Company in South Africa

  • Africa: Expanded Engagement for Caterpillar - Boosting Sales & Alleviating Poverty

    BOTSWANA, 2017/07/16 A strong signal of growing business engagement with Africa by large U.S. corporations was the announcement last September by Caterpillar CEO Doug Oberhelman of plans to invest over $1 billion in Africa over the next five years. Caterpillar is not a new-comer, having begun doing business on the continent in 1926. At last month's U.S.-Africa Business Summit in Washington, DC, David Picard, Caterpillar's regional manager for Africa and the Middle East, described some of the steps that have been taken since last year's announcement. He as well talked about the challenges and opportunities he sees, inclunding Nigeria, where the company has operated since 1948. He was interviewed by AllAfrica's Noluthando Crockett-Ntonga and Ladi Olorunyomi from Premium Times in Nigeria. The interview has been edited for clarity and length.
  • South Africa: We Are Struggling' Says Robertson Winery Worker As Strike Enters 13th Week

    SOUTH AFRICA, 2016/11/20 New company offer rejected as union demands R8,500 per month On Thursday, striking workers from Robertson Winery and surrounding farms marched to the company's office. The workers have rejected the R400 pay increase offered by Robertson Winery's management and are demanding a "living wage" of R8,500 per month. The strike of about 200 Robertson Winery workers is in its 13th week.
  • Eskom to use R7bn loan to stabilise financial position

    SOUTH AFRICA, 2016/10/04 Eskom says the initial payment from the China Development Bank will be used to help finish its build programme. The power utility has signed an inaugural $5 billion credit facility with the bank. The initial payment of R7 billion was paid out yesterday.
  • SABMiller sales hurt by economic volatility in Africa

    UNITED STATES, 2016/07/22 Brewer SABMiller (SAB.L), in the process of being bought by Anheuser-Busch InBev (ABI.BR), reported lower quarterly revenue on Thursday, hurt by tough conditions in some African markets. The maker of beers such as Castle Lager, Peroni and Grolsch said group net revenue fell 4 % in its initial quarter, ended June 30, with volume flat. Excluding the impact of acquisitions, disposals and currency fluctuations, revenue rose 2 % as gains in Europe, South Africa and Latin America offset additional challenging conditions in other African markets, where volume was hurt by economic volatility and tough conditions.
  • FirstRand to Cut Lending in Another Blow to African Economy

    SOUTH AFRICA, 2016/03/16 Africa’s economic troubles took a turn for the worse, with the continent’s biggest bank saying it will rein in lending. FirstRand Ltd. Chief Executive Officer Johan Burger said the bank is curbing credit in response to an increase in defaults, a commodity-price slump and slowing consumer request in its biggest markets, which include South Africa, Nigeria and Zambia. “This year, we’ve taken a further decision to make further cuts on credit granting, so investment increase will drop,” Burger said Tuesday by phone. “The retail cycle has turned and the rest of Africa has as well seen some uptick in non-performing loans.”
  • Barclays Africa scaling back not linked to economic woes

    RUSSIA, 2016/03/14 Barclays's plan to scale back its Africa operations is linked to world regulatory challenges, not unfavorable economic conditions on the continent, the bank's Africa chief executive has said. "We did not make this decision because of the economic cycle," Maria Ramos said in an interview in Johannesburg. "The regulatory environment has changed globally and it's additional difficult for large banks to hold on to subsidiaries like ours," she said. The British lender early this month announced that it will sell down its 62.3 % interest in Barclays Africa to just 20 % over the next two to three years, fueling speculation over the decision.
  • Huawei plans to promote Africa’s digital economy by building a better connected Africa

    CHINA, 2015/12/10 Huawei has called for enhanced cooperation between China and Africa in building a better connected world in order to promote the digital economy in Africa. As the only representative from the Telecom industry present at the 5th Conference of Chinese and African Entrepreneurs, a side event of the Forum on China-Africa Cooperation (FOCAC), Huawei expressed its continued efforts to building a better connected Africa. During his address at the event, Charles Ding, Senior Vice President of Huawei, said, “Huawei has been focused on building a better connected Africa for 17 years. We continuously leverage our world innovation capabilities and cooperate with governments, customers, and industrial partners to increase telecom network coverage significantly to achieve a win-win cooperation. We’ve deployed additional than 50% of wireless base stations, over 70% of LTE networks and at least 50,000KM of optical fibre to provide better telecom connectivity to Africa. Connectivity is the cornerstone to the development of a digital economy in Africa. “
  • Standard Bank Group has expanded its already extensive East African footprint

    ETHIOPIA, 2015/10/31 Standard Bank Group has expanded its by presently extensive East African footprint with the official opening of a representative office in Ethiopia. This means that Standard Bank, which is Africa’s major bank by assets, has a continent-wide footprint in 20 African nations. The representative office, which is based in Addis Ababa, was opened by Standard Bank Chief Executive, Ben Kruger. It will act as an entry point for clients seeking to invest in Ethiopia and will be administered by Standard Bank’s chief office in South Africa.
  • The comparison website Click n Compare is taking Africa by storm

    SOUTH AFRICA, 2015/08/21 CNC Group (CNC), parent company of Click n Compare (http://www.clickncompare.co.za), the South African-focused comparison website is expanding their African footprint next a very successful year with a strong month on month increase of 40%. Alongside the South African success of the brand comes presently their launch of a new consumer-facing brand, CompareGuru, into both Nigeria and Kenya. Established in 2013, Click n Compare is a one-stop portal for African consumers who are looking to source services and be educated in hard-to-navigate verticals, such as insurance, mobile, broadband, and banking. The Internet has empowered consumers to access additional data than ever before, but it has as well made it that much harder to zero in on exactly what one is next. CNCs ultimate goal is as a result to help people save time and money with the help of side-by-side comparisons.
  • South Africa: Eskom's Class Agenda

    SOUTH AFRICA, 2015/06/25 Eskom has been plagued by inefficiencies and scandals. There's been load shedding, exorbitantly large managerial salaries, and scandals around tenders and coal-supply costs. Over and above this has been Eskom's request for significant tariff increases to supposedly overcome a funding shortfall despite the fact that the power utility recorded a R7 billion profit last year. Eskom's troubles have as well been used as a pretext, by some, to once again call for its full privatisation. The ANC is considering selling equity in Eskom to pension funds.