NewsSouthern Africa

Thu,30Mar2017

Southern Africa

Nigeria fine to push South Africa's MTN to 2016 loss, shares fall

South African mobile phone operator MTN Group expects to report a full-year loss due to a $1bn regulatory fine in Nigeria and underperformance there and at home, it said on Wednesday, sending its shares to a two-month low.

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Botswana's growth to almost double as commodity sales rebound

Botswana's economy will grow by nearly double in 2017 compared to the previous year as Africa's largest exporter of diamonds shakes off a slump in global commodity prices and electricity shortages.

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South Africa to publish contested mining charter by March

South Africa will publish its revised mining charter by next month, a minister said on Monday, bringing closer legislation meant to redress racial economic inequality but which has concerned companies struggling with lower commodity prices.

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South Africa's Kumba pays $186 million to settle tax dispute

South Africa's Kumba Iron Ore, a unit of Anglo American, will pay $186m to settle a tax dispute with local authorities, the company said on Friday, sending its share price over 7% lower.

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South Africa posts trade surplus in December as economy slows

South Africa recorded a larger-than-expected surplus in December, largely due to a sharp fall in imports as the continent's most industrialised country continued to see subdued consumer and business confidence.

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World's largest brewer offers voluntary severance in South Africa

 Bottles of beers on sale in London. Budweiser maker is Anheuser-Busch InBev. Photo: Kirsty Wigglesworth/AP/SIPAAnheuser-Busch InBev, the world's largest brewer, has offered more than 1,000 employees in South Africa voluntary severance following its merger with SABMiller, the Business Day newspaper reported on Monday, citing an internal memo.

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