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04:45 VIEW: Africa's 10 wealthiest cities

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  • Naspers CFO plans 'significant investments' in coming months

    02 December 2018 7:49 AM 26

    Naspers has its sights set on acquisitions as Africa’s largest company by market value targets “significant investments” for its $10bn cash pile in the next couple of months, Chief Financial Officer Basil Sgourdos said. “In the first half of this year we have done about $750m in deals, and there are some near-term opportunities coming up,” Sgourdos said by phone

  • Patagonia gives tax windfall to environmental groups

    30 November 2018 6:40 PM 24

    Ventura — Patagonia, the outdoor gear company, is passing along the $10m (about R138m) it saved from tax cuts to non-profit environmental groups. Corporations received a windfall from the GOP's sweeping overhaul of the US tax code last year, which slashed corporate rates from 35%, to 21%. The California company said Wednesday that the donation is in addition

  • QUICK TAKE: 10 things you should know about Eskom's Tegeta contract

    30 November 2018 10:36 AM 37

    The report by Parliament’s portfolio committee on public enterprises on its inquiry into Eskom painted a bleak picture of a state-owned entity where governance structures were allowed to disintegrate, threatening its viability. The questionable 2016 contract with formerly Gupta-owned Tegeta Exploration and Resources, which ran into operational challenges

  • Markets LIVE: Tokyo stocks open flat, rand stable

    30 November 2018 7:22 AM 28

    Tokyo stocks opened flat on Friday as investors took wait-and-see attitudes ahead of a US-China summit during the G20 this weekend.The benchmark Nikkei 225 index was down just 0.01% or 2.19 points at 22 260.41 in early trade, while the broader Topix index was up 0.08% or 1.38 points at 1 660.85. "As investors step aside to wait for the US-China summit

  • Tesla customers rack up 1 billion miles driven on autopilot

    29 November 2018 9:00 PM 26

    Tesla says owners of its electric vehicles have driven 1 billion miles using the company’s Autopilot driver-assistance feature - a significant milestone for the automaker, which uses the collected data to improve the software as a competitive advantage. Tesla, which announced the mark in a Tweet today, has installed Autopilot hardware on every car it’s produced

  • Anglo CEO says investor confidence returns to South Africa

    29 November 2018 8:22 PM 51

    Anglo American [JSE:AGL] the company that grew to be South Africa’s biggest during apartheid, says it’s ready to invest in the country again. After years of legislative uncertainty, relations had soured to the point where Anglo’s chief executive officer wasn’t on speaking terms with the former mining minister after he made a critical speech. Things have improved

  • Reserve Bank independence `not just an emerging-market concern'

    29 November 2018 5:02 PM 29

    Threats to central bank independence are no longer just an “emerging-market phenomenon,” according to South African Reserve Bank Governor Lesetja Kganyago. Kganyago mentioned recent attacks on the US Federal Reserve (Fed), Bank of England and European Central Bank (ECB) as examples at a lunch with editors in Johannesburg on Thursday. “There’s a concern

  • SARS penalties for outstanding corporate tax returns to kick in soon

    29 November 2018 2:33 PM 45

    The SA Revenue Service (SARS) said on Thursday that it will soon impose administrative non-compliance penalties for outstanding corporate income tax (CIT) returns. Administrative non-compliance penalties will be imposed on companies that fail to submit an income tax return, as required under the Income Tax Act, for years of assessment ending during the 2009 and subsequent

  • SA to introduce new oil and gas law after 2019 polls

    29 November 2018 8:12 AM 23

    South Africa will introduce new oil and gas laws after elections next year, said Mineral Resources Minister Gwede Mantashe. "We will make sure that it will be one of the first laws to be processed in the new parliament after the elections," he said in Cape Town on Thursday. The process of approval of exploration applications will be completed in terms

  • 4 successful land reform elements and the 'wolf at the door' for SA farmers

    29 November 2018 4:15 AM 31

    Of the 64 countries globally which have embarked on land reform, 17 had restitution programmes in place and only 11 have claimed to be successful, says Dr Theo de Jager, president of the World Farmers Association. "Our research shows that there are four elements the countries with successful land reform had in common. This should be a guideline for SA as well," De Jager