South African fashion retailer TFG plans to close 180 more stores over three years as online sales accelerate and its portfolio restructuring continues.
Southern Africa
Woolworths Holdings reports a 5.3% rise in annual headline earnings, supported by stronger food sales, higher turnover and improved profit before tax.
Shoprite Holdings reports a 12.2% rise in annual headline earnings as grocery sales grow in South Africa and across the rest of its African operations.
Mozambique appoints Waldemar Fernando de Sousa as central bank governor and Felisberto Dinis Navalha as deputy governor ahead of their Maputo swearing-in.
Eskom more than doubles annual profit to R30.3 billion, but falling electricity sales and rising municipal debt threaten the utility’s financial recovery.
Eskom CFO Calib Cassim will retire during the 2027 financial year as the utility begins a succession process following its return to profitability.
South Africa’s wheat harvest faces pressure as severe rainfall shortages in Swartland cut crop potential and deepen concerns over food security and imports.
South Africa's rand edged higher as investors awaited Kevin Warsh's Jackson Hole speech and July budget data for fresh policy and fiscal signals.
South Africa's rand held steady near 15.95 per dollar as investors awaited July producer inflation data and signals from the Jackson Hole symposium.
South Africa’s rand holds near 16.02 per dollar as investors await the June leading business cycle indicator and later producer inflation and budget data.