Browsing: JSE

The pursuit of a greener earth and universal reliance on renewable presents a unique dilemma for countries in Sub Saharan Africa which rely heavily on energy provided by coal, shale, and other fossil fuels but also their economic livelihoods depend on the black gold.
The elimination of coal and related energy sources would severely prejudice economies that constitute SSA which are still developing or emerging.
It is against this background that the outgoing Chief Executive of the largest coal miner on the JSE, who is also the President of the Minerals Council is on record for saying that African countries should be allowed to make the transition from fossil fuels to greener renewable energies at their own pace. …

Not to be mistaken the adverse impact of the times have been felt at Richemont with sales for the half-year ending 30 September 2020 decreasing significantly by 26 per cent to €5.48 billion against the previous year. This decline in sales resulted in a fall in operating profits of 61 per cent from €1.165 billion to €452 million.

Notwithstanding this slowdown in profits, the company was able to deliver a 78 per cent increase in sales from their China market which has now been overtaken by the Americas as the company’s largest market.…

South Africa, Africa’s most diversified economy has taken a hard hit on its currency as investors grow increasingly anxious over the impact of the spread of corona virus in Africa.

According to a reuters report, investors are slowing down as they are calculating the economic impact of China’s spreading coronavirus outbreak.

According to Reuters, at 0702 GMT, the rand traded at 14.4800 versus the dollar, 0.59 per cent lower than its New York close on Friday.

The South African economy has sustained a rather serious shakedown over the past year, causing its business index to plummet, thus—reports show the sluggish outlook for the local economy added further strain on the currency on Monday.

Global Markets tumbled on Monday as investors grew increasingly anxious about the economic impact of the outbreak of coronavirus, which has taken more than 80 people’s lives.

Further, Reuters noted that a weak growth outlook for …

Johannesburg Stock Exchange (JSE), has partnered with African Development Bank (AfDB), six strong African exchanges and the African Securities Exchange Association (ASEA), to strengthen investments into Africa.

The collaboration comes to foster cross-border trading and settlement of securities across African countries’ exchanges. Further—the initiatives go after unlocking the Pan-African investment potentials, which also leads to the diversification needs of investors and attending to various drawbacks such as the inadequate depth and liquidity in Africa financial markets.

According to a report by Quartz Africa, Foreign Direct Investment (FDI) is expected to have risen by 20 per cent in 2018 to $ 50 billion after tanking in 2017 by 21 per cent to $42 billion.

More importantly, the seven Stock Exchanges participating in the first phase of the AELP represent about 85% of Africa’s securities market capitalization.

READ: Afreximbank plans $3 billion IPO on London Stock Exchange

The JSE is based …