African Rainbow Minerals (ARM) has announced to shareholders that it anticipates a substantial decrease in earnings for the 2023 financial year. ARM’s financial results for the year ending on 30 June 2023 will be disclosed on 4 September 2023, providing more detailed information about the factors contributing to the earnings decrease.
Author: Staff Writer
Blue Label Telecoms has issued a trading statement informing shareholders that its basic, headline, and core headline earnings per share for the year ended 31 May 2023 are expected to decrease by more than 60%. The anticipated decrease in earnings for Blue Label Telecoms is largely influenced by the extraneous contributions linked to the recapitalization transaction of Cell C.
Telkom shareholders showed little interest in former CEO Sipho Maseko’s takeover bid during the company’s Annual General Meeting (AGM) held on Thursday. Telkom, in its rejection, cited uncertainty about the effectiveness of Maseko’s strategy, despite the consortium amassing R12 billion. The company also expressed doubts about the consortium’s ability to fund the bid and expressed dissatisfaction with the offered price. The consortium has responded by stating that it was not given an opportunity to present its case to Telkom’s management or shareholders and address the concerns raised.
MTN South Africa is expanding its presence in the financial services sector by offering “budget-friendly” funeral cover to South African consumers. Telecoms operators in South Africa, including MTN, Vodacom, and Telkom, are increasingly venturing into financial services as they seek to diversify their revenue sources beyond voice and data products, which face margin pressure.
Momentum Metropolitan, an insurance and financial services group, anticipates an increase in earnings for the year ending June, attributed to a decline in life claims as the impact of the Covid-19 pandemic subsides. In addition, Mike Adsetts assumed the role of chief investment officer (CIO) at Momentum Investment Management on July 1.
South32 CEO, Graham Kerr, believes that China’s efforts to strengthen its economy will benefit the base metals market.
Suzuki has launched the XL6, a stylish crossover aimed at competing with the Honda BR-V.
The extended partnership between Standard Bank and ICBC is poised to contribute to the economic growth of Africa, strengthen bilateral trade, and foster closer ties between the two regions, creating long-term regional and global development opportunities.
Airlink expressed apologies to its customers for any inconvenience and disruption caused by the temporary suspension of cargo operations and directed affected parties to contact the Airlink Cargo customer care centre for assistance.
South Africa and China on Wednesday signed deals covering emissions technology, electricity transmission and distribution, and nuclear power on the sidelines of the Brics summit. The summit of the Brics group of emerging economies — comprising Brazil, Russia, India, China and South Africa — runs from Tuesday to Thursday in Johannesburg. Brics members are seeking to use the summit to forge the grouping into a counterweight to Western dominance of global institutions.