JOHANNESBURG/TOKYO, Feb 19 (Reuters) – Japan’s Mizuho
Financial Group will sign an agreement to cooperate
with South Africa’s Standard Bank in corporate lending
as early as this week, according to two people familiar with the
The non-exclusive agreement will focus on bringing more of
Mizuho’s Japanese clients to Africa and Standard Bank’s clients
to Japan, said one of the people, both of whom declined to be
identified because the information is not public.
JOHANNESBURG, Feb 3 (Reuters) – South Africa denied on
Friday it had been pressured by MTN Group into backing
Tehran’s nuclear programme and aiding its military when the
Johannesburg-based mobile operator was bidding for a telephone
licence in Iran.
“South Africa’s foreign policy is independent and it cannot
be influenced by anyone,” Foreign Ministry spokesman Clayson
JOHANNESBURG, Feb 2 (Reuters) – MTN Group,
Africa’s largest telecom group, said it faces a potential
lawsuit from rival Turkcell that it asked South
Africa to back Iran’s nuclear development in return for a
cellular licence in the country.
Johannesburg-based MTN said in a statement the Turkish
mobile operator, which unsuccessfully bid for the same licence,
will also claim that MTN asked South Africa to aid Iran’s
military and that it bribed officials of both governments.
JOHANNESBURG, Jan 27 (Reuters) – South African stocks
retreated from a record high on Friday, edging down half a
percent after retailers Shoprite and Woolworths
declined on concerns their valuations may be stretched
from a recent surge.
Shares of Investec fell nearly 1 percent after the
investment bank and asset manager said it would pay about $42
million for unlisted Irish financial firm NCB.
DUBLIN/JOHANNESBURG, Jan 27 (Reuters) – Investec
has agreed to buy Irish unlisted broker and wealth
manager NCB for 32 million euros ($42 million), as part of the
South African bank’s strategy to cut its reliance on traditional
Investec, a $1.9 billion investment bank and fund manager,
said it planned to pay for NCB in cash, although it could issue
preference or ordinary shares to help fund the deal.
JOHANNESBURG, Jan 23 (Reuters) – An appeal that will
determine the future of South African political rebel Julius
Malema started on Monday, giving the firebrand a last chance to
retain his influential position in the ruling African National
Malema, head of the ANC’s Youth League, rose to prominence
with calls to nationalise mines and seize white-owned land. He
is now fighting for political survival after being suspended by
the ANC in November for five years for bringing the party into
JOHANNESBURG (Reuters) – Standard Chartered Plc (STAN.L: Quote, Profile, Research) will not rule out acquisitions in Africa, even as it focuses on expanding its sub-Saharan presence from the ground up, the bank’s recently appointed Africa CEO said.
Standard Chartered, which makes about 10 percent of its profit in Africa, is targeting Nigeria and Ghana and aims to more than double its Nigerian branch network to 75 outlets by next year, Diana Layfield told Reuters in an interview on Thursday.
JOHANNESBURG, Nov 29 (Reuters) – South African media
and e-commerce firm Naspers reported a 7 percent gain
in first-half profit on Tuesday, capped by higher development
costs as its spends more to bulk up its widespread operations.
Cape Town-based Naspers has transformed itself from an
apartheid-era newspaper publisher to a global multimedia
business by buying or taking stakes in emerging-market Internet
JOHANNESBURG, NOV 9 (Reuters) – South African group Allied
Technologies said on Wednesday it was no longer in
talks to acquire unlisted Kenyan IT firm Symphony, a deal
Reuters previously reported could be worth up to $60 million.
Altech, a $742 million telecoms and IT firm, was at a late
stage in its due diligence when it walked away from the deal,
according to two people familiar with the matter.
JOHANNESBURG, Nov 8 (Reuters) – Johannesburg Stock Exchange
, Africa’s biggest bourse and ranked No.1 for regulation
in 2010 by the World Economic Forum, has sacked the head of its
equity derivatives business for irregular trading on his own
Allan Thomson was dismissed on Friday following an
investigation into his trading activity and a disciplinary
process, exchange operator JSE said on Tuesday.