Business News Leaders

Sibanye to axe up to 5270 jobs at former Lonmin mines

Sibanye-Stillwater plans to cut over 5000 jobs at its loss-making Marikana operation. This in a bid to ensure the sustainability of the remaining shafts at the operation. The announcement does however come at a time when Amcu which is the majority union in the platinum sector has declared a dispute…

25 Sep 2019 2AM 6 min

Sasbo warns of 'complete standstill' in the banking sector

The country's biggest financial union, Sasbo has planned a national banking strike on Friday. That's as it calls for a moratorium from banks on job losses. The total shut-down will affect ATMs and other banking services. It will also see around 30 thousand employees stay away from work. Business Day…

23 Sep 2019 2AM 7 min

Grand Parade returns to profit

Grand Parade Investments has broken a two year losing steak to return to profit in the year to end-June. The improvement is largely due to the closure of Dunkin Donuts and Baskin-Robbins. Looking ahead, Grand Parade believes that an expected turnaround in Burger King will fuel further growth of the…

20 Sep 2019 2AM 7 min

Tough macro conditions weigh on Remgro

Subdued economic growth, low business morale and deteriorating operating environments have weighed on Remgro's earnings. With headline earnings per share coming in 4.2% weaker, while its intrinsic net asset value per share fell by over 9% to 233 rand. Joining Business Day TV to discuss the numbers in detail is…

19 Sep 2019 2AM 5 min

SARB leaves rates unchanged, as expected

In the run up to the announcement, analysts were largely expecting the tone of the address to be decidedly more dovish. A panel of experts joined Business Day TV to talk about the decision, Senior Economist at Nedbank Nicky Weimar, Executive Chief Economist at Alexander Forbes Isaah Mhlanga, and Chief…

19 Sep 2019 2AM 10 min

Why a takeover of Eskom's biggest coal supplier is sparking concern

Parliament is demanding stringent conditions for the R59 billion bailout to Eskom which was announced in July. The standing committee on appropriations has added that it wants government to look at other creative ways to fund struggling SOEs and not just gun for the fiscus. In the meantime, the DA…

19 Sep 2019 2AM 6 min

Africa's most attractive investment destinations

RMB's released its ninth edition of the Where to Invest in Africa report and while South Africa still features in the top ten, it has fallen lower down the ranks - yet again - to thirda place with sluggish growth and lack of structural reform hampering its climb. The report…

18 Sep 2019 2AM 7 min

Pan African Resources returns to paying dividends

Pan African Resources has given shareholders a reason to smile. The miner's returned to paying dividends after its annual post tax profit rose to 38 million dollars - boosted by strong revenue growth which shot up 49%, on the back of a higher gold price and enhanced production. Business Day…

18 Sep 2019 2AM 5 min

Construction activity expected to improve

Construction activity is set to improve during the second half of the year and gain further momentum next year. That's according to Afrimat's second quarter construction index. Independent economist Roelof Botha spoke to Business Day TV about the factors that could contribute to the upswing.

18 Sep 2019 2AM 7 min

Comair buffeted by fuel-price volatility and Boeing 737 Max grounding

A R1.2 billion settlement from SAA has provided Comair with much needed cushioning during its full-year and as a result, the airliner's earnings have nearly tripled. Excluding the settlement, the group's profit would have nosedived by 82%. In the meantime, operating expenses grew 16% as the group battled rand and…

17 Sep 2019 2AM 5 min

Sasfin earnings up by almost a third on better credit controls

Financial services group,Sasfin released its annual results today, delivering a near 32% jump in headline earnings per share to 501 cents. This was mainly fuelled by an improvement in its credit-loss ratio and a lower tax bill. Business Day TV caught up with the company's CEO Michael Sassoon for more…

17 Sep 2019 2AM 4 min

Higher costs weigh on Acsa

The Airports Company South Africa's annual profit has slumped by 59%. That's as costs grew by 50% while traffic volumes and non-aeronautical flows came in lower than expected with departing passenger numbers rising a tepid 1.3%. Company's Acting CFO, Lindani Mukhudwani talks to Business Day TV about the company's numbers.

17 Sep 2019 2AM 7 min

Will the oil price spike wipe out October's expected petrol price cut?

The attack on Saudi Arabia's oil facilities has resulted in a record spike in the oil price and hints at increased geopolitical risk. South Africa's Central Energy Fund has forecast a cut in petrol prices for next month but the recent event may cancel out that prediction leaving consumers even…

16 Sep 2019 2AM 6 min

Afrox posts 3.3% rise in half-year revenue

Strong demand from the healthcare sector has kept Afrox from flat-lining. South Africa's largest gas and welding company has reported a 3.3% rise in interim revenue, that's as demand for its products used in hospitals across the country, offset a continued contraction in the manufacturing sector. The group also highlighted…

16 Sep 2019 2AM 6 min

Moyo no longer an Old Mutual employee, says Manuel

In a new twist to the Old Mutal/Peter Moyo saga - now in month three - the insurer's lawyers have sent a letter to Moyo informing him that it's "reconsidered its stance" on further legal action. Business Day TV spoke to Old Mutual Chair Trevor Manuel for more detail on…

13 Sep 2019 2AM 7 min

How Spur plans to cope with SA's shrinking middle class

Spur's reported a close to 6% rise in revenue, with bulk of that growth coming through from its international arm. Overall, the franchise owner opened 59 restaurants over the period. And has further plans in play to open 21 restaurants in the year ahead, 11 in South Africa and 10…

12 Sep 2019 2AM 5 min

What is hampering ARC's performance?

ARC Investments has been hampered by the performance of most of the entities in which its invested as a tough economic environment takes hold. This has resulted in a tepid 2.4% rise in net asset value per share, which is significantly below the medium to long-term expectation of 16%. Business…

12 Sep 2019 2AM 6 min

Aspen set to sign deal with Indian maker of API

Aspen is delivering on its plan to deleverage its balance sheet, cut debt and improve its cash conversion ratio which came to fruition in the second half of the year. With all those factors coming together, the one aspect that doesn't seem to be coming through for the pharmaceutical group…

12 Sep 2019 2AM 8 min

Attacq beats guidance with 10% rise in dividend

Freshly completed buildings at Attacq's Midrand development is already paying off for the group - revenue growth from that project has helped the investment trust grow distributable earnings by 17%. The company's net asset value however has declined due to impairments related to reducing its Rest of Africa exposure. Business…

10 Sep 2019 2AM 7 min

Where is Master Drilling seeing opportunity?

Drilling solutions company, Master Drilling has released its interim numbers posting a near 4% rise in revenue which was boosted by its acquisition of Atlantis. The company says its new business pipeline remains solid as it sees sees growth opportunities in Russia and Australia. Business Day TV sat down the…

10 Sep 2019 2AM 7 min