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Bank Dividend Reprieve Comes With Warning in South Africa Bloomberg 2/22/2021 Roxanne Henderson (Bloomberg) -- South Africa’s banking regulator eased guidance to lenders that they shouldn’t pay dividends and executive bonuses -- though warned that protecting cash reserves must still take priority amid ongoing uncertainty from the Covid-19 pandemic. Popular Searches Where boards approve such payouts, they should be “prudent and commensurate with the assessment of current ...

Protecting cash reserves must still take priority amid ongoing uncertainty from the Covid-19 pandemic.

(Photo by Gallo Images/Jacques Stander) For every high-net worth person who emigrates, an average of R1.2 million in income taxes disappears from the system and the spending, value-added tax and economic activity they generate is also lost, Fewer than 14 million South Africans in the working-age population of 39 million are registered taxpayers and those earning more than R1 million a year pay 40.2% of all personal income levies. The small tax base is a symptom of South Africa’s extreme inequ...

Blog Blog Blog Blog 17 Feb, 2021 Author Matt Smith South Africas major banks need to improve transparency around their financing of fossil fuel industries, according to industry observers, who describe the current disclosures as "trivial" and "not meaningful." Environmental, social and governance issues were key features of President Cyril Ramaphosas state of the nation address in the week of Feb. 8, in which he outlined plans for a "just transition ...

(Bloomberg) -- A 60% rally in South African banking stocks from an eight-year low in May has further to run due to valuations far below levels before the coronavirus, according to JPMorgan Chase & Co. “The banks are actually very, very cheap,” John Storey, an equities analyst at the U.S.

South Africa Stocks Rally to Record as Tencent Surge Boosts Naspers By January 25, 2021 (Bloomberg) -- South Africa’s main stocks index jumped 2.1% as of 10:07 a.m. in Johannesburg, setting a fresh intraday record, as Naspers Ltd. was lifted by a surge in partly owned Chinese online giant Tencent Holdings Ltd. Retailer Woolworths Holdings Ltd. was also among the leading gainers, soaring the most since 1998 after an upbeat trading statement. Asian stocks and U.S. and European equity futu...

Word Count: 510 (Bloomberg) —  Asian stocks and U.S. and European equity futures rose Monday as investors focused on the prospect of additional fiscal stimulus and supportive Federal Reserve policy amid the worsening pandemic. Naspers advanced as much as 8.1%, the most in 10 months, to a new all-time high as Tencent jumped 11% in Hong Kong, the most since 2011. Naspers subsidiary, Prosus NV, which holds the company’s 31% stake in Tencent, climbed 7.4% to the highest level since the compan...

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Private-equity investors in southern Africa are closing deals again after a virus-induced lull, tapping a cash pile that stood at more than R30 billion rand in June, according to an industry association. Businesses in the education, health care and retail sectors operating online are among the top picks for investors seeking to take advantage of market gaps amplified by the Covid-19 pandemic, Tanya van Lill, chief executive officer of the Southern African Venture Capital and Private Equity Asso...

South Africa Stocks at Record in Best Start to Year Since 1999 Bloomberg 1/8/2021 South Africa’s main stock index rose for a fifth day and headed for a third consecutive record close, with banks rallying as optimism over a global economic rebound fueled appetite for riskier assets. Local market giant Naspers Ltd. added impetus to the advance, rebounding from Thursday’s losses as global technology shares rose. The FTSE/JSE Africa All Share Index advanced 1% as of 4:07 p.m. in Johannesburg,...