South Africa

South African Sugar-Maker Tongaat Eyes Angola For Growth

Tongaat Hulett aims to expand its business in Angola and other African nations that rely on sugar imports, in line with a strategy to bulk up in the centra...

Beer-Maker AB InBev Pumps Up The Volume In Africa

Sitting outside the ramshackle Vimba Tavern in Johannesburg's Alexandra township, Patrick Mashego swigs from a one-litre bottle of Carling Black Label, Sou...

Steinhoff Posts H1 Loss As Restructuring Wipes Out Sales Gain

South African retailer Steinhoff, which has been embroiled in an accounting scandal, expects to report a first-half net loss as costs related to restructur...

South Africa's Astral Foods H1 Profit Jumps More Than Five-Fold

South Africa's Astral Foods Ltd said on Monday its profit surged more than five-fold for the first half ended March, helped by higher sales and prices in i...

Steinhoff Subsidiary Scraps Preference Share Dividend

A Steinhoff International subsidiary said on Monday it would not issue a dividend on its preference shares due to the crisis at the South African multinati...

AB-InBev To Expand in Tanzania With New $100 Million Brewery

Anheuser-Busch InBev NV agreed to build a $100 million brewery in Tanzania as the world’s biggest beermaker steps up investment on the continent to m...

South Africa’s Shoprite Sees Turnover Rise 6.3% In H1

South Africa-based Shoprite Holdings has posted a 6.3% increase in turnover in the first half of its financial year, reporting R75.8 billion worth of sales...

South Africa's Wiese Cuts Stake In Retailer Steinhoff To 6%

Christo Wiese, the former chairman of Steinhoff International Holdings NV, has slashed his stake in the retailer to 6.2 percent, a move that may mean one o...