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Financial News

Ninety One SA clients increase shareholding in Murray & Roberts

By: Tasneem Bulbulia     19th January 2021 JSE-listed Murray & Roberts has received formal notification that clients of financial services provider Ninety One SA have, in aggregate, acquired an interest in the ordinary shares of the company. The total interest in the ordinary shares held by Ninety One SA clients now amounts to 5.18% of... 

Concerns about future viability drove M&A activity in last months of 2020

By: Marleny Arnoldi     19th January 2021 In its latest 'Global Mergers & Acquisitions (M&A) Industry Trends' analysis, PwC finds that deal volumes went up 18% in the second half of 2020, while deal values increased by 94%, compared with the first half of the year. Deal activity in the second half of last year experienced a surge... 

R68 766 000 invested in Covid-19 research – Nzimande 

By: Sane Dhlamini     18th January 2021 The Higher Education, Science and Innovation Ministry on Monday announced that it has invested R68 766 000 towards coronavirus (Covid-19) research and development. Addressing the media, Minister Dr Blade Nzimande said the funds were approved to support Covid-19 research and development in... 

R68 766 000 invested in Covid-19 research – Nzimande
Minister of Higher Education, Science and Innovation, Dr Blade Nzimande

TransUnion partners with Fincheck to make credit applications easier for consumers

By: Schalk Burger     18th January 2021 NYSE-listed consumer credit information and insights multinational TransUnion has partnered with South Africa’s biggest financial marketplace Fincheck to make the credit application process easier and less frustrating for consumers by finding the best-suited bank, lender or insurer. With its... 

BMO, Linklaters among the world's top mining M&A advisers

By: Marleny Arnoldi     14th January 2021 BMO Capital Markets has been named the top mergers and acquisitions (M&A) financial adviser in the global mining sector for 2020 by value, while Linklaters and Black Cassels & Graydon were the top M&A legal advisers by value and volume, respectively. BMO advised on 13 deals worth $4.8-billion. 

Emvelo refinances Karoshoek Solar One stake through TBI’s new fund

By: Tasneem Bulbulia     13th January 2021 Alternative investment and fund management group TBI has concluded its first deal in South Africa through its new Amandla Renewable Energy Fund. As part of the R440-million deal, TBI, along with Momentum Metropolitan Life and Absa, refinanced the existing funding of Emvelo’s 15% stake in the... 

EIB supports investment in Great Green Wall initiative

By: Tasneem Bulbulia     12th January 2021 Long-term lending institution, the European Investment Bank (EIB), announced on January 11 that it aims to provide new financial and technical support to back sustainable agriculture, clean energy, water, infrastructure and private sector financing in 11 Sahel countries most vulnerable to a... 

M&A challenges remain, but so do lessons – law firm

By: Marleny Arnoldi     12th January 2021 Global law firm Herbert Smith Freehills (HSF) says many of last year’s uncertainties that impacted merger and acquisition (M&A) activity will remain this year. HSF global M&A head Gavin Davies says the significant regional and global questions from 2020 have not gone away, although some have... 

M&A challenges remain, but so do lessons – law firm

Appian Capital Advisory’s second fund reaches $775m cap

By: Simone Liedtke     10th January 2021 Investment advisor Appian Capital Advisory’s second fund was oversubscribed and reached its hard cap of $775-million following strong support from both new and existing Tier 1 investors globally. Called Fund II, the fund will pursue the same proven strategy as Appian’s first fund (Fund I),... 

Appian Capital Advisory’s second fund reaches $775m cap
Atlantic Nickel pit at night

Africa CEO Forum, IFC to host pioneer financial industry summit

By: Tasneem Bulbulia     7th January 2021 To help address the unprecedented challenges facing African economies, the inaugural Financial Industry Summit will convene 500 decision-makers representing the entire spectrum of the financial industry, including bankers, insurers, fintech executives, mobile money operators and microfinance... 

FSCA publishes crypto asset draft declaration

By: Donna Slater     7th January 2021 The Financial Sector Conduct Authority (FSCA) has published for comment a draft declaration on crypto assets as a financial product in terms of the Financial Advisory and Intermediary Services Act of 2002 (FAIS). The FSCA also published a statement in support of the draft declaration, with the... 

AfDB appoints new DGs, deputy DGs across Africa

By: Donna Slater     7th January 2021 The African Development Bank (AfDB) Group has appointed new directors-general (DGs) for the East, Central and Southern Africa regions and deputy DGs for the East, Central, Northern, Southern and West Africa regions.   The central Africa region’s new DG is Serge N’Guessan. He will drive and ensure... 

Sanlam to take stake in new unit of billionaire Motsepe's firm

By: Reuters     18th December 2020 South Africa's biggest insurer Sanlam said on Friday it would take a minority stake, worth $51-million, in a new subsidiary being set up by billionaire Patrice Motsepe's African Rainbow Capital Financial Services (ARC FS). Sanlam will take a 25% stake in the subsidiary which will hold ARC FS's... 

Capprec approved for secondary listing on A2X

By: Schalk Burger     10th December 2020 South African financial technology (fintech) group Capital Appreciation  (Capprec) has been approved for a secondary listing on A2X Markets. Its shares will be available for trade on A2X from December 18. 

Visa adds partner toolkit, new fintechs to fast-track programme to help restore global economy

By: Schalk Burger     4th December 2020 As money management becomes increasingly digital, fintechs play a pivotal role in helping to restore and rebuild the global economy, says global payments and financial services company Visa. Visa has added a new Partner Toolkit and Visa Ready Fintech Enabler certification to its Fast Track... 

Fund helps South African universities unlock benefits of homegrown IP 

By: Donna Slater     25th November 2020 Since its inception in February, the University Technology Fund (UTF) has approved six investments. Technology and innovation incubated in South Africa’s universities is, as a result, being commercialised and a step closer to commercialisation, creating significant economic, investment and job... 

Fund helps South African universities unlock benefits of homegrown IP
SA SME Fund CEO Ketso Gordhan

Ghana urges African governments to allow some independence in mining investment decisions

By: Simone Liedtke     18th November 2020 Allowing a degree of independence when investment institutions decide on investments with commercial principles, is “a model that other African countries may want to consider replicating,” Ghana Infrastructure Investment Fund (GIIF) CEO Solomon Asamoah urged on November 17. He said this model... 

CEOs of large companies commit to paying SME suppliers within 30 days 

By: Tasneem Bulbulia     17th November 2020 In an effort to ensure small and medium-sized enterprises (SMEs) in South Africa survive the economic crisis, more than 50 large companies have formally committed to paying their SME suppliers within 30 days. The initiative, called #PayIn30, is spearheaded by Business for South Africa (B4SA), the... 

Moody’s affirms AfDB’s AAA credit rating

By: Donna Slater     16th November 2020 Moody’s Investor Service has affirmed the African Development Bank’s (AfDB’s) AAA credit rating, with a stable outlook. The AAA rating from Moody’s follows earlier affirmations of the AAA rating of the bank, with stable outlook, by the other leading rating agencies, namely Fitch Ratings,... 

Economy to affect home builders more

By: Mamaili Mamaila     13th November 2020 The effects of Covid-19 and the sluggish economy remain the biggest challenge for the civil engineering and construction sectors. 

Economy to affect  home builders more
SONGEZO BOOI After almost 12 years, the home-building industry is still struggling to reach its former peak

Fintech a gateway for Africans to access financial services

By: Marleny Arnoldi     12th November 2020 Financial inclusion has been one of Africa’s greatest success stories over the past decade, with more than 470-million mobile money accounts having been created. Kenya-based Cellulant Corporation CEO Ken Njoroge on November 12 said that, with financial technology (fintech) financing of between... 

FNB launches new smart solutions on its app for customers  

By: Simone Liedtke     9th November 2020 Financial services provider FNB on November 9 launched its latest edition of nav>> Smart Tools via its FNB application (app) to assist customers in managing their money better through "dynamic budgeting", as well as facilitating access to market and creating a digital marketplace for FNB-banked... 

FNB launches new smart solutions on its app for customers
The FNB team gives more insight into the bank’s new smart solution offerings under the ‘Nav >’ banner on its app. Video: Creamer Media’s Kutlwano Matlala. Editing: Creamer Media’s Nicholas Boyd.

JSE, Globacap to establish blockchain-enabled private placements platform

By: Tasneem Bulbulia     5th November 2020 The JSE has agreed the terms of a commercial arrangement with Globacap Technology to establish a blockchain-enabled private placements platform to enable the raising of infrastructure finance and to allow small-to-medium-sized issuers to raise capital in South Africa. The commercial arrangement... 

Mahube Infrastructure starts trading on the JSE

By: Tasneem Bulbulia     5th November 2020 Infrastructure company Mahube Infrastructure has begun trading on the JSE, following the end of trading in shares of GAIA Infrastructure on November 3. Mahube Infrastructure was formerly GAIA Infrastructure. 

Tungsten launches Quantura alternative litigation funding model in South Africa

By: Tasneem Bulbulia     5th November 2020 Global engineering and construction claims consultancy Tungsten Capital has launched its Quantura subsidiary in South Africa, through which it will provide an alternative method of funding and developing commercially viable construction and engineering claims. Allardyce & Partners Attorneys... 

B4SA calls for TERS benefit to ‘be retained’ under Level 1 lockdown

By: Simone Liedtke     2nd November 2020 Business for South Africa (B4SA) has requested a decision reversal following President Cyril Ramaphosa and the National Coronavirus Command Council’s decision to halt the Covid Temporary Employer/Employee Relief Scheme (TERS) benefit. B4SA says that, “if government believes the remaining Level 1... 

Sustainable financing imperative to sustainable future, says JSE’s Soobramoney

By: Simone Liedtke     29th October 2020 Finance has a significant role to play in a sustainable future, which comprises economic, environmental, social and governance responsibilities, JSE chief sustainability officer Shameela Soobramoney said during this year’s virtual Green Building Convention on October 29. Sustainability emerged as... 

US agency partners with Africa50 to attract capital to the continent

By: Tasneem Bulbulia     27th October 2020 Independent US foreign assistance agency the Millennium Challenge Corporation (MCC) has partnered with infrastructure investment platform Africa50 to create a global investment platform to attract more capital to Africa. The organisations have signed a memorandum of understanding (MoU) to develop... 

A2X boasts 37 listings after three years

By: Tasneem Bulbulia     27th October 2020 Three years after launching with just three listings and four brokers, South African stock exchange A2X Markets now has 37 securities listed, five of the country’s top six brokers trading on the exchange and a combined market cap of over R2.1-trillion, it acclaimed in an October 27 media release.... 

Solidarity Fund marks progress

By: Tasneem Bulbulia     22nd October 2020 The Solidarity Fund says that, while there will be a time when its work will no longer be needed, that time has not come yet and, until it does, the fund will continue to work with partners and stakeholders to support the country. As of October 15, the fund had received more than R3.12-billion of... 

Sanlam Investments partners with Robeco to enhance sustainable investing

By: Tasneem Bulbulia     15th October 2020 Investment company Sanlam Investments has partnered with international asset manager Robeco to enhance and cement its commitment to sustainable investment practices and, in turn, revitalise its purpose and create fresh impact, the company says in a statement. Robeco boasts sustainable investing... 

Standard Bank continues to increase exposure to renewables, move away from coal

By: Marleny Arnoldi     15th October 2020 Standard Bank has released its interim Task Force on Climate-related Financial Disclosures report, highlighting that environmental, social and governance aspects remain at the centre of the bank’s agenda of driving sustainable and inclusive growth in Africa. Sustainability head Wendy Dobson... 

Standard Bank continues to increase exposure to renewables, move away from coal

Least developed countries’ debt continues to rise

By: Tasneem Bulbulia     12th October 2020 According to the '2021 International Debt Statistics (IDS)' report, the total external debt of Debt Service Suspension Initiative- (DSSI-) eligible countries climbed 9.5% year-on-year to a record $744-billion in 2019, highlighting an urgent need for creditors and borrowers alike to collaborate to... 

All eyes on MTBPS as South Africa on verge of ‘catastrophic collapse’ of finances

By: Simone Liedtke     12th October 2020 The upcoming Medium-Term Budget Policy Statement (MTBPS) must show that public spending can be “restrained within [South Africa’s] means” so as to avoid a “catastrophic collapse of public finances”, Business Leadership South Africa (BLSA) CEO Busi Mavuso warns. In her weekly newsletter, published... 

ARC Investments successfully raises R750m for new investment opportunities

By: Simone Liedtke     7th October 2020 Investment holding company African Rainbow Capital (ARC) Investments has successfully raised R750-million from shareholders following a recent rights offer to the market. The company said in September that it was seeking to raise R750-million with the intention of deploying the capital in new... 

Insight into Commodity Trading in South Africa

2nd October 2020 World over, most commodities/goods are traded on the exchanges or commodity markets where buyers & manufacturers place their buy/sell bids on goods, and prices are decided based on the demand & supply metrics. There is a continuous variation in demand and supply of the commodities which results... 

Producer to mitigate Covid-19 challenges

2nd October 2020 With the onset of the Covid-19 pandemic, chemicals and energy group Sasol took urgent steps to stabilise the group in the short term. Sasol released its integrated report and 2020 performance for the year ended June 2020, noting revenue at over R190-billion. It was noted that earnings were... 

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