Sector: Financials
The company is available at Interactive Brokers
Nedbank Group (JSE:NED) is one of South Africa's four largest banks, with Nedbank Limited as its principal banking subsidiary.
Nedbank Group offers the following solutions through its frontline clusters, Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking, Nedbank Wealth and Nedbank Africa Regions:
Nedbank's presence
Semi-Annual values ($m)
Change (y/y)
P / E
Potential dynamics
Interminable power cuts have driven a record seed funding round for South African start-up Hohm Energy.
2024-02-23 07:17 +02:00
Sekunjalo has claimed it plans to sue President Cyril Ramaphosa and state organs for R75-billion.
2024-01-16 10:54 +02:00
The JSE has warned AEEI and Ayo Technology Solutions that they could have their shares suspended from trading.
2024-01-03 11:46 +02:00
New customer sentiment data about the South African banking sector has yielded intriguing insights.
2023-11-30 12:36 +02:00
Banking app kidnappings, with the aim of gaining unauthorised access to victims’ money under duress, are on the rise.
2023-11-07 15:33 +02:00
Eskom chairman Mpho Makwana will step down at the end of the month and will be replaced in the role by Mteto Nyati.
2023-10-09 19:24 +02:00
Capitec and Discovery Bank have become the latest to offer access to PayShap, BankservAfrica’s rapid payments platform.
2023-08-15 08:30 +02:00
A tiny island off the UK coast is seeking skilled professionals in finance, insurance, technology and gaming.
2023-08-11 07:32 +02:00
PayShap, South Africa’s real-time digital payments service, has shown robust uptake since its launch in March.
2023-08-02 11:29 +02:00
Nedbank’s Rafeea Saib on the top priorities for IT leaders, and why she’s a fan of what Elon Musk has achieved.
2023-07-28 11:40 +02:00
Government incompetence has left critical infrastructure in tatters, forcing companies to step into the breach.
2023-07-21 09:21 +02:00JSE:GLN JSE:AGL JSE:SBK JSE:NED JSE:DSY JSE:INP JSE:INL JSE:TBS JSE:PIK JSE:AVI JSE:MPT JSE:ARH JSE:ISA
Bradwin Roper, newly appointed CEO of MTN’s financial services unit in South Africa, has big plans for Mobile Money.
2023-07-13 14:14 +02:00
Wesley Hellyar, founder of Moth Innovate, tells TechCentral why he admires former FNB boss Michael Jordaan – and why you really should read Peter Thiel.
2023-06-30 11:39 +02:00
In this episode of the TechCentral Show, Andile Ngcaba looks back at 20 years of Convergence Partners – and what comes next.
2023-06-23 11:30 +02:00
President Cyril Ramaphosa met with business leaders as concern over South Africa’s multiple crises grows.
2023-06-07 07:41 +02:00
Johannesburg’s City Power is in talks with Eskom to reduce outages in South Africa’s biggest and wealthiest city.
2023-05-25 15:58 +02:00
Deputy President Paul Mashatile is set to meet captains of industry amid an energy crisis that’s stifling economic growth and souring investor sentiment.
2023-05-12 12:47 +02:00
Sasria appears to have walked back its earlier decision that it would no longer provide cover for damage caused by a collapse of Eskom’s grid.
2023-05-10 13:00 +02:00
TechCentral asked Nedbank executive head of compliance Maria Boikanyo a few questions as part of its IT Leadership Series.
2023-04-18 07:04 +02:00
Private investments in energy generation will take two to three years before they solve the load shedding problem, Nedbank CEO Mike Brown said.
2023-04-13 16:39 +02:00
Convergence Partners-backed Comsol Networks is using its access to prime radio frequency spectrum bands to build private 5G networks for enterprise customers.
2023-03-07 15:53 +02:00
High hopes that government will soon lay out plans to take on a majority of Eskom’s debt have lifted the company’s bonds.
2023-01-26 11:46 +02:00
Ayo Technology Solutions has severely criticised the JSE after the bourse on Thursday publicly censured the company.
2022-12-23 10:08 +02:00
The JSE has fined Ayo Technology Solutions and publicly censured the company over further breaches of the listings requirements.
2022-12-22 10:50 +02:00
Former Altron Group CEO Mteto Nyati has acquired a 40% stake in business technology consulting firm BSG and will become executive chairman.
2022-11-15 21:12 +02:00
Leading directors at Huge Group, including its chairman, Duarte da Silva, have resigned amid an apparent boardroom fracas.
2022-10-21 19:20 +02:00
The former Altron CEO will join the bank’s board and will advise the company on IT strategy as a member of the group IT committee.
2022-09-19 14:09 +02:00
Big changes are coming to the payments industry in South Africa early next year. BankservAfrica CEO unpacks all the details in this episode of TC|Daily.
2022-09-19 11:19 +02:00JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:MPT JSE:SFN JSE:HUG JSE:ISA
Nedbank Group wants to almost double its lending to green energy projects in South Africa over the next two years.
2022-08-01 13:57 +02:00
Mteto Nyati, a former CEO of MTN South Africa and until recently group CEO of Altron, has joined the board of Telkom.
2022-07-15 07:54 +02:00
Vodacom is now offering consumers access to unsecured personal loans through its VodaPay “super app” as it deepens its push into fintech.
2022-05-12 14:33 +02:00
The South African Reserve Bank has taken a step closer to creating a national digital currency. This is after it took the wraps last week off the second phase of Project Khokha.
2022-04-11 15:17 +02:00
More engagement with the fintech industry is needed before distributed ledger technology can be incorporated into South Africa’s financial markets, according to a new report.
2022-04-06 14:01 +02:00
MTN Group is working with advisers at JPMorgan on the planned separation of its financial technology business, people with knowledge of the matter said.
2022-04-05 14:58 +02:00
Investec recently launched Programmable Banking, a platform for software developers that aims to open the world of banking to the IT industry with more granularity.
2022-03-23 10:54 +02:00
Blue Label Telecoms has said that the long-awaited recapitalisation of debt-laden mobile operator Cell C will be completed by no later than May this year.
2022-02-23 20:08 +02:00
Big changes are coming to South Africa’s payments industry that will shake up the financial services sector, according to BankservAfrica CEO Jan Pilbauer.
2022-02-18 15:29 +02:00JSE:FSR JSE:MTN JSE:SBK JSE:ABG JSE:NED JSE:BVT JSE:INP JSE:INL JSE:AVI JSE:SFN JSE:ISA
Nedbank will on 15 March withdraw banking services provided to AEEI, the investment company controlled by controversial businessman Iqbal Survé.
2022-02-16 11:34 +02:00
The news earlier this week that Apple plans to allow merchants to accept contactless payments directly on iPhones has stirred a great a deal of interest.
2022-02-10 15:13 +02:00
Since much of Africa’s population has limited access to financial services, the continent is one of the world’s most attractive banking opportunities as incomes rise.
2021-12-09 17:00 +02:00
MTN South Africa said on Monday that users of its MoMo mobile money platform can now “cash out”, or withdraw funds, at Nedbank-owned ATMs.
2021-11-22 11:32 +02:00
First National Bank has finally launched supported for Apple Pay in South Africa, the financial services institution said on Tuesday.
2021-08-03 10:07 +02:00
It is not yet clear just how extensive the destruction of particularly retail and warehouse property and the looting of stock in the unrest in KwaZulu-Natal and Gauteng was.
2021-07-19 06:08 +02:00JSE:SHP JSE:NED JSE:PPH JSE:CLS JSE:INP JSE:WHL JSE:MRP JSE:SPP JSE:INL JSE:TBS JSE:IPF JSE:MSM JSE:CSB JSE:FBR JSE:MPT JSE:LEW JSE:MST
South African taxi drivers, private security companies and ordinary civilians are stepping up to protect their businesses and communities following days of rioting and looting.
2021-07-14 11:05 +02:00
Nedbank plans to shift to a “hybrid workforce model” with a significant percentage of the bank’s employees not working in the group’s offices daily.
2021-07-08 07:20 +02:00
The rand extended its gains to a new 27-month best, still supported by global risk demand as investors raised bets the US central bank would lend at low rates for longer.
2021-05-27 05:07 +02:00
The Ombudsman for Banking Services’ annual report reveals that it opened 7 717 formal cases in 2020 – a new record. That’s a 19% increase on the prior year, despite the Covid-19 lockdown.
2021-05-13 06:56 +02:00
Nedbank, working with Mastercard and South African fintech player Ukheshe, has launched the ability for banking clients to make payments to businesses in messaging platform WhatsApp.
2021-04-21 08:56 +02:00
Apple Pay has finally been launched in South Africa. Customers from Nedbank, Absa and Discovery Bank were on Tuesday morning able to load their bank cards into their Apple wallets.
2021-03-30 10:22 +02:00
National treasury is considering whether it would be better to move a chunk of Eskom’s R464-billion of debt into a special-purpose vehicle or have the state take over responsibility for it directly.
2021-03-24 05:53 +02:00
Eskom bondholders are watching the latest round of rescue talks from a distance. Yields suggest they’re confident their money is safe, whether or not the discussions result in a sustainable solution for the utility’s debt.
2021-03-01 06:40 +02:00
South African retail sales fell more than expected in November, despite deeper Black Friday discounts and month-long promotions, pointing to lingering weakness in the economy
2021-01-21 14:28 +02:00
Barry Hore, the technologist who has led Discovery Bank since its inception, is stepping down. Long-serving Discovery executive Hylton Kallner will replace him on 1 January.
2020-12-10 07:48 +02:00
Telkom has launched a digital wallet that allows users to pay others and get paid themselves using their mobile phone and WhatsApp.
2020-12-02 10:38 +02:00
Although reports have emerged of quieter-than-normal retail stores this Black Friday weekend, it seems many South African consumers turned to online shopping to beat the crowds – and the coronavirus.
2020-11-30 15:50 +02:00
Bank Zero has announced its account pricing as it edges closer to launch. The digital-only bank says “basic banking should be free and extras should be paid for – not the other way round”.
2020-10-28 06:55 +02:00JSE:SBK JSE:ABG JSE:NED JSE:CLS JSE:OMU JSE:AVI JSE:ARH JSE:ISA
As of 1 January 2021, Nedbank clients will no longer be able to use cheques as a payment option. In an announcement on Tuesday, the bank said this is because few clients make use of the service.
2020-09-22 14:18 +02:00
South African businesses have had to respond to the coronavirus and lockdown restrictions since March. At the same time, the country’s economy is in crisis. Here’s how companies are coping.
2020-09-18 07:20 +02:00JSE:AGL JSE:AMS JSE:FSR JSE:MTN JSE:SBK JSE:VOD JSE:IMP JSE:SSW JSE:ABG JSE:SHP JSE:NED JSE:PPH JSE:AVI JSE:SPG JSE:MSM JSE:SUI
Vodacom Group has a new chief financial officer. Raisibe Morathi will take on the role from 1 November, when she will also be appointed to the board as an executive director.
2020-08-25 07:15 +02:00
Credit bureau Experian said on Thursday that no consumer credit information or financial information was obtained by a suspected fraudster and that the incident has been “contained”.
2020-08-20 16:29 +02:00
The lead independent non-executive director of EOH Holdings has resigned from the board a year after being appointed and five months after taking the lead directorship role.
2020-07-28 15:48 +02:00
André de Ruyter, the CEO of South Africa’s debt-stricken state power utility, is navigating a political minefield as he collects overdue debt, reduces electricity theft and bolsters revenue.
2020-07-28 15:21 +02:00
Nedbank now allows merchants to accept payments directly on their phones using tap-to-pay technology. It allows business owners to convert their mobile phones into payment acceptance devices.
2020-06-30 08:33 +02:00
Life Healthcare said on Tuesday that its Southern African operation was hit by a cyberattack affecting its admissions systems, business processing systems and e-mail servers.
2020-06-09 07:36 +02:00
South African banks face the steepest earnings slump in half a century – with some posting losses – as measures to curb the coronavirus drag the economy deeper into recession.
2020-06-08 08:47 +02:00
Nedbank has unveiled Avo, a digital platform that provides users of its smartphone banking app with access to a range of online products and services from merchants.
2020-05-19 09:27 +02:00
The Shoprite Group, which owns Shoprite and Checkers retail stores, is introducing the ability for customers to make payments using QR codes in an effort to fight the spread of the novel coronavirus.
2020-04-08 17:32 +02:00
The South African government is adequately prepared to contain the spread of the coronavirus, with only a single case confirmed so far, health minister Zweli Mkhize said.
2020-03-07 06:02 +02:00
The Competition Commission has approved JSE-listed technology group Altron’s acquisition of identity management security specialist Ubusha Technologies.
2020-03-04 07:47 +02:00JSE:SBK JSE:VOD JSE:ABG JSE:NED JSE:INP JSE:INL JSE:TKG JSE:JSE JSE:MSM JSE:ISA
Though there is “significant doubt” over Cell C’s ability to continue as a going concern, the mobile operator’s biggest shareholder, Blue Label Telecoms, said on Friday that “management believes it is more likely than not” that the company will survive.
2020-02-28 19:23 +02:00
Nedbank said on Thursday that a security breach at a third-party supplier has compromised the details of as many as 1.7 million of its clients.
2020-02-13 09:37 +02:00
It’s not all doom and gloom at Cell C, apparently. The debt-laden mobile operator has managed to scrounge up the cash to renew its sponsorship of Sharks Rugby.
2020-01-29 18:55 +02:00
Cell C has defaulted on the payment of interest on a $184-million loan, which was due in December 2019, along with interest and capital repayments related to bilateral loan facilities with various lenders.
2020-01-28 18:00 +02:00
Nedbank, Vodacom and now retail giant Pick n Pay are among the growing list of South African companies to back the locally made Mara phone.
2019-12-18 07:31 +02:00
JSE-listed technology group Altron said on Monday that it had acquired Ubusha Technologies, an identity management security company, for R360-million.
2019-12-09 07:55 +02:00JSE:SBK JSE:VOD JSE:ABG JSE:NED JSE:INP JSE:INL JSE:TKG JSE:JSE JSE:MSM JSE:ISA
After months of speculation and delays, South Africa named André de Ruyter as CEO of its debt-crippled state power utility, surprising investors with an unexpected choice and angering a key union.
2019-11-19 05:31 +02:00
Andre de Ruyter has been appointed as CEO of Eskom, the debt-strapped utility that provides about 95% of the nation’s electricity and poses the biggest threat to its economy.
2019-11-18 16:09 +02:00
Nedbank has launched a “lite” version of its smartphone banking application. Called Money App Lite, it’s a streamlined version for Android devices.
2019-11-06 14:40 +02:00
Government has spent months mostly talking about how to save the debt-stricken state power utility Eskom, spur economic growth and get its shaky finances back on track. Financial realities may force an end to the dithering.
2019-10-07 09:38 +02:00
Africa’s tallest building is set to open next month as its developers seek to cash in on security fears and traffic jams by building a high-rise residential and retail complex in the heart of Johannesburg’s financial district.
2019-09-20 08:12 +02:00
South Africa`s rand firmed on Thursday, recouping losses from the previous session, with investor focus turning to the mid-term budget next week.
2023-10-26JOHANNESBURG (Reuters) -South Africa`s Nedbank Group, amongst the top five lenders in the country, warned on Tuesday that its bad loans would stay elevated for the rest of the year and it could miss its 2025 financial targets.
2023-08-08
South Africa`s Nedbank Group, amongst the top five lenders in the country, warned on Tuesday that its bad loans would stay elevated for the rest of the year and it could miss its 2025 financial targets.
2023-08-08
South African bank Absa said on Friday its loan losses were expected to have risen above its target range in the first half of this year as consumers felt the burden of higher interest rates.
2023-07-14South Africa`s Standard Bank Group funded renewable energy projects worth 55 billion rand ($2.79 billion) in 2022, exceeding its green financing target and putting it ahead of the world`s top lenders, it said on Tuesday.
2023-05-30(Reuters) -Gold miner AngloGold Ashanti will move its primary listing to New York from Johannesburg in a bid to access a deeper pool of investors and reduce risks associated with South Africa, it said on Friday.
2023-05-12
South African lender Absa Group aims to cut its net carbon emissions to zero by 2050 by curtailing lending to coal, oil and gas projects as well as increasing its exposure to renewables, it said on Friday.
2023-03-24
South African lender Nedbank on Tuesday warned that consumers in Africa`s most industrialised nation were coming under pressure as higher interest rates and inflation are intensified by local economic conditions.
2023-03-07JOHANNESBURG (Reuters) -South African state power utility`s chief executive André de Ruyter has resigned, the country`s government-owned public broadcaster SABC, local news outlet News24 and a source at the company said on Wednesday.
2022-12-14JOHANNESBURG (Reuters) -The board of South Africa`s Gold Fields will not change its offer for Yamana Gold after a surprise rival bid from Agnico Eagle and Pan American, it said on Monday.
2022-11-07
South Africa`s cabinet on Friday approved a new board of directors at struggling state-owned power utility Eskom, after electricity outages reached record levels this year.
2022-09-30
Thanks to his rooftop solar panels, Pierre Moureau only notices the blackouts that regularly plunge South Africans into darkness when complaints pop up on his Johannesburg neighbourhood`s WhatsApp group.
2022-08-15The South African Reserve Bank will raise its benchmark interest rate by 50 basis points to 5.25% next Thursday as it tries to rein in quicker inflation, a Reuters poll found.
2022-07-14
* reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=ZAGDPQP GDP forecasts
2022-07-14
Shares in South Africa`s Nedbank rose 3.3% on Wednesday after saying it would meet a 2023 profit target a year ahead of schedule and reporting a 114% rise in 2021 earnings.
2022-03-09
South Africa`s economy is set to grow by just 2% in 2022, less than half the pace seen this year, as consumers rein in spending and electricity constraints dampen exports, a Reuters poll showed on Friday.
2021-12-10
South African banks say they have to keep funding at least some coal projects for now because an immediate halt would put huge political and economic strains on a nation that relies on the most polluting of fossil fuels.
2021-10-15South Africa`s Mediclinic has refinanced 8.45 billion rand ($575.26 million) in loans through Rand Merchant Bank, the hospital operator said on Tuesday, in what the bank described as Africa`s first sustainability-linked banking facility.
2021-09-21
South African stocks fell on Thursday, led by mining companies as gold fell to test the pivotal $1,800 support level after hawkish comments from a key Federal Reserve official raised early tapering bets.
2021-08-05Sun International has agreed easier borrowing terms with its lenders, two sources told Reuters, giving South Africa`s biggest casino firm a year of financial breathing space as a third wave of COVID-19 crashes over the tourism industry.
2021-07-09
South African hospitality, grocery retail and gym stocks sank on Monday alongside the rand currency after the government tightened COVID-19 restrictions to cope with new coronavirus infections.
2021-06-28JSE:SHP JSE:NED JSE:WHL JSE:SPP JSE:AVI JSE:TSG JSE:MSM JSE:SUI JSE:BAT
South Africa`s rand was flat on Thursday, with investors weighing conflicting signals from the U.S. Federal Reserve that pushed the dollar away from two-month highs.
2021-06-24South African insurer Old Mutual said on Wednesday it would distribute $734 million in shares in lender Nedbank among its shareholders, reducing its stake in the bank to 7.2% from 19.4%.
2021-06-23
South Africa`s monthly manufacturing output contracted in April and mining production slowed, as electricity outages hit the strong recovery in economic activity seen earlier in the year.
2021-06-10
South Africa`s rand inched weaker on Friday, remaining on the back foot against a recovering dollar after upbeat U.S. weekly jobs data brought back bets of high lending rates by the Federal Reserve.
2021-06-04JOHANNESBURG (Reuters) -South Africa`s rand firmed on Friday as global risk demand was aided by signs the United States central bank would keep lending rates low despite rising inflation.
2021-05-14JOHANNESBURG (Reuters) -South Africa`s rand firmed on Thursday, recovering alongside other emerging market currencies following the surprise inflation increase in the United States, as investors saw smaller chances of higher lending rates by the Federal Reserve.
2021-05-13
South Africa`s Reserve Bank will keep its repo rate unchanged next week as inflation remains within the bank`s comfort range despite showing signs of quickening in recent months, a Reuters poll found on Thursday.
2021-05-13
* Lender to halt direct funding of new oil and gas exploration
2021-04-22South Africa`s rand firmed in early trade on Thursday, as investors awaited the outcome of a central bank monetary policy meeting later in the day, where the regulator is expected to leave its benchmark lending rate unchanged.
2021-03-25
South Africa`s Nedbank on Wednesday refrained from paying a dividend as its annual profit plunged 56.8%, after the COVID-19 crisis drove up credit impairments and lower interest rates hit revenue.
2021-03-17South Africa`s rand fell slightly in early trade on Monday, as the dollar hovered near three-month highs after the U.S. Senate cleared a bumper stimulus bill, sparking a sell-off in the global bond market.
2021-03-08South Africa`s Treasury presented its 2021 budget to parliament on Wednesday.
2021-02-24At least two of South Africa`s major banks are likely to declare dividends after the central bank last week eased guidance on payouts, analysts and investors said.
2021-02-23JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:INP JSE:INL JSE:AVI JSE:ARH
South Africa`s consolidated fiscal deficit is expected to narrow this year because of an economic rebound, although the long-term trend of higher debt remains unchanged due to COVID-19 and pre-existing spending, a Reuters poll forecast on Friday.
2021-02-19South Africa`s rand weakened early on Wednesday after a sharp fall in the previous session as global risk demand retreated and some investors took profits on the local currency`s recent rally.
2021-02-17
Easing bond yields, which have lowered the South Africa`s long term borrowing costs, coupled with improved tax revenues, may see the country avoid issuing a Eurobond this year.
2021-02-12
South Africa`s Nedbank denied any wrongdoing on Monday after three local news sites reported on its links to a scandal that led to large losses at public entities, sending the bank`s shares down almost 9%.
2021-02-08South Africa`s rand firmed early on Monday as hopes that a massive economic stimulus in the United States would be passed provided some support to markets, with traders expecting the currency to remain vulnerable to global risk-taking mood.
2021-01-25South African retail sales fell more than expected in November, despite deeper Black Friday discounts and month-long promotions, as sales of other items like jewellery and clothes contracted.
2021-01-21
* Swings to basic loss per share, warns of full-year profit hit
2020-09-01
* Scraps dividend, says balance sheet strong (Adds details, shares)
2020-08-20
South Africa`s state-controlled airports company ACSA has signed a new 3 billion rand ($174 million) loan with domestic banks and shelved major projects to shore up its finances in the coronavirus crisis, its finance chief said on Thursday.
2020-08-20
South Africa`s rand weakened slightly early on Thursday, pausing an advance in the previous session that saw the currency trade at its firmest in three days, with investors cautiously watching developments in the global economy.
2020-08-13South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.
2020-08-07
Growth in South Africa`s consumer prices fell to its lowest in more than 15 years as the cost of fuel declined and spending slowed amid the coronavirus lockdown.
2020-07-15
South African banks are looking at options ranging from debt consolidation to new ways of leveraging equity to avoid defaults when coronavirus-related debt relief measures end, industry officials said.
2020-07-10
Struggling petrochemicals producer Sasol has appointed advisers to sell its stakes in a power plant in Mozambique and a gas pipeline running from the country into South Africa, two sources familiar with the matter told Reuters.
2020-06-26South African banks and the government are looking for ways to boost take up of an up to 200 billion rand ($11.58 billion) loan scheme to help coronavirus-hit businesses, two bank executives and a source close to the discussions told Reuters.
2020-06-15
South Africa`s Life Healthcare said on Tuesday its southern African operation was hit by a cyber attack affecting its admissions systems, business processing systems and email servers, but is yet to determine the extent to which data has been compromised.
2020-06-09
South Africa`s rand jumped more than 1% to a 2-1/2 month high on Tuesday in an emerging market rally spurred by growing hopes for a global economic recovery, prompting investors to ditch safe-havens for high yielding assets.
2020-06-02
South Africa`s competition watchdog has expanded its long-running rate-rigging case to target other lenders, including some of the country`s biggest banks, it said on Tuesday.
2020-06-02
South Africa`s competition watchdog said on Tuesday it had expanded its long-running rate-rigging case to target other additional lenders, including some of the country`s biggest banks.
2020-06-02
South Africa`s rand edged weaker on Wednesday as optimism over the 500 billion rand ($26.41 billion) rescue package announced by President Cyril Ramaphosa on Tuesday gave way to concerns about economic growth.
2020-04-22
South Africa`s Nedbank Ltd has withdrawn guidance for its key financial numbers for 2020, blaming the economic disruption caused by the coronavirus pandemic.
2020-04-14South Africa`s Sunshine Tour has created a fund for players and caddies to provide financial assistance for the next two months, but commissioner Selwyn Nathan said the financial impact of the coronavirus pandemic could take the game back 20 years.
2020-04-07
South African bank stocks recovered to make gains on Tuesday after the central bank signalled that its advice not to pay dividends did not include 2019`s and that the National Treasury was considering a scheme to encourage lending.
2020-04-07JSE:FSR JSE:SBK JSE:ABG JSE:NED JSE:INP JSE:INL JSE:AVI JSE:ARH
Standard Bank on Tuesday withdrew its financial guidance citing uncertainty caused by the coronavirus which has forced South Africa into a 21-day lockdown expected to take a toll on an already sputtering economy.
2020-03-31
South Africa`s biggest retail banks say that around 15-20% of their lending books do not definitely qualify for coronavirus relief measures announced by the banks last week, though more could be done if the government were to provide fiscal support.
2020-03-30
South Africa`s rand weakened on Wednesday as another bout of risk aversion dragged emerging market currencies lower, with investors fretting over the impact of the coronavirus and opting for safe-haven assets.
2020-03-11
South Africa`s rand weakened early on Wednesday as another bout of risk aversion dragged emerging market currencies lower, with investors fretting over the economic impact of the coronavirus and opting to move money to safe-haven assets.
2020-03-11
South Africa`s rand weakened on Tuesday as data showed the economy entered its second recession in two years in the final quarter of last year, while stocks edged higher.
2020-03-03
South Africa`s central bank has started the process to appoint an advisor to manage the sale of its 50% holding in small lender African Bank, the company said on Friday, around six years after injecting 5 billion rand to rescue it.
2020-02-14
South Africa`s economy shrank for second time in three quarters this year, data showed on Tuesday, as productive sectors fell across the board and companies slashed inventories, amplifying the chances of ratings downgrades to junk.
2019-12-03
South Africa`s struggle to safeguard its last investment grade credit rating has failed to convince the most credit-sensitive global investors and many active fund managers have already voted with their feet.
2019-11-22
South Africa`s Nedbank could pay off mortgages or fund holidays for a small number of customers that exhibit good financial behaviour under its revamped rewards programme, its head of loyalty and rewards Dharmesh Bhana told Reuters.
2019-11-14Solani Rivele, a single mother of four, earns about 800 rand ($55) a week but owes 100 times that amount in loans. Millions of South Africans like her rely on credit to feed their families.
2019-11-04
South Africa`s government was bracing for an unfavourable review of the country`s final investment grade credit rating on Friday, bringing an exodus of foreign money from an already debt-riddled economy a step closer.
2019-10-31
The South African government said on Tuesday it raised $5 billion from the sale of two new bonds in international markets, as strong demand from investors helped it raise 25% more than it had originally planned.
2019-09-24
* Old Mutual to do another share buyback, CFO says more possible
2019-09-02
Former Nedbank chairman Reuel Khoza has been appointed to head South Africa`s 2 trillion rand ($141 billion) Public Investment Corporation (PIC) in an effort to restore the scandal-plagued pension fund`s reputation.
2019-07-25South Africa`s biggest banks are betting cut-price accounts, big mortgages and offers on everything from Adidas backpacks to Xboxes will help them win over the youth market, which many overlooked until it was targeted by a host of start-up rivals.
2019-07-15
A severe shortage of computer skills in South Africa has left its major banks fighting over a limited pool of people with the skills they need to upgrade technology platforms and keep pace with changing customer demands and competition from new rivals.
2019-06-14
South Africa`s manufacturing grew much more than expected in April as production of cars, electronics, metal products and furniture jumped, providing the first glimmer of hope for an economy mired in contraction and policy uncertainty.
2019-06-11
South Africans were offered low-fee, digital accounts by two "traditional" banks this week in a sign of how competition from a new breed of cheaper, online-only rivals is driving change in the $30 billion market.
2019-05-21South Africa`s Reserve Bank will leave interest rates unchanged next week as it manages a tight balancing act between inflation threatening to quicken later this year and a weak growth outlook, a Reuters poll found on Friday.
2019-05-17
South Africa`s rand strengthened more than 1% on Friday on expectations of political continuity, as the governing African National Congress (ANC) headed for a national election victory.
2019-05-10
South African Health and wellness group Ascendis Health said on Thursday it will sell three businesses within its Biosciences division to a consortium for 480 million rand ($33 million) as part of a strategic review.
2019-05-02
Banking group Sasfin and money transfer service Hello Paisa will launch a bank in South Africa this year, hoping to bring thousands of people into the financial system for the first time, the firms said on Wednesday.
2019-03-06
South African services firm Bosasa, which is known as African Global Operations, said on Monday it had applied for voluntary liquidation after its banks told it they would close its accounts by the end of the month, citing reputational risk.
2019-02-18
