AB InBev, the world’s largest beer maker, has outperformed market expectations for profit in the second quarter, despite seeing a decline in sales volumes in key markets like Brazil and China. The company reported a 6.5% rise in organic operating profit, exceeding analyst forecasts, mainly driven by revenue growth and disciplined cost control. This helped the brewing giant widen its margins, offering some relief to investors in an otherwise challenging operating environment. However, not everything went smoothly. The brewer, known for brands like Stella Artois and Corona, saw total volumes drop by 1.9% — far worse than the expected 0.3%…
Author: Staff Writer
Anglo American has posted a staggering $1.9 billion loss in the first half of its financial year, reflecting the cost of its ongoing restructuring. While that headline figure may alarm some, the group insists it is all part of a broader transformation that could redefine its future. Revenues from its continuing operations dipped by 7%, coming in at just under $9 billion. Profits before tax and other adjustments also fell, impacted heavily by a $500 million drop in earnings from De Beers, which has been grappling with sluggish diamond sales and excess inventory. The group still managed to declare a dividend of 7 cents per…
FNB is pleased to announce the appointment of Ghana Msibi as the new CEO for FNB Business, South Africa’s largest SME lender, serving over one million customers.Ghana will be driving the FNB Business strategy that is focused on growth, as we accelerate our leadership position in this segment and increase market share in business banking, with customer-focused products that keep South African businesses growing. Ghana will report to the Chief Executive Officer of FNB, Harry Kellan and will be a member of the FNB Executive Committee.With over 22 years of experience in financial services, Ghana has become admired for achieving…
South Africa’s state-owned insurer, Sasria, has built a financial buffer of R20 billion to prepare for any future unrest. This move comes just four years after the July 2021 riots in KwaZulu-Natal and Gauteng, which left 354 people dead and caused widespread destruction. At the time, Sasria had to cover claims worth R32 billion, turning to the government for R22 billion in emergency funds. The insurer, which specialises in cover for politically motivated damage, public disorder and terrorism—areas most private insurers avoid—has now positioned itself to handle another large-scale crisis without needing taxpayer support. Sasria was established in 1979 following…
The Minister of Transport is inviting nominations for Non-Executive Directors to serve on the Board of the Road Accident Fund (RAF)—a crucial state-owned entity that supports road users injured in accidents across South Africa. Candidates must have expertise in areas such as insurance, law, finance, governance, medical services, accounting, actuarial science, or disability advocacy. Strong leadership, strategic oversight experience, and a clear understanding of the RAF’s mandate are essential. Nominees will guide the RAF’s governance, help protect commuter and consumer interests, and ensure the Fund delivers on its legal obligations. The board plays a critical role in shaping one of the country’s most important public compensation…
Boxer, the budget-friendly supermarket brand, is charging ahead with a strong start to its 2026 financial year. In just the first four months, the company opened seven new superstores and ten liquor stores, helping push its turnover up by 12.1% compared to the same period last year. This growth builds on momentum from the second half of 2025, where sales also rose. The brand’s strategy of opening more stores and offering value to cost-conscious shoppers appears to be paying off. With consistent market share gains and better performance in recent months, Boxer is confident it will hit its full-year growth…
The Johannesburg Social Housing Company (JOSHCO) is looking for a dynamic and ethical Chief Executive Officer to lead its strategic and operational mandate. The CEO will oversee the full management of the organisation and ensure the delivery of quality social housing in accordance with agreements with the City of Johannesburg. The successful candidate will be a high-performing leader with an impeccable track record and the character to represent JOSHCO with integrity to both the shareholders and the broader public. This role demands strategic foresight, excellent governance capability, and a passion for driving impact in the affordable housing sector. Closing Date:…
Gita Gopinath, the current First Deputy Managing Director (FDMD) of the International Monetary Fund (IMF), will leave the organization at the end of August, as announced by IMF Managing Director Kristalina Georgieva. After more than four years at the IMF, Gopinath is returning to academia as the inaugural Gregory and Ania Coffey Professor of Economics at Harvard University. Georgieva praised Gopinath as an exceptional intellectual leader and a dedicated manager, highlighting her contributions during a challenging period that included the pandemic, wars, and the cost-of-living crisis. Gopinath was the first female chief economist in IMF history, recognized for her analytical…
Stellantis is set to launch the Leapmotor brand in South Africa this September, debuting the C10 electric SUV in the local market. The C10 features a petrol engine solely for charging the battery, with plans for additional Leapmotor models, including fully electric versions, expected next year. Leapmotor has garnered attention with the recent rollout of its all-electric B10 SUV, which boasts smart-driving features and lidar technology, priced under $18,000. Earlier this year, Stellantis acquired a 21% stake in Leapmotor for $1.6 billion, forming the joint venture Leapmotor International, where Stellantis holds a 51% stake. Mike Whitfield, MD of Stellantis South…
A quiet revolution is reshaping the insurance industry led by a new generation of customers with vastly different expectations. Gen Z and Millennials are forcing insurers to rethink not just how policies are sold, but how they’re explained, experienced and embedded in daily life. These younger customers are more digitally fluent and far more discerning than their predecessors, says Alain Nathan, Divisional Executive: Commercial and Private at GIB. “Gone are the days of drawn-out paperwork and hour-long meetings. Younger clients want efficiency, transparency and flexibility, and ideally with the convenience of being able to use their smartphones. They’re still open…