Emira, a diversified property owner in SA and the US, has made a cash offer to acquire Transcend Residential Property Fund.
Author: Staff Writer
Superbalist, a major South African online clothing store under the Takealot group, is considering staff reductions as it faces increased pressure from offline retailers. The company has initiated a Section 189 process for business restructuring.
Standard Bank, Africa’s largest lender by assets, reported a 44.1% year-on-year increase in interim profit, reaching R22.1 billion. This growth comes despite tough economic conditions and a surge in bad loans.
Exxaro Resources, a South African diversified resources group, lowered its interim dividend by 28% to 1,143 cents per share due to lower sales prices, sales volumes, and logistics challenges affecting operations.
Expected Earnings Increase: Sun International anticipates a significant increase in its interim earnings for the six months ended June 30, 2023, ranging between 73% and 98%.
Growthpoint, South Africa’s largest property company, plans to invest approximately R1.2 billion ($63 million) in student housing by 2026.
Africa Mobile Networks (AMN) has entered into a commercial agreement with Starlink, SpaceX’s constellation of low Earth orbit satellites, to provide high-speed, low-latency connectivity to AMN’s mobile network stations.
Nederburg has partnered with Chef Nti (Nthabiseng Ramaboa) to create exciting new recipes to celebrate the 50th anniversary of their red blend, Baronne.
Amazon Web Services (AWS) has opened its third AWS Skills Center globally, with the first one outside the US, and it is located in Cape Town, South Africa.
The African Rail Industry Association (ARIA) warns that the appointment of an independent and impartial infrastructure manager (IM) is crucial for the revitalization of South Africa’s freight rail future.