Tag: South Africa

SPAR moves to rebuild revenue
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South Africa’s SPAR moves to cut jobs amid weak sales and rising costs

SPAR Group introduces retrenchments and cost-saving measures to strengthen operations amid weak trading conditions.

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South Africa’s Vukile buys $202 million stake in Barcelona mall

Vukile acquires a $202 million stake in Barcelona’s Splau mall, partnering with Unibail-Rodamco-Westfield to grow in Spain.

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South Africa’s Woolworths to buy $300 million convenience foods supplier, in2food

Woolworths to acquire in2food, boosting premium food supply, supply chain efficiency, and innovation under its existing management.

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MTN CEO Ralph Mupita earns $4.1 million as telecom giant returns to profit

MTN Group posts $2.81 billion profit; CEO Ralph Mupita takes home $4.1 million in 2025 compensation.

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Shoprite enters community banking through R&A Cellular acquisition

Shoprite acquires R&A Cellular to expand digital payments and financial services through local spaza shops.

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South African businessman Robert Gumede’s Vision Group seeks solution to Tongaat Hulett’s financial crisis

Robert Gumede’s Vision Group pursues a solution to rescue Tongaat Hulett, aiming to preserve its financial and social value.

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Portside Tower
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Surging oil prices put South Africa’s fragile recovery at risk

Brent above $100 raises inflation and growth risks for South Africa as conflict drives volatile oil markets and higher fuel costs.

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South African billionaire Patrice Motsepe.
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South African billionaire Patrice Motsepe to receive $27.1 million dividend

Patrice Motsepe will receive $27.1 million as African Rainbow Minerals pays a higher interim dividend after strong earnings growth.

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Naspers shares rise after 20% slump, market cap hits $44 billion

Shares of Naspers rebound after a 20 percent slump, lifting market value above $44 billion as investor confidence returns.

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Portside Tower
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South Africa’s economy grows fastest in three years amid reforms

South Africa’s GDP grew 1.1 percent in 2025, its fastest pace in three years, driven by agriculture, trade, and finance sectors.

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Absa, South Africa’s third-biggest lender, boosts headline earnings to $1.52 billion

Absa’s headline earnings rise 12% to $1.52 billion, driven by stronger client activity and higher non-interest income.

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South African billionaire Patrice Motsepe.
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South African billionaire Patrice Motsepe’s net worth drops below $4 billion

South African billionaire Patrice Motsepe’s net worth falls below $4 billion after a $400 million slide tied to declines in key mining stocks.

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