JOHANNESBURG, Sept 29 (Reuters) – Shares of South Africa’s
Telkom tumbled to their lowest in 2-1/2 years on
Thursday after the struggling fixed-line operator warned of a
steep drop in profit, hit by a $57 million write-down of its
Africa IT business.

Telkom has been plagued by problems at its units beyond
South Africa. In June it agreed to sell its troubled Nigerian
unit for $10 million, a fraction of what it originally paid.

JOHANNESBURG, Aug 16 (Reuters) – MTN Group ,
Africa’s largest mobile operator, is set to deliver muted growth
when it reports first-half earnings on Wednesday, knocked by
currency swings and a slowdown in its once-rapid expansion.

Investors will eye the dividend from the Johannesburg-based
company, which last year said it would focus on paying more to
shareholders as it saw fewer opportunities for expansion in
emerging markets.

HONG KONG/JOHANNESBURG, Aug 5 (Reuters) – Industrial and
Commercial Bank of China is to pay $600 million to
take control of the Argentina operations of South Africa’s
Standard Bank , it said on Friday, becoming the first
Chinese lender to enter Latin America’s third-largest economy.

ICBC, the world’s biggest bank by market value, will take 80
percent of commercial lender Standard Bank Argentina and its two
affiliates, asset manager Standard Investments and Inversora
Diagnol, a commercial service provider.

JOHANNESBURG, Aug 4 (Reuters) – BNP Paribas will
pay $22 million for 60 percent of the stock broking arm of South
African financial services firm Cadiz Holdings , as
France’s biggest bank looks to expand its reach on the
fast-growing continent.

The 150 million rand deal ($22 million) gives BNP Paribas a
foothold in Africa’s biggest economy at a time when more
institutional investors are targeting African equities.

JOHANNESBURG/HONG KONG (Reuters) – HSBC is in talks to buy up to 70 percent of South Africa’s Nedbank, in a potential $6.8 billion deal that would give Europe’s biggest lender a broader gateway to the fast-growing African continent.

HSBC and Anglo-South African insurer Old Mutual, which owns a controlling stake in Nedbank, said in separate statements on Monday they were in exclusive talks about the deal.

JOHANNESBURG/HONG KONG (Reuters) – HSBC will buy up to 70 percent of South Africa’s Nedbank, in a potential $6.8 billion (4.3 billion pounds) deal that would give Europe’s largest lender a bigger presence in Africa’s top economy and a gateway to the fast-growing continent.

HSBC and Anglo-South African insurer Old Mutual, which owns a controlling stake in Nedbank, said in separate statements on Monday they were in exclusive talks about the deal.

JOHANNESBURG/HONG KONG, Aug 23 (Reuters) – HSBC will buy up
to 70 percent of South Africa’s Nedbank (NEDJ.J: Quote, Profile, Research, Stock Buzz), in a potential
$6.8 billion deal that would give Europe’s largest lender a
bigger presence in Africa’s top economy and a gateway to the
fast-growing continent.

HSBC (0005.HK: Quote, Profile, Research, Stock Buzz) (HSBA.L: Quote, Profile, Research, Stock Buzz) and Anglo-South African insurer Old
Mutual (OML.L: Quote, Profile, Research, Stock Buzz) (OMLJ.J: Quote, Profile, Research, Stock Buzz), which owns a controlling stake in
Nedbank, said in separate statements on Monday they were in
exclusive talks about the deal.

JOHANNESBURG, Aug 17 (Reuters) – South African stock
exchange operator JSE Ltd (JSEJ.J: Quote, Profile, Research, Stock Buzz) reported an 8 percent gain in
first-half profit on Tuesday, helped by market volatility, but
said the uncertain outlook may limit new listings this year.

The JSE, which runs the Johannesburg Stock Exchange, is keen
to win more overseas investors by welcoming high-frequency
traders and marketing itself as a gateway to Africa’s
fast-growing capital markets.

JOHANNESBURG, Aug 12 (Reuters) – Standard Bank (SBKJ.J: Quote, Profile, Research, Stock Buzz),
Africa’s biggest lender by assets, reported a 9 percent rise in
first-half profit on Thursday but said it expects little growth
this year as the weak economy continues to blunt demand for
loans.

Banks in Africa’s biggest economy have reported slight
earnings improvements after being whiplashed by bad debts last
year. Analysts say it is too soon to declare a full recovery,
given weak demand for loans and other banking services.

JOHANNESBURG, Aug 6 (Reuters) – As many as 31,000 South
African autoworkers seeking a 15 percent wage increase and
better conditions plan to go on strike next week, potentially
dealing a blow to auto production in Africa’s largest economy.

The powerful National Union of Metalworkers of South Africa
(NUMSA) said in a statement on Friday that workers could down
tools from next Wednesday after talks broke down with a group
representing auto manufacturers.