JOHANNESBURG, Aug 4 (Reuters) – Absa Group (ASAJ.J: Quote, Profile, Research, Stock Buzz), the
South African bank majority owned by Britain’s Barclays
(BARC.L: Quote, Profile, Research, Stock Buzz), reported flat first-half earnings on Wednesday, hit by
slack demand for loans and said its outlook remained tough.

South Africa’s largest retail bank released its first-half
results a day earlier than scheduled, after details of its
earnings were published in a local magazine. The Johannesburg
Stock Exchange JSEJ. temporarily suspended trade of the stock.

JOHANNESBURG, Aug 2 (Reuters) – South Africa’s Nedbank
(NEDJ.J: Quote, Profile, Research) posted flat first-half earnings on Monday and said it
would struggle to meet medium-term forecasts, the latest big
lender to be stung by a slow recovery in Africa’s top economy.

South African banks have struggled to post convincing growth
even after the country exited a recession last year, as demand
for loans is still weak and bad debts remain high.

JOHANNESBURG, July 30 (Reuters) – Investec’s (INLJ.J: Quote, Profile, Research, Stock Buzz) UK
business helped fuel an 11 percent rise in first-quarter
operating income, confirming the South African banking group’s
push into asset management was paying off.

South Africa’s fifth-largest bank, which is also listed in
London (INVP.L: Quote, Profile, Research, Stock Buzz), said in a trading statement on Friday it was
bolstered by “particularly strong” results at its British asset
management and capital markets divisions.

JOHANNESBURG, July 29 (Reuters) – Absa Group Ltd (ASAJ.J: Quote, Profile, Research),
the South African bank majority owned by Britain’s Barclays
(BARC.L: Quote, Profile, Research), said it expects first-half profit to fall by as much
as 5 percent, hit by slack demand for loans.

The statement, which came after the market close on
Thursday, could sour investor optimism about banks in Africa’s
biggest economy, which begin reporting earnings next week.

JOHANNESBURG, July 22 (Reuters) – South African mobile-phone
operator Vodacom (VODJ.J: Quote, Profile, Research, Stock Buzz) reported flat first-quarter revenue on
Thursday, as a decline in customers was offset by growth in data
traffic.

Vodacom, which is majority owned by Britain’s Vodafone
(VOD.L: Quote, Profile, Research, Stock Buzz), faces stiff competition as global firms increasingly
target Africa’s fast-growing mobile market.

JOHANNESBURG, July 15 (Reuters) – South Africa’s MTN Group
(MTNJ.J: Quote, Profile, Research) said it aims to pay higher dividends to shareholders, a
sign it may be moving away from a model of acquisition-based
growth as Africa’s mobile phone market matures.

MTN, Africa’s largest mobile phone operator, said in a
statement on Thursday there were fewer acquisition opportunities
left in emerging market telecoms and it would consider options
to return more cash to shareholders.

JOHANNESBURG, July 13 (Reuters) – South Africa’s Telkom
(TKGJ.J: Quote, Profile, Research) said its chief financial officer would resign in
October, increasing concern about the troubled fixed-line
operator’s future and sending its shares tumbling more than 3
percent.

Telkom, whose chief executive, Ruben September, stepped down
earlier than planned last week, is struggling to craft a
convincing turnaround strategy, hit by higher costs and tough
competition at home, and hefty losses from its Nigerian business.

JOHANNESBURG/LONDON (Reuters) – HSBC Holdings (HSBA.L: Quote, Profile, Research) may bid for South Africa’s Nedbank (NEDJ.J: Quote, Profile, Research), Sky News reported, a potential $4.4 billion deal that would give Europe’s largest bank a bigger profile in fast-growing Africa.

Buying a majority stake of South Africa’s fourth-largest bank would bulk up HSBC’s presence in Africa’s top economy and give it a wider platform for expansion on the growing continent.

JOHANNESBURG/LONDON, July 8 (Reuters) – HSBC Holdings
(HSBA.L: Quote, Profile, Research) may bid for South Africa’s Nedbank (NEDJ.J: Quote, Profile, Research), Sky News
reported, a potential $4.4 billion deal that would give Europe’s
largest bank a bigger profile in fast-growing Africa.

Buying a majority stake of South Africa’s fourth-largest
bank would bulk up HSBC’s presence in Africa’s top economy and
give it a wider platform for expansion on the growing continent.

JOHANNESBURG, July 1 (Reuters) – South African retailer
Pick’n Pay (PIKJ.J: Quote, Profile, Research) said it will sell its underperforming
Australian supermarket chain for about $183 million, sending its
shares up more than 3 percent.

Pick’n Pay said on Thursday it will sell its Franklins chain
of supermarkets to unlisted Metcash Trading for around 1.4
billion rand ($183 million).