South Africa

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...

Steinhoff Gets Bank Support As Retailer Strives For Recovery

Steinhoff International Holdings NV will meet immediate interest payments and said it has won the support of South African lenders as the global retailer m...

Shoprite Opens 14 New Stores In South Africa

African retail group Shoprite has announced the opening of fourteen new stores across six different provinces in South Africa. The new stores are positi...