The Brief is an online news portal and going source with a focus on the Namibian business sector, current affairs, companies and financial markets.
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March 22, 2023
Africa-news (579)
Shares of JSE-listed grocery chain Spar slumped on Wednesday, after it reported muted operating profit growth for its year to end-September, hit by surging costs including for fuel and promotions, while its full-year dividend has more than halved.
Relatively little is known about Sam Bankman-Fried, the supposed crypto wizard who built a multi-billion-dollar exchange and in a few days saw it disappear in a puff of smoke.
The world’s population reached 8 billion Tuesday, according to estimates from the United Nations, even as the international body said that a surge in births in lower income countries is likely to create risks.
Tech companies are trimming staff and slowing hiring as they face higher interest rates and sluggish consumer spending in the US and a strong dollar abroad.
Investment company Brait, whose largest shareholder is Christo Wiese, has announced plans to spin off and separately list Premier Group, in an initial public offering (IPO) that would value the fast-moving consumer goods group at as much as R8.6 billion.
The rand has strengthened significantly in recent sessions, regaining lost ground after five months in the wilderness, say economists at Nedbank.
Mozambique has started exporting liquefied natural gas for the first time, in a move the country’s President Filipe Nyusi has described as historic.
The government of Angola has taken over the 50% of Unitel that it did not already own.
DStv operator Multichoice has published its interim results for the six months ending 30 September 2022.
South Africa’s government will take several years to bring its wage bill to more sustainable levels and may have to consider retrenching some staff, Finance Minister Enoch Godongwana said.
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The world’s largest crypto exchange, Binance, has walked away from a deal to acquire its troubled archrival, FTX, leaving the smaller company on the brink of collapse after a surge of withdrawals.
The SA Competition Commission has blocked a deal whereby AkzoNobel, the Dutch group that owns the paint brand Dulux, wanted to buy the owner of its local rival, Plascon, in South Africa.
South Africa’s President Cyril Ramaphosa said more climate funding needs to come in the form of grants and concessional loans, to avoid the continent ramping up debt.
Tanzania’s President Samia Hassan will present an US$18 billion plan to build renewable power generation in southern Africa at talks in Egypt as leaders from the continent seek to increase climate finance in the region.