FirstRand pursues acquisitions to drive expansion across the continent
FirstRand, Africa’s largest lender by market value, is actively seeking acquisitions of other African banks as part of its expansion strategy. The potential targets may extend beyond traditional banking to include various financial services. Mary Vilakazi, the incoming CEO, expressed interest in exploring different avenues for participating in financial services without necessarily establishing branches or […]
Telkom beats Vodacom and MTN in share performance in 2023
Only Telkom among major South African telecoms saw its share price rise in 2023, thanks to lower spending on backups for power outages and benefiting from rivals’ upgrades. Vodacom and MTN both fell due to power disruptions and tighter consumer spending. Blue Label, tied to struggling Cell C, suffered the biggest drop.Pepkor, Africa’s largest clothing […]
MTN’s top brass gets share windfall
MTN Group, Africa’s biggest telecoms company, rewarded top executives and officials with performance-based shares, totaling millions of Rands, reflecting continued strong financial performance with 9% revenue growth and increased EBITDA. These shares vest over three years, incentivizing future success. Read the full article on ITWeb.
Pepkor considering acquiring Edgars
Pepkor, Africa’s largest clothing retailer, is exploring a potential takeover of South African rival Edgars, according to people familiar with the matter. The owner of chains including Pep, Ackermans and Tekkie Town is considering paying as much as R2.4 billion for the 94-year-old brand, which three years ago was bought out of business rescue by […]
Tiger Brands expanding in to the informal sector
Tiger Brands is making changes to its portfolio to focus on high-margin categories and expand its presence in the informal sector. This is in response to the challenging trading environment in South Africa, which is marked by high food inflation, cost-conscious consumers, and unreliable electricity supply. Read the full article on IOL.
OUTsurance’s returns trackrecord makes it worth considering for stock investors
It can be tempting to invest in companies that promise big returns, even if they have no history of making money. However, these high-risk investments often fail, and many investors lose money. Instead, it’s generally better to invest in companies that already generate revenue and profits, such as OUTsurance Group. Even if OUTsurance Group is […]
Depressed fertiliser pricess pull down Omnia’s H1 profit
Omnia Holdings, a crop nutrients manufacturer, reported a surge in volumes as farmers purchased more of the commodity. However the company reported a 13% drop in revenue, and a 4% decline in half-year profit due to lower fertiliser prices. CEO Seelan Gobalsamy said fertiliser prices have come down by 50% since the beginning of the […]
Shoprite’s Q1 sales up by 13.2%
South Africa’s largest supermarket chain, Shoprite, saw its first-quarter sales increase by 13.2%. This growth was driven by the opening of 81 new stores and continued gains in market share. Shoprite’s ability to cater to both low-income and middle-high income shoppers has helped to insulate it from the rising cost of living. Read the full […]
If you had invested in Standard Bank three years ago, you now have an 84% return
Standard Bank Group’s share price has risen 53% over the past three years, outperforming the market return of 14%. The company’s earnings per share (EPS) have grown at an average annual rate of 34% over the same period. Standard Bank Group is a fundamentally sound company with good growth prospects. However, investor sentiment towards the […]
AVI’s stock rises based on a ‘pleasing’ first-quarter performance
Shares of South African food producer and fashion retailer AVI jumped 4.32% yesterday after its chairman Mike Watters provided an update on trading conditions for the first quarter ended September 2023. The shares closed 4.32% higher at R74.18 on the JSE yesterday.. Read the full article on IOL.