Domestic Product (GDP) managed to expand 3.3% demonstrates what can be achieved when government, business and labour work together, said Jeff Radebe, minister in the presidency responsible for monitoring and planning on Thursday. Briefing journalists on... 

Standard Bank recognised at 2016 Euromoney Awards for Excellence

7th July 2016 Standard Bank has been recognised as Africa’s Best Bank for Markets and Africa’s Best Bank for Wealth Management at the 2016 Euromoney Awards for Excellence, in London. In addition, Euromoney also named Standard Bank as the Best Bank in Uganda, (Stanbic Uganda) and in Zambia, (Stanbic Zambia).... 

Standard Bank and Vumatel accelerate delivery of high-speed fibre to South African suburbs

19th April 2016 Standard Bank and Vumatel have signed a significant finance deal on 19 April 2016, which will provide Vumatel with the financial resources required to speed-up the delivery of broadband internet services and expand into new markets within South Africa.  The deal, likely to be one of the largest... 

$240m China, SA investment for Uganda phosphate project

By: Ilan Solomons     4th March 2016 The Sukulu phosphate project, in Tororo district, Uganda has received $240-million in development funding, which represents one of the largest privately-funded mining sector investments in Uganda and sets a “unique precedent” for public-private partnerships in the country, says Uganda’s Ministry... 

Standard Bank and ICBC to raise R10 billion to support SA power generation

4th December 2015 Over the next five years, Standard Bank will assist its strategic partner, the Industrial and Commercial Bank of China to raise R10 billion  to support the development of South Africa's power generation infrastructure, said Standard Bank Group Chief Executive Sim Tshabalala. This follows the... 

Xenophobic attacks a big worry for business

By: News24Wire      22nd April 2015 In a strongly-worded statement, Business Against Crime South Africa (Bacsa) said on Tuesday it is clear that the recent xenophobic attacks cannot be managed by the South African Police Service alone, and it is therefore calling on President Jacob Zuma and the South African National Defence Force... 

Construction of new Jomo Kenyatta airport terminal to begin in January

By: John Muchira     5th December 2014 After a delay of more than three years, construction of a futuristic terminal at Kenya’s Jomo Kenyatta International Airort (JKIA) is finally to start in January. Kenya Airports Authority (KAA) MD Lucy Mbugua says government has appointed the African Development Bank (AfDB) to be the lead... 

Sub Saharan African equity issuance triples to US$ 6.4 billion in the first nine months of 2014

22nd October 2014 • Investment banking Fees for Sub Saharan African Investment Banking services totalled US$118.6 million during the third quarter of 2014 • The value of announced M&A transactions involving Sub Saharan African targets reached US$12.3 billion during first nine months of 2014 

Standard Bank commits more funding to Power Africa initiative

By: Sashnee Moodley     5th September 2014 Banking group Standard Bank has reinforced its commitment to the Power Africa Initiative amidst an increasing pipeline of power projects across sub-Saharan Africa.  

South Africa home to new digital wallet

By: Natasha Odendaal     15th July 2014 As e-commerce and digital payments gain traction worldwide, Mastercard, in conjunction with Standard Bank, on Tuesday launched a digital wallet mobile phone application, MasterPass, as a new way to transact safely and securely when shopping online. MasterPass would enable South Africans to... 

Pembani appoints new CEO

By: Leandi Kolver     24th June 2014 Investment holding company Pembani on Tuesday announced that it had appointed outgoing Barclays Africa CEO Kennedy Bungane as CEO of the group with effect from August 1. Prior to joining Barclays, Bungane had worked within the Standard Bank group, had been the National President of the... 

Talent development critical to sustaining ‘Africa Rising’ narrative

By: Zandile Mavuso     20th June 2014 Africa hosts some of the fastest-growing economies in the world as a result of improved economic governance, accelerated infrastructure investment, rising commodity output and exports and the emergence of a larger middle class. However, there are also concerns about the current lack of talent... 

Talent development critical to sustaining ‘Africa Rising’ narrative

By: Zandile Mavuso     20th June 2014 Africa hosts some of the fastest-growing economies in the world as a result of improved economic governance, accelerated infrastructure investment, rising commodity output and exports and the emergence of a larger middle class. However, there are also concerns about the current lack of talent... 

Sasol’s Kahla new Rhodes council chairperson

By: Tracy Hancock     19th March 2014 The Rhodes University council has elected Rhodes alumnus Vuyo Kahla its new and first black chairperson, the Grahamstown-based university announced on Wednesday. Kahla, who had served the university as a member of both its council and board of governors, took over from Judge Jos Jones, who... 

BLSA ushers in high-profile board members

By: Natalie Greve     13th February 2014 Following a reshuffle of its executive body, Business Leadership South Africa (BLSA) has announced changes to its board of directors, which would now comprise several of South Africa’s heavy-hitters in business. The new board, effective from February 20, would be led by president and Stanlib... 

Kinangop wind park project, Kenya

By: Creamer Media Reporter      6th December 2013 The project has achieved financial close. 

Kinangop wind park project, Kenya

By: Sheila Barradas     8th November 2013 Kinangop wind park project is the first in a series of projects under US President Barack Obama’s Power Africa initiative. 

Standard Bank, ICBC provides $108m for Kenya power project 

By: Leandi Kolver     17th October 2013 Standard Bank and the Industrial and Commercial Bank of China (ICBC) on Wednesday concluded a $108-million debt-financing package with power producer Triumph Kenya for the construction of an 83 MW heavy fuel oil plant. Standard Bank group company CfC Stanbic Bank contributed $28-million of the... 

Phaswana appointed joint Mondi chair

By: Creamer Media Reporter      21st May 2013 International packaging and paper group Mondi has appointed Fred Phaswana as joint chairperson with effect from June 1. Phaswana, who was currently chairperson of Standard Bank Group, Standard Bank of South Africa, the South African Institute of International Affairs and nonexecutive director of... 

Big renewables financing push a highlight of bank’s sustainability report

By: Joanne Taylor     17th May 2013 Standard Bank Group (SBG) has recently released its 2012 ‘Sustainability Report’ and says its sustainability programmes are mutually reinforcing and have served the company well. 

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