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Naspers extended gains for a third day, up 2.1% to provide the biggest boost to the index Anglo American halted a two-day slide, rising 1% as iron ore prices rebounded, leading the gauge for mining stocks higher for the first day in three. South African stocks rose on Thursday, gaining 0.6% as of 10:55 in Johannesburg and heading for a fresh all-time record close, as miners recovered amid optimism over a global recovery and as a stronger rand boosted banks. Johannesburg stocks joined peers in posting gains as the technology sector led a wider Asian rally after weaker-than-expected consumer pr...

Standard Bank reports 51% profit decline By Roxanne Henderson (Bloomberg) – Standard Bank Group Ltd. said any economic recovery from the Covid-19 pandemic in Africa would likely take until late this year or even 2022, warning of the long wait ahead for lenders struck by a slump in borrowing and spending. The continent’s largest bank reported a 51% decline in profit after taxes and other adjustments for the year through December, according to a statement on Thursday. The Johannesburg-based company also declared a dividend of 2.40 rand ($0.16) per share, after the South African regulator la...

As recovery still fragile.

(Bloomberg) -- South African business confidence unexpectedly fell in the first quarter as company executives remain concerned about the fragile nature of the economy’s recovery. A quarterly gauge measuring the business mood dropped to 35 from 40 in the previous three months, FirstRand Ltd.

South Africa’s cryptocurrency exchanges say they are having to move headquarters abroad due to uncertainty over potential government regulation.