Telecommunications group Vodacom on Tuesday reported a double-digit growth in revenue during the third quarter of the year on the back of its Vodafone Egypt acquisition and rand depreciation against its basket of international currencies. Group revenue increased 14.8% to R30.7-billion during the three months to December 31, 2022.

The total spending by South African consumers in December reached R100-billion, while the volume of transactions reached 142-million, with 45-million transactions conducted at grocery stores and supermarkets, 12.8-million transactions at fuel service stations, eight-million at eateries and restaurants and 7.5-millionat fast-food outlets. However, in terms of value, consumers spent R26-billion at grocery stores and supermarkets, [...]

The JSE share price of Nampak fell by more than 15% on January 30, after the company revealed to shareholders that it was still planning a significant capital raise, although lower than the previously planned R2-billion. In a business update and trading statement, the company said it had achieved revenue growth in excess of 20% [...]

The 10 MW solar power plant at Evander is averaging savings of $145 000 a month for the Mpumalanga gold mine, Pan African Resources said on Monday. Construction is scheduled to begin in June on yet another solar facility, this time an 8 MW photovoltaic solar plant at Barberton Mines’ gold operations, also in Mpumalanga, for [...]

South Africa has identified more than R60-billion of investments needed to help communities in the coal-mining Mpumalanga province as the industry gradually winds down, US Treasury Secretary Janet Yellen said as she announced an additional $45-million in grant support. The investments form part of a 1.5 trillion-rand government blueprint to reduce South Africa’s reliance on coal, [...]

The stand-off between Eskom and the National Treasury over funding for diesel has ended with an agreement that government will support Eskom borrowing from commercial banks, should it be unable to reprioritise its own resources.  In December, Eskom declared that it had run out of money to buy more diesel, having spent R12-billion, overshooting its [...]

Capital expenditure of mining companies is increasingly being aimed at renewable energy projects and associated grid development – a trend that is likely to continue throughout this year, financial risk management, solutions and insights company Fitch Solutions commodities analyst Amelia Haines says. She notes that the use of renewable energy to accommodate current and future energy needs will [...]

Transnet, which operates South Africa’s ports and freight rail networks, is planning to sell a dollar-denominated bond under a $6-billion note programme, people familiar with the situation said. The bond will be of five-year tenure and investor meetings ahead of the sale will begin Thursday, the people said, asking not to be identified because the [...]

US giant aerospace and defence group Boeing has released its results for 2022. While revenues were up 7%, year-on-year (y/y), to $66.608-billion (from $62.286-billion), other indicators deteriorated, y/y. Net loss went from $4.29-billion in 2021 to $5.053-billion in 2022, and the loss from operations last year came to $3.547-billion in comparison to 2021’s loss of [...]

Uganda will ask Turkish firm Yapi Merkezi to secure financing for a $2.2 billion rail link to the Kenyan port of Mombasa and is eyeing export credit agencies as potential sources, a senior official told Reuters. The Turkish construction company had previously confirmed a memorandum of understanding was signed with the Ugandan government for a [...]

High hopes that South Africa's government will next month lay out plans to take on a majority of the debt owed by beleaguered state utility Eskom have lifted the company's bonds, providing some relief to investors facing a long and uncertain wait. South Africa has been struggling for years to overhaul its state-power company which [...]

South Africa’s worst ever power blackouts are threatening platinum and palladium supplies in the top miner, both now and in the years ahead. Outages last year curbed output of the metals, and the power crisis that’s crimping the economy has worsened in recent months. The nation’s platinum-group metals production will likely fall this year, according [...]